Laserfiche WebLink
9. ASSIGNMENT -- Lessee, with written consent of Lessor, may assig,..ais Lease as to the leasehold interest <br />of Lessee in all or part of the lands covered hereby; not less, however, than' tracts of approximately 40 <br />acres or Governmental lots corresponding to a quarter-quarter section for partial assignment. For approval <br />of such assignment Lessor may charge an assignment fee in an amount currently in effect at the time of the <br />assignment. <br />If an assignment of a part of this tease is approved, a new lease designated as an assignment will <br />be issued to the assignee covering the lands assigned for the balance of the term of the base lease on the <br />mining lease form in use at the time of assignment and limited as to term as said lease is limited. The <br />assignor will be released and discharged from all further obligations for such lands assigned, as if the same <br />had never been a part of this lease. <br />No assignment or transfer of this Lease will be held valid by Lessor unless made with its consent <br />in writing and duly entered in the books or records of Lessor. <br />Notwithstanding the foregoing provisions of this Section 9, Lessee shall have the right, without the <br />approval of Lessor, to assign or sublease its rights hereunder to any parent corporation, or subsidiary of <br />Lessee. <br />10. ASSIGNMENT CONSIDERATION -- The consideration for approval of assignment by Lessor shall be <br />10% of the value of any consideration tendered to Assignor by Assignee for the assignment but not less <br />than fift and no/100 Dollars ger acre -- ($ 50.Od/acre ). Divulgence of the value of these <br />considerations shall be mandatory, in affidavit form, which form shall be presented to Lessor along with <br />the other assignment instruments in order to obtain Lessor's approval for the assignment. An assignment <br />does not constitute a new lease but is a continuation of the base lease. Any attempt to withhold this <br />information 'shall be construed as an attempt to defraud the State of Colorado and shall render this lease <br />null, void and nonexistent, and all monies paid to Lessor shall be forfeited to Lessor. In addition, the <br />current statutory fees will be paid at the time the assignment record form is submitted. <br />11. AGREEMENTS OUTSIDE THE TERMS OF THIS LEASE - No assignment of undivided interests or <br />retention or reservation of overriding royalties will be recognized or approved by Lessor; and the effect, <br />if any, of any such assignments or reservations will be strictly and only as between the parties thereto, and . <br />outside the terms of this Lease, and no dispute between parties to any such assignment or reservation shall <br />operate to relieve Lessee from performance of any terms or conditions hereof or to postpone the time <br />therefor. Lessor will and shall at all times be entitled- to look solely to Lessee or its assignee shown on <br />Lessor's books as being the sole owner hereof, and for the sending of all notices required by this Lease and <br />for the performance of all terms and conditions hereof. <br />Although not binding on Lessor, all instruments of every kind. and nature whatsoever, including but <br />not limited to sublease agreements and operating agreements, affecting this Lease shall be filed in the <br />records of the Mineral Department of Lessor. Upon request, such instruments furnished may be kept <br />confidential as consistent within the law. <br />12. REPORTS - After operations begin, it is agreed that on or before the last day of each and every month <br />during the term of this Lease Lessee shall make a sworn, verified, written- report to Lessor, in which report <br />shall be entered and set down the exact amount in weight of all coal mined and removed from the Leased <br />Premises and the price at the first point of sale for which the coal was sold during the preceding calendar <br />month , which report shall show the amount of work performed during the preceding calendar month. <br />Lessee shall also, during the term of this Lease, make a swam, verified, written statement to Lessor <br />disclosing the number of tons of all coal mined from the Leased Premises during the preceding year and <br />such annual statements may coincide with Lessee's fiscal years or with. official calendar years. Further, <br />Page 5 of 10