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1989-11-04_REVISION - C1981035
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1989-11-04_REVISION - C1981035
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Last modified
1/10/2021 7:28:00 PM
Creation date
4/16/2012 11:21:26 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981035
IBM Index Class Name
REVISION
Doc Date
11/4/1989
Doc Name
Coal Lease
Type & Sequence
PR2
Media Type
D
Archive
No
Tags
DRMS Re-OCR
Description:
Signifies Re-OCR Process Performed
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6 . Rental . Upon cessation of diligent mining production of the <br /> maximum amount of compliance Coal from the Property and due <br /> consideration given to safe mining practices , this Lease <br /> shall not terminate so long as Lessee pays a monthly rental <br /> of $600 . 00 per month for such use of entry of such property <br /> to adjoining properties for the continued Coal operations of <br /> Lessee . <br /> 7 . Advance Minimum Royalty . For each lease month from and <br /> after January 1 , 1990 , and in the event that the monthly <br /> production royalty payments do not equal the monthly sum of <br /> $3 ,333 . 33 , Lessee agrees to pay to Lessor the difference <br /> between production royalty payments made during such month <br /> and such sum . Such sum constitutes an advance minimum <br /> royalty payable to Lessor on or before the end of the <br /> following month during which this Lease remains in effect . <br /> Provided , however , that all amounts paid as advance minimum <br /> royalty are fully creditable against production royalties if <br /> and when such amounts shall otherwise become due and payable <br /> to Lessor according to the provisions of this Lease . <br /> 8 . Manner Of Payment . All payments due hereunder may be made <br /> y check draft , wire or electronic funds transfer sent or <br /> delivered on or before the date the same is due . <br /> 9 . Title . Lessor hereby represents and warrants full fee <br /> mercTiantable title to the Property and agrees to defend the <br /> same . <br /> 10 . Taxes And Encumbrances . Lessor shall pay property taxes <br /> levied and assessed upon the Property during the term of <br /> this Lease . Lessee shall pay all taxes , levies and <br /> assessments on any improvements placed by it upon the <br /> Property . All severance taxes levied , assessed and computed <br /> on the quantity or value of coal mined from the Property <br /> under this Lease shall be paid by Lessee . <br /> Lessee shall have the right at any time to pay on behalf of <br /> Lessor any mortgage , tax or other lien on the Property in <br /> the event of default of payment by Lessor and be subrogated <br /> to the rights of the holder thereof , or , at the option of <br /> Lessee , any such payments made by Lessee , together with an <br /> annual interest charge based on the prime lending rate then <br /> in use by the United Bank of Denver , Denver , Colorado , plus <br /> two ( 2) percentage points , computed from the date of payment <br /> to date of deduction , may be deducted from any amount of <br /> money payable to Lessor under the terms hereof . <br /> 11 . Water . To the extent Lessor owns such rights , Lessee is <br /> ' erewith granted the right to drill , develop , appropriate <br /> and devote to its uses all ground or other waters on the <br /> Property ; provided , however , that Lessee shall at all times <br /> comply with the provisions of applicable law . <br />
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