Laserfiche WebLink
value of'the coal at the first point of sale. Lessor must be notified of all overriding royalties accruing to . <br />this Lease. Violation of the above may subject this Lease to cancellation by Lessor.' <br />9. ASSIGNMENT — Lessee, with written consent of Lessor, may assign this 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 'feedwan ambunt'currently in•effect arthe time of the <br />:assignment"-. <br />If an• assignment of a part of this Lease 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 and4imited••aa to'tetm'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 />'Notwithstaiiding the'foregoing'provisions of this gectiok 9,,. Lessee shall have the right, without the <br />approval-of Lessor, to -assign: or -sublease its rights hereunder: to- ate ' 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 :fifty-and no /100. Dollars per acre- • �'($ 50.00 /acre ' ).. Divulgence ofthe value of these <br />considerations shall- be.mandatory, in affidavit -form� which. form'shall -be presented to i essor•along" with <br />the• other :assignment'•instruments in ordet :to obtaiii•I.;agor's approval - for the; assignmennt.-" An'asgtgnment <br />does ' -not 'constitute,a:new 1 lease " but - ii, a'-coritinuatiorr-of -the =base ldde: )Any' attempt - to *ithhelo this <br />information shall be construed as an attempt to defraud the State: of.Colgrado 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 aassignment`record form •is submitted. . <br />11. AGREEMENTS OUTSIDE THE TERMS. OP THIS LEASE -- No assignment• of undivided inteiests 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 />Lessors book§ as beingthe sole dwnerheieof,•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 -r- After operations begin; cit ;is agreed -that •on, or•- before•the last "day'•of each -and'-every month <br />:during:the term- this Leash LesseeshalY.make a sworiiI verified, Written report to Lessor-: in- Whi6h report <br />.5hiff be, eritered; slid set down the exact'amounr in' =weight of sill Coal mined and removed•Irom: 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 13hall -show.. the amount of work performed during the preceding calendar month. <br />. <br />Page of 10 <br />