Laserfiche WebLink
5. Payments to Marvin H. White and Billie June White. <br />(a) Closing Payment. Oxbow shall pay Marvin H. White and Billie June <br />White a closing payment in an amount agreed to as shown on Exhibit Q relating to the 2012 <br />calendar year within 10 Business Days of the mutual execution of this Agreement. <br />(b) Exploration Drillhole Pad Payment. Oxbow shall pay Marvin H. White <br />_ <br />and Billie June White the Exploration Drillhole Pad Payment agreed to on Exhibit Q per <br />Exploration Drillhole Pad, Ground Water Well Monitoring Site, or other environmental <br />monitoring site developed during the exploration drilling process. <br />(c) Consideration. I ' 'he Parties agree that the sum of the payments described <br />in subsections (a) and (b) above and shown on Exhibit D shall be full consideration for all <br />surface use and access rights set forth in Section 2 and Section 3 above. <br />G. Reclamation. Following the permanent cessation of Survey Activities and <br />exploration activities, Oxbow shall reclaim or restore the affected portion of the Properties when <br />and as required by applicable law, rule or regulation and shall be responsible for the costs of such <br />reclamation resulting from the exploration drilling and construction of Exploration Drillhole <br />Pads on the Properties. Marvin H. White acknowledges that state regulatory authorities will be <br />required to access the reclaimed area to,verify that appropriate reclamation activities occurred to <br />any Exploration Access Road and Exploration Drillhole Pad. Oxbow shall also be entitled to <br />such access in connection with the foregoing activities. These activities may include, without <br />limitation, visits to the site for grading any erosion features, spraying for weeds or re-seeding, if <br />necessary, and regulatory inspections. Oxbow agrees that it will endeavour to schedule these <br />activities so as to minimize interference with landowner or ranch activities on the Properties, but <br />the Parties recognize that the timing requirements of the applicable regulatory authorities may <br />cause some disruption with ranch or Marvin 11. White activities. <br />7. Miscellaneous. <br />(a) Notices, All notices and other communications under this Agreement <br />shall be in writing and delivered (i) personally, (ii) by registered or certified mail with postage <br />prepaid, and return receipt requested, or (iii) by nationally recognized commercial overnight <br />courier service with charges prepaid, directed to the intended recipient using its respective <br />address provided in the introductbry'parhgiaph above. A notice or other communication shall be <br />deemed delivered on the earliest to occur of (1) its actual receipt, (2) the fifth Business Day <br />following its deposit in registered or certified mail, with postage prepaid and return receipt <br />requested, or (3) the first Business Day following its deposit with a nationally recognized <br />commercial overnight courier service, with charges prepaid. Any Party may change the address <br />to which notices and other communications hereunder can be delivered by giving the other notice <br />in the manner herein set forth. <br />#1498959 0 den <br />