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The Company desires to extract or purchase aggregate for cement and road base located on the above <br />described land. Royalty fees will be paid at the ftNowing rate; <br />Aggregate products removed at $1.00 per ton for the first five years. <br />Then at for the next five years. <br />a, the Company shall pay to Owner a "Sales Royalty' cekulated from a "Base Royalty" <br />at the rate of one dollar ($1.00) per Net Sales Ton, within twenty (20) days after the <br />dose of each calendar month. <br />b. The Company shell keep and maintain adequate and accurate records of the <br />quantities of Materials mined and sold. The Sales Royalty payments shall be <br />accompanied by a monthly statement with the royalty calculation that includes an <br />aooconting of the tons of Materials mined from the Property and sold or deemed <br />sold. Owner shah have the right at all reasonable times during business hours and <br />upon reasonable prior notice to examine such records of the Company at the offices <br />of the Company and to verify the quantities of Material removed and sold, and the <br />accuracy of the scales used to weigh the Materials. <br />This lease agreement with option to buy materials shall commence on the day of this agreement and <br />remain In force for a term of ten (10) years, with the option to renew until the material is mined out, <br />Except the Owners may cancel the provisions of the lease agreement for any reason at any time <br />provided thirty (80) days notice is given. <br />The Company agrees to provide a mining plan consistent with the future development criteria of the <br />Owner mutually acceptable to both parties. <br />The Company shall have the right of Ingress and egress to and from the subject premises and to erect <br />any temporary structures, such as screening, crushing, and /or asphalt or concrete plants; to stockpile <br />material in any area of sufficient the and to employ any reasonable methods for the removal as saki <br />material. The Company shall also have the right of Ingress and egress for the purpose of reclamation. <br />The Company agrees to provide liability insurance and shall be responsible for all of its operations <br />related to mining of the property. The Company agrees to provide proof of such liability Insurance to <br />the Owen. The Owners will be held harmless for acts of the Company and Its employees or <br />subcontractors related to operations on the property. <br />Payments for materials removed from the property will be made to the Owners in a timely fashion. <br />2 <br />