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The Company desires to extractor purchase aggregate for cement and road base located on the above <br />described !and. Royalty fees will be paid at the following 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 Companysbail pay,o Owner a "Sales Royalty" cakuleted from a "Base Royalty" <br />at the rate of one defter 0$200) per Net sales Ton, within twenty (20) days after the <br />clods of each Wendel' month. <br />b, The Company shall keep and malntaln adequate and accurate records of the <br />quantities of4Materlals,mined ant sold, The Sales Royalty payments shall be <br />accompanle`dby amonthl 's a't'ement with :the royalty calculation that includes an <br />accounting of the tons of Materials mined from the Property and or decried <br />sold. Owner altatl ,eve the right at all reasonable :times during business hours and <br />upon reasonable prior nat!ce to examine such records of the Company at the offltes <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 shalt 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 (30) 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 />mater at in any area of sufflcient she: and to employ any reasonable Methods for the removal as said <br />material. The Company shill also have the right Of ingress and egress for the purpose of reclamation, <br />The Company agrees to provide Uablilty insurance and shah be responsible for all of tts a eratIons <br />related to mining of the property; The Company agrees to provide proof of such !lability Insurance to <br />the Qwers, The Ownerrs 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 />