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The Company desires to extractor purchase aggregate for cement and road base located on the above <br />described land. 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 it the next five years. <br />a, the Company shell pay to Owner a "Sales Royalty" calculated from a "Base Royalty" <br />at the rate one dollar ($2.00) per Net Sales Ton, within twenty (20) days after the <br />close of eat ealendar month. <br />b. The Company shall keep and maintain adequate and accurate records of the <br />quantities of Materials maned and sold, The_Sales Royalty payments shall be <br />accornpanled by. a monthly statement wuth the royalty.ral;culatton that Includes an <br />accOiin`ing of the tons of Materials mined from the Property and sold or deemed <br />sold, owner shall have the right at all reasonable times during :business hours and <br />upon reasortable,prior notice to examine:00i records of the Company at the offices <br />of the Company and to verify the quantltiss of Material removed and sold, and the <br />accuracy of the scales used to weigh the Materials, <br />Thls 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 (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 />material in any area of suffldent size; and to employ any reasonable methods for the removal as Bald <br />material. The tompany 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 of the prdperty. The Company agrees to provide proof of such lability insurance to <br />the Ownrs. The Owners will be held herinless 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 />1( <br />