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Properties by the Lessee during each calendar month, within thirty (30) days after the end of <br />each calendar month. Such monthly statements shall include tables of gravel, sand and concrete <br />removed from the Pit Properties, such tables to be in a similar format as the sample tables <br />attached hereto as Exhibit F. Lessor shall have the right, at reasonable times and upon <br />reasonable prior written notice, to examine Lessee's books and sales records to verify the <br />accuracy of Royalty payments. Lessor shall have the right, not more than once each year, to <br />inspect the weight scales at the Gravel Processing Area and/or receive copies of weight tickets. <br />Lessor may also cause an aerial measurement of the Pit Properties to be made, which <br />measurement shall serve as another verification of the Aggregates removed from the Pit <br />Properties; provided, however, that the costs of such aerial measurement shall be borne by <br />Lessor. <br />7. Term. <br />(i) Dillon Ranch Pit Properly. With respect to the Dillon Ranch Pit <br />Property, the term of this Lease will be for a period from the Commencement Date until the <br />earlier of (i) the date (the "Depletion Date ") when Lessee has determined, in Lessee's sole <br />discretion, that all of the mineable and merchantable Aggregates have been mined and removed <br />from the Dillon Ranch Pit Property, and (ii) the date (the "Feasibility Date ") when Lessee has <br />determined, in Lessee's sole discretion, that it is no longer economically feasible to continue to <br />mine and remove Aggregates from the Dillon Ranch Pit Property. For the purpose of the <br />foregoing, Lessee shall notify Lessor in writing of its determination that either the Depletion <br />Date or the Feasibility Date has occurred, and this Lease shall terminate ninety (90) days <br />thereafter. <br />(ii) Gravel Processing Area. Silverton Property and Willow Bend Pit. With <br />respect to the Gravel Processing Area, the Silverton Property, and the Willow Bend Pit Property, <br />the term of this Lease shall initially be for ten (10) years from the Commencement Date. Unless <br />notice of termination is given by Lessee to Lessor at least ninety (90) days prior to the tenth <br />(10 anniversary of the Commencement Date, this Lease shall automatically renew for each <br />successive period of five (5) years thereafter (each, a "Renewal Period ") until Lessee provides <br />Lessor with notice of termination at least ninety (90) days prior to the end of any such Renewal <br />Period, for no more than two (2) such Renewal Periods. Notwithstanding the foregoing, in the <br />event of any termination of this Lease with respect to the Pit Properties in accordance with <br />Section 7(i) above, Lessee shall have the option to terminate this Lease with respect to the <br />Gravel Processing Area and the Silverton Property upon ninety (90) days' notice by providing <br />Lessor with notice of termination at any time following notice given by Lessee of the Depletion <br />Date or Feasibility Date, as applicable. <br />8. Insurance. <br />(i) Carried by Lessee. Lessee at all times during the term of this Agreement <br />shall, at its own expense, keep in full force and effect comprehensive general liability insurance <br />with "personal injury" coverage and contractual liability coverage with minimum limits of <br />on account of bodily injuries to, or death of, one or more than one person as the <br />result of any one accident or occurrence on the Premises and on account of damage <br />to property. Lessor shall be an additional named insured on said policy. All insurance policies <br />6 <br />