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01 Mining Lease Agreement

01 Mining Lease Agreement

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Published by: jennalinneaross on Jun 22, 2011
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03/05/2014

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Iy
UNIVERSITY
OF
MINNESOTA
MINING
LEASE
AGREEMENTBETWEENREGENTS
OF
THE
UNIVERSITY
OF MINNESOTA
ANDDAKOTAAGGREGATES
LLC
JUNE
2011
 
TABLE
OF
CONTENTS
Page
ARTICLE
GRANT
.1
ARTICLE
II
TERM
ARTICLE
III
PAYMENTS TO
UNIVERSITY
Section
3.1
Production
Royalty
Section
3.2
Base
Royalty
Imported
Products
Section
33
Initial
Advanced
Minimum
Royalty
Annual
Minimum
Royalty
Section
3.4
ExpenseReimbursement
10
Section
3.5
Survey
and
Plan Costs
10
Section
3.6 Precious
Metals
11
Section
3.7
Contribution
to
Scholarship
Fund
11
Section
3.8
NetLease
Applicationof
Payments
11
ARTICLE
IV
CONDUCT
OF OPERATIONS
12
Section
4.1
Use
Mining
PracticesOperationsPlan
12
Section
4.2
Phases
Reservation
of
Rights
13
Section
4.3
Improvements
14
Section
4.4
Compliance
with
Laws
Satisfaction ofMitigation Obligations
15
Section
4.5
Maintenance
15
Section
4.6
Utilities
17
Section
4.7Signs
17
Section
4.8
Zoning
18
Section
4.9 Licenses
and
Permits
18
Section
4.10
Reclamation
20
Section
4.11Inspection
of
Property
and
Lessees
Operations
20
Section
4.12Production
Records
21
Section
4.13
Weighing
of
Materials
Use
of
Scales
Scale
Adjustments
21
Section
4.14 Liens
21
Section
4.15
Timber
Plantingof
Trees
22
Section
4.16
University
Improvements
23
Section
4.17 Public
Roadway
Improvements
23
Section
4.18
Community
Relations
Transportation
24
Section
4.19
Site
Security
25
Section
4.20
Sustainability
25
ARTICLE
REPRESENTATIONS
AND
WARRANTIES
QUIET
ENJOYMENT
25
Section
5.1
Universitys
Representations
and
Warranties
25
Section
5.2
Lessees
Representations
and
Warranties
25
Section
5.3Quiet
Enjoyment
25
ARTICLE
VI
INDEMNIFICATION
ENVIRONMENTAL
LIABILITIES
26
Section
6.1
UniversitysIndemnification
26
Section
6.2
Lessees
Indemnification
26
Section
6.3
Disclaimer of
WarrantiesEnvironmental
Conditions
and
Liabilities
26
Section
6.4
Conduct
of
Operations
with
respect
to
Environmental
Matters
28
Section
6.5
Survival
31
 
ARTICLE
VII
INSURANCE
.31
Section
7.1
Lessees
Insurance
Requirements
31
Section
7.2 Contractors
and
Consultants
Insurance
Requirements
32
Section
7.3 General Insurance
Requirements
33
Section
7.4
Waiver and
Release
33
ARTICLE
VIII
TAXES
34
Section
8.1
Taxes
Generally
34
Section
8.2 Unrelated
Business
Income Tax 35
ARTICLE
IX
DEFAULT
REMEDIES
TERMINATION
36
Section
91
Events
of
Default
36
Section
9.2
Remedies 37
Section
9.3
Additional
Default
Provisions
38
Section
9.4
Lessee
Remains
Liable
39
Section
9.5
Removal
of
Improvements
Transfer
of
Permits
and
Improvements
40
Section
9.6
Termination
of
Lease
by
Lessee
42
Section
9.7
Use
of
Accrued
Credits
upon
Termination
of
Possession
43
ARTICLE
GENERAL
PROVISIONS
43
Section
10.1
Assignment
and
Subleasing
43
Section
10.2
Agency
Third-Party Beneficiary
48
Section
10.3
Notice
Contact
People
48
Section
10.4Casualty
49
Section
10.5
Condemnation 50
Section
10.6
Lessees
Certificate
50
Section
10.7
Non-Business
Day
Deadlines
51
Section
10.8
Memorandum
of
Lease
51
Section
10.9
Headings
Exhibits
51
Section
10.10
Interpretation
51
Section
10.11
Further
Instruments
51
Section
10.12
Entire
Agreement
Amendments
Waiver
51
Section
10.13
Choice
of
Law
Construction
52
Section
10.14
Counterparts
Electronic
Signatures
52
Section
10.15
Brokers
52
Section
10.16
independent
Covenants52
Section
10.17
Severability
52
Section
10.18
Relationship
of Parties
52
Section
10.19
Liability
ofUniversity
53
Section
10.20
Encumbrances and
LeaseholdMortgages
53
Section
10.21
Guaranty
55
Section
10.22
Right
of
First
Refusal
55
Section
10.23
Security
Interest
56
Section
10.24
Amendment
to
Change
Legal Description
57
11

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