Common use of Annual Assessment Work Clause in Contracts

Annual Assessment Work. 4.1) EC and its successors or assigns shall perform all annual assessment work, and if required, pay maintenance fees and other costs required by law to hold and maintain in good standing the Property for each assessment year, as defined by statute, during the currency of this Agreement and ending upon the date this Agreement expires. EC or its successors or assigns shall then perform all annual assessment work for any additional term or terms of this Agreement in accordance with State and Federal regulations. 4.2) If this Agreement expires or is terminated after the first day of July in any assessment year, EC shall perform the required assessment work or pay the maintenance fees for the Property with respect to the remainder of that assessment year, and shall have the right to enter onto the Property at any time or times during the remainder of said assessment year to perform or complete the above-required assessment work for said assessment year, without payment or other obligation to Fox or others. 4.3) EC shall pay any and all annual claim maintenance fees due any governmental regulatory agency, including the United States Department of the Interior, Bureau of Land Management no later than Fifteen (15) Days before their due date. 4.4) EC shall provide documentation to Fox of all payments, filings, or other related claim maintenance documentation. LEASE AGREEMENT - 3

Annual Assessment Work. 4.111.1) EC ICMC and its successors or assigns shall perform all annual assessment work, and if required, pay maintenance fees and other costs required by law to hold and maintain in good standing the Property for each assessment year, as defined by statute, during the currency of this Agreement and ending upon the date this Agreement expires. EC ICMC or its successors or assigns shall then perform all annual assessment work for any additional term or terms of this Agreement in accordance with State and Federal regulations. 4.211.2) If this Agreement expires or is terminated after the first day of July in any assessment year, EC ICMC shall perform the required assessment work or pay the maintenance fees for the Property with respect to the remainder of that assessment year, and shall have the right to enter onto the Property at any time or times during the remainder of said assessment year to perform or complete the above-required assessment work for said assessment year, without payment or other obligation to Fox or others. 4.311.3) EC ICMC shall pay any and all annual claim maintenance fees due any governmental regulatory agency, including the United States Department of the Interior, Bureau of Land Management no later than Fifteen (15) Days before their due date. 4.411.4) EC ICMC shall provide documentation to Fox and EC of all payments, filings, or other related claim maintenance documentation. LEASE AGREEMENT - 3.