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<br /> B -i- OIL AND GAS LEASE r
<br /> Form 88�(Producers) (NEBRASKA)
<br /> 21262—The Augustlne Co., County 3upplies, Grand Island, Nebr.
<br /> �pM THE STATE OF NEBRASKA
<br /> ss.
<br /> George Cowle and wife Counfy,
<br /> I I�ereby certify that tl�is instrument was entered on Numerica.I Index, and filed
<br /> for record this 25 c�ay of October �9��. •
<br /> TO 0.t 9 w.00 O�CLOCR A� M. ��
<br /> Register of D�
<br /> The Carter Oil �om�any
<br /> Deputy:
<br /> Fees, $ 2. ��
<br /> Commence
<br /> AGRE$MENT. I�'lade and enterecl into this b t}.1 day o f 0 c t o b er . 19 �-]. . by and between
<br /> George Co�lle and Lucy Cowle, nis �rife, Route #l, 'Nlood xiver, Nebraska
<br /> Party o f the f irst part,hereinaf ter called lessor(whether one or moreJ and
<br /> The Cart er ��1. �ompany — — — — — — — — — — — — — — — — Part y of the second part, hereinafter called lessee,
<br /> WITNESSETH, That the saic� lessor, for ancl in consic�eration of Ten and no/100 - - - - - - - - - - - - - - - DOLLARS,
<br /> cash in liand paid, receipt of wliich. is hereby acTznowledged, and of tl�e covenants and agreements liereinafter contained on the part of Iessee to be paid, lzept, anc� per-
<br /> formecl, has granted, demised, leased and let and by these presents does grant, demise, lease and let unto said lessee,for the sole and only purpose of mining and operating
<br /> for oil ancl gas, and laying pipe Iines, and builcling tanks, power stations anc�structures thereon to procluce,save and take care of saicl procjucts.all that certain tract of land
<br /> situated in tlie County o{ Hall State of NEBRASKA described as follows, to-wit:
<br />, The Sout`r�east Quarter ( �E�)
<br /> of Section 2� Township q North Range 12 �'IT@St and containing 1(Q acres, more or less.
<br /> It is agreecl that this lease shall remain in f uTl f orce f or a term o f T e n years f rom this date, ancl as long thereaf ter as oil or gas, or
<br /> either o f them, is proclucecl f rom said land by the Iessee.
<br /> In consideration of the premises the said lessee covenants and agrees:
<br /> tst. To deliver to the credit of lessor, free of cost, in the pipe line to whicl� he may connect �is wells, the equal one-eightli (1/a) part of all oil produced and saved
<br /> f rom the Ieased premises.
<br /> �nd. To pay lessor for gas from eacl� well where gas only is found the equal one-eigl�tl� (�/s) of tl�e gross proceeds at the prevailing marizet rate, for aII gas used off
<br /> the premises, said payments to be made �onthly
<br /> and lessor to have gas free of cost from any such well for all stoves and all inside Iights in the principal dwelling �ouse on said land during the same time by making his
<br /> own connections with the well at his own risk and expense.
<br /> grd. To pay lessor for gas producecl from any oil well and used off t�e premises or in the manufacture of gasoline or any other product a royalty of one-eighth
<br /> (1/s) of the marizet value, at the mouth of the well, payable morzthly at tTie prevailing marizet price.
<br /> 1 f no well be commencecl on said Iand on or be f ore the 6 t h day o f 0 e t o b e r . �9 �2 , this lease shall
<br /> terminate as to both parties, unless the Iessee on or be f ore that date sTiall pay or tender to the lessor,or to the lessor's credit in The Fi r s t St 2.t 2
<br /> Bank at snelton, i�Pbrasl�a or its successors, whic� s�all continue
<br /> as tl�e deposifory regarclless of changes in the owne:ship of said Iand, the sum of Forty and T10�1�� - - - - - - - - - - DOLLARS,
<br /> which. shall operate as a rental and cover the privilege of deferring the commencement of a well for 1.� months from said clate. In like manner ancl
<br /> upon Iike payments or tenders the commencement of a well may be further deferred for lilze periods of the same number of months successively. All such payments or
<br /> tenders of rentals may be made by check or draft of lessee or any assignee thereof, mailed or delivered on or before the rental paying date, either direct to Iessor or assigns
<br /> or to said depository bank. Ancl it is understood and agreed that the consideration f irst recited herein, the down payment, covers not only the privileges granted to the
<br /> date when said first rental is payable as aforesaid, but also the lessee's option of extending that period as aforesaid, and any and alI other rights conferred.
<br /> Should tl�e f irst well drilled on the above described Iand be a dry hole, then, and in that event, if a second well is not commenced on said Iand witTiin twelve months
<br /> f rom tTie expiration o f the Iast rental period f or which rental has been paid, this lease shall terminate as to botl� parties, unless the lessee on or bef ore the expiration o f
<br /> saicl twelve months shall resume the payment o f rentals in tl�e same amount and in tlie same manner as liereinbef ore provided. And it is agreed that upon the resump-
<br /> tion of the payment of rentals, as above provided, that the last preceding paragrapTi hereof, governing the payment of rentals and the effect thereof, shall continue in
<br /> force just as though there liad been no interruption in the rental payments.
<br /> I f said lessor owns a less interest in the above described land than tl�e entire ancr undivided f ee simple estate therein, then the royalties and rentals herein provided
<br /> s�all be paid the lessor only in the proportion wl�ich his interest bears to the whole and undivided f ee.
<br /> Lessee sliall Tiave the right to use, free of cost, gas, oil, and water produced on said land for its operation thereon, except water from wells of Iessor.
<br /> Wlien requested by lessor, lessee shall bury {►is pipe lines below plow deptTi.
<br /> No wel� shall be drilled nearer than 20o feet to the Tiouse or barn now on said premises, wit�out tke written consent of the lessor.
<br /> I.essee shall pay f or damages caused by its operation to growing crops on said land.
<br /> Lessee shall have the right at any time to remove all machinery and(ixtures placecl on saic�premises, including the right to draw and remotie casing.
<br /> If t�e ressee slial�commence to clrill a well within t{te term of this lease or any extension thereof, the lessee shall have the right to drill sucli well to completion wit�i
<br /> reasonable diligence ancl clispatch, and if oiI or gas, or either of them, be found in paying quantities, this lease shall continue ancl be in force witl� the lilze ef fect as if
<br />' suclti well IiacI been completecl within the term of years herein first mentionec�.
<br /> If the estate of either party hereto is assigned, and the privilege of assigning in whole or in part is expressly allowed, the covenants hereof shall extend to their
<br /> heirs, executors, administrators, successors or assigns, but no change in the ownership of the land or assignment of rentals or royalties shall be binding on the lessee until
<br /> af ter the lessee has been f urnished with a written trans f er or assignment or a true copy thereo{; and it is hereby agreed in the event this lease shall be assigned as to a
<br /> part or as to parts of tFie above clescribed Iancls ancl the assignee or assignees of such part or parts shall fail or malze c�efault in the payment of t�ie proportionate part of
<br /> the rents clue from him or them on an acreage basis, such def ault shall not operate to d'ef eat or af f ect this lease in so f ar as it covers a part or parts of said lands upon
<br /> which the saicl lessee or any assignee thereo f shall malze due payments o f said rentals. 1 f the leased premises are now or hereaf ter owned in severalty or in separate tracts,
<br /> tlte premises, nevertheless, may be developed and operated as an entirety, and the royalties shall be paid to each separate owner in the proportion that the acreage owned
<br /> by htm bears to the entire leased area. There shall be no obligation on the part of the lessee to of fset wells on separate tracts into which the land covered by this lease
<br /> may hereaf ter be divided by sale, devise, or otherwise, or to f urnish separate measuring or receiving tanks f or the oil produced f rom such separate tracts.
<br /> Lessor hereby warrants and agrees to defend the title to tlie lands herein described, and agrees that the lessee shall liave the right at any time to redeem for lessor by
<br /> payment, any mortgages, taxes or ot�er liens on the above described lands, in the event of clefault of payment by lessor, and be subrogated to tl�e rights of the holder
<br /> thereof.
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<br /> Signed. sealed and delivered in presence of ------------------------------�-----------�---------._..L1�CY.---CQSa�..�..------------------......-------------�----(SEAL)
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