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<br /> B -I- OIL AND GAS LEASE �,
<br /> �
<br /> Form 88�--(Producers) (NEBRASKA)
<br /> 21282—The Auguatine Co., County 8uppliea, Gra.nd Island, Nebr.
<br /> FROM THE STATE OF NEBRASKA
<br /> 95.
<br /> George Cowle and wife Hall County,
<br /> I hereby certify tTiat this instrument was entered on Numerical Index, anc� filecl
<br /> f or recorcl tjtis �Fj c�ay of 0 c t o b e �41 •
<br /> TO at 9:OQ o'cloclz A.M. �c.�-,-�,�
<br /> Register of Deeds.�
<br /> The Carter Oil �ompany Deputy.
<br /> Fees, $ 2. �0
<br /> Commence
<br /> AGREEMENT, Made and entered into this 7 t h day o f 0 c t o b e r , tg ��. , by and betu�een
<br /> George Cowle and Lucy Cowle, nis wife, Route #l, Wood River, Nebraska,
<br /> Party of tlie first part, hereinafter called lessor(whether one or more)and
<br /> The Carter �tll. Company Party o{the second part, �ereinafter called lessee,
<br /> WITN$SSETH, That the said lessor, for and in consideration of Ten a.I7C� no/100 — — — — — — — — — — — — — — — DOLLARS,
<br /> caslt in hand paid, receipt of which is liereby aclznowledged, and of tlie covenants and agreements hereinafter contained on the part of lessee to be paid, kept, and per-
<br /> f ormed, has granted, demisecl, leasecl and let and by tl�ese presents does grant, demise,Iease and Iet unto said lessee,f or the sole and only purpose of mining and operating
<br /> for oil and gas, and laying pipe lines, and building tanks, power stations and structures thereon to procluce,save and take care of said products,alI that certain tract of land
<br /> situatecl in the County of H�11 State of NEBRASKA described as follows, to-wit:
<br /> Tne i�crth half of trie Southwest Quarter (N2 SW�-) , and tre north half of tr�e Bouth half of
<br /> the South�,�es t Quart er (N2�-SW4)
<br /> o� Section 21. Township 9 Tdor th Range Z.2 'J1 @ S�', and containing ].20 acres, more or less.
<br /> lt is agreed that this lease shall remain in f ulI f orce f or a term o f t�r1 years f rom this date, ancl as Iong thereaf ter as oiI or gas, or
<br /> either of them, is produced from said Iand by tlie lessee.
<br />, In consideration of the premises the said lessee covenants and agrees:
<br /> ist. To cleliver to the credit of Iessor, free of cost, in the pipe Iine to which he may connect his wells, the equul one-eighth (3�) part of all oil produced and saved
<br /> f rom the Ieased premises.
<br /> 2ncr. To pay Iessor f or gas f rom each well where gas only is f ound the equal one-eightl� (�/s) o f tl�e gross proceeds at the pre�ailing marizet rate, f or all gas used off
<br /> the premises, sai� paymenfs to be mac�e m o n t hl y
<br /> and Iessor to have gas f ree o f cost f rom any such well f or all stoves and all inside Iights in the principal dwelling house on said Iand during the same time by malting his
<br /> own connections with the well at his own risk and expense. '
<br /> 3rd. To pay lessor for gas produced from any oiI well and used of f the premises or in the manufacture of gasoline or any other procluct a royalty of one-eig�ith
<br /> (�✓s) of the market value, at the moutTi of the well, payable montlily at tlte prevailing market price.
<br /> If no well be commenced on said Iand on or before the 7�r1 day of Oetober , tq �2 , this lease shall
<br /> terminate as to both parties, unless the Iessee on or be f ore that date shall pay or tencIer to the Iessor, or to the Iessor's credit in The Fi r s t St a t e
<br /> Banlz at SheTton; -Nebr�sl�a or its successors, wh�ch shalI continue
<br /> as tTie clepository regardless o f changes in the ownership o f said Iand, the sum o f �1'n ir t y a n d no/100 — �" — — — — — — ' ' — DOLLARS,
<br /> which shall operate as a rentaI and cover the privilege o f def erring the commencement o f a well f or ].2 months f rom said date. In lilze manner and
<br /> upon like payments or tenders the commencement o f a well may be f urther def errecl f or lilze periods o f the same number o f months successi�ely. AII such payments or
<br /> tenders of rentals may be mac�e by checlz or draft of Iessee or any assignee thereof, mailed or delivered on or before tlte rental paying date, either c�irect to lessor or assigns
<br /> or to saicl clepository bank. And 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 all other rights conferred.
<br /> Should tl�e f irst well drilled on the above described land be a dry hole, then, and in that event, if a second well is not commenced on said land within twelve months
<br /> from the expiration of the Iast rental period for whic�, rental has been paid, this lease shall terminate as to both parties, unless the lessee on or before the expiration of
<br /> saic� twelve months shall resume the payment of rentals in the same amount and in the same manner as hereinbefore provided. And it is agreed that upon the resump-
<br /> tion of the payment of rentals, as above provided, tliat the Iast preceding paragraph hereof, governing the payment of rentals and the effect tltereof, shall continue in
<br /> f orce just as thoug� there had �een no interruption in the rental payments.
<br /> 1 f said lessor owns a less interest in tlie above described land than the entire and undivided f ee simple estate therein, then the royalties and rentals herein prouided
<br /> s1iall be pnid the lessor only in the proportion wTiich his interest bears to tlie whole and undivided f ee.
<br /> Lessee shall have tl�e right to use, free of cost, gas, oil, and water produced on said Iand for its operation thereon, except water from wells of Iessor.
<br /> When requested by lessor, lessee shall bury his pipe Iines below plow depth.
<br /> No well shall be drilled nearer than �oo feet to the house or barn now on said premises, without the written consent of the lessor.
<br /> I.essee shall pay f or clamages caused by its operation to growing crops on saicl lantl.
<br /> Lessee shall have the right at any time to remove alI machinery and fixtures placed on said premises, including the rigTit to draw and remove casing.
<br /> If the lessee shall commence to clrill a well witliin the term of fliis Iease or any e xtension thereof, the lessee shall have the rigl�t to drill such well to completion with
<br /> reasonable diligence and dispatch, and if oiI or gas, or eitl�er of them, be found in paying quantities, this lease shall continue and be in force witT� the lilze effect as if
<br /> such well had been completed within t�e term of years herein first mentioned.
<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 h,ereof shall extend to their
<br /> l�eirs, executors, administrators, successors or assigns, but no cliange in tl�e ownership of the land or assignment of rentals or royalties shall be binding on tlie Iessee until
<br /> af ter the lessee has been f urnished wit�i a written trans f er or assignment or a true copy thereo f; ancl it is hereby agreed in the euent this lease sAaII be assigned as to a
<br /> part or as to parts of the above described Iands and the assignee or assignees of such part or parts shall fail or malze default in the payment of tTie proportionate part of
<br /> the rents clue from him or them on an acreage basis, such default shall not operate to defeat or af`ect this Iease in so far as it covers a part or parts of said lands upon
<br /> which tTie said lessee or any assignee thereof shall make due payments of said rentals. If the Ieasecl premises are now or hereafter owned in severalty or in separate tracts,
<br /> the premises, nenertheless, may be deneloped and operated as an entirety, and the royalties sliall be paid to eac{► separate owr�er in the proportion that the acreage owned
<br /> by him bears to the entire Ieasecl' area. There shall be no obligation on the part of t�e Iessee to o{{set wells on separate tracts into w{tich, tlte Iand covered by this lease
<br /> may hereaf ter be c�ivided by sale, devise, or otherwise, or to f urnish separate measuring or receiving tanlzs f or the oiI produced f rom such separate tracts.
<br /> Lessor hereby warrants an�` agrees to defend the title to the lands herein described, and agrees that the lessee shall have the right at any time to redeem for lessor by
<br /> payment, any mortgages, taxes or other Iiens on t�e above described lands, in the euent of cle{ault of payment by lessor, and be subrogated to tlie rigl�ts of the holder
<br /> t�ereof.
<br /> -----------------------------�---------------a�.o rge..�.,_Cowl-�---------..__..._....-----....----........(SEAL)
<br /> Signed. sealed and delivered in presence oF -----------------------------------------�---LucY_...cowle..._......._....-----------.._...--------------.._.._..(sEAL)
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<br /> -----------------------------------------------(SEAL)
<br /> ---------C.A.F1 e etwo o d ------------------------------------------------------------------------------------------�------------------------------�---------.(SEAL)
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<br /> ------------------�------�---------------------------------.._..-----------�-----------------------.._..............__._........--�-------- ---------------------------------------------------------------------------...---..._.....---...---------------------............_..(SEAL)
<br /> --------------�----------....----------------------------�-------- ----...._..._..---------------...._..-------�---------------------� ------------.._..------....._..--•-----------------......---...---•-------•-•----••-----•---------------------�------------......---(SEAL)
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<br /> --�.........................�---�----•-•---•--•-•-----....---------•--._....--- .......-•--•----------------------•---------.................................:.....---------.._.....----•------�-------.............(SEAL)
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