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<br /> B -I- OIL AND GAS LEASE � �
<br /> Form 88r-(Proclucers) (NEBRASKA)
<br /> 21282—The Auguatine Co., County Suppliea, Grand Island, Nebr. '
<br /> FROM THE STATE OF NEBRASKA
<br /> Ss.
<br /> Grand I sland Tru s t Cornpany Hal1 County. ,
<br /> I hereby certif y that this instrument was entered on Numerical Index, and f iled
<br /> for record this 3Q day of October ��j lg 41 . ''
<br /> TO at 9 o'clock A.M. �J�
<br />, (y/� Register of Dee .
<br /> The Carter Oil Com��ny Deputy.
<br /> Fees, $ 2. ��
<br /> Commence
<br /> AGREEMENT, Made and entered into this 9 trl day oF �e t o b e r , 19 4-]_ . by and betu�een
<br /> Grand Islana Trust Cr�mpany, G}�and rsl.and, ivebraska
<br /> Party o f the f irst part, liereinaf ter called lessor(whether one or more)and
<br /> 2'ri @ C a r t e r �j.�. C o mp an y Part y o f the second part, hereinaf ter called lessee,
<br /> WITNESSETH, That the sait�lessor, for ancl in eonsicleration o{ One a.nd No/100 - - - - - - - - - - - - - - - DOLLARS,
<br /> cash in hancl paid, receipt of whiclx is hereby aclznowledged, and of the covenants and agreements liereina(ter contained on the part of lessee to be paic�, Tzept, and per-
<br /> formed, has granted, demised, leased and Iet 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 and gas, and Iaying pipe Iines, anc� building tanlzs, power stations and structures thereon to produce,save and talze care of said products,all that certain tract of land
<br /> � situated in the County of Hall State of NEBRASKA �Iescribec�` as fo�Iows, to-wit:
<br /> Nortn�nrest Quarter (NW��
<br /> of Section T w e n t y ��G� Township N i n e t 9� N Range Tw e 1 v e �12}T,M1� and containing 1,6o acres, more or Iess.
<br /> It is agreed that this lease shall remain in f ulI f orce f or a term of t@ 11 �1�� years f rom this date, and as long thereaf ter as oiI or gas, or
<br /> either of t�em, is procluced from said Iand by the Iessee.
<br /> In consideration of the premises the said lessee covenants and agrees:
<br /> ist. To cleliver to t1�e credit of Iessor, free of cost, in tl�e pipe line to wTiich he may connect his wells, tl�e equal one-eighth (�) part of aII oiI produced and saved
<br /> from the leased premises.
<br /> 2nd. To pay Iessor f or gas f rom each well where gas only is f ound tl�e equal one-eiglitl� f ls) oF the gross proceeds at the prevailing market rate, f or aIl gas used off
<br /> the premises, saicl payments to be made monthly
<br /> anc� lessor to �ave gas f ree of cost f rom any sucTi well f or aII stoves and aII inside Iiglits in tTis principal cZwelling l�ouse on said Iand during the same time by making his
<br /> own connections wit/i the well at �iis own risk and expense.
<br /> grd. To pay Iessor for gas produced from any oil well and used off the premises or in the manufacture of gasoline or any other product a royalty of one-eighth
<br /> (�/a) of the market value, at the mouth of the well, payable monthly at the prevailing marizet price.
<br /> I f no well be commenced on said land on or be f ore the 9 th day o f 0 e t o b er , 19 42 . this Iease shall
<br /> terminate as to both parties, unless the lessee on or before that date shall pay or tender to the lessor, or to the lessor's credit in The Grand I sla.nd �,'Y'U S t,
<br /> Company �mrk at Grand Island, NebruSka. or its successors, which shaIl continue
<br /> as the depository regardless of changes in the ownership o f said land, the sum o( Fo r t y a nd N o/100 - - - - _ _ _ _ _ _ DOLLARS,
<br /> which shall operate as a rental and cover the privilege of deferring t�ie commencement of a well for 1-2 months from said date. In lilte manner and
<br /> upon like payments or tenders the commencement of a well may be {urther deferrecl for liTze periods of the same number of months successively. AIl such payments or
<br /> tenclers of rentals may be made by clieck or draft of lessee or any assignee thereof, mailed or delivered on or before the rental paying date, either direct to lessor or assigns
<br /> or to said depository bank. And it is understood and agreed that the consicIeration f irst recited herein, t�e down payment, covers not only the privileges granted to the
<br /> date when said f irst rental is payable as af oresaid, but also the Iessee's option o f extencling that period as af oresaid, and any and aII other rights conf erred.
<br /> Sliould the f irst well clrillec�on the above described land be a dry hole, tlien, and in that event, if a seconc�well is not commenced on saicl land within twelve months
<br /> f rom the expiration o f the last rental period f or which rental Tias been paicl, this lease shall terminate as to both parties, unless the lessee on or Tig{ore the expiration o f
<br /> saicl twelve montlis shall resume the payment o f rentals in the same amount and in the same manner as hereinbef ore provided. And it is agreed that upon the resump-
<br /> tion of the payment of rentals, as above provic�ec�, t�iat t�e last preeec�ing paragraph hereof, governing the payment of rentals ancl t�e effeet thereof, shall eontinue in
<br /> force just as though there had been no interruption in the rental payments.
<br /> I f said lessor owns a less interest in the aboUe described land than the entire and undivided {ee simple estate therein, then the royalties and rentals herein provided
<br /> shal� be paid th.e Iessor only in tlie proportion which his interest bears to the whole and undivided fee.
<br /> Lessee shall have the right to use, free of cost, gas, oil, and water produced on said land for its operation thereon, except water from wells of lessor.
<br /> When requesteal 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 damages caused by its operation to growing crops on said land.
<br /> Lessee slinll have tl�e right at any time to remove all machinery anc�fixtures placed on said premises, including the riglit to clraw anc�remove casing.
<br /> 1 f the lessee shall commence to drill a welT within the term o}'this lease or any e xtension thereo f, the lessee sl�all have the right to drill such well to completion with
<br /> reasonable diligence and dispatch, and if oiI or gas, or eit�ier of them, be founcl in paying quanfities, this lease shall continue and be in force with tlie Iike effect as if
<br /> sucli well hacl been completed within the term of years herein first mentioned.
<br /> If tlie estate of either party liereto is assigned, and the privilege of assigning in whole or in part is expressly allowec�, the covenants hereof sliall extencl to their
<br /> �ieirs, executors, ac�ministrators, successors or assigns> but no change in the ownership of t�ie lancl or assignment of rentals or royalties shall be bin�Iing on the lessee until
<br />' after the lessee has been furnished with a written transfer or assignment or a true copy thereot; ancl it is �ereby agreed in t�ie event t{tis lease shall be assignecl as to a
<br /> part or as to parts of the above described lands and the assignee or assignees of such part or parts shall fail or malze default in the payment of the proportionate part of
<br /> tT�e rents due from him or them on an acreage basis, such default shall not operate to defeat or affect tTiis lease in so far as it covers a part or parts of said lands upon
<br /> which the said lessee or any assignee thereof shall maTze due payments of said rentals. If the leased premises are now or hereafter owned in severalty or in separate tracts,
<br /> t�e premises. net�ertTieless, mav be developed and operated as an entirety, and the royalties shall be paicl to eac� separate owner in the proportion that the acreage owned
<br /> by him bears to the entire leasecl area. There shal� be no obligation on the part of the lessee to offset wells on separate tracts into which the land covered by this lease
<br /> may hereafter be divided by sale, devise, or otherwise, or to furnish separate measuring or receiving tanks for the oil produced from such separate tracts.
<br /> Lessor hereby warrants and agrees to defend the title to the lands herein described, and agrees that the lessee shall have t�e right at any time to redeem for lessor by
<br /> payment, any mortgages, taxes or other liens on the above described lands, in the event of c�efault of payment by lessor, and be subrogated to the rights of t�,e holder
<br /> thereo f.
<br /> ( CORP)
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