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<br /> B -I- OIL AND GAS LEASE �
<br /> �
<br /> Form 88�--�(Producers) (NEBRASKA)
<br /> 21282—The Auguatine Co., County Suppliea, Grand Island, Nebr.
<br /> gRpM THE STATE OF NEBRASKA
<br /> ss.
<br /> Samuel Borland and wife, County.
<br /> I hereby certify that this instrument was entered on Numerical Index, and filed
<br /> for record this �� day of �Ct�ber i9 �]. ,
<br /> TO at 9:00 o'clock A.M. �,�d, �
<br /> Register of D�
<br /> The Carter Oil �ompany Deputy.
<br /> Fees, $ �.?�
<br /> Commence
<br /> AGREEMBNT, Made and entered into this E�trl day of Oeto�er , tg ��-1,-1 , by and between
<br /> Sa,muel Borland a.nd I�tarie Borl�nd, h�s t��ife, Z'�ood RivAr, Nebraska
<br /> Party of the f irst part,hereinaf ter called lessor(whether one or more)and
<br /> The Carter �s.]. cOT1lp�riy — — — — — — — — — — — — — — — — — — — Part y of the second part, hereinafter called lessee,
<br /> WITNESSETH. T�iat the saicl lessor, for anct in consicleration of �11P., a I?� no%100 — — — — — — — — — — — — — — — — DOLLARS,
<br /> cash in hanc� paid, receipt of which is �ereby acknowledged, and of tlie co�enants and agreements hereinafter contained on the part oF lessee to be paid, kept, and per-
<br /> f ormed, has grantec�, demisecl, Ieased and Iet and by these presents does grant, demise, lease ancl let unto said lessee,f or the sole and only purpose of mining and operating
<br /> for oil and�as, ancl Iaying pipe lines, and building tanks, power stations ancl structures tliereon to produce,save and take care of said proclucts,all that certain tract of land
<br /> situatec�in tTie County of �-j�11, State of NEBRASKA described as follows, to-wit:
<br /> The Nor`,h E�.st �uarter (NE4)
<br /> o f Section 2 O Townsl�ip 9 N o r t h Rangel2 'Vd E�t and containing ]_�� acres, more or less.
<br /> It is agree� t�at this lease shall remain in fuii force f or a term of t en � 10� years f rom this date, ancl as long thereaf ter as oil or gas, or
<br /> either of tltem, rs produced from said Iand 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 Iine to whicli he may connect his wells, tlie equal one-eight�i (�) part of aIl oil produced and saved
<br /> f rom the leased premises.
<br /> �nd. To pay lessor for gas from each well where gas only is found tl�e equal one-eightF► (�/s) of the gross proceeds at the prevailing market rate, for all gas used of f
<br /> the premises, said payments to be macle montnly
<br /> anc�Iessor to have gas f ree o f cost f rom any such well f or all stoves and all inside Iights in tl�e principal clwelling house 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 Iessor for gas produced from any oil well and used of f the premises or in tTie manufacture of gasolfne or any other product a royalty of one-eigFtth
<br /> (�) of the market value, at the mouth of t�e well, payable mont�Iy at the prevailing market price.
<br /> I f no well be commenced on said land on or be f ore the �t rl day o f 0 e t o b e r , ig �}2 , this lease shall
<br /> terminate as to both parties, unless the lessee on or before that date shall pay or tender to tl�e Iessor, or to the Iessor's credit in The First rutc'�.tG
<br /> Bank at $r1 @ 1.t 0 ri� N 2 Or'�.S�a or its successors,which shalI continue:
<br /> as the depository regardless of changes in the ownership of said land, tl�e sum of Forty a.nd I�o/100 — — — — — — — — — — DOLLARS,
<br /> which shall operate as a rental and cover the privilege of deferring the commencement of a well for 1.2 months from said clate. In like manner and
<br /> upon like payments or tenders the commencement of a weld may be further deferred for like periods of t�e same number of months successively. AII such payments or
<br /> tenders of rentals may be made by checlz or draft of Iessee or any assignee thereof, mailed or delivered on or before the rental paying t�ate, either direct to lessor or assigns
<br /> or to said depository 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 aIl other rights conferred.
<br /> Should tl�e f irst well drilled on the above described land be a dry hole, then, and in tliat event, if a second well is not commenced on said Iand within twelve months
<br /> from fhe expiration of the last rental period for which rental has been paid, this lease shall terminate as to both parties, unless the Iessee on or before the e�rpiration of
<br /> said twelve months shall resume the payment of rentals in tF�e same amount and in the same manner as Iiereinbefore provided. And it is agreed that upon tTie resump-
<br /> tion of the payment of rentals, as above provided, that the last preceding paragraph hereof, governing tlie payment of rentals and the effect thereof, shall continue in
<br /> force just as though tliere had been no interruption in the rental payments.
<br /> I f saicl lessor owns a less interest in the above described Iand tl�an the entire and undiuided f ee simple estate therein, then the royalties and rentals herein provided
<br /> shall be p�iicl the lessor only in the proportion which his interest bears to the whole and unclividecl f ee.
<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 requested by lessor, lessee shall bury his pipe lines below plow deptTi.
<br /> No well shall be drilled nearer tlian 20o feet to tlie house or barn now on said premises, wit�out the written consent of the lessor.
<br /> Lessee s{tall pay f or cramages causec� by its operation to growing erops on saicl lancl. �
<br /> Lessee shall have tl�e right at any time to remove all macliinery and fixtures placed on said premises, including the right to draw and remove casing.
<br /> 1 f the lessee shall commence to drill a well within the term o f this lease or any e xtension thereo f, the lessee sltiall have the right to drill such well to completion with
<br /> reasonable diligence and dispatch, and if oil or gas, or either of them, be found in paying quantities, this lease shall continue and be in force with the Iilze effect as if
<br /> such well l�ad been completed within the term of years Iierein first mentioned.
<br /> If the estate of either party Tiereto 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, ac�ministrators, successors or assigns, but no change in the ownership of the lanc� or assignment of rentals or royalties shall be binc�ing on tlie lessee until
<br /> af ter tTie lessee has been f urnisTtec� with a written trans f er or assignment or a true copy thereo f; and it is hereby agreed in the event this lease shall be assigned as to a
<br /> part or as to parts of the above described Iancls and the assignee or assignees of such part or parts sTiall fail or make default in the payment of the proportionate part of
<br /> the rents due from him or them on an acreage basis, such default shall not operate to defeat or affect this Iease in so far as it covers a part or parts of said lands upon
<br /> which the saic� lessee or any assignee thereof sl�all make due payments of said rentals. If the leased premises are now or hereafter owned in severalty or in separate tracts,
<br /> the premises, nevertheless, may be denelopecl and operated as an entirety, and the royalties shall be paid to each separate owner in the proportion tTiat the acreage owned
<br /> by h�im bears to the entire Ieased area. There sTiall be no obligation on the part of tl�e lessee to offset 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 tTie oiI produced f rom such separate tracts.
<br /> Lessor hereby warrants and agrees to de f end the title to tlie lands herein described, and agrees that the lessee shall have the right at any time to redeem f or lessor by
<br /> payment, any mortgages, taxes or other liens on the above described lands, in the event of default of payment by lessor, and be subrogated to the rights of the hoTder
<br /> thereof.
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<br /> Signed, sealed ancl cleliverecl in presenee oj --------------------------------------------i�i��'�.�---BQx�..�:I1�..........--------.......--.------..........._(SEAL)
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