Common use of Assessment Work Clause in Contracts

Assessment Work. Beginning with the annual assessment work period of September 1, 1998, to September 1, 1999, and for each annual assessment work year commencing during the term of this Agreement, Royal Gold shall perform for the benefit of the Property work of a type customarily deemed applicable as assessment work and of sufficient value to satisfy the annual assessment work requirements, if any, of all applicable federal, state and local laws, regulations and ordinances, and shall prepare evidence of the same in form proper for recordation and filing, and shall timely record and/or file such evidence in the appropriate federal, state and local office as required by applicable federal, state and local laws, regulations and ordinances, provided that if Royal Gold elects to terminate this Agreement or surrender any of the unpatented mining claims which are part of the Property before July 1 of any year, it shall have no further obligation to perform annual assessment work nor to prepare, record and/or file evidence of the same with respect to that year for all of the unpatented mining claims or the surrendered unpatented mining claims, as the case may be. If under applicable federal laws and regulations federal annual mining claim maintenance or rental fees are required to be paid for the unpatented mining claims which constitute all or part of the Property, beginning with the annual assessment work year of September 1, 1998, to September 1, 1999, Royal Gold shall timely and properly pay the federal annual mining claim maintenance or rental fees, and shall execute and record or file, as applicable, proof of payment of the federal annual mining claim maintenance or rental fees and of Owner's intention to hold the Property, provided that if Royal Gold elects to terminate this Agreement or surrender any of the unpatented mining claims which are part of the Property before July 1 of any year, it shall have no further obligation to pay the fees and record or file proof of payment of the fees with respect to that year for all of the unpatented mining claims or the surrendered unpatented mining claims, as the case may be.

Assessment Work. Beginning with the annual assessment work period ending on August 31, following the effective date of September 1, 1998, to September 1, 1999this Agreement, and for each annual assessment work year commencing thereafter, during the term of this Agreement, Royal Gold LESSEE shall perform for pay all applicable Claim Maintenance Fees, Filing Fees, Recording Fees, and other fees as may be applicable, and do or cause to be done all other acts to maintain and protect the benefit title of the Property work of a type customarily deemed applicable as assessment work and of sufficient value to satisfy the annual assessment work requirementsProperty. Provided, if any, of all applicable federal, state and local laws, regulations and ordinances, and shall prepare evidence of the same in form proper for recordation and filing, and shall timely record and/or file such evidence in the appropriate federal, state and local office as required by applicable federal, state and local laws, regulations and ordinances, provided that if Royal Gold LESSEE elects to terminate this Agreement or surrender any of the unpatented mining claims which are part of the Property before July May 1 of any year, it shall have no further obligation to perform annual assessment work nor to prepare, record and/or file evidence of the same with respect to that year for all of the unpatented mining claims or the surrendered unpatented mining claims, as the case may be. If under applicable federal laws and regulations federal annual mining claim maintenance or rental fees are required to be paid for the unpatented mining claims which constitute all or part of the Property, beginning with the annual assessment work year of September 1, 1998, to September 1, 1999, Royal Gold LESSEE shall timely and properly pay the federal all appropriate Federal, state and local annual mining claim maintenance or rental fees, and shall execute and record or file, as applicable, proof of such payment of the federal annual mining claim maintenance or rental fees and of Owner's LESSOR’s intention to hold the Property. In all cases LESSEE will make such payments and execute such recordings and filings, provided no later than June 1 of each year. LESSEE will further provide LESSOR with proof of such payments, recordings and filings on or before July 1 of each respective year. Provided that if Royal Gold LESSEE elects to terminate this Agreement or surrender any of the unpatented mining claims which are part of the Property before July May 1 of any year, it shall have no further obligation to pay the fees and record or file proof of payment of the fees with respect to that year for all of the unpatented mining claims or the surrendered unpatented mining claims, as the case may be.