Common use of Option to Lease Clause in Contracts

Option to Lease. During the term of this Agreement, or during the term of any extension hereof, LICENSEE may exercise an option to lease the PREMISES pursuant to the terms and conditions set forth in the Mining Lease attached hereto as EXHIBIT "B" and made a part hereof as though set forth in its entirety. The option to lease shall be deemed exercised when LICENSOR has received a certified check in the amount of Five Thousand Dollars ($5,000.00), together with two (2) copies of EXHIBIT "B" that have been executed by LICENSEE. LICENSOR shall sign one copy and return it promptly to LICENSEE. If LICENSOR is the owner at the date of exercise of this option of less than one hundred percent (100%) of the title to the PREMISES, LICENSOR shall receive an amount equal to LICENSOR's percentage ownership multiplied by Five Thousand Dollars ($5,000.00) pursuant to this paragraph. 49.

Option to Lease. During the term of this Agreement, or during the term of any extension hereof, LICENSEE may exercise an option to lease the PREMISES pursuant to the terms and conditions set forth in the Mining Lease attached hereto as EXHIBIT "B" and made a part hereof as though set forth in its entirety. The option to lease shall be deemed exercised when LICENSOR has received a certified check in the amount of Five Thousand Dollars ($5,000.00), together with two (2) copies of EXHIBIT "B" that have been executed by LICENSEE. LICENSOR shall sign one copy and return it promptly to LICENSEE. If LICENSOR is the owner at the date of exercise of this option of less than one hundred percent (100%) of the title to the PREMISES, LICENSOR shall receive an amount equal to LICENSOR's percentage ownership multiplied by Five Thousand Dollars ($5,000.00) pursuant to this paragraph. 4911.

Option to Lease. During the term of this Agreement, or during the term of any extension hereof, LICENSEE may exercise an option to lease the PREMISES pursuant to the terms and conditions set forth in the Mining Lease attached hereto as EXHIBIT "B" and made a part hereof as though set forth in its entirety. The option to lease shall be deemed exercised when LICENSOR has received a certified check in the amount of Five Thousand Dollars ($5,000.00), together with two (2) copies of EXHIBIT "B" that have been executed by LICENSEE. LICENSOR shall sign one copy and return it promptly to LICENSEE. If LICENSOR is the owner at the date of exercise of this option of less than one hundred percent (100%) of the title to the PREMISES, LICENSOR shall receive an amount equal to LICENSOR's percentage ownership multiplied by Five Thousand Dollars ($5,000.00) pursuant to this paragraph. 4930.