Common use of REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR Clause in Contracts

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the Property is accurately described in Schedule “A”, is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (h) no person, firm or corporation has any proprietary or possessory interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada pursuant to statute; (i) upon request by the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property; and (j) subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-like fashion, will obtain all necessary licenses and permits as shall be necessary and will, file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada).

Appears in 2 contracts

Samples: Property Option Agreement (Patriot Gold Corp), Property Option Agreement (American Goldfields Inc)

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REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the Property is accurately described in Schedule “A”, is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (h) no person, firm or corporation has any proprietary or possessory interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada pursuant to statute; (i) upon request by the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property; and (j) subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-miner- like fashion, will obtain all necessary licenses and permits as shall be necessary and will, file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada).

Appears in 1 contract

Samples: Property Option Agreement (Homeland Precious Metals Corp.)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor representsrepresent, warrants warrant and covenants covenant to and with the Optionee as follows: (a) the Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is they are a party; (db) the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the Property is Claims are accurately described in Schedule "A", is are in good standing under the laws of the jurisdiction in which it is located and is are free and clear of all liens, charges and encumbrancesencumbrances other than those of which the Optionee has been advised in writing; (gc) the Claims have been operated substantially in accordance with all applicable and environmental laws and, to the knowledge of the Optionor there are no environmental conditions existing on the Claims to which any material remedial action is required or any material liability has or may be imposed under applicable environmental law; (d) the Optionor is the sole recorded and beneficial owner owners of the Property Claims and has have the exclusive right to enter into this Agreement and all necessary authority to transfer its their interest in the Property Claims in accordance with the terms of this Agreement; (he) no person, firm or corporation has any proprietary or possessory interest in the Property Claims other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada pursuant to statuteClaims; (if) upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its their possession respecting the PropertyClaims; and (jg) subject to performance by the Optionee of its obligations under Section 4, during the Option Periodcurrency of this Agreement, the Optionor will keep will: (i) not do any act or thing which would or might in any way adversely affect the Property rights of the Optionee hereunder; (ii) not relinquish or abandon all or any part of their interest in good standingthe Claims; (iii) not mortgage, free pledge or encumber the Claims after the Effective Date without the Optionee's prior written consent; and (iv) give the Optionee such access to the Property, at all times at its own risk and clear of all liensexpense, charges and encumbrancesas the Optionee shall determine, will acting reasonably, is necessary to enable it to carry out all Mining Operations on the Property in a miner-like fashion, will obtain all necessary licenses and permits as shall be necessary and will, file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada)terms of this Agreement.

Appears in 1 contract

Samples: Property Option Agreement (North American Nickel Inc.)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the Property is accurately described in Schedule "A", is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (h) no person, firm or corporation has any proprietary or possessory interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada pursuant to statute; (i) upon request by the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property; and (j) subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-like fashion, will obtain all necessary licenses and permits as shall be necessary and will, file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act THE MINES AND MINERALS ACT (Nevada).

Appears in 1 contract

Samples: Property Option Agreement (American Goldfields Inc)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the The Optionor is a company duly organized person validly existing and in good standing under the laws of NevadaNevada and the United States; (b) the The Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither Neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the The execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documentsthereto; (e) the The Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the The Property is accurately described in Schedule “A”, is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the The Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (h) no No person, firm or corporation has any proprietary or possessory possessorty interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada pursuant to statute;; notwithstanding any Federal, State or County royalties or net proceeds tax derived from mining operations. (i) upon Upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property; and. Nothing will be withheld, hidden, or kept from the Optionee, whether the data or information is held or not by the Optionor; (j) subject Subject to performance by the Optionee of its its’ obligations under Section 4, during the Option Period, the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-like fashionfashion if the Optionee elects to use the mining expertise and consulting services of the Optionor, will obtain all necessary licenses and permits as shall be necessary and will, will file all applicable work up to the legal limits as assessment work under The Mines and Minerals Mineral Act (Nevada); and (k) Optionor represents that subject to the paramount title of the United States, Optionor is the sole and only owner of the Property; that each of the unpatented claims included in the Property has been validly located, filed and recorded in compliance with the laws of the State of Nevada and of the United States as they relate to location and recordation of such claims; that Optionor has timely complied with all of the filing provisions of the Federal Land Policy and Management Act as they pertain to the unpatented claims included within the Property and that said claims are valid and subsisting mining claims; that Optionor has performed assessment work or fully and timely paid the applicable claim maintenance fee upon said claims through the assessment year ended September l, 2003, and has recorded and filed proof thereof, all of which work, payments, recordings and filings have been completed in accordance with the applicable state and federal statutes pertaining to assessment work; that Optionor’s rights in the Property are not subject to any prior agreement, encumbrance, burden or restriction created by any act or instrument of Optionor; that to the best of Optionor’s knowledge, the Property is free from liens and encumbrances and other adverse claims by third parties; and that the Property is not burdened with any royalties, overriding royalties, net profits interests or payments on production.

Appears in 1 contract

Samples: Property Option Agreement (Miranda Gold Corp)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the The Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the The Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither Neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the The execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the The Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the The Property is accurately described in Schedule "A", is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the The Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (h) no personNo Person, firm or corporation has any proprietary or possessory interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada in which it is located pursuant to statute;; notwithstanding any Federal or State royalties or net proceeds tax derived from mining operations. (i) upon Upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property. Nothing will be withheld, hidden, or kept from the Optionee, whether the data or information is held or not by the Optionor; and (j) subject Subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-like fashionfashion if the Optionee elects to use the mining expertise and consulting services of the Optionor, will obtain all necessary licenses and permits as shall be necessary and will, will file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada)the laws of the applicable State.

Appears in 1 contract

Samples: Property Option Agreement (Goldfields International Inc)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as followsthat: (a) he is domiciled at the Optionor is a company duly organized validly existing and in good standing under address set forth beside his name on the laws first page of Nevadathis Agreement; (b) the Optionor has full power good and sufficient authority to carry on its business and to enter into and deliver this Agreement and to transfer its legal and beneficial interest in the Property as required under this Agreement to the Optionee; (c) there is no contract, option or any agreement other right of another form binding upon the Optionor to option, sell, transfer, assign, pledge, charge, mortgage, explore or instrument referred in any other way option, dispose of or encumber all or part of the Property or any portion thereof or interest therein other than pursuant to or contemplated by the provisions of this Agreement; (cd) neither the execution execution, delivery and delivery performance of this AgreementAgreement by the Optionor, nor any of the agreements referred to herein or contemplated hereby, nor and the consummation of the transactions hereby herein contemplated will not (i) violate or conflict with any term or provision of any agreements in regard to the property entered into by the Optionor; (ii) violate or conflict with any term or provision of any order of any court, Government or Regulatory Authority or any law or regulation of any jurisdiction in which the Optionor’s business is carried on; or (iii) conflict with, accelerate the performance required by or result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the execution and delivery of this Agreement and the agreements contemplated hereby will not violate party or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documentsby which it is currently bound; (e) the Agreement constitutes a legalOptionor is the registered and beneficial owner of 100% of the right, valid title and binding obligation working interest in and to the Property, which, to the best of the Optionor’s knowledge without having made any inquiries, is free and clear of all Encumbrances except for those Permitted Encumbrances; (f) the Property is properly and accurately described in Schedule “A”, ” hereto and is in good standing under the laws of the jurisdiction in which it the Property is located up to and is free and clear of all liens, charges and encumbrancesincluding at least the expiry dates set forth in Schedule “A”; (g) the Optionor is not a non-resident for the sole recorded and beneficial owner purposes of Section 116 of the Property and has the exclusive right Income Tax Act [R.S.C. 1985], c.1 (5th supp.), as amended from time to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreementtime. ; (h) no personthis Agreement has been duly authorized, firm or corporation has any proprietary or possessory interest in executed and delivered by the Property other than the Optionor, Optionor and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government constitutes a valid and binding obligation of the state Optionor enforceable against the Optionor in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of Nevada pursuant to statute;creditors generally and except as limited by the application of equitable principles when equitable remedies are sought; and (i) upon request by the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property; and (j) subject to performance by the Optionee of its obligations under Section 4shall, during the Option Period, : (i) promptly provide the Optionee with any and all notices and correspondence from Government or Regulatory Authorities in respect of the Property; (ii) co-operate with the Optionee in obtaining any permits or licences required by authorities in the in which the Property is situated; (iii) not do or permit or suffer to be done any act or thing which would or might in any way adversely affect the rights of the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-like fashion, will obtain all necessary licenses and permits as shall be necessary and will, file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada).hereunder; and

Appears in 1 contract

Samples: Mining Option Agreement (Coastal Pacific Mining Corp)

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REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the Property is Properties are accurately described in Schedule “A”, is are in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the Optionor is the sole recorded and beneficial owner of the Property Properties and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property Properties in accordance with the terms of this Agreement; (h) no person, firm or corporation has any proprietary or possessory interest in the Property Properties other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property Properties other than the government of the state of Nevada pursuant to statute; (i) upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the PropertyProperties; and (j) subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor will keep the Property Properties in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property Properties in a miner-like fashion, will obtain all necessary licenses and permits as shall be necessary and will, file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada).

Appears in 1 contract

Samples: Property Option Agreement (American Goldfields Inc)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the The Optionor is a company duly organized validly existing and in good standing under the laws of NevadaCanada; (b) the The Optionor has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (c) neither Neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it is a party; (d) the The execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; (e) the The Agreement constitutes a legal, valid and binding obligation of the Optionor; (f) the The Property is accurately described in Schedule “A”, ” and is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (g) the The Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (h) no personNo Person, firm or corporation has any proprietary or possessory interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada in which it is located pursuant to statute;; notwithstanding any Federal or Provincial royalties or net proceeds tax derived from mining operations. (i) upon Upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property. Nothing will be withheld, hidden, or kept from the Optionee, whether the data or information is held or not by the Optionor; andand Property Option Agreement 7 | Page (j) subject Subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations on the Property in a miner-like fashionfashion if the Optionee elects to use the mining expertise and consulting services of the Optionor, will obtain all necessary licenses and permits as shall be necessary and will, will file all applicable work up to the legal limits as assessment work under The Mines and Minerals Act (Nevada)the laws of the applicable province.

Appears in 1 contract

Samples: Property Option Agreement (Rush Exploration Inc.)

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE OPTIONOR. The Optionor represents, warrants and covenants to and with the Optionee as follows: (a) the Optionor is a company duly organized validly existing and in good standing under the laws of Nevada; (b) the The Optionor has full power and authority to carry on its his business and to enter into this Agreement and any agreement or instrument referred to or contemplated by this Agreement; (cb) neither Neither the execution and delivery of this Agreement, nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it he is a partyparty or by which any of his assets are bound; (dc) the The execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documentsdocuments or any other agreement to which he is a party to or by which any of his assets are bound; (ed) the The Agreement constitutes a legal, valid and binding obligation of the Optionor; (fe) the The Property is accurately described in Schedule "A", is in good standing under the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances; (gf) the The Optionor is the sole recorded and beneficial owner of the Property and has the exclusive right to enter into this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement; (hg) no No person, firm fxxx or corporation has any proprietary or possessory possessorty interest in the Property other than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government of the state of Nevada pursuant to statute;; notwithstanding any Federal, State or County royalties or net proceeds tax derived from mining operations. (ih) upon Upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting the Property. Nothing will be withheld, hidden, or kept from the Optionee, whether the data or information is held or not by the Optionor; and (ji) subject Subject to performance by the Optionee of its obligations under Section 4, during the Option Period, the Optionor Optionee will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all Mining Operations Mineral Exploration Activities on the Property in a miner-like fashion. If the Optionee elects to use the mining expertise and consulting services of the Optionor, the Optionor will obtain all necessary licenses and permits as shall be necessary and will, will file all applicable work up to the legal limits as assessment work under The the Mines and Minerals Mineral Act (Nevada).

Appears in 1 contract

Samples: Option Agreement (Dakota Gold Corp)

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