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Show 84 Gateway Area Lumsden Group Transaction M-32 Instrument: Lease and optiSn - - - Mesa County Date: June 18, 1941 Recorded} Book 399 Grantor; Ray Lewis Page 229 Grantee: Thomas H. Skidmore Claims: (ll) Lumsden #1-3; Thundercloud #1 and 2; Sundance; Sunrise; The Duke; The Captain Jenks; Bellhellen: Buena Vista States consideration: $1.00' and other good and valuable consideration. Price granted by purchase option, $4,000.00 with royalty of 10$ of net mill returns to apply on purchase price and with agreed minimum royalty of $75.00 per month. Documentary stampaj None. Actual consideration: '$4,000,00, which was paid by $1)100.00 royalties which applied on purchase price, $2,400.00 in cash and $500.00 discount for final settlement in advance of required date for remaining payments. Confirmation of transaction: Ray Lewis, Gateway, Colorado, interviewed by W. E. Haldane. Lewis stated that on June 18, 1941 he granted a lease with option for purchase to Thomas H. Skidmore. The terms of the lease and option extended Until July 1, 1945. Lessee agreed to pay 10% of the net mill returns from all ore extracted and sold, with a minimum monthly royalty of $75,00. Purchase option price was set at $4,000.00, with full pa'yment reauired on or before expiration of lease with the provision that all royalties paid under the terms of the lease would apply toward the purchase price. Skidmore assigned his rights under this lease and option to U & V Alloys Corp. U & V Alloys Corp. operated the property and had paid to Lewis royalties amounting to aoDroximately $1,100.00 when U & V Alloys Corp. sold its rights under the lease and option to United States Vanadium |