Document:

Amendment No. 3 to Mineral Lease

 Exhibit 10.3 
 AMENDMENT NO. 3 TO MINERAL LEASE 
 THIS AMENDMENT No. 3 to MINERAL
LEASE (“Amendment No. 3”) is made effective the 1st day of July, 2011 (“Effective Date”) and entered into as of the Effective Date by and between the TETLIN VILLAGE COUNCIL, a/k/a TETLIN TRIBAL
COUNCIL (“Tetlin”), an Alaska Native Village corporation organized pursuant to the Alaska Native Claims Settlement Act, 43 U.S.C. §§1601 – 1629 (“ANCSA”), whose address is P.O. Box 797
Tok, AK 99789, and CONTANGO ORE, INC., a Delaware corporation, as successor-in-interest by assignment of JUNEAU EXPLORATION, LP, d/b/a JUNEAU MINING COMPANY (“Juneau”), and authorized to do business in Alaska and having its
principal place of business at 3700 Buffalo Speedway, Suite 960, Houston, TX 77098 (“CORE”). 

RECITALS 

WHEREAS, Tetlin and CORE’s predecessor, Juneau, entered into a Mineral Lease effective July 15, 2008 (the “Original
Lease”), for which a Memorandum of Mineral Lease was recorded on September 19, 2008 in the records of the Fairbanks Recording District: 401, State of Alaska, as document number 2008-019032-0; 

WHEREAS, the Original Lease was amended by (i) Amendment No. 1 to Mineral Lease effective October 1, 2009, for which a
Memorandum of Amendment No. 1 to Mineral Lease was recorded on December 29, 2009 in the records of Fairbanks Recording District, 401, State of Alaska, as document number 2609-025744-0, and (ii) Amendment No. 2 to Mineral Lease
effective June 1, 2011 (the Original Lease, Amendment No. 1 and Amendment No. 2, collectively the “Mineral Lease”); 
 WHEREAS, Tetlin and CORE desire to amend the Mineral Lease as set forth herein; 

NOW THEREFORE, in consideration of the covenants contained herein, the parties agree as follows: 

1. On or about the date hereof, CORE has paid Tetlin $150,000 in consideration of reducing the Production Royalty in Section 3.3 by
an amount equal to 0.50% and Section 3.3(a), (b), (c) and (d) are hereby deleted and the following substituted therefor: 
 “(a) For gold, silver, platinum, palladium, rhodium, ruthenium, osmium, iridium or any other precious metals or gems the amount of the Production Royalty shall be: 

2.25% for the first four years of full scale production from the Subject Lands; 

  
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 3.25% for the fifth, sixth and seventh years of full scale production from the Subject
Lands; and 
 4.25% for the eighth and following years of full scale production from the Subject Lands; 

(b) For all lead, zinc, tungsten or other metallic, non-precious Minerals produced from the Subject Lands, the amount of the Production
Royalty shall be 1.25%; 
 (c) For uranium or coal produced from the Subject Lands, the amount of the Production Royalty shall be
11.75%; and 
 (d) For oil, natural gas and related hydrocarbons produced from the Subject Lands, the amount of the Production
Royalty shall be 15.9167%.” 
 provided, however, Tetlin shall have the option to be exercised on or before July 15,
2020 by written notice to CORE to increase the percentage Production Royalty specified in (a), (b), (c) and (d) above, as amended, by (i) .25% by payment to CORE of $150,000 in cash, or (ii) .50% by payment to CORE of $300,000 in
cash, or (iii) .75% by payment to CORE of $450,000 in cash. 
 2. At the request of CORE, Tetlin shall execute a Memorandum
of Amendment No. 3 to Mineral Lease that shall not disclose consideration or other financial information contained herein. CORE shall be entitled to record the Memorandum in the official records of the Fairbanks Recording District, State of
Alaska. The execution, recording and filing of the Memorandum shall not limit, increase or in any manner affect any of the terms hereof, or any rights, interest or obligations of parties hereto. 

3. The remaining terms and provisions of the Mineral Lease shall remain unchanged and of full force and effect, and except as modified
herein, the terms and provisions of the Mineral Lease shall apply to this Amendment No. 3. 
 (Signature Page Follows)

  
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 TETLIN VILLAGE COUNCIL 

 

									
	By:	 	/s/ DONALD ADAMS	 		 	By:	 	/s/ MICHAEL SAM
	Name:	 	Donald Adams	 		 	Name:	 	Michael Sam
	Title:	 	President	 		 	Title:	 	Vice President

 ATTEST: 
  

									
	By:	 	/s/ ROY DAVID, SR.	 		 	By:	 	/s/ WANDA DAVID
	Name:	 	Roy David, Sr.	 		 	Name:	 	Wanda David
	Title:	 	Sec./Tres.	 		 	Title:	 	Member

  

									
	By:	 	/s/ DIANE JOHN	 		 	By:	 	/s/ WILFRED ADAMS
	Name:	 	Diane John	 		 	Name:	 	Wilfred Adams
	Title:	 	Member	 		 	Title:	 	Member

 CONTANGO ORE, INC. 
 ATTEST: 
  

									
	By:	 	/s/ DAVID L. ROGHEIR	 		 	By:	 	/s/ KENNETH R. PEAK
	Name:	 	David L. Rogheir	 		 	Name:	 	Kenneth R. Peak
	Title:	 	Magistrate	 		 	Title:	 	Chairman and CEO

  
 3Consulting Agreement

 Exhibit 10.8 
 CONSULTING AGREEMENT 
 THIS AGREEMENT is made and entered into as of
October 15, 2010, by and between CONTANGO ORE, INC. (“CORE”) and MR. DONALD ADAMS (“Consultant”). 
 WITNESSETH: 
 WHEREAS, Consultant has special knowledge and experience with
governmental affairs and tribal affairs issues and operates an independent consulting practice or business; and 
 WHEREAS, CORE
seeks part-time assistance and wants to utilize the knowledge and expertise of Consultant in connection with negotiations to lease additional properties with the Sealaska Corporation, the Doyon Corporation and other native tribes and businesses in
Alaska and on State and Federal governmental affairs issues. 
 NOW, THEREFORE, it is agreed as follows: 

1. Consultant shall perform consulting and advisory services for CORE as an independent consultant for a period of twelve months and each
month thereafter unless and until terminated by a notice at least three (3) months in advance of termination, including assistance with governmental affairs and tribal affairs issues in connection with negotiations to lease additional
properties with the Sealaska Corporation, the Doyon Corporation and other native tribes and businesses in Alaska and on State and Federal governmental affairs issues. Areas of work to be addressed by Consultant shall be set forth by Mr. Kenneth
R. Peak, Chairman and Chief Executive Officer of CORE. 
 2. In the performance of this Agreement, the services and the hours
Consultant is to work on any given day will be entirely within Consultant’s control, except that Consultant shall be available to work approximately two hundred (200) hours per year. None of the services or work of Consultant shall relate
in any manner to that certain Mineral Lease dated effective July 15, 2008 by and between the Native Village of Tetlin and Juneau Exploration, L.P. which has assigned its interest in the Mineral Lease to an affiliate of CORE. 

3. It is distinctly and particularly understood and agreed between the parties hereto that the Consultant is an independent contractor.
Thus, neither Consultant nor his employees, if any, shall occupy an employer/employee relationship with CORE. Nothing herein contained shall be construed to be inconsistent with the independent contractor relationship nor shall Consultant or his
employees be entitled to any of the benefits CORE provides to its employees. 
 4. Consultant shall, at its expense, supply all
materials and equipment necessary to carry out the terms of this Agreement. Consultant shall be reimbursed for all approved travel or 

 
living expenses while away from the Native Village of Tetlin, Alaska, in the course of performing this Agreement. 
 5. In consideration of the performance of this Agreement by Consultant, CORE agrees to pay for his services the sum of Five Thousand Dollars ($5,000) on the date hereof and Five Thousand Dollars ($5,000)
each month thereafter. 
 6. This Agreement may not be assigned by Consultant to any party. This written Agreement contains the
entire agreement of the parties, and may not be modified without the written consent of both parties. 
 7. Consultant agrees
that during the term of this Agreement, he may receive confidential business information, data, projections, estimates, and the like. Such information shall be deemed privileged and shall not be divulged to any person, firm or entity except on the
direct written authorization of CORE. Further, upon termination of this Agreement, Consultant shall continue to treat such information as privileged and will not divulge the information received in confidence except upon direct written authorization
of CORE. Inasmuch as Consultant will acquire or have access to information which is of a highly confidential and secret nature, it is understood that Consultant shall not perform similar services for other mineral companies without CORE’s
written approval, during the term of this Agreement. 
 8. Consultant shall indemnify and hold harmless CORE from and against,
and shall assume full responsibility for payment of all wages, state or federal payroll, social security, income or self-employment taxes, with respect to Consultant’s performance of this Agreement. 

9. This Agreement shall be governed by and construed in accordance with the laws of the State of Alaska applicable to contracts made and
to be performed in the State of Alaska. 
 IN WITNESS WHEREOF, the undersigned parties have caused this Agreement to be executed as of the day
and year first above written. 
  

									
	CONTANGO ORE, INC.	 		 	CONSULTANT
				
	By:	 	 /s/ KENNETH R. PEAK
	 		 	 /s/ DONALD ADAMS

	Its Chairman	 		 	Donald AdamsFifth Amendment

 Exhibit 10.1 
 FIFTH AMENDMENT TO “REAL ESTATE PURCHASE AGREEMENT 
 AND ESCROW
INSTRUCTIONS” 
 THIS FIFTH AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS (this “Fifth
Amendment”) is entered into as of September 14, 2011, by and between HESPERIA – MAIN STREET, LLC, a California limited liability company (“Seller”), and TNP SRT TOPAZ MARKETPLACE, LLC, a Delaware
limited liability company (“Buyer”). 
 RECITALS 

WHEREAS, Seller and Buyer, as the assignee of TNP Acquisitions, LLC, are parties to that certain Real Estate Purchase Agreement and
Escrow Instructions dated April 29, 2011 (the “Original Agreement”), as amended by that certain First Amendment thereto dated June 1, 2011 (the “First Amendment”), that certain Buyer’s
Final Approval Notice dated June 10, 2011 (the “Approval Notice”), that certain Second Amendment thereto dated July 15, 2011 (the “Second Amendment”), that certain Third Amendment thereto
dated July 26, 2011 (the “Third Amendment”, and that certain Fourth Amendment thereto dated August 31, 2011 (the “Fourth Amendment,” and together with the Original Agreement, the First
Amendment, the Approval Notice, the Second Amendment, the Third Amendment and the Fourth Amendment, the “Agreement”), with respect to the real property and improvements located in Hesperia, California, commonly known as
14101, 14135, and 14177 Main Street, Hesperia, California 92345, and improved with an approximate 53,259 square foot retail shopping complex, altogether as more particularly described on Exhibit “A” to the Original Agreement
(the “Property”); 
 WHEREAS, the Closing under the Agreement, originally scheduled for
June 20, 2011, was first extended to July 19, 2011, then to August 1, 2011, then to August 31, 2011, and subsequently to September 14, 2011 (the “Closing Date”); 

WHEREAS, Buyer and Seller are now desirous of further extending the Closing Date and to making certain other amendments and modifications
to the Agreement, as more particularly provided below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the promises and mutual agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as set forth below. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Agreement. 

1. Extension of Closing Date. The Closing Date is hereby extended up to, but not beyond, September 23, 2011. Buyer
shall have the right to designate its desired date of Closing (which shall be the day of the Closing) to be any business day up to, but not beyond, September 23, 2011, on not less than two (2) business days advance written notice to
Seller. 
 2. Deposit and Escrow. 

  
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 2.1. By no later than 5 p.m. on Thursday, September 15, 2011, Buyer shall deliver to
Escrow Agent, by wire transfer, the additional sum of $1,000,000 (the “Fourth Additional Deposit”). By no later than 5 p.m. on Friday, September 16, 2011, Escrow Agent shall deliver to Seller by wire transfer, and
without need for additional instructions from Buyer, the Fourth Additional Deposit. Buyer shall execute and deliver to Escrow Agent any supplemental escrow instructions required by Escrow Agent to allow Escrow Agent to timely release the Fourth
Additional Deposit to Seller. 
 2.2. By no later than 5 p.m. on Thursday, September 15, 2011, Buyer shall deliver to
Escrow Agent, by wire transfer, the additional sum of $97,500 (the “Second Per Diem Extension Fee Deposit”). (Buyer and Seller hereby acknowledge that the original Per Diem Extension Fee Deposit provided for in the Fourth
Amendment has, as of September 14, 2011, been utilized by Buyer in full and fully earned by Seller, and that there is no remaining “Per Diem Extension Fee Balance” (as such term is defined in Section 2.4 of the Fourth Amendment)
currently owing to Buyer) By no later than 5 p.m. on Friday, September 16, 2011, Escrow Agent shall deliver to Seller by wire transfer, and without need for additional instructions from Buyer, the Per Diem Extension Fee Deposit in the amount of
$35,000, and such sum shall not be credited to the Purchase Price nor be refundable to Buyer. 
 2.3. The Fourth Additional
Deposit shall be credited against and applied to the Purchase Price on the Closing, and shall be deemed additional liquidated damages to Seller should the Closing fail to occur for any reason other than Seller’s sole default. Should Escrow
Agent fail to receive the entire Fourth Additional Deposit and Second Per Diem Extension Fee Deposit from Buyer by 5 p.m. on September 15, 2011, Buyer shall be deemed to be default under the Agreement and this Fifth Amendment, the Escrow shall
be cancelled, the Agreement and this Fifth Amendment shall terminate (except for those provisions that expressly survive the termination of the Agreement and this Fifth Amendment), and Seller shall retain the previously delivered Deposit, Second
Additional Deposit, and Third Additional Deposit for its own account as liquidated damages. Upon Seller’s receipt of the Fourth Additional Deposit and Per Diem Extension Fee Deposit, such sums, along with the Deposit, the Second Additional
Deposit, the Third Additional Deposit and the Second Per Diem Extension Fee Deposit shall be nonrefundable to Buyer unless a Closing fails to occur due to Seller’s breach or default under the Agreement as amended by this Fifth Amendment (unless
such breach or default is cured by Seller within five (5) business days following Seller’s receipt of Buyer’s written notice specifying the default). In the event a Closing fails to occur due to a Seller’s default or breach and
such default or breach is not timely cured as provided in the prior sentence, the Deposit plus $250,000 of the Second Additional Deposit, the Third Additional Deposit, the Fourth Additional Deposit and the “Second Per Diem Extension Fee Deposit
Balance” (as such term is defined in Section 4.2 below) shall be refundable to Buyer. 
 2.4. Utilizing the Second Per
Diem Extension Fee Deposit, the sum of $10,000 per calendar day (the “Second Per Diem Extension Fee”) shall be deemed additional consideration to Seller for its agreement to extend the Closing beyond September 13, 2011
until the day of the actual Closing, but not later than September 23, 2011; notwithstanding anything to the contrary contained in the Fourth Amendment, the Second Per Diem Extension Fee for September 14, 2011 shall be $10,000, but Buyer
shall be entitled to a credit of $2,500 for that day payable out of the Per Diem Extension Fee Deposit paid by Buyer pursuant to the Fourth 

  
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Amendment. The Second Per Diem Extension Fee shall be non-refundable to Buyer and paid by Escrow Agent to Seller on the Closing and retained by Seller as its sole property, and not
credited against nor applied to the Purchase Price on the Closing; the remaining portion of the Second Per Diem Extension Fee Deposit (the “Second Per Diem Extension Fee Balance”) shall be refunded by Escrow Agent to Buyer
promptly following the Closing or, at Buyer’s election, applied as a credit toward Buyer’s payment of the Purchase Price at Closing. By way of example only, should the actual Closing occur on Tuesday, September 20, 2011, then the
aggregate Second Per Diem Extension Fee payable by Buyer to Seller through Escrow from the Second Per Diem Extension Deposit on the day of the Closing shall be $67,500 (i.e., 6 x $10,000, plus an additional $7,500 for September 14, 2011), and
said $67,500 shall not be credited against nor applied to the Purchase Price; the Second Per Diem Extension Fee Balance of $30,000 shall be refunded by Escrow Agent to Buyer promptly following the Closing, or, at Buyer’s election, applied as a
credit toward Buyer’s payment of the Purchase Price at Closing. 
 3. Buyer’s Default. Section 6.1 of the
Original Agreement is hereby deleted and the following shall be substituted: 
 BUYER’S DEFAULT. IF THE SALE CONTEMPLATED
BY THE AGREEMENT AND FIFTH AMENDMENT IS NOT CONSUMMATED BECAUSE OF A DEFAULT BY BUYER IN ITS OBLIGATION TO PURCHASE THE PROPERTY IN ACCORDANCE WITH THE TERMS OF THE AGREEMENT AS AMENDED BY THE FIFTH AMENDMENT, THEN: (A) THE AGREEMENT AND FIFTH
AMENDMENT SHALL TERMINATE; (B) THE DEPOSIT PLUS THE SECOND ADDITIONAL DEPOSIT PLUS THE THIRD ADDITIONAL DEPOSIT AND FOURTH ADDITIONAL DEPOSIT PREVIOUSLY PAID TO SELLER SHALL BE RETAINED BY SELLER AS LIQUIDATED DAMAGES; AND (C) SELLER AND
BUYER SHALL HAVE NO FURTHER OBLIGATIONS TO EACH OTHER EXCEPT THOSE THAT SURVIVE THE TERMINATION OF THE AGREEMENT AND FIFTH AMENDMENT. BUYER AND SELLER ACKNOWLEDGE THAT THE DAMAGES TO SELLER IN THE EVENT OF A BREACH OF THE AGREEMENT AND FIFTH
AMENDMENT BY BUYER WOULD BE DIFFICULT OR IMPOSSIBLE TO DETERMINE, THAT THE AMOUNT OF THE DEPOSIT PLUS THE SECOND ADDITIONAL DEPOSIT, AND THE THIRD ADDITIONAL DEPOSIT AND FOURTH ADDITIONAL DEPOSIT, PLUS INTEREST, REPRESENTS THE PARTIES’ BEST AND
MOST ACCURATE ESTIMATE OF THE DAMAGES THAT WOULD BE SUFFERED BY SELLER IF THE TRANSACTION SHOULD FAIL TO CLOSE AND THAT SUCH ESTIMATE IS REASONABLE UNDER THE CIRCUMSTANCES EXISTING AS OF THE DATE OF THE FIFTH AMENDMENT AND UNDER THE CIRCUMSTANCES
THAT SELLER AND BUYER REASONABLY ANTICIPATE WOULD EXIST AT THE TIME OF SUCH BREACH. BUYER AND SELLER AGREE THAT SELLER’S RIGHT TO RETAIN THE DEPOSIT PLUS THE SECOND ADDITIONAL DEPOSIT, AND THE THIRD ADDITIONAL DEPOSIT AND FOURTH ADDITIONAL
DEPOSIT, TOGETHER WITH ANY INTEREST AND EARNINGS EARNED THEREON, SHALL BE SELLER’S SOLE REMEDY, AT LAW AND IN EQUITY, FOR BUYER’S FAILURE TO PURCHASE THE PROPERTY IN ACCORDANCE WITH THE TERMS OF THE AGREEMENT AND FIFTH AMENDMENT. HOWEVER,
NOTHING IN THIS SECTION SHALL (i) PREVENT OR PRECLUDE SELLER’S RECOVERY OF REASONABLE 

  
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ATTORNEYS’ FEES OR OTHER COSTS INCURRED BY SELLER PURSUANT TO SECTION 9.8 OF THE ORIGINAL AGREEMENT, OR (ii) IMPAIR OR LIMIT THE EFFECTIVENESS OR ENFORCEABILITY OF BUYER’S
INDEMNIFICATION OBLIGATIONS CONTAINED IN THE ORIGINAL AGREEMENT. SELLER HEREBY WAIVES ANY RIGHT TO AN ACTION FOR SPECIFIC PERFORMANCE OF ANY PROVISIONS OF THIS AGREEMENT AND THE FIFTH AMENDMENT . 

INITIALS                RH    
SELLER                JW    BUYER 
 4. Material Changes. Notwithstanding anything to the contrary contained in the Agreement, from and after the date hereof the risk of a Material Adverse Change in the physical condition of the
Property, or a Material Taking, or a material adverse change in the condition, financial or otherwise, of the Property not caused by Seller, shall be borne by Buyer and not by Seller, and should Buyer fail to effectuate a Closing for any of the
aforementioned reasons, Seller shall retain the Deposit, the Second Additional Deposit, the Third Additional Deposit, the Fourth Additional Deposit, the Per Diem Extension Fee Deposit and the Second Per Diem Extension Fee Deposit for its own account
as liquidated damages. 
 5. D&R Legal Fees. Seller has incurred legal fees to its law firm Donfeld &
Rollman (“D&R”) in the amount of $[        ] for D&R’s review of this Fifth Amendment on Seller’s behalf. At the Closing and as a condition to the Closing, Buyer shall pay said sum
to D&R through Escrow. Buyer understands and acknowledges that notwithstanding its payment of said sum to D&R, D&R represents solely Seller in this transaction and in the preparation and negotiation of this Fifth Amendment, and that
Buyer has been represented in this transaction and in the preparation and negotiation of this Fifth Amendment by the Law Office of Michael F. Sitzer. 
 6. Miscellaneous. Time is of the essence with respect to the parties’ respective duties and obligations under the Agreement and this Fifth Amendment. Except as specifically modified by this
Fifth Amendment, the terms and conditions of the Agreement shall, as amended hereby, continue in full force and effect. This Fifth Amendment may be executed in any number of counterparts and it shall be sufficient that the signature of each party
appear on one or more such counterparts. All counterparts shall collectively constitute a single agreement. In order to expedite the execution and effectiveness of this Fifth Amendment, signatures may be delivered and exchanged by email (pdf scan),
or by facsimile. 
 [SEE SIGNATURES ON FOLLOWING PAGE >>>] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amendment as of the date
first written above. 
  

									
	SELLER:	 	 HESPERIA – MAIN STREET, LLC,
 a California limited liability company,

			
		 	By:	 	 /s/ Robert Herscu

		 		 	Robert Herscu, Manager
		
	BUYER:	 	 TNP SRT TOPAZ MARKETPLACE, LLC,
 a Delaware limited liability company

			
		 	By:	 	TNP Strategic Retail Operating Trust, L.P.,
		 		 	a Delaware limited liability company
		 		 	Its: Sole Member
				
		 		 	By:	 	TNP Strategic Retail Trust, Inc.,
		 		 		 	a Maryland corporation
		 		 		 	Its: General Partner
					
		 		 		 	By:	 	 /s/ James Wolford

		 		 		 	Name: James Wolford
		 		 		 	Title: CFO

  
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