Document:

Utah State Mineral Lease Form-Geothermal Steam, ML 50773

 Exhibit 10.6 
 (6/22/05) 
 MINERAL LEASE NO. ML 50773 
 GRANT: SCH: 1920.00 
 UTAH STATE MINERAL LEASE FORM 
 GEOTHERMAL STEAM 
 THIS MINING
LEASE AND AGREEMENT (the “Lease”) is entered into and is effective as of APRIL 1, 2007, by and between the STATE OF UTAH, acting by and through the SCHOOL AND INSTITUTIONAL TRUST LANDS ADMINISTRATION, 675 East 500 South, Suite 500,
Salt Lake City, Utah 84102 (“Lessor”), and 
 INTERMOUNTAIN RENEWABLE POWER, LLC 
 5152 NORTH EDGEWOOD DRIVE 
 SUITE 375

 PROVO, UT 84604 
 having a business address as
shown above (“Lessee”). 
 WITNESSETH: 
 That the State of Utah, as Lessor, in consideration of the rentals, royalties, and other financial consideration paid or required to be paid by Lessee, and the covenants of Lessee set forth below, does hereby GRANT
AND LEASE to Lessee the exclusive right and privilege to explore for, drill for, mine, remove, transport, convey, cross-haul, commingle, and sell the leased substances covered by this lease and located within the boundaries of the
following-described tract of land (the “Leased Premises”) located in BEAVER County, State of Utah: 
 T30S, R12W, SLB&M.

 SEC. 13:     LOTS 3(35.70), 4(35.74), W 1/2SE 1/4, SW 1/4 
 SEC. 14:     S 1/2 
 SEC. 26:     NW 1/4, S 1/
2 
 SEC. 28:     E 1/2NE 1/4, NE 1/4NW 1/4

 SEC. 29:     S 1/2SW 1/4, NW
 1/4SW 1/4 
 SEC. 30:     LOTS 1(40.22), 2(40.20), 3(40.16), 4(40.14), N 1/2NE 1/4, SW
 1/4NE 1/4, E 1/2NW 1/4, N 1/
2SE 1/4 
 SEC. 32:     E 1/2, NW 1/4 
 Containing 2272.16 acres, more or less.

 Together with the right and privilege to make use of the surface and subsurface of the Leased Premises for uses reasonably incident to the mining of
leased substances by Lessee on the Leased Premises or on other lands under the control of Lessee or mined in connection with operations on the Leased Premises, including, but not limited to, conveying, storing, loading, hauling and otherwise
transporting leased substances; excavating; removing, stockpiling, depositing and redepositing of surface materials; developing and utilizing mine portals and adjacent areas for access, staging and other purposes incident to mining; and the
subsidence, mitigation, restoration and reclamation of the surface. 

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 This Mining
Lease and Agreement is subject to, and Lessee hereby agrees to and accepts, the following covenants, terms, and conditions: 
  

	1.	LEASED SUBSTANCES. 

  

	 	1.1	Geothermal Steam, as Classified and defined in Utah Administrative Code R850-27-100 (collectively “leased substances”). This mineral lease grants Lessee the
right, subject to the terms and conditions set forth herein, to extract the leased substances. In the event that minerals or materials other than the leased substances are discovered during lease operations, Lessee shall promptly notify the Lessor
and shall not further disturb or remove the other minerals or materials without Lessor’s written permission. Upon notifying Lessor of such discovery the Lessee shall have preference in making application to the Lessor for a lease or permit
covering the unleased minerals or materials that are discovered. 

  

	 	1.2	Ore From Adjacent Lands; Transport Fee, Process Fee. Lessee may use mine workings, portals and ore processing facilities located on the Subject Property to transport or
process ore extracted from non-state lands adjacent to or nearby the Subject Property. As a condition of Lessor’s consent to such use of the Subject Property, Lessee shall pay Lessor a fee per ton of ore attributable to non-state lands that is
removed from portals located on the Subject Property and transported offsite or processed on site. Lessee shall also pay Lessor a fee per ton of any other ore that is mined from non-state lands and is transported to the Subject Property for
processing at a facility located upon the Subject Property. Said transport or process fee per ton shall be paid at One-half the leased substances royalty rate as contained in Paragraph 6 of this lease. Lessee shall maintain separate stockpiles of
ore removed from the Subject Property and ores attributable to non-state lands, and shall not commingle such ores. For purposes of this paragraph, weight of ores shall be the “dry weight,” determined by taking moisture content
measurements, and deducting the average moisture from the ore weight, measure at the point of receipt at the mill or other processing facility. For all ore subject to the transport or process fee that is transported for milling or processing during
a particular month, Lessee shall pay transport or process fees to Lessor on or before the end of the next succeeding month. Transport or process fees shall be accounted for separately on the monthly royalty settlement sheet required to be submitted
by Lessee pursuant to paragraph 6.4, Royalty Payment. 

  

	 	1.3	No Warranty of Title. Lessor claims title to the mineral estate covered by this Lease. Lessor does not warrant title nor represent that no one will dispute the title asserted
by Lessor. It is expressly agreed that Lessor shall not be liable to Lessee for any alleged deficiency in title to the mineral estate, nor shall Lessee become entitled to any refund for any rentals, bonuses, or royalties paid under this Lease in the
event of title failure. 

  

	2.	RESERVATIONS TO LESSOR. Subject to the exclusive rights and privileges granted to Lessee under this Lease, and further provided that Lessor shall refrain from taking actions
with respect to the Leased Premises that may unreasonably interfere with Lessee’s operations, Lessor hereby excepts and reserves from the operation of this Lease the following rights and privileges (to the extent that Lessor has the right to
grant such rights and privileges): 

  

	 	2.1	Rights-of-Way and Easements. Lessor reserves the right, following consultation with the Lessee, to establish rights-of-way and easements upon, through or over the Leased
Premises, under terms and conditions that will not unreasonably interfere with operations under this Lease, for roads, pipelines, electric transmission lines, transportation and utility corridors, mineral access, and any other purpose deemed
reasonably necessary by Lessor. 

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	 	2.2	Other Mineral Leases. Lessor reserves the right to enter into mineral leases and agreements with third parties covering minerals other than the leased substances, under terms
and conditions that will not unreasonably interfere with operations under this Lease in accordance with Lessor’s regulations, if any, governing multiple mineral development. 

  

	 	2.3	Use and Disposal of Surface. To the extent that Lessor owns the surface estate of the Leased Premises and subject to the rights granted to the Lessee pursuant to this Lease,
Lessor reserves the right to use, lease, sell, or otherwise dispose of the surface estate or any part thereof, provided that any such actions will not unreasonably interfere with operations under this Lease. Lessor shall notify Lessee of any such
sale, lease, or other disposition of the surface estate. 

  

	 	2.4	Rights Not Expressly Granted. Lessor further reserves all rights and privileges of every kind and nature, except as specifically granted in this Lease, provided that any
actions under such reservations will not unreasonably interfere with operations under this Lease. 

  

	3.	TERM OF LEASE; MINIMUM ROYALTIES; READJUSTMENT. 

  

	 	3.1	Primary Term. This Lease is granted for a “primary term” of ten (10) years from the date hereinabove first written. 

  

	 	3.2	Extension Beyond Primary Term By Production. Subject to Lessee’s compliance with the other provisions of this Lease, this Lease shall remain in effect beyond the primary
term so long as leased substances are being produced in paying quantities, as defined herein, from the Leased Premises, or from lands constituting a mining unit as approved by Lessor in its reasonable discretion. For purposes of this lease,
production of leased substances in paying quantities shall mean the mining and sale of the leased substances during the lease-year in an amount sufficient to cover all operating expenses accruing to the lessee pursuant to the leasehold for that
lease year, including the payment of all taxes and the payment of rentals and royalties accruing to the Lessor. 

  

	 	3.3	Extension Beyond Primary Term By Diligent Development, Financial Investment and Minimum Royalty. In the absence of actual production in paying quantities as set forth in
paragraph 3.2, Extension Beyond Primary Term, this Lease shall remain in effect beyond the primary term only if the Lessee is engaged in diligent operations, exploration or development activity, as well as making a substantial financial investment,
which in Lessor’s sole discretion is calculated to advance development or production of leased substances from the Leased Premises or lands constituting a mining unit as approved by the Director which includes the Leased Premises, and Lessee
pays the annual minimum royalty set forth in Paragraph 3.4, Minimum Royalty, in advance, on or before the anniversary date of the date first written hereinabove. 

  

	 	3.4	Minimum Royalty. Commencing with the n/a year of this lease Lessee shall pay Lessor an annual minimum royalty, in advance, on or before the Effective Date and each
anniversary thereof. The advance annual minimum royalty shall be in the amount of $ n/a. Lessee may credit each lease-year’s minimum royalty payment against actual production royalties accruing during that lease year, but such credit shall not
carry over beyond the lease year in which the advance royalty was paid. Minimum royalties may not be credited against the annual rentals or bonus bids. 

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	 	3.5	Expiration; Cessation of Production. This Lease may not be extended pursuant to paragraph 3.3, Diligent Operations, beyond the end of the twentieth year after the Effective
Date except by the actual production of leased substances in commercial quantities from the Leased Premises or from lands constituting an approved mining unit which includes the Leased Premises, or except by suspension of the Lease pursuant to
Article 17.3, unless otherwise specifically approved in writing by the Director of the Trust Lands Administration in the interest of the trust beneficiaries. After expiration of the primary term, this Lease will expire of its own terms, without the
necessity of any notice or action by Lessor, if: (a) Lessee fails to produce leased substances in accordance with Article 3.2; (b) Lessee ceases to engage in exploration, development, or operations or fails to pay annual advance minimum
royalties in accordance with Article 3.4; or, (c) the Director fails to make a written determination that it is in the interest of the trust beneficiaries to extend this lease. 

  

	 	3.6	Readjustment. At the end of the primary term and at the end of each period of ten (10) years thereafter (“Readjustment Period”), Lessor may exercise its option
to readjust the terms and conditions of this Lease (including, without limitation: rental rates, minimum royalties, royalty rates, valuation methods, and provisions concerning reclamation). Notice of intent to exercise the right to readjust is
timely given by Lessor if mailed prior to the end of the Readjustment Period to the last address set forth for Lessee in Lessor’s files. Lessor shall have up to one year after exercising its option to readjust to review and communicate in
writing the final readjusted terms of the lease. If within thirty (30) days after submission of the readjusted lease terms to the Lessee, the Lessee determines that any or all of the proposed readjusted terms and conditions are unreasonable,
then Lessee shall so notify Lessor in writing and the parties, acting reasonably, shall attempt to resolve the objectionable term or condition. If the parties are unable, acting reasonably, to resolve the matter and agree upon the readjusted terms
and conditions as submitted by Lessor at the end of the Readjustment Period, Lessee shall forfeit any right to the continued extension of this lease, and the lease shall automatically terminate, provided that nothing herein shall be deemed to
preclude Lessee from appealing any readjustment by Lessor pursuant to applicable law. 

  

	4.	BONUS BID. Lessee agrees to pay Lessor an initial bonus bid in the sum of n/a dollars as partial consideration for Lessor’s issuance of this Lease, payable in cash prior
to execution of this lease. The initial bonus bid may not be credited against annual rentals, annual minimum royalties or production royalties accruing pursuant to this lease. 

  

	5.	RENTALS/MINIMUM RENTALS. Lessee agrees to pay Lessor an annual rental of $1.00 for each acre and fractional part thereof within the Leased Premises; provided however, the
minimum annual rental required by this lease shall be $500.00 irrespective of acreage. Lessee shall promptly pay annual rentals each year in advance on or before the anniversary date of the Effective Date. The rental payment for a mineral lease year
may be credited against production royalties only as they accrue for that lease year. The Lessee may not credit rentals paid for one lease year against production royalties accruing to another lease year. Rental payments may not be credited against
minimum royalties or bonus bids accruing to any lease year. 

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	6.	ROYALTIES. 

  

	 	6.1	Production Royalties. Lessee shall pay Lessor a production royalty on the basis of 10% of the Gross Value, f.o.b. the mine, of the leased substances sold under an arm’s
length transaction, bona fide contract of sale or $ n/a per short ton, whichever amount is greater. For purposes of this lease the Gross Value of the leased substances shall mean the actual compensation received by the Lessee, or any affiliated
entity, on the basis of U.S. Dollars, including all payments, bonuses and allowances, received plus the value of all services, payments in kind and all other compensation whether monetary or non-monetary, received by the Lessee from the buyer or
from other parties for the sale or disposal of the leased substances. 

  

	 	6.2	Non-Arms Length Transactions. In the event that Lessee uses, sells or otherwise disposes of leased substances without a non-arm’s-length contract or bill of sale, Lessee
shall promptly notify Lessor of such use, sale or disposal. The Director may then determine and assign the Gross Value to the leased substances for royalty purposes after taking into account spot market prices, the value of similar or like leased
substances reported by other trust lands lessees, the value of like mineral commodities as reported by the United States Geological Survey, and other pertinent economic data regarding the fair market value of the leased substances, f.o.b. the mine.

  

	 	6.3	No Deductions. It is expressly understood and agreed that none of Lessee’s mining, production or processing costs, including but not limited to costs for materials,
labor, overhead, distribution, transportation f.o.b. mine, loading, crushing, processing, or general and administrative activities, may be deducted in computing Lessor’s royalty. All such costs shall be entirely borne by Lessee and are
anticipated by the rate of royalty set forth in this Lease. 

  

	 	6.4	Royalty Payment. For all leased substances that are sold or transported from the leased lands during a particular month, Lessee shall pay royalties to Lessor on or before the
end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold or transported, the gross proceeds accruing to Lessee, and any other
information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.

  

	 	6.5	Suspension, Waiver or Reduction of Rents or Royalties. Lessor, to the extent not prohibited by applicable law, is authorized to waive, suspend, or reduce the rental or
minimum royalty, or reduce the royalty applicable with respect to the entire Lease, whenever in Lessor’s sole judgment it is necessary to do so in order to promote development, or whenever in the Lessor’s sole judgment the Lease cannot be
successfully operated under the terms provided herein and continued operations are in the trust land beneficiaries best interest. 

  

	7.	RECORDKEEPING; INSPECTION; AUDITS. 

  

	 	7.1	 Registered Agent; Records. Lessee shall maintain a registered agent within the State of Utah to whom any and all notices may be sent by Lessor and upon whom
process may be served. Lessee shall also maintain an office within the State of Utah containing originals or copies of all maps, engineering data, permitting materials, books, records or contracts (whether such documents are in paper or electronic
form) generated by Lessee that pertain in any way to leased substances production, output and valuation; mine operations; assays; processing returns; leased substances sales and dispositions; and calculation 

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of royalties from the Leased Premises. Lessee shall maintain such documents for at least seven years after the date of the leased substances production to
which the documents pertain. 

  

	 	7.2	Inspection. Lessor’s employees and authorized agents at Lessor’s sole risk and expense shall have the right to enter the Leased Premises to check scales as to their
accuracy, and to go on any part of the Leased Premises to examine, inspect, survey and take measurements for the purposes of verifying production amounts and proper lease operations. Upon reasonable notice to Lessee, Lessor’s employees and
authorized agents shall further have the right to audit, examine and copy (at Lessor’s expense) all documents described in paragraph 7.1, Registered Agent; Records, whether such documents are located at the mine site or elsewhere. Lessee shall
furnish all conveniences necessary for said inspection, survey, or examination; provided, however, that such inspections shall be conducted in a manner that is in conformance with all applicable mine safety regulations and does not unreasonably
interfere with Lessee’s operations. 

  

	 	7.3	Geologic Information. In the event Lessee conducts core-drilling operations or other geologic evaluation of the Leased Premises, Lessor may inspect core samples, evaluations
thereof, and proprietary geologic information concerning the Leased Premises. Upon request by Lessor, Lessee shall timely provide Lessor with a true and correct copy of all such evaluations, geological reports, drilling logs, assays and interpretive
maps of the leased substances within the leased lands. 

  

	 	7.4	Confidentiality. Any and all documents and geologic data obtained by Lessor through the exercise of its rights as set forth in paragraphs 7.2, Inspection., and 7.3, Geologic
Information., may be declared confidential information by Lessee, in which event Lessor and its authorized agents shall maintain such documents and geologic data as protected records under the Utah Governmental Records Access Management Act or other
applicable privacy statute, and shall not disclose the same to any third party without the written consent of Lessee, or as required under the order of a court of competent jurisdiction requiring such disclosure, provided that Lessor’s
obligations of confidentiality to Lessee shall cease upon termination of this Lease. 

  

	8.	USE OF SURFACE ESTATE. 

  

	 	8.1	Lessor-Owned Surface. If Lessor owns the surface estate of all or some portion of the Leased Premises, at the time of the execution of this Lease, by issuance of this Lease
the Lessee has been granted the right to make use of such lands to the extent reasonably necessary and expedient for the economic operation of the leasehold. Lessee’s right to surface use of Lessor-owned surface estate shall include the right
to subside the surface. Such surface uses shall be exercised subject to the rights reserved to Lessor as provided in paragraph 2, RESERVATIONS TO LESSOR, and without unreasonable interference with the rights of any prior or subsequent lessee of
Lessor. 

  

	 	8.2	Split-Estate Lands. If Lessor does not own the surface estate of any portion of the Leased Premises, Lessee’s access to and use of the surface of such lands shall be
determined by applicable law governing mineral development on split-estate lands, including without limitation applicable statutes governing access by mineral owners to split estate lands, and reclamation and bonding requirements. Lessee shall
indemnify, defend and hold Lessor harmless for all claims, causes of action, damages, costs and expenses (including attorney’s fees and costs) arising out of or related to damage caused by Lessee’s operations to surface lands or
improvements owned by third parties. 

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	9.	APPLICABLE LAWS AND REGULATIONS; HAZARDOUS SUBSTANCES 

  

	 	9.1	Trust Lands Statute and Regulations. This Lease is issued pursuant to, and is subject to, the provisions of Title 53C, Utah Code Annotated, 1953, as amended. Further, Lessee
and this lease are subject to and shall comply with all current and future rules and regulations adopted by the School and Institutional Trust Lands Administration and its successor agencies. 

  

	 	9.2	Other Applicable Laws and Regulations. Lessee shall comply with all applicable federal, state and local statutes, regulations, and ordinances, including without limitation
the Utah Mined Land Reclamation Act, applicable statutes and regulations relating to mine safety and health, and applicable statutes, regulations and ordinances relating to public health, pollution control, management of hazardous substances and
environmental protection. 

  

	 	9.3	Hazardous Substances. Lessee [or other occupant pursuant to any agreement authorizing mining] shall not keep on or about the premises any hazardous substances, as defined
under 42 U.S.C. § 9601(14) or any other Federal environmental law, any regulated substance contained in or released from any underground storage tank, as defined by the Resource Conservation and Recovery Act, 42 U.S.C. § 6991, et seq,
or any substances defined and regulated as “hazardous” by applicable State law, (hereinafter, for the purposes of this Lease, collectively referred to as “Hazardous Substances”) unless such substances are reasonably necessary
in Lessee’s mining operations, and the use of such substances or tanks is noted and approved in the Lessee’s mining plan, and unless Lessee fully complies with all Federal, State and local laws, regulations, statutes, and ordinances, now
in existence or as subsequently enacted or amended, governing Hazardous Substances. Lessee shall immediately notify Lessor, the surface management agency, and any other Federal, State and local agency with jurisdiction over the Leased Premises, of
contamination thereon, of (i) all reportable spills or releases of any Hazardous Substance affecting the Leased Premises, (ii) all failures to comply with any applicable Federal, state or local law, regulation or ordinance governing
Hazardous Substances, as now enacted or as subsequently enacted or amended, (iii) all inspections of the Leased Premises by, or any correspondence, order, citations, or notifications from any regulatory entity concerning Hazardous Substances
affecting the Leased Premises, (iv) all regulatory orders or fines or all response or interim cleanup actions taken by or proposed to be taken by any government entity or private Party concerning the Leased Premises. 

 

	 	9.4	Hazardous Substances Indemnity. Lessee [or other occupant pursuant to any agreement authorizing mining] shall indemnify, defend, and hold harmless Lessor, employees,
officers, and agents with respect to any and all damages, costs, liabilities, fees (including reasonable attorneys’ fees and costs), penalties (civil and criminal), and cleanup costs arising out of or in any way related to Lessee’s use,
disposal, transportation, generation, sale or location upon or affecting the Leased Premises of Hazardous Substances, as defined in paragraph 9.3 of this Lease. This indemnity shall extend to the actions of Lessee’s employees, agents assigns,
sublessees, contractors, subcontractors, licensees and invitees. Lessee shall further indemnify, defend and hold harmless Lessor from any and all damages, costs, liabilities, fees (including reasonable attorneys’ fees and costs), penalties
(civil and criminal), and cleanup costs arising out of or in any way related to any breach of the provisions of this Lease concerning Hazardous Substances. This indemnity is in addition to, and in no way limits, the general indemnity contained in
paragraph 16.1 of this Lease. 

  

	 	9.5	 Waste Certification. The Lessee shall provide upon abandonment, transfer of operation, assignment of rights, sealing-off of a mined area, and prior to lease
relinquishment, certification to the Lessor that, based upon a complete search of all the 

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operator’s records for the Lease, and upon its knowledge of past operations, there have been no reportable quantities of hazardous substances as defined
in 40 Code of Federal Regulations §302.4, or used oil as defined in Utah Administrative Code R315-15, discharged (as defined at 33 U.S.C. §1321 (a)(2)), deposited or released within the Leased Premises, either on the surface or
underground, and that all remedial actions necessary have been taken to protect human health and the environment with respect to such substances. Lessee shall additionally provide to Lessor a complete list of all hazardous substances, hazardous
materials, and their respective Chemical Abstracts Service Registry Numbers, used or stored on, or delivered to, the Leased Premises. Such disclosure will be in addition to any other disclosure required by law or agreement.

  

	10.	BONDING. 

  

	 	10.1	Lease Bond May Be Required. At the time this Lease is executed, Lessor may require Lessee to execute and file with the Lessor a good and sufficient bond or other financial
guarantee acceptable to Lessor in order to: (a) guarantee Lessee’s performance of all covenants and obligations under this Lease, including Lessee’s obligation to pay royalties; and (b) ensure compensation for damage, if any, to
the surface estate and any surface improvements. 

  

	 	10.2	Reclamation Bonding. The bond required by and filed with the Utah Division of Oil, Gas and Mining (“UDOGM”) in connection with the issuance of a mine permit which
includes the Leased Premises may be accepted by the Director to satisfy Lessor’s bonding requirements with respect to Lessee’s reclamation obligations under this Lease; provided, however, upon notice to Lessee, the Lessor may, in its
reasonable discretion, determine that the bond filed with UDOGM is insufficient to protect Lessor’s interests. In such an event the Director shall enter written findings as to the basis for calculation of the perceived insufficiency and enter
an order establishing the amount of additional bonding required. Lessee shall file any required additional bond with Lessor within thirty (30) days after demand by Lessor. Lessor may increase or decrease the amount of any additional bond from
time to time in accordance with the same procedure. 

  

	11.	WATER RIGHTS. 

  

	 	11.1	Water Rights in Name of Lessor. If Lessee files to appropriate water for use in association with this lease or operations upon the Leased Premises, the filing for such water
right shall be made by Lessee in the name of Lessor at no cost to Lessor, and such water right shall become an appurtenance to the Leased Premises, subject to Lessee’s right to use such water right at no cost during the term of this Lease.

  

	 	11.2	 Option to Purchase. If Lessee purchases or acquires an existing water right for use in association with this lease or operations upon the Leased Premises,
Lessor shall have the option to acquire that portion of such water right as was used on the Leased Premises upon expiration or termination of this Lease. The option price for such water right shall be the fair market value of the water right as of
the date of expiration or termination of this Lease. Upon expiration or termination of this Lease, Lessee shall notify Lessor in writing of all water rights purchased or acquired by Lessee for leased substances mining operations on the Leased
Premises and its estimate of the fair market value of such water right. Lessor shall then have forty-five (45) days to exercise its option to acquire the water by payment to Lessee of the estimated fair market value. If Lessor disagrees with
Lessee’s estimate of fair market value, Lessor shall notify Lessee of its disagreement within the 45 day option exercise period. The fair market value of the water right shall then be appraised by a single appraiser 

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mutually acceptable to both parties, which appraisal shall be final and not subject to review or appeal. If the parties cannot agree upon the choice of an
appraiser, the fair market value of the water right shall be determined by a court of competent jurisdiction. Conveyance of any water right pursuant to this paragraph shall be by quit claim deed. 

  

	12.	ASSIGNMENT OR SUBLEASE; OVERRIDING ROYALTIES. 

  

	 	12.1	Consent Required. Lessee shall not assign or sublease this Lease in whole or in part, or otherwise assign or convey any rights or privileges granted by this Lease, including,
without limitation, creation of overriding royalties or production payments, without the prior written consent of Lessor, which shall not be unreasonably withheld. Lessee agrees that Lessor, in determining whether to consent to any proposed
assignment, may reasonably consider the proposed assignee’s financial capacity, ability to market and process leased substances, and may refuse to consent to such assignment if, in the Lessor’s reasonable opinion, the proposed assignee
lacks the necessary financial or technical capacity to mine, market and/or process leased substances in a manner comparable to Lessee. Any assignment, sublease or other conveyance made without prior written consent of Lessor shall have no legal
effect unless and until approved in writing by Lessor. Exercise of any right with respect to the Leased Premises in violation of this provision shall constitute a default under this Lease. 

  

	 	12.2	Binding Effect. All of the terms and provisions of this Lease shall be binding upon and shall inure to the benefit of their respective successors, assigns, and sublessees.

  

	 	12.3	Limitation on Overriding Royalties. Lessor reserves the right to disapprove the creation of an overriding royalty or production payment that would, in Lessor’s
reasonable discretion, constitute an unreasonable economic burden upon operation of the Lease. In exercising its discretion to disapprove the creation of an overriding royalty, Lessor shall consult with Lessee and any third parties involved and
shall prepare findings to evidence the basis of its decision. Any transfer in interest which would create a cumulative overriding royalty burden in excess of 20% shall not be approved. 

  

	13.	OPERATIONS. 

  

	 	13.1	Permitting. Before Lessee commences exploration, drilling, or mining operations on the Leased Premises, it shall have obtained such permits and posted such bonds as may be
required under applicable provisions of the Utah Mined Land Reclamation Act and associated regulations. Lessee shall maintain any required permits in place for the duration of mining operations and reclamation. Upon request, Lessee shall provide
Lessor with a copy of all regulatory filings relating to permitting matters. 

  

	 	13.2	Plan of Operations. Prior to the commencement of any exploration, drilling, or mining operations on the Leased Premises, Lessee shall obtain Lessor’s approval of a plan
of operations for the Leased Premises. Lessor may modify the proposed plan of operations as is needed to insure that there is no waste of economically recoverable mineral reserves contained on the Leased Premises. In this context “waste”
shall mean the inefficient utilization of, or the excessive or improper loss of an otherwise economically recoverable mineral resource. Lessor shall notify Lessee in writing of its approval or modifications of the plan of operations. The plan of
operations submitted by Lessee shall be deemed approved by Lessor if Lessor has not otherwise notified Lessee within sixty (60) days of filing. 

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	 	13.3	Plan of Operations - Modification. In the event that material changes are required to the plan of operations during the course of mining, Lessee shall submit a modification
of the plan of operations to the Lessor. Routine adjustments to the plan of operations based upon geologic circumstances encountered during day-to-day mining operations do not require the submission of a modification. If the proposed changes require
emergency action by Lessor, then the Lessee shall so notify the Lessor at the time of submission of the modification and the parties shall use their best efforts to meet the Lessee’s time schedule regarding implementation of the changes.
Non-emergency modifications will be reviewed promptly by Lessor to insure that there is no waste of economically recoverable mineral reserves pursuant to the plan of operations, as modified, and Lessor shall notify lessee in writing of its approval
or modification of the proposed modification. Modifications shall be deemed approved by Lessor if Lessor has not otherwise notified Lessee within thirty (30) days of filing. 

  

	 	13.4	Mine Maps. Lessee shall maintain at the mine office clear, accurate, and detailed maps of all actual and planned operations. Such maps shall be certified by an engineer or
geologist who is professionally licensed by the State of Utah or by a state having a reciprocal licensing agreement with the State of Utah. Lessee shall provide copies of such maps to Lessor upon request. 

  

	 	13.5	Good Mining Practices. Lessee shall conduct exploration and mining operations on the Leased Premises in accordance with standard industry operating practices, and shall avoid
waste of economically recoverable leased substances. Lessee shall comply with all regulations and directives of the Mine Safety and Health Administration or successor agencies for the health and safety of employees and workers. Leased substances
shall be mined from this Lease by underground methods only. 

  

	 	13.6	Mining Units. Lessor may approve the inclusion of the Leased Premises in a mining unit with federal, private or other non-state lands upon terms and conditions that it deems
necessary to protect the interests of the Lessor, including without limitation segregation of production, accounting for commingled leased substances production, and minimum production requirements or minimum royalties for the Leased Premises.

  

	14.	EQUIPMENT; RESTORATION. 

  

	 	14.1	Equipment. Upon termination of this Lease, Lessee shall remove, and shall have the right to remove, all improvements, equipment, stockpiles, and dumps from the Leased
Premises within six (6) months; provided, however, that Lessor may, at Lessor’s sole risk and expense, and subject to Lessee’s compliance with requirements imposed by UDOGM and MSHA, require Lessee to retain in place underground
timbering supports, shaft linings, rails, and other installations reasonably necessary for future mining of the Leased Premises. All improvements and equipment remaining on the Leased Premises after six (6) months may be deemed forfeited to
Lessor upon written notice of such forfeiture to Lessee. Lessee may abandon underground improvements, equipment of any type, stockpiles and dumps in place if such abandonment is in compliance with applicable law, and further provided that Lessee
provides Lessor with financial or other assurances sufficient in Lessor’s reasonable discretion to protect Lessor from future environmental liability with respect to such abandonment or any associated hazardous waste spills or releases. Lessee
shall identify and locate on the mine map the location of all equipment abandoned on the Lease Premises. 

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	 	14.2	Restoration and Reclamation. Upon termination of this Lease, Lessee shall reclaim the Leased Premises in accordance with the requirements of applicable law, including mine
permits and reclamation plans on file with UDOGM. Lessee shall further abate any hazardous condition on or associated with the Leased Premises. Lessee and representatives of all governmental agencies having jurisdiction shall have the right to
re-enter the Leased Premises for reclamation purposes for a reasonable period after termination of the Lease. 

  

	15.	MULTIPLE MINERAL DEVELOPMENT. 

 The Utah School and
Institutional Trust Lands Administration may designate any lands under its authority as a Multiple Mineral Development Area (MMD). In designated MMDs the Lessor may require in addition to the terms and conditions of this lease such stipulations or
restrictions as may be necessary in the determination of the Director to integrate and coordinate the operations of lessees having an interest in the lands in order to conserve natural resource and optimize revenues to the trust-land beneficiaries.

  

	16.	DEFAULT 

  

	 	16.1	Notice of Default; Termination. Upon Lessee’s violation of or failure to comply with any of the terms, conditions or covenants set forth in this Lease, Lessor shall
notify Lessee of such default by registered or certified mail, return receipt requested, at the last address for Lessee set forth in Lessor’s files. Lessee shall then have thirty (30) days, or such longer period as may be granted in
writing by Lessor, to either cure the default or request a hearing pursuant to the Lessor’s administrative adjudication rules. In the event Lessee fails to cure the default or request a hearing within the specified time period, Lessor may
cancel this Lease without further notice to or appeal by Lessee. 

  

	 	16.2	Effect of Termination. The termination of this Lease for any reason, whether through expiration, cancellation or relinquishment, shall not limit the rights of the Lessor to
recover any royalties and/or damages for which Lessee may be liable, to recover on any bond on file, or to seek injunctive relief to enjoin continuing violations of the Lease terms. No remedy or election under this Lease shall be deemed exclusive,
but shall, wherever possible, be cumulative with all other remedies available under this Lease, at law, or in equity. Lessee shall surrender the Leased Premises upon termination; however, the obligations of Lessee with respect to reclamation,
indemnification and other continuing covenants imposed by this Lease shall survive the termination. All fees, rentals and monies of any type previously paid by the Lessee to the Lessor are forfeited to the trust. 

  

	17.	MISCELLANEOUS PROVISIONS. 

  

	 	17.1	Indemnity. Except as limited by paragraph 7.2, Inspection, Lessee shall indemnify and hold Lessor harmless for, from and against each and every claim, demand, liability,
loss, cost, damage and expense, including, without limitation, attorneys’ fees and court costs, arising in any way out of Lessee’s occupation and use of the Leased Premises, including without limitation claims for death, personal injury,
property damage, and unpaid wages and benefits. Lessee further agrees to indemnify and hold Lessor harmless for, from and against all claims, demands, liabilities, damages and penalties arising out of any failure of Lessee to comply with any of
Lessee’s obligations under this Lease, including without limitation reasonable attorneys’ fees and court costs. Lessee may be required to obtain insurance in a type and in an amount acceptable to Lessor, naming the Trust Lands
Administration, its employees, its Board of trustees and the State of Utah as co-insured parties under the policy. 

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	 	17.2	Interest. Interest shall accrue and be payable on all obligations arising under this Lease at such current rate as may from time to time be enacted by the Director and
recorded in the Director’s Minutes of the School and Institutional Trust Lands Administration. Interest shall accrue and be payable, without necessity of demand, from the date each such obligation shall arise. 

  

	 	17.3	Suspension. In the event that Lessor in its reasonable discretion determines that suspension is necessary in the interests of conservation of the leased substances; that
prevailing market conditions for the leased substances render continued operation of the subject property uneconomic, or if Lessee has been prevented from performing any of its obligations or responsibilities under this Lease or from conducting
mining operations by labor strikes, fires, floods, explosions, riots, acts of terrorism, any unusual mining casualties or conditions, Acts of God, government restrictions or orders, severe weather conditions, or other extraordinary events beyond its
control, then the time for performance of this Lease by Lessee shall be suspended during the continuance of such conditions or acts which prevent performance, excepting any payments due and owing to Lessor. 

  

	 	17.4	Consent to Suit; Jurisdiction. This Lease shall be governed by the laws of the State of Utah. Lessor and Lessee agree that all disputes arising out of this Lease shall be
litigated only in the Third Judicial District Court for Salt Lake County, Utah, and Lessee consents to the jurisdiction of such court. Lessee shall not bring any action against Lessor without exhaustion of available administrative remedies and
compliance with applicable requirements of the Utah Governmental Immunity Act. 

  

	 	17.5	No Waiver. No waiver of the breach of any provision of this Lease shall be construed as a waiver of any preceding or succeeding breach of the same or any other provision of
this Lease, nor shall the acceptance of rentals or royalties by Lessor during any period of time in which Lessee is in default be deemed to be a waiver of such default. 

  

	 	17.6	Severability. The invalidity of any provision of this Lease, as determined by a court of competent jurisdiction, shall in no way affect the validity of any other provision
hereof. 

  

	 	17.7	Entire Lease. This Lease, together with any attached stipulations, sets forth the entire agreement between Lessor and Lessee with respect to the subject matter of this Lease.
No subsequent alteration or amendment to this Lease shall be binding upon Lessor and Lessee unless in writing and signed by each of them. 

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 IN WITNESS WHEREOF, the
parties have executed this Lease as of the date hereinabove first written. 
  

											
		 		 		 	THE STATE OF UTAH, acting by and through the SCHOOL AND INSTITUTIONAL TRUST LANDS ADMINISTRATION (“LESSOR”)
	APPROVED AS TO FORM:	 		 		 	
	            MARK L. SHURTLEFF	 		 	KEVIN S. CARTER, DIRECTOR
					
	    ATTORNEY GENERAL	 		 		 		 	
	 By: 
	 	 

	 		 	By: 	 	 

	 	 		 		 	THOMAS B. FADDIES
	 	 		 		 	 ASSISTANT DIRECTOR/MINERALS
 School &
Institutional Trust Lands Administration - LESSOR

		 		 		 		 	
	Form Approved: 6-27-08	 		 		 	
		 		 		 	LESSEE:
					
		 		 		 	By: 	 	 

					
		 		 		 	Its: 	 	 

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	 STATE OF UTAH
	  	)	  	
		  	 :
	  	
	 COUNTY OF SALT LAKE
	  	)	  	

 On the 11th day of April, 2007, personally appeared before me THOMAS B. FADDIES who duly sworn did say that he is Assistant Director of the School &
Institutional Trust Lands Administration of the State of Utah and the signer of the above instrument, who duly acknowledged that he executed the same. 
 Given under my hand and seal this 11th
 day of April, 2007. 
  

	
	 

	 NOTARY PUBLIC, residing at:

  

					
	 My Commission Expires:
	  	5/25/2010	  	

	 STATE OF
	  	)	  
		  	:	  
	 COUNTY OF
	  	)	  

 On the 9th day of April, 2007, personally appeared before me Steven R. Brown, signer of the above instrument, who duly acknowledged to me that he executed the same. 
 Given under my hand and seal this 9th day of April, 2007. 
  

	
	 

	 NOTARY PUBLIC, residing at:

  

					
	 My Commission Expires:
	  	09-07-2010	  	

	 STATE OF UTAH
	  	)	  
		  	:	  
	 COUNTY OF UTAH
	  	)	  

 On the      day of
            , 20    , personally appeared before me             
            , who being duly sworn did say that he is an officer of                     
and that said instrument was signed in behalf of said corporation by resolution of its Board of Directors, and said                      acknowledged
to me that said corporation executed the same. 
 Given under my hand and seal this      day of
            , 20    . 
  

	
	  

	 NOTARY PUBLIC, residing at:

 My Commission Expires:Geothermal Resources Lease, dated as of September 25, 2007

 Exhibit 10.7 
 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED FROM PUBLIC FILING PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT SUBMITTED TO THE U.S. SECURITIES AND EXCHANGE COMMISSION. THE
OMITTED INFORMATION, WHICH HAS BEEN IDENTIFIED WITH THE SYMBOL “[***],” HAS BEEN FILED SEPARATELY WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 GEOTHERMAL RESOURCES LEASE 
 (Minersville Land and Livestock–Surface Lands Retained by 
 Lessor) 
 THIS GEOTHERMAL RESOURCES LEASE (“Lease”), entered into this 25th day of September, 2007, by and between MINERSVILLE LAND AND LIVESTOCK COMPANY, a Utah corporation (collectively, “Lessor”), and INTERMOUNTAIN
RENEWABLE POWER, LLC, a Delaware limited liability company (“Lessee”). 
 1. INTEREST GRANTED: 
 The interest granted hereunder is in the geothermal resources estate, and Lessor shall retain the surface estate. In addition, the parties believe that
the Lessor holds an undivided 75% interest in the geothermal resources estate, with the remaining 25% (the “25% Interest”) held by the successors and assigns of Superior Oil Company (per grant from Ronald G. Wilcox). Lessee
shall be responsible for coordinating with the holder of the 25% Interest in leasing such interest. The Production Royalties payable under Section 3(b) shall be proportionately reduced to the extent that Lessor holds less than the full interest
in the geothermal estate (for example, 75% of the [***] and [***] Production Royalties specified in Section 3(b) (i) ) . In the event Lessor re-acquires the 25% Interest, such interest shall be deemed to be leased to Lessee hereunder and
the Production Royalties increased accordingly. In consideration of the covenants and agreements contained herein, Lessor hereby grants and leases to Lessee the exclusive right and privilege to drill for, extract, produce, remove, utilize, sell,
and dispose of all forms of thermal energy and other associated geothermal resources including without limitation: 
 (1) all products of
geothermal processes, including the natural heat of the earth, and the energy, in whatever form, including pressure, present in, resulting from, created by, or which may be extracted from that natural heat, directly or through a material medium
together with indigenous steam, hot water and hot brines; (2) steam and other gases, hot water and hot brines resulting from water, gas, or other fluids, including water and steam naturally present in a geothermal system, artificially
introduced into subsurface formations to serve as a heat transfer medium; (3) natural heat of the earth and the energy associated with that natural heat, and pressure; and (4) all dissolved or entrained minerals, substances or by-products
(“Substances”) that may be obtained from the medium used to transfer that heat, but excluding hydrocarbons and helium (collectively “Geothermal Resources,” which includes Substances except as necessary to separately determine
royalties as provided in Section 3), 
 in, on, under, adjacent to, or associated with those certain parcels of property (the “Premises”)
consisting of approximately eleven thousand two hundred and ninety-four (11,294) acres, as more particularly described as follows : 
 All that certain real property consisting of approximately 11,294 acres located in Beaver County, State of Utah, more particularly described on Exhibit A attached hereto and incorporated herein by reference, including
all interests in said Premises now owned or hereafter acquired, together with: 
 (a) Exploration. The exclusive right
to conduct within the leased area geological and geophysical exploration for Geothermal Resources; 

 (b) Development and Operations. Subject to the approval of Lessor as to
location, not to be unreasonably withheld, the right to construct or erect and to use, operate, and maintain on the Premises, together with ingress and egress thereupon, all wells, pumps, pipes, pipe lines, buildings, plants, sumps, brine pits,
reservoirs, tanks, waterworks, pumping stations, roads, electric power generating plants, transmission lines, industrial facilities, telephone lines, and such other works and structures and to use so much of the surface of the land that may be
reasonably necessary or convenient for the exploration, development, production, utilization, transportation, and processing of Geothermal Resources or for the full enjoyment of the rights granted by this Lease, subject to applicable laws and
regulations; 
 (c) Water. The non-exclusive right to drill water wells, and the exclusive right to drill wells into
Geothermal Resources that contain water, steam and brines, in accordance with Utah statutory laws within the Premises and to use the water produced therefrom for operations and activities hereunder, free of costs, provided that such drilling and
development is conducted in such a way that they do not unreasonably interfere with Lessor’s activities on the Premises; and further that Lessor will use its best efforts to cooperate with Lessee to apply for, appropriate and use water
produced from the Premises (or lands pooled or unitized therewith) in furtherance of developing and conducting operations on the Premises (or lands pooled or unitized therewith). Lessor and Lessee shall evaluate the possibility of providing some
water from geothermal operations for use in livestock watering. 
 (d) Injection. The right, without the payment of
royalties hereunder, to inject or reinject into the leased lands geothermal resources, condensates, gas, treated wastewater or other fluids to the extent that such resources, condensates and fluids are necessary or convenient for operation under
this Lease in the recovery or processing of Geothermal Resources, including to maintain or increase pressure or production or to conduct tests. 
 (e) Directional Drilling. The right to locate a well or wells on the surface of said land and to directional or slant drill said well or wells into, under, across and through the Premises and into and under
other lands in the vicinity of the Premises, together with the right to repair, re-drill, deepen, maintain, inject in, rework and operate or abandon such well or wells for the production of Geothermal Resources from such other lands together with
the right to develop water from said land for any of Lessee’s operations; together with the right to construct, erect, maintain, use, operate, replace, and remove all power generation facilities, transmission facilities, pipe lines, telephone
lines, tanks, machinery, and other facilities; together with all other rights necessary or convenient for Lessee’s operations under this subsection including rights of way for passage over and upon and across and ingress and egress to and from
said Premises; together with the right and easement to continue to use such items, as well as rights of way and/or easements appurtenant thereto, so long as Lessee 

  

 2 

 
utilizes Geothermal Resources from such other land in the vicinity of the Premises, notwithstanding the expiration, termination or forfeiture of this Lease,
until such use is permanently discontinued. Upon the written request of Lessee, Lessor agrees to provide separate easements or rights-of-ways, in form sufficient for recording in the applicable county real property records, to evidence such surface
rights in this Section l(e). If the Lessor fails to provide such written easements within thirty (30) days of Lessee’s written request, Lessor authorizes Lessee to unilaterally prepare and execute such easements and record the same in the
applicable county’s real property records. Should Lessee elect to unilaterally execute such easements, the nature, scope and duration of such easements as described in the executed document shall accurately and reasonably reflect the existing
uses in relation to Lessee’s surface and underground operations on the Premises (or on lands pooled and unitized therewith). 
 2.
TERM: 
 (a) Initial Term, As Extended. This Lease shall have a term of TEN (10) years from the date first set forth above
(the “Initial Term”) and shall continue for so long thereafter as: 
 (i) Lessee is extracting or drilling for
Geothermal Resources on the Premises (or lands pooled or unitized with the Premises), working with reasonable diligence, allowing not more than TWENTY-FOUR (24) months between the completion or abandonment of one site/well and the exploration
and/or commencement of operations for the next; 
 (ii) Geothermal Resources are being produced or generated from the Premises
(or lands pooled or unitized with the Premises) in commercial quantities or steps are being taken to develop the Premises in such a way as to produce or generate from the land commercial quantities; 
 (iii) Remedial Operations are being continuously conducted on the Premises (or lands pooled or unitized with the Premises); 
 (iv) Drilling operations, commercial production of Geothermal Resources, or Remedial Operations are suspended or excused under the Force
Majeure or other provisions of this Lease; or 
 (vi) this Lease is otherwise extended by its terms. 
 “Remedial Operations” means reworking, redrilling, cleaning, testing, and the repair and replacement of wells and facilities for the production or use of
Geothermal Resources. Remedial Operations shall be deemed continuous so long as such operations do not cease for a period of more than two (2) consecutive years. Production in “commercial quantities” shall mean production in such
quantities of Geothermal Resources, produced, sold, or used, or capable of being produced, sold, or used, either from the Premises or lands pooled or unitized therewith, the value of which, after deducting Lessor’s royalty hereunder and
Lessee’s normal operating costs will provide to Lessee a return of such costs. 
  

 3 

 (b) Unit Contraction. In the event this Lease is committed to a unit or other pooling arrangement,
and this Lease is later removed from such unit by contraction of the unit boundaries or any participating area while the Lease is in an extended term beyond the Initial Term or within five (5) years of the end of the Initial Term, then the
Initial Term of this Lease shall be extended for a period of five (5) years from the date the Lease is removed from such unit or other pooling arrangement. In the event of an extension pursuant to this subsection (c), the Lessee is authorized
to unilaterally execute and record a notice of extension of the Lease, to provide public notice of such extension. 
 3. RENTALS AND
ROYALTIES: 
 (a) Initial Payment; Rentals. On the date hereof, and subject to confirmation of clear title to the Geothermal
Resources, Lessor shall pay to Lessee the sum of [***]. On or before each anniversary date hereafter while the Lease is in force, Lessee agrees to pay to Lessor as rental for the next ensuing year the sum of [***] per acre; provided, however, that
rentals paid to Lessor under this subsection shall apply toward or be credited to royalties payable or to become payable on actual production (if any) under Section 3(b) for any year such rentals are paid. To the extent a portion of the
original acreage of this Lease is lost or surrendered by the Lessee, the Annual Rental shall be reduced proportionately. 
 (b) Production
Royalties. Subject to Section 11 below, and subject to proportionate reduction as described in Section 1 and in Section 3(d), Lessee shall pay to Lessor a royalty out of the proceeds received by Lessee from the sale of Geothermal
Resources or Substances produced from the Premises, or allocated to the Premises as provided in Sections 6 and/or 10(b) as follows: 
 (i) Power Generation. If Lessee utilizes Geothermal Resources to generate and sell electric
power, a royalty of [***] of the gross proceeds of the sale of said electric power for the first [***] years from the first sale of electricity and [***] thereafter, in each case less Deductible Costs (as defined in Section 3(b) (vi));

 (ii) Sale of Substances. If Lessee sells any Substances as such, a royalty of [***] of the gross proceeds of the sale of said
Substances for the first [***] years from the first sale of Substances and [***] thereafter, in each case less Deductible Costs; 
 (iii) Sale of By-Products. If Lessee treats or processes or causes to be processed, any Substances and/or Geothermal Resources for the extraction or manufacture therefrom of any by-products, and sells any by-products, a gross royalty
of [***] of the proceeds from the sale by Lessee of said by-products, less Deductible Costs; 
 (iv) Other Commercial. If Lessee
uses Geothermal Resources and/or Substances at a commercial facility other than an electric power generating facility, a royalty of [***] of the net profits produced by such commercial operation, net profits being the proceeds generated by
Lessee, less all associated costs to Lessee including but not limited to any plant, facility and/or operational costs and of any transmission or transportation to the point of use if used off the Premises or off of any area pooled or unitized with
the Premises (the “Unit Area”), as the case may be. 
  

 4 

 (v) Internal Use. Lessee may use, free of royalty, Substances, Geothermal Resources, electric
power and by-products developed from the Premises for all operations hereunder (or operations within any Unit Area), and Lessee shall not be required to account to Lessor for or pay royalty on any Substances, Geothermal Resources, electric power or
by-products reasonably lost or consumed in operations hereunder. 
 (vi) Deductible Costs. For purposes of Sections
3(b)(i)-(iii) above, “Deductible Costs” shall mean: 
 (A) any sales, excise or other taxes imposed on the sale of any said
electric power, Substances, or by-products, as the case may be, so sold or which are required to be included in or added to the sales price thereof or paid by the seller; and 
 (B) any cost to Lessee of any transmission or transportation to the point of sale of any of said electric power, Substances or by-products so sold, if
sold off the Premises or the Unit Area, as the case may be; and 
 (C) assuming Lessee does not use electricity generated from the
geothermal plant(s) for such requirements, the reasonable and standard cost of any electricity purchased by Lessee from unaffiliated third parties to operate the geothermal well field pumps or serve other parasitic loads of the geothermal gathering
field or the generating plant(s). 
 (vii) Payment. Lessee shall pay Lessor, on or before the last day of each and every calendar
month, the above production royalties accrued and payable for the preceding calendar month (“Payment Date”), and shall deliver to Lessor a statement setting forth the basis for the determination of such royalty. Notwithstanding anything to
the contrary, Lessor agrees that the Payment Date shall be adjusted to coincide with billing procedures set forth in any applicable power purchase agreements, whether monthly, bi-monthly, quarterly, or otherwise. 
 (c) Directional Drilling and Other Surface Use Rentals. If Lessee exercises the directional drilling rights granted in Section 1(e), or if
Lessee is using part of the surface of the Premises for unit or other operations and the Lease is terminated or surrendered (including without limitation, in the event the Lease is committed to a unit but is later excluded from such unit by
contraction of the unit or any participation area) Lessor shall not be entitled to any production royalties under Section 3(b), unless, and only to the extent that, such activity constitutes a commingling, pooling or unitization utilizing
Geothermal Resources from the Premises under Section 6. In lieu of any other compensation, Lessee shall pay to Lessor an annual rental computed at the rate of [***] per acre for each surface acre of the Premises being exclusively occupied by
Lessee pursuant to such grant under Section 1(e) and [***] per rod for any roads, utility lines, pipelines, or other linear items associated therewith. 
 (d) Proportionate Reduction. In the event Lessor at the time of making this Lease owns an interest in the leased Premises that is less than one hundred per cent of the total rights in the geothermal estate,
then the rentals, royalties and other consideration 

  

 5 

 
accruing hereunder shall be paid to Lessor only in the same proportions which Lessor’s interest bears to a one hundred per cent interest in the leased
Premises. Notwithstanding the foregoing, should Lessor hereafter acquire any additional right, title or interest in or to the leased Premises, it shall be subject to the provisions hereof to the same extent as if owned by the Lessor at the date
hereof, and any increase in payments of money hereunder necessitated thereby shall commence with the payment next following receipt by Lessee of satisfactory evidence of Lessor’s acquisition of such additional interest. 
 4. TAXES AND ASSESSMENTS: 
 (a)
Taxes and Improvements. Lessee shall pay all taxes levied and assessed against Lessee’s leasehold interest in the Premises. Lessee shall pay all taxes levied and assessed against all structures, improvements and personal property placed
upon the Premises by Lessee. Lessor shall pay all taxes levied and assessed against the Premises as such and against any rights thereto not covered by the Lease and shall pay all taxes levied and assessed against all structures and improvements
placed on the Premises by Lessor. Any increase in taxes arising from geothermal operations on the Premises shall be paid by Lessee. 
 (b) Severance Taxes on Lessor’s Royalties. Lessor agrees to pay any and all taxes assessed upon Lessor’s royalty proceeds for any Substances and/or Geothermal Resources produced and sold by Lessee from the Premises and ad
valorem taxes on Substances and/or Geothermal Resources together with the same share of all severance, production, net proceeds and license taxes or other taxes or assessments levied or assessed on account of the production of Substances and/or
Geothermal Resources from or allocated to the Premises, and to pay all of any other taxes assessed against the Premises, whether the same are assessed to Lessor or Lessee or otherwise. Lessor shall pay all of its tax obligations within thirty
(30) days of when due and shall provide Lessee, upon request, with evidence of such payment. Lessor grants Lessee the right, but not the obligation, to pay any of Lessor’s tax obligations hereunder, and to offset the amount of such
payments made on Lessor’s behalf against any amounts due to Lessor under this Lease, with interest at [***]. 
 5. PROTECTION OF
SURFACE; LAWS; LIENS; EQUIPMENT 
 (a) Protection of Surface; Compensation for Damage. Lessee agrees to conduct its activities in a
good and workmanlike manner and use reasonable care at all times in all of Lessee’s operations on the Premises to prevent injury or damage to cattle, livestock, buildings, water rights, water diversion works, ditches, tanks and water wells or
other property of the Lessor located thereon; and Lessee agrees to repair, mitigate or pay the Lessor the fair market value (as determined by an independent third-party appraiser) for all damages to the cattle, crops, buildings, livestock,
fences, water rights, water diversions, ditches, tanks, water, water wells and other property of the Lessor situated on the surface of the Premises resulting from Lessee’s operations on the Premises. Lessee also agrees that all damages to pipe
and equipment caused by cattle shall be the responsibility of Lessee. 
 (b) Compliance with Laws. Lessor and Lessee each agree
that they will conduct all activities and operations associated with the Premises and with this Lease at all times in accordance with applicable federal, state and local laws, rules and regulations. 
  

 6 

 (c) Liens. All labor to be performed and material to be furnished in the operations under this
Lease shall be at the sole cost and expense of Lessee, and Lessee shall hold Lessor free and harmless from liability thereunder. Lessee and Lessor shall each keep the Premises fully protected against any and all liens of every character arising from
or connected with their individual operations on the Premises. Lessor agrees not to permit any mortgage or other lien to be placed on the property that would affect or purport to affect or supersede Lessee’s interest under this Lease. Lessor
acknowledges and agrees that Lessee, in order to pursue its activities hereunder may utilize various project, equipment and other financing options and as part of such financings Lessee may assign its interests under this Lease (whether for security
purposes or as a full and complete assignment). To the extent the Premises are currently encumbered by a mortgage, deed of trust, or other lien created by Lessor, Lessor shall use its best efforts to obtain a subordination, in recordable form, of
such encumbrance to this Lease. 
 (d) Reclamation. Within six (6) months after abandonment of any well, including those
abandonments resulting from termination of this Lease, Lessee shall remove all machinery, material, and structures used in connection with said well and not used in its other operations, if any, on the Premises, and shall fill in and level off all
excavations, pits, or other alterations to the surface of the Premises caused in connection with said well, and, insofar as practical, shall, restore the Premises and the means of ingress and egress in compliance with all requirements of applicable
reclamation laws and regulations, except reasonable wear and tear, acts of nature and conditions beyond the control of Lessee. 
 (e)
Equipment and Improvements. Lessor agrees that Lessee shall retain ownership of, and can remove at any time, any and all improvements, equipment, fixtures and property of any kind brought onto or attached or affixed to the Premises, including
all well casings, pipes, power generation equipment, buildings, transmission lines and all other equipment or property of any kind, regardless of whether such property is considered realty or personalty for state law or other purposes. 

6. COMMINGLING, POOLING, AND UNITIZATION: 
 (a) Commingling. Lessee shall have the right to commingle (for purposes of storing, transporting, handling, unitizing, selling or processing) Geothermal Resources produced or extracted from the Premises (and lands pooled, unitized or
combined therewith), with similar substances produced or extracted from other lands or units. In the event of such commingling, Lessee shall meter, gauge, or measure, according to prevalent industry standards, the production from the Premises at the
well head, or from the unit or units including the leased land or other units or lands, as applicable, and compute and pay Lessor’s royalty attributable to Lessor’s land on the basis of such production as so determined or allocated.

 (b) Pooling and Unitization. Lessee may, without notice to or consent from Lessor, as a recurring right for drilling, development
or operating purposes, pool, unitize, or otherwise combine all or part of the Premises into a unit (whether federal or voluntary contractual unit) with any other land or lands (whether held by Lessee or others), whether or not adjacent or
contiguous, 
  

 7 

 
which Lessee desires to develop or operate (singly or in combination with others) as a unit. The execution by Lessee of any unit agreement, unit operating
agreement or other documents necessary to such pooling or unitization shall be binding on the Premises and Lessor’s current and future interests therein. Lessee shall provide Lessor courtesy notice of any pooling or unitization of the Premises.
Any well (whether or not Lessee’s well) commenced, drilled, drilling and/or producing or being capable of producing in any part of such unit shall for all purposes of this Lease be deemed a well commenced, drilled, drilling and/or producing on
the Premises, and the Lessee shall have the same rights and obligations with respect thereto and the drilling and producing operations upon the lands from time to time included within any such unit as Lessee would have if such lands constituted the
Premises leased hereunder; provided, however, that notwithstanding this or any other provision or provisions of this Lease to the contrary: 
 (i) Production as to which a royalty is payable from any such wells or wells drilled upon any such unit, whether located on the Premises or other lands, shall be allocated to the Premises in the proportion that the
acreage of the leased land in such unit bears to the total acreage of such unit. Such allocated portion thereof shall for all purposes be considered as having been produced from the Premises, and the royalty, payable under this Lease with respect to
the leased land in such unit shall be payable only upon that proportion of production so allocated, and 
 (ii) If taxes of
any kind are levied or assessed (other than taxes on the surface and on Lessor’s improvements), any portion of which is chargeable to Lessor under the provisions of this Lease, then the share of such taxes to be borne by Lessor shall be in
proportion to the share of the production from such unit allocated to the Premises. 
 (iii) Lessor hereby grants Lessee (or
the consents to the assignment of such rights from Lessee to any unit operator) the right to use of the surface of the Premises in support of unit operations, including all the surface uses enumerated in Section 1 above. In the event the
Premises, or any portion thereof, are later removed from the unit by any contraction of the Unit Area, all such existing surface uses of the Premises in support of unit operations shall continue in force and effect, and Lessor agrees to provide
Lessee or the unit operator with written easements, rights-of-way, licenses or such other acceptable surface use grants, in recordable form, to evidence such existing surface uses in support of unit operations. If the Lessor fails to provide such
written easements within thirty (30) days of Lessee’s written request, Lessor authorizes Lessee to unilaterally prepare and execute such easements and record the same in the applicable county’s real property records. Should Lessee
elect to unilaterally execute such easements, the nature, scope and duration of such easements as described in the executed document shall accurately and reasonably reflect the existing uses in relation to Lessee’s surface and underground
operations on the Premises (or on lands pooled and unitized therewith). 
  

 8 

 7. RESERVATIONS TO LESSOR: 
 The following rights (to the extent owned by Lessor) are reserved to Lessor, provided such rights and activities do not interfere with Lessee’s
exploration, development, production or other operations, activities or rights hereunder on the Premises or any Unit Area: 
 (i) Surface Use - the right to conduct ranching operations, or sell or otherwise dispose of the surface of the Premises (subject to this Lease) in a lawful manner. Any specific restrictions on the prospective use of the Premises by
Lessee, as a result of specific surface needs of the Lessor, may be set forth in an Appendix to this Lease. 
 (ii) Mineral
Rights - the right to extract minerals, hydrocarbons, and helium (other than Substances) from the Premises, subject to the following covenants and restrictions: 
 Notwithstanding the reservation of mineral rights to the Lessor, Lessor and Lessee acknowledge that Lessee shall make substantial investments in exploring for and developing geothermal resources on the Premises (or
Unit Area). “Lessor hereby covenants and agrees, on behalf of itself, its successors and assigns, including any future lessee of any mineral lease on the Premises, that the rights of Lessee under this Lease shall be and remain superior to the
rights of Lessor (or its lessees, successors or assigns) in the reserved mineral estate. To the extent that Lessor (or its lessees, successors or assigns; as applicable, the “Mineral Rights Holder”) intend to explore for, develop, extract,
transport or process minerals on the Premises, such Mineral Rights Holder must enter into a joint development agreement, on such form provided by and acceptable to Lessee, in its sole and absolute discretion, which shall provide for the cooperation
and coordination of joint development of the mineral estate and the geothermal resources estate; provided that all conflicts between such surface or subsurface uses of the Premises shall be resolved in favor of the Lessee and its rights hereunder.
Lessor further covenants and agrees that before entering into any mineral lease on all or any part of the Premises, Lessor shall provide Lessee with ten (10) days prior written notice of such proposed mineral lease, the terms and provisions of
such proposed mineral lease, and the party requesting the mineral lease as lessee. Lessee reserves the right to propose a specific addendum to such proposed mineral lease to address the operational needs of the Lessee, and the agreement of such
mineral lessee to the requirements of Lessee shall be a condition to the execution and recordation of any mineral lease. Any mineral lease shall expressly reference this paragraph and the dominance of the rights under this Lease as to the mineral
estate, and Lessor agrees that a reference to the subordination of the mineral estate to the geothermal estate leased hereunder may be included in any recorded memorandum of this Lease. 
 8. DEFAULT AND TERMINATION; SURRENDER: 
 (a) Default by Lessee. Whenever the Lessee fails to comply with any of the material terms and provisions of this Lease, and does not commence to remedy such failure within forty-five (45) days after receipt of written notice
from Lessor, the Lessor may (a) suspend operations until the requested action is taken to correct the noncompliance, or (b) cancel this Lease by delivering written 

  

 9 

 
notice of its intent to do so to Lessee; provided, however, that if there is a bona fide dispute as to the amount due in the case of a payment dispute and
all undisputed amounts are paid, said forty-five (45) day period shall be extended until five (5) days after such dispute is settled by final court decree or agreement. The following property shall be excepted from any Lease termination
hereunder as a result of default: (a) each and any well then capable of producing in commercial quantities the substances covered by this Lease, and in respect to which Lessee is not in default, plus an area of 20 acres surrounding such well;
and (b) rights of way and easements across lands subject to such Lease termination, which rights of way and easements are necessary for conducting Lessee’s operations on or in the vicinity of the lands retained (or any Unit Area), with
respect to which Lessee is not in default, including sites for electric generating units. 
 (b) Surrender. Lessee shall have the
right, in its sole discretion and at any time, to surrender all or any portions of the Premises it does not intend to utilize. In such case, Lessee shall execute and record a quit claim deed as to such surrendered portions, and Lessee shall thereby
be relieved of all obligations as to the acreage so surrendered. 
 9. CONDEMNATION: 
 Eminent domain proceedings resulting in the condemnation of a part of the Premises leased herein, but leaving the remaining Premises reasonably usable by
Lessee for the purposes of the activities described herein, will not terminate this Lease unless Lessee consents in writing to such termination. The effect of any such partial condemnation will be to terminate the Lease as to the portion of the
Premises condemned, and the Lease of the remainder of the Premises shall remain intact. To the extent that all or a portion of the surface estate of the Premises is condemned, but the geothermal estate is not condemned, Lessee may retain all such
acreage that it is capable of continuing to operate, on a lease basis or unit basis, as determined in its sole and absolute discretion. Lessee is authorized to unilaterally record notice of the status of such retained acreage after any condemnation.
To the extent that the geothermal estate is of necessity condemned as part of such condemnation proceeding or request, Lessee shall be granted notice of such condemnation, the right to participate in and negotiate damages for loss of such geothermal
estate, and all proceeds from that portion of any condemnation award that pertains to the loss of the geothermal estate shall be paid to Lessee. 
 10. ASSIGNMENTS, SUBLEASES, DIVIDED INTERESTS: 
 (a) Assignment and Sublease. Lessee shall have the absolute right to
sell, assign or sublease all or any portion of its interest or right in and to this Lease and/or the Premises; these rights shall include, without limitation, the right to pledge, assign, mortgage, or otherwise collateralize the Lease to any
affiliate of Lessee and/or any party for the purpose of financing or tax structuring. Lessor shall have the right to sell or assign its interest or right in and to this Lease and/or the Premises with the prior written consent of Lessee, which shall
not be unreasonably withheld. 
 (b) Divided Interests. In the event of assignment (by operation of law or otherwise) of the Lease as
to a segregated portion of the Premises, or if it is otherwise determined that more than one party holds the leasehold interest hereunder, payments due the Lessor hereunder shall be apportionable among the several leasehold owners according to the
surface area of each of their respective 

  

 10 

 
leaseholds (unless undivided ownership is otherwise set forth expressly in recorded documents), and default in such payment by one or more of such leasehold
owners shall in no way affect the right of any other leasehold owner hereunder. In the event of any uncertainty or dispute as to the parties entitled to such payment, Lessee shall be entitled, in its sole discretion, to discharge its payment
obligation by making such payments into a third party escrow, court escrow, or such other method as Lessee reasonably determines. Lessor’s successors and assigns agree to execute and record any stipulations and cross-conveyances as may be
necessary to establish of record the ownership of segregated or fractional interests in the Premises. Lessor shall provide fifteen (15) days prior written notice of any proposed sale of the surface estate only on the Premises (with the
reservation by Lessor of the geothermal or other subsurface estates). 
 11. FORCE MAJEURE: 
 Lessee’s obligations hereunder save and except payment of annual rentals set forth in Section 3(a) above shall be suspended, and the term of the
Lease and the period for removal of Lessee’s property in the event of termination shall be extended while Lessee is prevented from complying therewith by: strikes; lockouts; riots; action of the elements, including but not limited to fire,
explosion, flood, volcanic activity, earthquakes, or tidal waves; accidents; delays in transportation; inability to secure labor or materials in the open market; laws, rules or regulations of any Federal, State, County, Municipal or other
governmental agency, authority or representative having jurisdiction, including failure or delay in issuance of necessary permits or approvals; war (whether declared or undeclared including terrorist acts); acts of God; litigation or administrative
proceedings affecting title to lands covered hereby or operations thereon; inability to secure or absence of a market for commercial sale of Substances and/or Geothermal Resources, or any of them, produced from the Premises or of derivatives
developed by Lessee therefrom; or by other matters or conditions beyond the reasonable control of Lessee, whether or not similar to the conditions or matters in this Section specifically enumerated (“Force Majeure”). 
 12. NOTICES: 
 Lessor may give any
notice or deliver any document hereunder to Lessee by mailing the same by prepaid registered or certified mail addressed to Lessee at: 
 Intermountain Renewable Power, LLC 
 5152 North Edgewood Dr. 
 Provo, Utah 84604 
 Attention: Chief Executive Officer 
 with a copy to: 
 Intermountain Renewable Power, LLC 
 5152 North Edgewood Dr. 
 Provo, Utah 84604 
 Attention: General Counsel 
  

 11 

 or by delivering the same in person to the above-referenced address of Lessee. Lessee may give any notice or deliver any
document hereunder to Lessor by mailing the same by prepaid registered or certified mail addressed to Lessor at: 
 Minersville Land and Livestock Company 
 P.O. Box 127 
 Minersville, Utah 84752 
 Attention: President 
 or by delivering the same to Lessor in person. For purposes of this paragraph, either party may change
its address by written notice to the other. In case of any notice or document delivered by registered or certified mail, the same shall be deemed delivered when deposited in any U.S. Post Office, properly addressed as herein provided, with postage
fully prepaid. Lessee may make any payment due Lessor to Lessor personally or by mail at the address of Lessor given above. 
 13.
MISCELLANEOUS PROVISIONS: 
 (a) Binding Effect. This Lease shall inure to the benefit of and be binding upon the parties hereto,
their respective heirs, executors, administrators, successors, and assigns. 
 (b) Applicable Law. The terms and provisions of this
Lease shall be interpreted in accordance with the laws of the State of Utah, without giving effect to its principles of conflicts of laws. 
 (c) Entire Lease. This Lease terminates and replaces all prior agreements, either written, oral, or implied, between the parties hereto and constitutes the entire agreement between the parties. 
 (d) Recording Memorandum of Lease. Lessor agrees that Lessee may unilaterally execute and record that Memorandum of Lease (short form), attached
hereto as Exhibit B, for the purpose of recording same in the records of Beaver County, Utah, so as to give public notice, pursuant to the laws of the State of Utah, of the existence of this Lease, and presence of any particular covenants or
restrictions contained in this Lease. If Lessee so requests, Lessor shall execute such Memorandum of Lease. 
 (e) Void and Invalid
Provisions. In the event any part or portion or provision of this instrument shall be found or declared to be null, void, or unenforceable for any reason whatsoever by any court of competent jurisdiction or any governmental agency having
authority thereover, then and in such event only such part, portion or provision shall be affected thereby, and such finding, ruling or decision shall not in any way affect the remainder of this instrument or any of the other terms or conditions
hereof, which said remaining terms and conditions shall remain binding, valid, and subsisting and in full force and effect between the parties hereto, it being specifically understood and agreed that the provisions hereof are severable for the
purposes of the provisions of this clause. 
 (f) Counterparts. This Lease may be executed in any number of counterparts and all such
counterparts shall be deemed to constitute a single Lease and the execution of one counterpart by any party shall have the same force and effect as if such party had signed all the other counterparts. 
  

 12 

 (g) Certificates. Lessor shall, without charge at any time and from time to time, within ten
(10) days after request by Lessee, certify to by written instrument, duly executed and acknowledged, and deliver same to Lessee or any other party or parties designated by Lessee: 
 (i) That the Lease is in full force and effect; 
 (ii) Whether Lessee is in default under the Lease; 
 (iii) That the Lease may be assigned or subleased as security to secure financing or continue same to benefit the Lease; 
 (iv) That Lessor will afford the leasehold lender or any party holding a security interest in the Lease all opportunities available to
Lessee to cure any defaults under the Lease prior to any termination of the Lease; and 
 (v) Such other reasonable assurances
and information as Lessee, or its lender(s), may request. 
 (h) Warranty of Title. Lessor represents and warrants to Lessee that it
has good and marketable fee title to Premises, free and clear of all liens and encumbrances other than rights of way and easements of record, and hereby grants, and agrees to defend, title to the Premises. Lessor further agrees that Lessee at its
option may pay and discharge any delinquent taxes, mortgages, trust deeds or other delinquent liens or encumbrances existing, levied or assessed on or against the Premises; and, in the event Lessee shall exercise such option, Lessee shall be
subrogated to the rights of any holder or holders thereof and shall have the right, in addition to other remedies provided by law or equity, to reimburse itself by applying to the discharge of any such mortgage, tax or other lien or encumbrances any
and all payments accruing to Lessor hereunder. 
 (i) Cooperation. The parties agree to cooperate in the execution of any other
documentation necessary to carry out the intent and terms of this Lease. 
 (j) Confidentiality. Lessor agrees to keep confidential,
and not disclose to any third party, the amount of any royalties, rentals or other consideration provided by Lessee to Lessor under this Lease. Moreover, Lessor agrees not to disclose to any third party that Lessor has entered into this Lease or the
identity of the Lessee, without Lessee’s prior written consent. Lessor acknowledges that the consideration provided in this Lease is given in part in reliance upon the covenants and agreements of confidentiality of Lessor in this subparagraph.

 (k) Right of First Refusal for Top Leases. If, at any time during the primary or extended term of this Lease, Lessor receives (or
seeks) an offer for a top lease on all or any portion of the Premises that would cover all or any portion of the Geothermal Resources (“Top Lease Offer”), before Lessor may execute or accept consideration as to such Top Lease Offer, Lessor
must first provide Lessee with written notice of such Top Lease Offer, and the right to match such Top Lease Offer on the same terms and conditions of the Top Lease Offer. Lessee shall have thirty (30) days from receipt of the Top Lease Offer,
to elect to match such Top Lease Offer. If Lessee elects to match such Top Lease Offer, it shall provide written notice of such election within such thirty (30) day period, which election shall constitute a binding obligation to match such Top
Lease Offer; provided however that Lessee shall not be obligated to pay any upfront rental, bonus or other consideration that, by the terms of the Top Lease Offer are required to be paid at execution, until this Lease shall actually terminate and
expire by its terms (or be surrendered by Lessee). 
  

 13 

 IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the day and year first above
written. 
  

					
	LESSOR:	 	Minersville Land and Livestock Company
			
		 	By:	 	 

  

		 		 	President
			
		 	By:	 	 

  

		 		 	Secretary
			
		 	By:	 	 

  

		 		 	Director
			
		 	By:	 	 

  

		 		 	Director
			
		 	By:	 	 

  

		 		 	Director
			
		 	By:	 	 

  

		 		 	Director
		
	LESSEE:	 	Intermountain Renewable Power, LLC
			
		 	By:	 	 

  

		 	Its:	 	Manager

 . 
  

 14 

 EXHIBIT A 
 to Geothermal Lease 
 LEGAL DESCRIPTION 
 That certain real property located in Beaver County, Utah as more particularly described as follows: 
 TOWNSHIP 29 SOUTH, RANGE 10 WEST, SLM 
 Section 15: Lot 1 (45.98 ac), Lot 2 (38.92 ac), NW 1/4SW 1/4;

 Section 20: NW 1/4NE 1/4, NE 1/4NW 1/4,
S 1/2NW 1/4, N 1/2SW 1/4, NE 1/4, NE 1/4, 
 Section 27: S 1/2
S 1/2NW 1/4, NW 1/4NE 1/4. 
 TOWNSHIP 29 SOUTH,
RANGE 11 WEST, SLM 
 Section 15: W 1/2W 1/2; 
 Section 16: Commencing 80 rods West of the Northeast corner of Section 16, thence South 20 chains, thence West 20 chains, thence South 40 chains, thence West 20 chains, thence North 2.5 chains, thence Northeasterly along the
railroad right-of-way 92.5 chains, thence East 5.5 chains to the place of beginning; 
 Section 32: South 109 rods of the NE 1/4; 
 TOWNSHIP 30 SOUTH, RANGE 10 WEST, SLM 
 Section 02: W 1/2
W 1/2SW 1/4, S 1/2NW 1/4, 
 Section 12: South 50 rods of the SE 1/
4; 
 Section 14: S 1/2NW 1/4, 
 Section 15: S 1/2NE 1/4,
W 1/2SE 1/4, N 1/2SW 1/4, 
 Section 16: S 1/2SW 1/4, N 1/2NW 1/4SW 1/4, SE 1/4NW 1/4SW 1/4, S 1/2SE 1/4, NW 1/4 SE 1/4
less 10 acres described as a strip of land 80 rods long and 20 rods wide on the East side of the NE 1/4SW 1/4 of said section 16; 

Section 17: SE 1/4; N 1/2SW 1/4, SW 1/4SW 1/4, N 1/2SE 1/4SW 1/4, less from section 17 40 acres in the W 1/2SW 1/4; Also, a tract of land in section 17 described as beginning at a point which lies North 45° East 933.5 feet from the Southwest corner of said Section 17, and
running thence North 45° East 933.5 feet, thence South 45° East 1,867 feet, thence South 45° West 933.5 feet, thence North 45° West 1,867 feet to the point of beginning. 

 Section 18: Lot 4 (60.08 ac), E 1/2SE 1/4 less
40 acres, A tract of land in the SW 1/4SE 1/4 described as beginning at the Southwest corner of the SE 1/4 and running
thence North 45° East 1,867 feet, thence South 1,320 feet, thence West 1,320 feet to the point of beginning; Also, A tract of land in the NW 1/4SE 1/4 described as beginning at the Southwest corner of said NW 1
/4SE  1/4and running thence North 1,320
feet, thence East 1,320 feet, thence South 1,320 feet, thence North 45° West 934 feet, thence South 45° West 934 feet to the place of beginning, cont. 150.08 acres, more or less.

 Section 19:
NE 1/4 less 40 acres; 
 Section 20: N 1/2
NE 1/4, S 1/2NW 1/4, also, a tract of land described as Commencing at the Southwest
corner of the NW 1/4NW 1/4 of said section 20 and running thence North 45° East 934 feet, thence South 45° East 934 feet, thence North 45° East 1,867 feet, thence South 80 rods, thence West 160 rods to the place of beginning.

 Section 32: All. 
  

 15 

 TOWNSHIP 30 SOUTH, RANGE 11 WEST, SLM  
 Section 01: Lot 3 (41.39 ac), Lot 4 (41.94 ac), SE 1/4, S 1/2NW 1/4 SW 1/4, 
 Section 02:
SE 1/4, 
 Section 04: Lot 4 (39.93 ac), SW 1/
4NW 1/4, 
 Section 05: Lot 1 (39.86 ac), S 1/2SW 1/4, SE 1/4NE 1/4,

 Section 07: E 1
/2NE 1/4, 
 Section 08: NW 1/4; 
 Section 11:
S 1/2SW 1/4, NE 1/4SW 1/4 , S 1/2NW 1/4SW 1/4, 
 Section 12: SE 1/4; 
 Section 18:
E 1/2; 
 Section 21: SW 1/4SW 1/4, S 1/2SE 1/4, 
 Section 23: All; 
 Section 24:
All, less 10 acres deeded to Jack Craw; 
 Section 25: N 1/2; 
 Section 26: N 1/2
; 
 Section 28: S 1/2S 1/2NW 1/4, 
 TOWNSHIP 30 SOUTH, RANGE 12 WEST, SLM  
 Section 01: Lot 6 (35.51 ac),Lot 7 (35.51 ac), S 1/2SW 1/4, W 1/2SE 1/4, 
 Section 08: S 1/2
; 
 TOWNSHIP 30 SOUTH, RANGE 12 WEST, SLM  
 Section 09: W 1/2
; W 1/2SE 1/4, 
 Section 12: N 1/2NW 1/4, 
 Section 13: Lot 1 (35.62 ac),
Lot 2 (35.62 ac), W 1/2NE 1/4, NW 1/4, 
 Section 16: N 1/2
; 
 Section 17: NE 1/4, E 1/2E 1/2NW 1/4, 
 Section 18:
E 1/2; 
 Section 19: NE 1/4, E 1/2SW 1/4, 
 Section 21: SW 1/4SW 1/4, S 1/2SE 1/4, 
 Section 24: Lot 1 (35.74 ac), Lot 2 (35.70 ac), Lot 3 (35.66 ac), Lot 4 (35.62 ac), W 1/2NE 1/4, NW 1/4NW 1/4, S 1/2NW 1/4, 
 Section 31: Lot 1 (40.10 ac), Lot 2 (40.06 ac), E 1/2NW 1/4, NE 1/4, 
 Section 33: E 1/2
, SW 1/4. 
 EXCEPT: 
 Beginning at a point 2,640 feet E of NW corner of
Sec. 28 T 30 S. R12W th N. 1,320 ft; th E 2,640 ft; th S 1,320 ft: th W 1,320 ft; th S 2,640 ft; th W 2,640 ft; th N 1,320 ft; th E 1320 ft; th N 1,320 ft to point of beginning cont. 200 acres. 
 Also: COM SE CR SW 1/4SE 1/4 S12 T30S R10W SLM TH N45RDS W TO W LINE STATE HIGHWAY TH S ALONG W LINE STATE HIGHWAY TO
SOUTH LINE SEC 12 THE ALONG S LINE SEC 12 TO BEG 12.92 AC 
 Also: COM SE CR S12 T30S R10W SLM W670FTN775.5FT E670FT S792FT POB 11.58 AC

  

 16

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