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encumbrance and Energy Fuels may reimburse itself for any such payment by withholding and <br /> retaining as its sole property from royalties the amounts so paid by Energy Fuels without <br /> prejudice to any right of Energy Fuels to recover from Lessor or against the Subject Properties in <br /> any manner or by any remedy whatsoever, and Energy Fuels shall have all of the rights and <br /> remedies against Lessor which the Mortgagee or the lienor had immediately prior to the time of <br /> such payment. Upon the request of Energy Fuels, Lessor shall promptly make, execute, <br /> acknowledge and deliver to Energy Fuels any and all instruments (in form and substance <br /> satisfactory to Energy Fuels) which Energy Fuels, in its sole judgment, shall deem necessary or <br /> desirable to fully effectuate the provisions ofthis paragraph. <br /> 20. Default and Forfeiture. The failure of Energy Fuels to make or cause to be made <br /> any of the payments herein provided for or to keep or perform any agreement on its part to be <br /> kept or performed according to the terms and provisions of this Agreement shall, at the election <br /> of Lessor, constitute an event of a default. Upon such event of default, Lessor shall give to <br /> Energy Fuels a written notice of its intention to declare a forfeiture of this Agreement and to <br /> terminate the same on account thereof, specifying the particular default or defaults relied upon <br /> by it, and Energy Fuels shall have a reasonable time (which in any case shall not be less than <br /> thirty (30) days) after receipt of such notice in which to contest,or to make good, or commence <br /> to cure such default or defaults, in which event there shall be no forfeiture therefor. If Energy <br /> Fuels contests that such default occurred, it shall so advise Lessor in writing within thirty (30) <br /> days after receipt of the notice of forfeiture. If, within fifteen (15) days thereafter, the parties <br /> have not resolved the dispute by mutual agreement,the issue of default shall then be submitted to <br /> arbitration under Paragraph 28 below. If arbitration is so sought, Energy Fuels shall not be <br /> deemed in default until the matter shall have been determined finally by appropriate arbitration. <br /> If the arbitration results in a final finding of default,Energy Fuels shall have the time specified in <br /> the arbitral award to cure the default, or if not so stated in the arbitral award, then within sixty <br /> (60) days. Upon failure to so cure the default, Lessor may declare a forfeiture and termination of <br /> this Agreement. In the event that Lessor does terminate this Agreement on account of a default <br /> by Energy Fuels, Energy Fuels shall be under no frurther obligation or liability hereunder to <br /> Lessor from and after the date of such termination except for the performance of obligations and <br /> the satisfaction of liabilities to Lessor or third parties or respecting the Subject Properties,which <br /> have accrued prior to the date of such termination. <br /> 11 <br />