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<br />Pamolo M (Bacon =C Jr: 6 I:Xrrder, Logan County, Cc <br /> <br />B. Stakes. Vesco shall place permanent stakes to mark the boundaries of the <br />area of the Owner's Mined Land Reclamation Permit in such a manner as to <br />not be covered during the operations by stored gravel, topsoil or <br />overburden. Should such stakes be covered or moved by Vesco <br />operations, Vesco agrees to re -stake the permit area. <br />C. Property Taxes. Owner shall pay all taxes assessed or that may be <br />assessed against the Lease Premises promptly and before they become <br />delinquent, including but not limited to real property taxes and severance <br />taxes <br />9. Applicable Regulations. Colorado Mined Land Reclamation Ruled and <br />Regulations will apply in addition to all other federal, state and local statutes, <br />rules and regulations applicable to mining activities. The parties agree to <br />comply with all applicable statutes, rules and mining regulations. <br />10. Indemnification. To the extent authorized by law, Vesco will hold harmless <br />and indemnify the Owner for liability arising from acts or omissions of Vesco <br />and its employees in the performance of this Lease. The Owner remains <br />responsible for his own acts and for dangerous conditions on the land not <br />attributable to Vesco or its employees. <br />11. Warranty of Title. The Owner warrants that the Owner has good and legal title <br />to the Leased Premises and the lawful right to grant this Lease with Owner, and <br />that the Owner will hold Vesco harmless from any and all claims from others <br />asserting any interest in the Leased Premises. <br />12. Default and Cure. In the event any default occurs in the performance of any <br />term or condition of this Lease by either party, the non - defaulting party shall <br />have the right to cure. The defaulting party shall have 90 days in which to cure <br />the default, and it the defaulting party fails to cure the default or to commence <br />and diligently pursue such cure within such 90 -day period, then the non - <br />defaulting party shall have the right to take action to cure the default, and to <br />charge the expenses thereof to the defaulting party. If the Owner is the <br />defaulting party, such charges may be deducted from any royalties for <br />extraction of materials hereunder due to the Owner. In any event, the charges <br />of cure shall bear interest at the rate of 12 percent annum form the date <br />incurred until paid. <br />MIS <br />/Ifl <br />