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by Exhibit B. Prior to commencing sand and gravel operations, Lessor and Lessee shall <br />have the active mining permit transferred under Lessee's name with the State of <br />Colorado. Lessee shall fully comply at all times with those Permit obligations and <br />conditions applicable to Lessee's operations on Lessor's Property. <br />Notwithstanding the foregoing, Lessor shall fund and install a groundwater cutoff wall or <br />slurry wall, to be installed prior to mining proceeding below ground water level, on or <br />before February 28, 2014 (and Lessor will have the right to extend this deadline up to 60 <br />days). Lessor will be responsible for bonding requirements for the slurry wall. <br />11. Records to be kept. Lessee shall keep accurate records of quantities, nature and weights <br />of materials produced from the Property, whether removed from the Property or <br />stockpiled on the Property, which records shall be available for inspection by Lessor at <br />all reasonable times during business hours. Production records shall be kept for a period <br />of three years after their creation. <br />12. Audit Cost. Lessor may cause an audit of Lessee's books and records once annually upon <br />7 days written notice by Lessor, for purposes of verifying the amount of Production <br />Royalty or other amounts due to Lessor. All reasonably necessary records, including <br />records of crusher hours, scales, sales records, and trucking records, related to Lessee's <br />operation on the Property, shall be made available to Lessor or its agents for such <br />purposes. The fees of the auditors shall be paid by Lessor, unless the audit discloses an <br />understatement of the Production Royalty or other amounts properly due to Lessor in <br />excess of two percent of the amount of the Production Royalty or other amounts reported, <br />in which event Lessee shall pay the fees of the auditors. <br />13. Lessee's Operations on Premises. <br />a. Lessee shall use the Leased Premises only consistent with for mining, <br />extraction and processing of Sand and Gravel and storage and <br />maintenance of equipment and raw materials therefor, and other related <br />purposes set forth in Sections 1 and 2.a of this Lease. All material mined <br />and crushed by Lessee will become the property of Lessee, subject to the <br />terms and conditions of this Lease regarding Production Royalty, <br />Minimum Royalty, and termination. <br />b. If required, Lessee shall prepare and file a Storm Water Management <br />Plan, and Lessee shall be responsible for implementing procedures and <br />monitoring compliance with said Plan. Lessor shall provide a clean, <br />clearly marked map of the permitted area so that Lessee may set up and <br />commence operations in the permitted area: <br />C. Neither Lessor nor the Lessee shall use the Leased Premises, or permit <br />them to be used for any nuisance, or anything against public policy, or for <br />any purpose or use in violation of the Permits or the laws or rules and <br />