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MLA - Segelke <br />5. DEFAULT. Unless otherwise stated herein, Lessee shall have 30 days to correct <br />or cure a non -monetary default after receipt of written notice of such default from Lessor. <br />In the event Lessee, in Lessor's subjective opinion, does not correct or cure the <br />non -monetary default to within 30 days after receipt of written notice of such default from <br />Lessor, Lessor may terminate the Lease. <br />6. RECLAMATION. Lessee agrees to restore and reclaim the Premises in <br />accordance with the rules and regulations promulgated by federal, state and local <br />authorities, including the Mined Land Reclamation Board of the State of Colorado. Lessee <br />shall commence the restoration and reclamation required pursuant to this paragraph <br />immediately upon expiration or termination of this Lease, or as otherwise required by law, <br />and diligently pursue said restoration and reclamation to completion. <br />7 SUCCESSORS AND ASSIGNS. Lessee shall not assign its rights under the <br />Lease or sublet the Premises without the prior written consent of Lessor, which may be <br />withheld at Lessor's sole discretion. The Lease shall inure to the benefit of and shall be <br />binding upon the heirs, legal representatives, successors and assigns of the parties hereto. <br />8. INDEMNITY. Lessee shall indemnify and hold Lessor harmless against any claim <br />of liability or loss from personal injury or property damage resulting from or arising out of the <br />use and occupancy of the Premises or the Property by Lessee, its servants or agents. <br />9. INSURANCE. Lessee agrees that, at his/its own cost and expense, Lessee will <br />maintain comprehensive general liability and property liability insurance with liability <br />limits of not less than One Million and 00/100 Dollars ($1,000,000.00) for injury to or death <br />of one or more persons in any one occurrence and Five Hundred Thousand and 00/100 <br />Dollars ($500,000.00) for damage or destruction to property in any one occurrence. Lessor <br />shall be listed as an additional insured party on Lessee's policies required by the Lease. <br />Within 10 days after the Effective Date of the Lease, and on each annual anniversary of <br />the Effective Date of the Lease thereafter, Lessee shall submit to Lessor a certificate of <br />insurance from its insurance carrier as evidence of the insurance that Lessee is required to <br />carry herein. <br />10. NON-INTERFERENCE. Lessee shall not interfere with Lessor's use of the <br />Property as working farm, ranch and personal residence. However, during any period of <br />reclamation or restoration, Lessee may be obligated to fence portions of the Premises to <br />prevent access from grazing in order to develop grass stands, or satisfy other conditions of <br />reclamation as required by the Mined Land Reclamation Board of the State of Colorado, <br />which such reclamation activities shall not be considered interference with Lessor's use of <br />the Property. Notwithstanding anything in this Lease to the contrary, Lessee shall remedy <br />any default under this Section 12 immediately upon receipt of notice of such default from <br />Lessor. <br />11. SUBROGATION. The Lease shall be subordinate to any deed of trust, <br />mortgageor other security interest by Lessor which from time to time may encumber all or <br />!:1515 OG41100311)ocs1M1NLRAL LXTRACrION 03102005.doc <br />