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XXIII, "Notices" in the following proportions: One-fifth to Dorcas Jensen and one-tenth <br />to each of the remaining Lessors. Late payments shall bear interest at the prime rate <br />charged by the First National Bank of the Rockies. <br />Lessee agrees to keep a strict and accurate record of all materials removed from <br />the Leased Property and all sales thereof. Lessors shall have the right, at reasonable <br />times, of examining the mining procedures and checking the books and records of Lessee <br />for the purpose of verifying the amount of royalties payable. <br />V. COVENANTS OF LESSEE <br />Lessee covenants and agrees with Lessors as follows: <br />1. To obtain all permits and licenses required for its operations prior to beginning <br />operations on the Leased Property and to furnish copies of same to Lessors. <br />2. To conduct all of its operations in conformance with all applicable laws, rules <br />and regulations of federal, state and local governmental authorities, including without <br />limitation, MSHA, OSHA, Colorado Mined Land Reclamation Board, state water and <br />mining laws, regulations of the State Engineer, Rio Blanco County zoning, land use and <br />others laws and regulations. <br />3. To allow the Lessors or their officers or agents, from time to time, to enter <br />upon all parts of the leased premises for the purpose of inspection, surveys, taking of <br />samples and measurements. <br />4. To provide the Lessors continued access to those portions of Leased Property <br />not actually being used in mining activities of the Lessee and to accept the leased <br />premises in its present condition. <br />5. To keep the leased premises at all times clear of trash, rubbish, or junk, unless <br />prevented by extraordinary conditions or temporary breakdown of equipment. <br />6. To conduct its Gravel Mining Operation and related activities in accordance <br />with the laws of the United States or the State of Colorado, or the ordinances of Rio <br />Blanco County. <br />7. Before entering the Leased Property, to purchase and maintain insurance that <br />will protect it from the claims arising out of its operations under this Lease, whether the <br />operations are by Lessee or its subcontractors, or anyone directly or indirectly employed <br />by any of them, or by anyone for whose acts any of them may be liable. Lessees shall <br />maintain at least the following limits of liability in a company satisfactory to Lessors: <br />United/Sheridan Family Gravel Lease 3 <br />