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XI. EXCLUSIVE RIGHTS <br />Lessors agree that during the term of this Lease, including renewal periods, <br />Lessee shall have the exclusive right and option to purchase and remove any and all sand, <br />gravel, rock, and/or dirt upon the Leased Property. <br />XII. SUPPLY OF WATER <br />The parties understand that there is no water supply at the Leased Property, that <br />Lessee has no right to develop water on the Leased Property, and that Lessee must <br />furnish from another source water needed for its operations. Lessee may store water on <br />the Leased Property that it obtains from sources off the Leased Property. <br />XIII. TERMINATION OF LEASE <br />Lessee may terminate this Lease upon giving notice to Lessors at least ninety (90) <br />days prior to the next Annual Anniversary Date for the annual royalty payment. In the <br />event of termination for any reason, Lessors shall be entitled to retain all prior payments <br />made by Lessee and to enforce any accrued but unpaid payments; in addition, Lessee <br />shall promptly remove its property from the Leased Property and shall perform any <br />reclamation work required by its mining permit. <br />XIV. DEFAULT OF LESSEE <br />In the event any default occurs in the performance of any term or condition of this <br />Lease by Lessee, Lessors shall give notice in writing to Lessee demanding the correction <br />or removal of the default. Notice shall be deemed given when deposited in the United <br />States mail, addressed to Lessee at its address stated below in Section XXII. In the event <br />that Lessee fails to correct or remove such default within thirty (30) days from the date <br />notice is given, Lessors may, at their option, terminate this Lease. If this Lease is <br />terminated by Lessors pursuant to this section, Lessors shall have no further rights or <br />remedies against Lessee except the forfeiture of this Lease, the collection of any amounts <br />due Lessors, including, without limitation, all accrued royalties or minimum guarantees, <br />the right to accelerate and collect any remaining annual minimum guarantees for the <br />balance of the then current lease term, and reasonable attorneys' fees and other costs of <br />collection. Lessee shall have one hundred twenty (120) days after termination within <br />which to remove any plants, structures, or equipment placed on the leased premises by <br />Lessee and any materials mined and produced but not removed on the date of <br />termination, subject to payment of royalties as provided in this Lease. <br />United/Sheridan Family Gravel Lease 7 <br />