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XV. RIGHTS TO ADDITIONAL MINERALS <br />If any mindrals as distinguished from sand, gravel, rock or dirt shall be found on <br />the Leased Property, it shall belong to Lessors, provided, however, Lessee shall have first <br />right and option to mine the minerals under the terms and conditions the parties may then <br />agree upon. Further, if no agreement to mine the minerals is agreed to by Lessors and <br />Lessee, Lessors shall not have the right to mine the minerals to the extent its mining of <br />the minerals interferes with Lessee's Gravel Mining Operations and quiet enjoyment of <br />the Leased Property. <br />XVI. EFFECT OF AGREEMENT <br />This agreement shall inure to the benefit of, and shall be binding on, the heirs, <br />legal representatives, successors, and assigns of the parties. The parties' rights and <br />obligations under this Lease may not be assigned or sublet without the prior written <br />consent of the other party, which consent shall not be unreasonably withheld. Lessee <br />shall have the right to subcontract with others for the performance of exploration, <br />development and mining work on the Leased Property, subject to all terms of this Lease, <br />but a subcontract shall not relieve Lessee of its obligations under this Lease to Lessors. <br />XVII. LESSORS' WARRANTIES <br />Lessors represent and warrant that they possess fee simple title to the Leased <br />Property, that they have the right, authority and power to enter into this Lease and that by <br />doing so they are not interfering with the mineral rights of any third party; and that there <br />are no claims, governmental contention or litigation pending or threatened concerning or <br />affecting their right, authority and power to enter into this Lease. Lessors further <br />represent and warrant that the only encumbrances upon the Leased Property are those <br />described in Exhibit B. Lessors agree to timely pay all amounts due on encumbrances on <br />the Leased Property, or any part thereof, and to not allow the leased premises, or any part <br />thereof to be foreclosed upon. In the event of a breach of this Lease, Lessee may, but is <br />not obligated to, cure any default on such encumbrances; in which case, Lessee shall be <br />entitled to set off against amounts otherwise due Lessors, any and all amounts so <br />expended, including Lessee's reasonable attorneys' fees and expenses therefrom, and <br />including interest on amounts so expended at the rate of twelve percent (12%) per annum. <br />XVIII. MEMORANDUM OF LEASE <br />Lessors and Lessee agree to execute concurrently with the execution of this <br />Gravel Lease Agreement, a Memorandum of Lease in a form suitable for recording with <br />the Clerk and Recorder of Rio Blanco County. The Memorandum shall be recorded at <br />Lessee's expense. <br />United/Sheridan Family Gravel Lease 8 <br />