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damage in the amount of One Million Dollars. Lessee shall also maintain automobile <br /> liability insurance in the amount of One Million Dollars, <br /> 16.2 Evidence of Insurance. Certificates evidencing the existence of the above- <br /> required insurance policy shall be delivered during the operational period to the <br /> Lessor. Evidence of the above insurance shall be in form reasonably satisfactory to <br /> and approved by Lessor. <br /> 17. Environmental Compliance. Lessee, in conducting any activity on the Leased Property, <br /> shall comply with all applicable local, state and federal rules, regulations, statutes, laws or <br /> orders including, but not limited to, requirements regarding the storage, use and disposal of <br /> hazardous materials, or any other substance. For purposes of this Agreement, hazardous <br /> materials shall mean any flammable, explosive or radioactive material or any substance <br /> defined as or included within the definition of "hazardous substance," "hazardous waste," <br /> "hazardous materials," or "toxic substances" under applicable federal, state or local law or <br /> regulations. <br /> 18. Default. <br /> 18.1 The failure of the Lessee to make any payment due hereunder at the time and in <br /> the manner herein provided and to abide by and perform each and all of the <br /> covenants and conditions on the part of the Lessee to be kept and performed, in the <br /> manner and at the times herein specified, shall constitute a default by Lessee and <br /> shall, at the option of Lessor, be cause for termination. <br /> 18.2 If Lessor fails to abide by and perform each and all of the covenants and <br /> conditions, on the part of the Lessor to be kept and performed, in the manner and at <br /> the times herein specified, such shall constitute a default by Lessor and shall, at the <br /> option of the Lessee, be cause for termination. <br /> 18.3 In the event of such default and exercise of the option to terminate this Lease <br /> Agreement by either party, the non-defaulting party shall mail a notice to the <br /> defaulting party stating that this Lease Agreement shall be terminated within sixty (60) <br /> days from the date of mailing of said notice unless the default be fully cured within <br /> said sixty (60) day period. If, within said sixty (60) day period, the default is not <br /> corrected, this Lease Agreement shall terminate and all rights of the Lessee upon <br /> Leased Property shall cease and this Lease Agreement shall thereupon be <br /> terminated. In such event, the parties may pursue specific performance or money <br /> damages at their option in the District Court for the County where the Leased <br /> Property is located. <br /> 21. Parties Bound. The provisions of this Lease Agreement shall bind and inure to the <br /> benefit of parties hereto, their legal representatives, and their heirs, successors and assigns, <br /> 22. Conditions Precedent. The commencement of Lessee's obligations under this <br /> Agreement shall be expressly conditioned upon the prior occurrence of: obtaining necessary <br /> mineral extraction permits, and any other required local, state or federal action. <br /> 23. Law and enue, This Agreement and performance hereunder shall be deemed to have <br /> been made i , shall be governed by, and construed in accordance with the laws of the State <br /> where the L sed Property is located. <br /> Lessor Initia4. <br /> Ames laitial : 4 of 6 <br />