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allowing such contest to be taken and prosecuted in OWNERs name, and any such lien shall not be <br /> deemed a default unless finally adjudicited to be valid arid not discharged by JUBILEE. <br /> OWNER shall not cause o/ allow arty liens, encumbrances or adverse daimsto accrue against the <br /> p/oper\y\ excepts:chasnnayhavebeeoexppeu|ysuburdinated \uthisAQrpement; and |nthoeventany <br /> lien or ercumbrance shall �ereafter accrue against the Property by act or neglect of Owner, then <br /> JUBILEE may, at JUBILEES option, pay and discharge*tw same. and if jUBILEE elects so to do,JUBILEE <br /> may deduct the amount so paid from any Advance Royalty or Production Royalty or other payments <br /> hereunder, together with interest thereon from the date of payment of said sums at the weighted <br /> average of prime rates throughout the year(3s established by the Bank of America) subject to the <br /> application of any Colorado usury statue, JUBILEE shall defend or discharge any adverse actions towards <br /> the Property arising from their actions or the actions of their employees or agents JUBILEE may <br /> however, incur a lien against the Property at any time prior to JIUBILEFs purchase of OWNERs entire <br /> rights and title tothe Property; such approval, not being unreasonable vv\thhe|d Fo|(uwinA purchase o[ <br /> OWNERs rights and title to tlie Propvrty,JUB!LEE shall be free to encumber the Property in ally way it <br /> should desire. <br /> 12.JUBILEE shall have the r.ghtat any time totermmate this Agreement. Upcn termination nfthis <br /> Agreement by JUBILEE, at! payments theretofore made to OWNER shall be retained by OWNER and at! <br /> iiabilities and obligations of JUBILEE Ict OWNER not tl,en due or accrued shall cease and terminate, <br /> except any liabilities or obligations arising prior to the termination of this section. Upon termination of <br /> this Agreement JUBILEE shall furnish OWNER with a complete surnmary of tile factual lriformation <br /> obtained as e rpsu'tof work done byjUB{LEE on the Property \nc}iding' but rot limited to, logs of all <br /> holes drilled thereon, orc.values encointered, if arty, analyses thereof and pertinent maps and surveys <br /> prepared by JUBILEE in the -ourse of such work,JUBILEE shall autnorize arid permit OWNER to take <br /> - possession of any available drill core, pulps, chips' orcultmgs obtained from the Property,JUBILEE <br /> makes no representation or vanaoty,expressed or implied, as to the accuracy ofany information or <br /> date made available to OWNER hereunder or to the fitness or suitability of such information or date for <br /> any purpose, Specifically, ally environmental or reclamation obligations incurred by JUBILEE or caused <br /> by any action of JUBILEE or JUBILEE5 agents shall survive termination of this Agreement. <br /> 1.3, if JUBILEE defaults in any of its obligations hereunder,OWNER may give JUBILEEwritten notice <br /> thereof and specify the default or defaults relied on. if JUBILEE has not begun to cure such a default <br /> within reasonab|etinne after receipt ofsuch notice(which shall not, in any case, he less than 30days)' <br /> 0VVMFR mxy terminate this Agreement by written nuz ce to JUBILEE; provided that MJIU8|iEE shall <br /> dispute that ally defau\t has occurred, the maii*/0aU be determined by litigation in a court of <br /> competent jurisdiction, and if it is found to be in default hereunder,JUBILEE shall have a reasonable <br /> time (which in any case s a shall not be less ss than 60days from receipt by JUBILEE nf notice of entry offinal <br /> judgment adverse to JUBILEE)to Cure such default, and if so cured, OWNER shall have no right to <br /> terminate this Agreement by reason of such default. However, inthe even the daimof default isfailure <br /> to make annual payments when due,JUBILEE shall cure such payment default within 15 days after <br /> notice o/default /s given, or else this Agreement will ter~minate. <br /> I The je,n`sof \'^isAQreennentnoaybo extended of tlie4F'oemcnt terminated in the case ofmnevent <br /> n^hrrcc mgeurc in accordance with th~ (n||uwio&' <br /> a�>The term of this Agreement shall bpoxtendeobv any event nf force ma)eure,and the obligations of <br /> JUBILEE under this Agreement, except for t�e naynien'of nloney, shall be }uspenclecl and JUBILEE shall <br /> no( bedeemedhdefau|to' iab.efordaomeeso~mtherronmed1rsahi\e >U0|LEEop,eventpd/ru~n <br />