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statute, rule, regulation, or any judgment, order, writ or decree of any court or governmental <br />authority. <br />(c) Qwnershin. Parkerson has good and marketable title to all of the surface <br />rights of the Properties and the unrestricted right to enter into and fully perform this Lease and that <br />Kilgore shall have the undisturbed enjoyment of its rights in and to the Properties provided for in <br />this Lease. In the event the Properties are sold or otherwise transferred, it shall be sold or <br />transferred subject to this Lease, and in the event the Properties are mortgaged or any lien is placed <br />thereon, Kilgore shall have the right but shall not be obligated to discharge such lien or mortgage <br />in the event of default, and any reasonable amount of monies paid by Kilgore in order to prevent <br />the termination of this Lease through foreclosure shall be applied to reduce any payments which <br />Kilgore is or thereafter becomes obligated to make to Parkerson under this Lease; provided, <br />however, Kilgore shall first provide Parkerson written notice and Parkerson with a commercially <br />reasonable amount of time to cure such. Parkerson shall promptly notify Kilgore of any default <br />under, or action to foreclose, any such mortgage or lien. <br />(d) leaal. There are no complaints, claims, accusations, audits, or litigation <br />against Parkerson, whether initiated by a governmental, quasi -governmental, or third party <br />regarding any regulatory, environmental, or contractual breach or any other tort. <br />20. Security. In order to secure payment to Parkerson of the Lease Payments, Kilgore <br />hereby grants to Parkerson a security interest in Kilgore's accounts receivable derived from all <br />shipments of Sand and Gravel covered hereby, but in no other accounts receivable whatsoever. <br />Upon execution hereof, Parkerson may execute a UCG -1 for filing with the Colorado Secretary of <br />State, which provides notice of this security agreement. All of Kilgore's contracts with third <br />parties for transport or sale of Sand and Gravel from the Properties shall contain a provision which <br />obligates the buyer or Kilgore, upon a notice received from Parkerson of a default under this Lease <br />to pay to Parkerson all payments due to Kilgore under such contract, for so long as such default <br />under this Lease shall continue. Within thirty (30) days after Kilgore's execution of any contract <br />with third parties for the transport or sale of Sand and Gravel from the Properties, Kilgore shall <br />provide a copy of such documentation to Parkerson in order for Parkerson to assure compliance <br />with this provision and in order to enable Parkerson to exercise the remedy provided for in this <br />paragraph. <br />21. Default and Notice of Termination. Upon any event of default the defaulting <br />Parry will have thirty (30) days to comply and bring its obligation current including the obligation <br />to pay any then due interest and late fees. If the defaulting Party remains in default beyond the <br />thirty (30) days then the non -defaulting Party may, at its election, exercise any remedy available <br />at law or in equity and the right of specific performance and/or injunction without the necessity of <br />proving irreparable harm or posting a bond. The filing of any particular cause of action shall not <br />be deemed to be an election of remedies hereunder. Any notice of termination of this Lease must <br />be in writing in accordance with Paragraph 22, below. <br />22. Notices. All notices, requests, consents and other communications hereunder shall <br />be in writing, shall be addressed to the receiving Party's address set forth below or to such other <br />C 'IATTYVV\ParBWA & GTiigoroNulti-Pit Mining Lease Agm-7-12-17-deamd= Page I I of 18 <br />