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4. Headings. The headings throughout this Lease are for convenience and <br /> reference only and shall in no way be deemed to define, limit or add to the <br /> meaning of any provision of this Lease <br /> 5. Waiver. It is further agreed that no assent,expressed or implied,to any <br /> breach of any one or more of the covenants or provisions hereof shall be <br /> deemed or taken to be a waiver of any succeeding or other breach. <br /> 6. Governing Law. This Agreement shall be governed by and shah-be construed <br /> in accordance with the laws of the State of Colorado. <br /> 16. Protection of the Premises. The Lessee agrees to provide and install adequate gates <br /> and/or cattle guards at all entrances into the areas of the leased Premises being used or <br /> occupied by the Lessee. Such gates will be kept locked during non-business hours. <br /> Lessee understands and consents to allowing the grazing of cattle on the premises by <br /> the Lessor and/or his assigns, but the front gate will be open when the pit is open. <br /> Leesee will not be held responsible for lost or injured cattle that are allowed to be <br /> around equipment. <br /> 17. Water Taps. The Lessor will provide to the Lessee for use on the Premises the <br /> equivalent of one (1) residential water tap from the Lake Durango Water Company, Inc. <br /> Lessee shall pay any costs for tfie installation of the said taps and monthly water billings, <br /> unless installation is put In by Lessor in which case Lessor will pay for said taps and <br /> monthly water billings. <br /> 18. Assignment. Lessor reserves the right to assign any and all rights under this lease <br /> without the consent or permission of the Lessee. <br /> 19. Notification. The aforementioned names and addresses shall be utilized for notification <br /> herin. Until such time as the parties notify each other of a different address,the same <br /> shall be the correct address for all notification purposes. <br /> 20. Lessee shall pay Lessor an advanced royalty loan of$50,000.00. This loan will be paid <br /> back.to,the Leessee at$1.00 per ton of the$1.50 royalty until the$50,000 is-pa-ld. Then <br /> the Lessor will receive the full$1.50 per ton royalty after that time. <br /> 21. Lessee Operation: Lessee agrees to operate the premises on an open and available <br /> basis. If an operator is not on site, one will be provided upon request. <br /> 5 <br />