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ASSIGNMENT AND ASSUMPTION OF MINING PERMIT <br /> THIS ASSIGNMENT AND ASSUMPTION OF MINING PERMIT (this "Assignment") <br /> is effective as of August , 2018, by and between MidFirst Bank, as Personal Representative <br /> of the Estate of Rick Hunt, Deceased("Assignor"), and colorado farms Ile, a Colorado limited <br /> liability company ("Assignee"). <br /> A. Assignor is the owner of that certain property described on Exhibit A attached hereto <br /> (the "Property"). <br /> B. Assignor is on this date conveying the Property to Assignee pursuant to <br /> the terms of a Personal Representative's Deed. <br /> C. Assignor is the current permittee under that certain Division of <br /> Reclamation, Mining & Safety("DRMS") reclamation permit No. M-1988-052 related to the Big <br /> R Pit (the "Permit"). <br /> NOW, THEREFORE, in consideration of$10.00 and other good and valuable <br /> consideration, the receipt of which is hereby acknowledged, and the mutual covenants and <br /> agreements hereinafter set forth, Assignor and Assignee hereby agree as follows: <br /> 1. Assignor hereby assigns to Assignee all of Assignor's right, title, and interest in, to, <br /> and under the Permit effective as of the date of this Assignment. <br /> 2. In consideration of the foregoing, Assignee hereby assumes and agrees to perform <br /> any and all obligations of Assignor under the Permit which arise and are applicable to the period <br /> from and after the date of this Assignment, and Assignor agrees to perform all such obligations <br /> of Assignor under the Permit which are applicable to the period prior to such date, except as <br /> otherwise expressly provided herein. <br /> 3. Assignee hereby agrees to indemnify,hold harmless and defend Assignor from and <br /> against any loss, cost, claim, cause of action, damage, or expense, including reasonable <br /> attorneys' fees, which Assignor may incur, or which may be asserted against Assignor under the <br /> Permit and which arises from or is related to events or circumstances occurring during the period <br /> from and after the date of this Assignment, effective as of the date of this Assignment, including, <br /> without limitation, the provisions of Section 4 below. <br /> 4. Assignee agrees that it will, within thirty (30) days after the date hereof, cause the <br /> issuance of a replacement Bond in the Assignee's name in the amount of$18,642.00 satisfying <br /> all of the DRMS requirements with respect to the Big R Pit, including, without limitation, <br /> completing a Request for Transfer of Mineral Permit and Succession of Operators Application <br /> Packet on the forms attached hereto as Exhibit B ("Transfer Request"), and the release of <br /> Assignor's existing Bond. Assignor agrees to cooperate in the completion and submittal by <br /> Assignee of the Transfer Request as contemplated herein. In addition to any other remedies <br /> available to Assignor at law or in equity, including the right to obtain a Court Order directing <br /> -1- <br />