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Lessor or, at its option may resolve the adverse claim and deduct the <br /> cost incurred from payments otherwise due Lessor. <br /> C. Without regard to the warranties of title given to the Company by <br /> Lessor, if Lessor own less than one hundred percent(100%) of the <br /> Materials under all or any portion of the Property, then the amounts <br /> payable to Lessor hereunder as Sales Royalties shall be reduced in the <br /> proportion that the interest of the Lessor in the Materials bears to one <br /> hundred percent (100%) of the Materials within the Property. <br /> d. The Company's obligation under this Lease is conditioned upon the <br /> Company obtaining all required permits for mining and access to the <br /> public roadway on terms reasonably satisfactory to the Company. If <br /> the Company cannot, after exercising reasonable diligence, obtain such <br /> permits on terms reasonably satisfactory to the Company within six <br /> months after commencement of this Lease, then the Company may, at <br /> its election, terminate this Lease by notice to the Lessor and, upon <br /> such termination, shall be entitled to refund of the entire amount paid <br /> by the Company upon execution of this Lease. <br /> e. Lessor represents to the best of its information and knowledge that the <br /> Property constitutes a legal lot under applicable law and that no <br /> subdivision approval is required for the Company's operation on the <br /> Property or for the granting of this Lease. <br /> 8. Termination. <br /> a. Lessor shall have the right at Lessor' option to terminate this Lease if <br /> the Company fails to perform any of its obligations hereunder as <br /> follows; <br /> i. If the Company fails to pay when due any amounts to be paid <br /> hereunder, Lessor may at Lessor's option give the Company <br /> written notice of such failure and the Company shall have thirty <br /> (30) days from the date it receives notice to pay the amounts owed <br /> to Lessor. If the Company fails to pay the past due amounts to <br /> Lessor within ninety(90) day period, Lessor may at Lessor's <br /> option declare the Company in default and terminate this Lease. <br /> ii. If the Company defaults in the performance of any obligation <br /> hereunder other than the obligation to pay money when due, <br /> Lessor may at Lessor's option give written notice by certified mail <br /> of such default to the Company, and the Company shall have <br /> ninety(90) days from the date it received such notice to cure the <br /> default. If the Company fails to cure the default within the ninety- <br /> day period, Lessor may at Lessor's option terminate this Lease; <br /> provided, however, that if the default is minor and the default can <br /> be fully compensated for damages, than such default shall not be a <br /> Lessor Initials 1-4116 5 <br /> Lessee Initials <br />