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every April 1, July 1, Octoberl and January 1. Cornerstone may prepay the <br /> additional rental payment at any time without penalty. <br /> c. Additional Financial Obligations of Cornerstone: <br /> i. Taxes. Cornerstone shall pay all federal, state and local taxes arising out of <br /> Cornerstone's operation on the Property or related to the property or <br /> production from the property. This obligation shall include but not be <br /> limited to any and all ad valorem taxes and/or production taxes due on the <br /> Property or the product mined from the Property. Should EZ Enterprises, <br /> LLC receive any tax notice and/or bill arising out of the ownership or use <br /> of the Property, it shall tender the same to Cornerstone within ten days of <br /> receipt and Cornerstone shall pay said tax bill in a timely manner, subject <br /> only to Cornerstone's right to protest the accuracy of any such tax and/or <br /> valuation to the taxing entity levying the tax. <br /> ii. Insurance. Cornerstone shall take out and maintain a policy of general <br /> liability insurance in a form and from an insurer acceptable to EZ <br /> Enterprises, LLC which shall insure EZ Enterprises, LLC and its partners, <br /> owners and officers in an amount of no less than one million dollars per <br /> occurrence and two million annual aggregate. Cornerstone shall provide to <br /> EZ Enterprises, LLC a certificate of insurance showing that said insurance <br /> is in place and that EZ Enterprises,LLC and its principals are named insured <br /> as required above and said certificate shall indicate that the insurance <br /> company will not cancel the policy without a thirty day advance written <br /> notice to EZ Enterprises, LLC. Cornerstone shall take out and maintain a <br /> policy of workers' compensation insurance as required by state law and <br /> shall require any and all contractors and sub-contractors entering or <br /> operating upon the Property to maintain such a workers' compensation <br /> insurance policy while they are operating upon the Property. Cornerstone <br /> shall produce to EZ Enterprises, LLC copies of its workers' compensation <br /> policy and those of its contractors upon request by EZ Enterprises, LLC or <br /> its agents. <br /> iii. Maintenance and Repairs. Cornerstone shall be solely responsible for any <br /> and all maintenance of any and all facilities and equipment on the Property. <br /> Cornerstone shall also be solely responsible for maintaining any and all <br /> offsite improvements required by the County of Montrose and/or the State <br /> of Colorado associated with the Gravel pit and/or permitted mining <br /> operation on the Property. <br /> iv. Utilities. Cornerstone shall be solely responsible for the installation and <br /> payment of any and all utilities Cornerstone desires to provide to the <br /> Property. Cornerstone shall reimburse EZ Enterprises, LLC for any fees <br /> and/or costs incurred by EZ Enterprises, LLC related to the water from the <br /> UVWUA project consumed or used by Cornerstone on the Property. <br /> v. Compliance with the Terms of Federal, State and Local Laws and Permits. <br /> The parties understand that Cornerstone will be operating a gravel pit and <br /> aggregate processing operation on the Property. Cornerstone shall be solely <br /> responsible for meeting and remaining in compliance with all terms and <br /> 2 <br />