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receipt by any bank or insurance company of written demand by the Lessor, without further
<br /> condition. The Lessor shall return the bond to the Lessee if and when Lessee has fully complied
<br /> with the terms of this Lease; however, Lessor may require such bond to be held in full force and
<br /> effect for one year after cessation of operations. The Lessee is aware and understands that certain
<br /> covenants and agreements relating to surface reclamation may require additional time beyond the
<br /> Term, and agrees to keep this bond in place until att agreements related to surface reclamation
<br /> have been satisfied by inspection and approved by the Lessor's staff or their designee. In the
<br /> Lessor's discretion, the Lessor may draw upon the bond after Lessee has failed to perform its
<br /> obligations under the Lease beyond the stated cure periods provided in the Lease. Lessor reserves
<br /> the right to grant relief from the foregoing bond requirements. This requirement may be waived in
<br /> favor of the requirements of Division of Reclamation, Mining and Safety.
<br /> 25, GOVERNMENTAL IRMAUNITY -- Liability for claims or injuries to persons or property arising from the
<br /> negligence of the State of Colorado, its departments, institutions, agencies, boards, officials, and
<br /> employees is controlled and limited by the provisions of the Governmental Immunity Act, C.R.S. §
<br /> 24-10-101 et seq., and the risk management statues, C.R.S. § 24-30-1501 et seq., as amended. No
<br /> term or condition of this Lease will be construed or interpreted as a waiver, express or implied, of
<br /> any of the immunities, rights, benefits, protections, or other provisions, of the Governmental
<br /> Immunity Act as applicable now or hereafter amended,
<br /> 26 INDEMNIFICATION -- Lessee assumes all liability arising from the use, occupation or control of the
<br /> Leased Premises by Lessee under this Lease. This assumption includes, but is not limited to, liability
<br /> for atl personal injuries (including death) and environmental and property damage and destruction.
<br /> Lessee agrees to defend, indemnify and hold harmtess Lessor from and against any and all liabilities,
<br /> losses, damages, liens, expenses, claims, demands, debts, obligations, fines, penalties, suits or
<br /> actions, judgments, and costs of any kind whatsoever arising from the use, occupation or control of
<br /> the Leased Premises, caused by any act, omission or neglect of Lessee, or Lessee's employees,
<br /> agents, guests, invitees, contractors or assigns. Lessee further agrees to indemnify Lessor for any
<br /> costs, including costs of suit and fees for consultants, experts, and attorneys, incurred by Lessor in
<br /> terminating or canceling, enforcing obligations or defending itself against any matter arising under
<br /> this Lease caused or permitted by lessee or Lessee's employees, agents, guests, invitees,
<br /> contractors or assigns. This provision shall survive termination, cancellation or relinquishment of
<br /> this Lease and any cause of action by Lessor to enforce it shalt not be deemed to accrue until
<br /> Lessor's actual discovery of said liability, claim, loss, damage, or exposure. This indemnity is in
<br /> addition to any other indemnity provided for in this Lease. Lessee witl not be responsible for any
<br /> liability caused by persons granted other uses of the Leased Premises by Lessor.
<br /> 27, INSURANCE -- Lessee, at its sole cost and expense, shalt during the entire term of this Lease
<br /> procure, pay for and keep in full force and effect an occurrence based general liability insurance
<br /> policy from an insurance carrier licensed to do business in Colorado, in an amount not less than one
<br /> million dollars ($1,000,000.00) per occurrence and two minion dollars ($2,000,000.00) aggregate.
<br /> Lessee, at its sole cost and expense, shalt during the entire term of this Lease procure, pay for and
<br /> keep in full force and effect a property insurance policy from an insurance carrier Licensed to do
<br /> business in Colorado covering at[ insurable improvements owned by the State Land Board tocated on
<br /> the Leased Premises in an amount not less than necessary to cover the replacement cost. All
<br /> policies shalt name Lessor as an additional insured, shalt provide that the coverage is primary and
<br /> noncontributory over any other insurance coverage availabte to Lessor, its agents and employees
<br /> and shalt include a clause waiving all rights of recovery, under subrogation or otherwise against
<br /> €',L 112629 revised DOL 1112018
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