2019-08-19_PERMIT FILE - M2019046 (4)

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Lessor, its agents and employees. Failure to buy and maintain the required insurance is a default of this Lease. Before starting work under this Lease, Lessee shall, at Lessor's request, furnish a certificate of liability insurance, referencing the tease number and reflecting the above requirements. Lessor may alter any requirements of this section to meet the requirements of the Colorado Governmental Immunity Act or any requirements determined by the Colorado Office of Risk Management. 28. WATER - Lessor reserves title to at( water rights associated or appurtenant to the Leased Premises. In addition, no water, ditch, reservoir, well, spring, seepage or other right, permit, or use of any kind ("water right") may be initiated, established, appropriated or adjudicated (for use on or off the Leased Premises) by Lessee without the prior written approval of Lessor. All applications and documents pertaining to any such water right must be made in the name of Lessor, and Lessor reserves the right to make or convert any related applications or documents in or to its awn name. Any such water right, approved or unapproved is the sole and absolute Property of Lessor without cost to Lessor. 29. SURRENDER AND RELINQUISHMENT -- Lessee may, at any time, by paying to Lessor all amounts then due as provided herein, surrender and cancel this tease insofar as the same covers at( or any portion of the lands herein leased and be relieved from further obligations or liability hereunder with respect to the lands so surrendered; provided that no partial surrender or cancellation of this tease shalt be for less than tracts of approximately forty (40) acres or governmental tot corresponding to a quarter-quarter section, the rental being reduced proportionately. This surrender clause and option herein reserved to Lessee shall cease and become absolutely inoperative immediately and concurrently with the institution of any suit in any court of law by Lessee, Lessor or any assignee of either to enforce this lease, or any of its terms, express or implied, but in no case shall surrender be effective until Lessee shall have made full provision for conservation of the minerals and protection of the surface rights of the Leased Premises as may be determined by Lessor. Notwithstanding the foregoing, no surrender and relinquishment of this lease shall be effective unless and until at[ reports, documents and information of any kind required to be submitted to Lessor under this lease, or to such state agencies as provided in this lease have been submitted to Lessor or such state agency. 30. RIGHT OF REMOVAL -- In the event this tease is terminated by surrender, or the expiration of its term, and all obligations of Lessee under this tease are satisfied, all Lessee's improvements, equipment, man-made objects of any type, including stockpiles and dumps except as these stock piles and dumps may be disposed of pursuant to the reclamation plan, shall be removed from the Leased Premises within six months from the date of such termination at Lessee's expense. Such removal is to be accomplished without unnecessary waste or damage to the premises and Lessee shalt restore the surface of the Leased Premises to the same condition as immediately prior to the execution of this tease as it pertains to such removal. All improvements and equipment remaining on the Leased Premises six months after the termination hereof shalt be forfeited automatically to Lessor without compensation and without necessity of execution of additional documents. 31. CONDEMNATION -- If the Leased Premises shalt be taken in any condemnation proceeding, this lease shall automatically terminate as of the date of taking. The award for such condemnation shalt be paid to Lessor, except for any specific award(s) paid to Lessee for severed minerals reserves, in which event a percent of such specific award(s) equal to royalty shalt be paid to Lessor in lieu of GL 112629 Revised DOL 11 f 2018 Page 9 of 17