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rl I <br /> s ` <br /> 7. Insurance. <br /> a. The Company shall maintain at it sole expense and at all tunes statutory <br /> Worker's Compensation Insurance coverage as required under the laws and regulations of the State <br /> of Colorado for all its officers and employees who perform work for the Company hereunder. <br /> b. The Company shall pwchase, at its sole expense, and shall maintain at all <br /> times the following minimum insurance protection with Lessor designated as an additional insured <br /> providing for written notice to Lessor thirty(30)days prior to cancellation. Company shall provide <br /> Lessor with a certificate of such insurance annually. <br /> i. Comprehensive General Liability in the amount of $1.,000,000 <br /> combined single limit, <br /> ii. Employer's Liability Insurance in the amount of $500,000 each <br /> occurrence; <br /> iii. AutomobileLiability Insurance in the amount of$1,000,000combined <br /> single limit; and <br /> iv. Adequate and reasonable insurance for other risks ordinarily insured <br /> against in similar operations. <br /> C. The Company agrees that it shall require all contractors and subcontractors <br /> who perform work on the Company's behalf in connection with the Property to have similar and <br /> adequate insu nce in full force and effect. <br /> R. Title and Other Conditions. <br /> a. The Company has accepted Lessor's title as marketable,to the best of its <br /> Imowledge,as ofthe date ofthis Lease. If subsequent thereto the Company determines that Lessor's <br /> title to the Property and Materials is not good and marketable,the Company shall so notify Lessor <br /> in writing,in which case Lessor,at Lessor's cost,shall correct the specified title defects. If any title <br /> defects which render the title unmarketable or adversely affect the Company's right to mine are not <br /> cured within sixty(60)days after receipt of such notice,the Company,at its option,may terminate <br /> this Lease without any further obligation to Lessor or,at its option,may resolve the adverse claim <br /> and deduct the costs incurred from payments otherwise due Lessor. The Company shall,as part of <br /> any such termination,have the right at its option to have any and all Advance Minimum Royalties <br /> paid refunded to the Company, <br /> b. The Company's obligations under this Lease are conditioned upon the <br /> Company obtaining a permit for access to the public roadway on terms reasonably satisfactory to the <br /> Company. If the Company cannot,after exercising reasonable diligence,obtain a permit for access <br /> on terms reasonably satisfactory to the Company within six months after commencement of this <br /> Lease,then the Company may,at its election,terminate this Lease by notice to the Lessor and,upon <br /> CAATT VXAEawliVry ra=bU"w-G=ve.wpd Page 4 <br />