2019-09-20_GENERAL DOCUMENTS - M2008018

Home Browse Search

i 14. Restoration of Property. Within six (6) months after the expiration or earlier termination of this Lease, the Company is required to substantially restore the Property to the condition required by law and by the applicable permits and approvals required for the Company to conduct operations hereunder. Thereafter,the Company shall continue to have the right to access and enter the Property and to effect on the Property such final reseeding, restoration, repair, rehabilitation and reclamation as may be required for the Company to obtain release of any security or bond provided by the Company to secure its performance of reclamation required by its governmental permits and authorizations. Following the expiration or termination of this Lease for any reason,Lessor covenants that Lessor will not extract or allow others to extract Materials untii Lessor or others effect the transfer ofthe Colorado Division of Minerals and Geology Permit to their names for reclamation or rehabilitation of the Property and the release of any security or bond provided by the Company to'secure its performance or discharge its responsibilities. 15. Assignment The provisions of this Lease shall extend to and be binding upon the heirs,personal representatives,successors,assigns and sublessees of Lessor and the Company. The Company shall have the right to subcontract with others for the performance of exploration, development and mining work hereunder,subject to all terms of this Lease,but no such subcontract shall relieve the Company of its obligations to Lessor hereunder. 16. Notice. Notices of default or of cancellation or termination of this Lease and all other notices required or pCrmitted hereunder shall be given by personal delivery or by registered or certified mail,postage prepaid,addressed to the parties as set forth above. 17. Mediation/Arbitration of Disputes and Other Matters. Notwithstanding anything to the contrary contained in this Lease:all disputes and other matters between br among the Lessor and the Company, and any officer, director, partner, member, shareholder,employee, agent or other representative thereof(all of whom shall collectively be deemed to be intended beneficiaries of this Section), shall be submitted first to mediation and, if not settled during mediation, then to final, binding arbitration,all in accordance with the provisions hereinafter set forth in this Section; and such disputes and other matters shall not be decided by a court of law. The disputes and other matters which are subject to mediation and/or arbitration under this Section shall include,without limitation,the following:(a)those arising under the provisions of this Lease;(b)those regarding any of the rules and regulations,of a governmental or regulatory body having jurisdiction over the operations of Company pursuant to this Lease; (c) any and all controversies, disputes or claims between any of the intended beneficiaries of this Section,regardless of how the same might have arisen or on what it may be based;and(d)any statements,representations,promises,warranties,or other communications made by or on behalf of any of the intended beneficiaries of this Section. The mediation shall be conducted before the American Arbitration Association("AAA")in accordance with AAA's Commercial or Construction Industry Mediation Rules. If the dispute or other matter is not fully resolved by mediation,then the same shall be submitted to binding arbitration before AAA im acecrdancewith their Commercial or Construction Industry Arbitration Rules,and judgment upon the award rendered by the arbitrator(s)may be entered in and enforced by any court having jurisdiction over such dispute or other matter. Unless otherwise provided by law, the costs of mediation and arbitration shall be borne equallyby the parties involved,if the dispute or other matter is arbitrated,the arbitrator(s) shall have the right to award reasonable attorneys' fees, costs and c:\ATrYUIWI=ch EyIU=hl=e-GnveLwN Page 7