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Lessee shall, upon execution of this lease,at its cost,prepare a Notice, pursuant to C.R.S. 1973, § 38-22-105 <br /> and cause the same to be posted for the purpose of protecting Lessor against any liens or encumbrances upon the <br /> Leased Premises by reason of work, labor,services or materials contracted for or supplied to Lessee. <br /> 26. BOND-- It is agreed that no operations are to be commenced on the lands herein described unless and until Lessee <br /> or Lessee's agent has filed a good and sufficient bond with Lessor in an amount fixed by Lessor, to secure the <br /> payment for damages caused by Lessee's or Lessee's agent's operations on said lands. Lessor reserves the right to <br /> grant relief from the foregoing bond requirements. Lessor may require such bond to be held in full force and effect <br /> for one year after cessation of operations for which the bond was intended. This requirement may be waived in <br /> favor of the requirements of the Division of Reclamation,Mining,and Safety. <br /> 27. WATER--If Lessee initiates or establishes any water rights for which the point of surface diversion or ground water <br /> withdrawal is on the Leased Premises, title to such water rights shall, upon termination of the lease, become the <br /> property of the surface owner without cost, and title to the water rights shall be conveyed to the surface owner <br /> immediately upon termination,except that if Lessor is the surface owner the water right shall be taken in the name of <br /> Lessor in the first instance and shall be the property of Lessor without cost. <br /> 28. SURRENDER AND RELINQUISHMENT-- Lessee may, at any time, by paying to Lessor all amounts then due as <br /> provided herein, surrender and cancel this lease insofar as the same covers all or any portion of the lands herein <br /> leased and be relieved from further obligations or liability hereunder with respect to the lands so surrendered; <br /> provided that no partial surrender or cancellation of this lease shall be for less than tracts of approximately forty(40) <br /> acres or governmental lot corresponding to a quarter-quarter section,the rental being reduced proportionately. <br /> This surrender clause and option herein reserved to Lessee shall cease and become absolutely inoperative <br /> immediately and concurrently with the institution of any suit in any court of law by Lessee, Lessor or any assignee <br /> of either to enforce this lease, or any of its terms,express or implied, but in no case shall surrender be effective until <br /> Lessee shall have made full provision for conservation of the minerals and protection of the surface rights of the <br /> Leased Premises as may be determined by Lessor. <br /> Notwithstanding the foregoing, no surrender and relinquishment of this lease shall be effective unless and <br /> until all reports, documents and information of any kind required to be submitted to Lessor under this lease, or to <br /> such state agencies as provided in this lease have been submitted to Lessor or such state agency. <br /> 29. RIGHT OF REMOVAL -- In the event this lease is terminated by surrender, or the expiration of its term, and all <br /> obligations of Lessee under this lease are satisfied, all Lessee's improvements, equipment, man-made objects of any <br /> type, including stockpiles and dumps except as these stock piles and dumps may be disposed of pursuant to the <br /> reclamation plan, shall be removed from the Leased Premises within six months from the date of such termination at <br /> Lessee's expense. Such removal is to be accomplished without unnecessary waste or damage to the premises and <br /> Lessee shall restore the surface of the Leased Premises to the same condition as immediately prior to the execution <br /> of this lease as it pertains to such removal. All improvements and equipment remaining on the Leased Premises six <br /> months after the termination hereof shall be forfeited to Lessor, at Lessor's discretion, without compensation and <br /> without necessity of execution of additional documents. <br /> 30. CONDEMNATION -- If the Leased Premises shall be taken in any condemnation proceeding, this lease shall <br /> automatically terminate as of the date of taking. The award for such condemnation shall be paid to Lessor, except <br /> for any specific award(s) paid to Lessee for severed minerals reserves, in which event a percent of such specific <br /> award(s)equal to royalty shall be paid to Lessor in lieu of royalty lost by virtue of the condemnation. Improvements <br /> shall be removed by Lessee .per terms in the RIGHT OF REMOVAL paragraph herein. If only a portion of the <br /> Page 7 of 11 <br />