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said insurance is in place and that B&L Land Company LLC and its <br /> principals are named insured as required above and said certificate shall <br /> indicate that the insurance company will not cancel the policy without a <br /> thirty day advance written notice to B&L Land Company LLC. <br /> Cornerstone shall take out and maintain a policy of workers' compensation <br /> insurance as required by state law and shall require all contractors and sub- <br /> contractors entering or operating upon the Property to maintain such a <br /> workers' compensation insurance policy while they are operating upon the <br /> Property. Cornerstone shall produce to B&L Land Company LLC copies <br /> of its workers' compensation policy and those of its contractors upon <br /> request by B&L Land Company LLC or its agents. <br /> iii. Maintenance and Repairs. Cornerstone shall be solely responsible for any <br /> and all maintenance of any and all facilities and equipment on the Property. <br /> Cornerstone shall also be solely responsible for maintaining any and all <br /> offsite improvements required by the County of Gunnison and/or the State <br /> of Colorado associated with the Gravel pit and/or permitted mining <br /> operation on the Property. <br /> iv. Utilities. Cornerstone shall be solely responsible for the installation and <br /> payment of any and all utilities Cornerstone desires to provide to the <br /> Property. <br /> v. Compliance with the Terms of Federal, State and Local Laws and Permits. <br /> The parties understand that Cornerstone will be operating a gravel pit and <br /> aggregate processing operation on the Property. Cornerstone shall be solely <br /> responsible for meeting and remaining in compliance with all terms and <br /> conditions of any and all federal, state and local laws and permits which <br /> govern Cornerstone's operation on the Property. <br /> vi. Cornerstone's Reclamation Obligation. Cornerstone, at its sole expense <br /> shall reclaim the property to a condition satisfactory to B&L L and <br /> Company LLCso long as said condition is consistent with the permit issued <br /> by the State of Colorado, Department of Natural Resources, Division of <br /> Reclamation, Mining and Safety ("DRMS"). Said reclamation shall occur <br /> at times mandated by any and all permits issued to the parties and shall be <br /> completed by Cornerstone within six months of any termination of this <br /> Lease. <br /> vii. No Permit Amendment without Consent. Cornerstone shall not apply for <br /> or receive any major or substantial amendment to the reclamation permit on <br /> the property issued by DRMS without consent of B&L Land Company <br /> LLC. <br /> viii. Indemnification Agreement. Cornerstone, for the term of this lease and <br /> beyond agrees to indemnify and hold harmless B&L Land Company LLC <br /> and its owners, partners and officers from any and all claims and other <br /> liabilities arising from Cornerstone's operation on the Property. This <br /> indemnification agreement shall include but not be limited to the payment <br /> of any adverse judgments and or the legal fees and/or costs incurred by B&L <br /> Land Company LLC as a result of any claim or action arising out of <br /> Cornerstone's activities on the Property. <br /> 2 <br />