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receipt by any bank or insurance company of written demand by the Lessor, without further
<br /> condition. The Lessor shall return the bond to the Lessee if and when Lessee has fully complied with
<br /> the terms of this Lease; however, Lessor may require such bond to be held in full force and effect
<br /> for one year after cessation of operations. The Lessee is aware and understands that certain
<br /> covenants and agreements relating to surface reclamation may require additional time beyond the
<br /> Term, and agrees to keep this bond in place until all agreements related to surface reclamation have
<br /> been satisfied by inspection and approved by the Lessor's staff or their designee. In the Lessor's
<br /> discretion, the Lessor may draw upon the bond after Lessee has failed to perform its obligations
<br /> under the Lease beyond the stated cure periods provided in the Lease. Lessor reserves the right to
<br /> grant relief from the foregoing bond requirements. This requirement may be waived in favor of the
<br /> requirements of Division of Reclamation, Mining and Safety.
<br /> 27. GOVERNMENTAL IMMUNITY -- Liability for claims or injuries to persons or property arising from the
<br /> negligence of the State of Colorado, its departments, institutions, agencies, boards, officials, and
<br /> employees is controlled and limited by the provisions of the Governmental Immunity Act, C.R.S. 5 24-
<br /> 10-101 et seq., and the risk management statues, C.R.S. § 24-30-1501 et seq., as amended. No term or
<br /> condition of this Lease will be construed or interpreted as a waiver, express or implied, of any of the
<br /> immunities, rights, benefits, protections, or other provisions, of the Governmental Immunity Act as
<br /> applicable now or hereafter amended.
<br /> 28. INDEMNIFICATION -- Lessee assumes all liability arising from the use, occupation or control of the
<br /> Leased Premises by Lessee under this Lease. This assumption includes, but is not limited to, liability
<br /> for all personal injuries (including death) and environmental and property damage and destruction.
<br /> Lessee agrees to defend, indemnify and hold harmless Lessor from and against any and all liabilities,
<br /> losses, damages, liens, expenses, claims, demands, debts, obligations, fines, penalties, suits or actions,
<br /> judgments, and costs of any kind whatsoever arising from the use, occupation or control of the Leased
<br /> Premises, caused by any act, omission or neglect of Lessee, or Lessee's employees, agents, guests,
<br /> invitees, contractors or assigns. Lessee further agrees to indemnify Lessor for any costs, including costs
<br /> of suit and fees for consultants, experts, and attorneys, incurred by Lessor in terminating or canceling,
<br /> enforcing obligations or defending itself against any matter arising under this Lease caused or
<br /> permitted by lessee or Lessee's employees, agents, guests, invitees, contractors or assigns. This
<br /> provision shall survive termination, cancellation or relinquishment of this Lease and any cause of action
<br /> by Lessor to enforce it shall not be deemed to accrue until Lessor's actual discovery of said liability,
<br /> claim, loss, damage, or exposure. This indemnity is in addition to any other indemnity provided for in
<br /> this Lease. Lessee will not be responsible for any liability caused by persons granted other uses of the
<br /> Leased Premises by Lessor.
<br /> 29. INSURANCE -- Lessee, at its sole cost and expense, shall during the entire term of this Lease procure,
<br /> pay for and keep in full force and effect an occurrence based general liability insurance policy from an
<br /> insurance carrier licensed to do business in Colorado, in an amount not less than one million dollars
<br /> ($1,000,000.00) per occurrence and two million dollars ($2,000,000.00) aggregate. Lessee, at its sole
<br /> cost and expense, shall during the entire term of this Lease procure, pay for and keep in full force and
<br /> effect a property insurance policy from an insurance carrier licensed to do business in Colorado
<br /> covering all insurable improvements owned by the State Land Board located on the Leased Premises in
<br /> an amount not less than necessary to cover the replacement cost. All policies shall name Lessor as an
<br /> additional insured, shall provide that the coverage is primary and noncontributory over any other
<br /> insurance coverage available to Lessor, its agents and employees and shall include a clause waiving all
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