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EVRAZ,NC NA <br /> Page 3 of 4 <br /> Lessee, a provision of the sale will be that this lease be assigned to the <br /> buyer and that buyer will honor the full term of the lease to Lessee. <br /> 8-A. Each of the following shall be deemed a default by the Lessee and a <br /> breach of this lease: <br /> (a) The filing of a petition for adjudication of the Lessee as a bankrupt or the <br /> institution of any legal proceedings in receivership, reorganization or <br /> liquidation of the Lessee,or the making by the Lessee of an assignment <br /> for the benefit of creditors. <br /> (b) A default in the payment of the rent herein reserved,or any part thereof, <br /> for a period of thirty(30)days. <br /> (c) Any default by the Lessee, other than stated in a and b above, in the <br /> performance of any term, covenant,restriction or condition of this lease <br /> for a period of ten(10)days after service of notice thereof by the Lessor <br /> on the Lessee. <br /> 8-B. In the event of any default by the Lessee,as set forth in Section 8-A hereof, <br /> and at any time thereafter, the Lessor may serve a written notice upon the <br /> Lessee that the Lessor elects to terminate this lease upon a specified date <br /> not less than five (5) days after the date of service of such notice, and this <br /> lease shall then expire on the date so specified as if that date had been <br /> originally fixed as the expiration date of the term herein granted. No <br /> default shall be deemed waived unless in writing and signed by Lessor, <br /> except that a default in Subsections (b) and(c)of Section 8-A hereof shall <br /> be deemed waived if such default is cured to Lessor's satisfaction before <br /> notice of termination of this lease is served on the Lessee. <br /> 8-C In the event of a default by the Lessee,as set forth in Subsection(b)of <br /> Section 8-A hereof,and the subsequent termination of this lease by the <br /> Lessor,the entire remaining payment,or payments due under this lease <br /> shall immediately become due and payable without demand as full and <br /> liquidated damages to Lessor. <br /> 9. Lessee hereby agrees to and shall indemnify and hold Lessor, its partners, <br /> officers, agents, employers, and associated companies harmless from all <br /> claims, judgments, damages, penalties, fines, costs, expenses, including <br /> attorneys' and experts' fees, liabilities or losses arising out of Lessees' use <br /> of the water set forth in this Lease. <br /> 10. Lessee has examined and is familiar with the water leased hereunder, <br /> acknowledges that the water to be delivered hereunder is raw, untreated <br />