Laserfiche WebLink
conditions of this Lease, such default shall not cause a forfeiture,termination or reversion of the <br /> leasehold estate created hereby. In such event Lessor shall give Lessee written notice specifying the <br /> default giving Lessee thirty(30) days to respond to such default. In the event that within thirty(30) days <br /> of such notice Lessee has not commenced activities which will cure the noticed default if pursued <br /> diligently,then Lessor may terminate this Lease by written notice to Lessee. Other than such a <br /> termination, Lessor's sole remedy for any default by Lessee shall be the recovery from Lessee of actual <br /> compensatory damages, if any. <br /> 10.2. Partial Release. Lessee may surrender this Lease or release all or any portion of the Property <br /> by giving Lessor thirty (30)days written notice thereof at any time and from time to time. Any such <br /> surrender shall terminate all obligations of Lessee hereunder with respect to the acreage terminated, <br /> except for fixed Production Royalty or reclamation obligations which accrued prior to the effective date <br /> of the surrender. Upon any such surrender, or on the expiration or other termination of this Lease, <br /> Lessee will promptly prepare, execute and record in the office of the Montrose County Clerk and <br /> Recorder a Release which comolies with C.R.S. section 38-4%-104. <br /> 10.3. Pre-Existing Obligations. The termination or expiration of this Lease shall not relieve Lessee <br /> of any obligation to perform any obligations actually incurred as of the effective date of such <br /> termination or expiration, such as the payment of any outstanding Production Royalties owed for any <br /> previous periods or the performance of any additional reclamation work which may be required by law. <br /> With respect to the latter requirement, after the termination or expiration of this Lease, Lessee shall <br /> have continued access to the Property for the limited purpose of performing any such required <br /> reclamation work until such work has been satisfactorily completed. <br /> 11. MISCELLANEOUS <br /> 11.1. Entire Agreement. This Lease is the entire agreement between the parties, and no <br /> modification hereof or additions hereto shall be effective unless in writing and agreed to by the parties <br /> hereto. All negotiations and agreements and earlier drafts, if any, relative to the matters contained in <br /> this Lease are merged herein. Lessor and Lessee acknowledge and warrant that no representations, <br /> covenants or other matters inducing or regarding the execution of this Lease exist other than those <br /> expressly set out in this Lease. <br /> 11.2. Titles. The titles to the respective sections hereof shall not be deemed to be part of this Lease <br /> but shall be regarded as having been used only for the convenience of the parties. <br /> 11.3. Colorado Law. This Lease shall be construed in accordance with and governed by the laws of <br /> the State of Colorado. <br /> 11.4. Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under <br /> the applicable present or future laws, then it is the intention of the parties that the remainder of this <br /> Lease shall not be affected,and that in lieu of such illegal, invalid or unenforceable clause or provision <br /> there shall be added as a part hereof a substitute clause or provision as similar in operation as may be <br /> possible to any such unenforceable clause or provision. <br /> 11.5. Attorney's Fees. In any action brought to enforce the rights or obligations of either party <br /> under this Lease,the prevailing party shall be entitled to recover all of its reasonable costs and <br /> expenses, including attorney's fees, incurred in prosecuting or defending such action. <br /> 11.6. Confidential Matters. All data and information obtained or developed by Lessee relating to <br /> the Property shall be the sole property of Lessee, and Lessor shall not have access to any such <br /> data or information, except as otherwise provided herein. <br /> 11.7. Execution. This Agreement may be executed in one or more counterparts, each of which shall <br /> be as fully binding on the signatory parties as if executed by all parties, and all of which shall constitute a <br /> single document. <br /> 4 <br />