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11. Lessee's Insurance. Lessee, or such sub-lessee as is approved by Lessor <br /> pursuant to the terms hereof, at its sole cost and expense, shall maintain in full force and effect <br /> during the entire Term of this Lease, insurance coverage in such types and amounts as are <br /> commercially reasonable and appropriate for the operation and use of the Premises as <br /> contemplated in this Lease. Lessee shall name Lessor as an additional insured under any <br /> applicable policies and shall provide Lessor with evidence of coverage prior to any operations or <br /> visitation of the Property. <br /> 12. Assignment. Lessee may not assign this lease, in whole or in part, or sublet the <br /> Premises or any portion thereof without the consent of Lessor. <br /> 13. Lessee's Default. The occurrence of any one or more of the following events <br /> shall constitute an"Event of Default" on the part of the Lessee: <br /> (a) The failure by Lessee, or any sub-lessee, to observe or perform any <br /> covenant or obligation under this Lease not covered by the other provisions of this <br /> Section, as and when required, and such failure is not cured or can not be cured within <br /> ten(10) days after Lessor gives Lessee written notice thereof; <br /> (b) The failure of Lessee to remedy, immediately after receipt of notice from <br /> Lessor, any hazardous condition which Lessee has created or suffered in breach of <br /> Lessee's obligations under this Lease; or <br /> (c) The purported subletting of the Premises or purported assignment of this <br /> Lease by Lessee without the prior written consent of Lessor; or <br /> (d) Lessee or sub-lessee shall (i) apply for or consent to the appointment of a <br /> receiver, trustee, custodian or liquidator of itself for all or a substantial part of its assets, <br /> (ii) be unable, or admit in writing its inability,to pay its debts as they mature, (iii)make a <br /> general assignment for the benefit of creditors, (iv) be adjudicated a bankrupt or <br /> insolvent, (v) file a voluntary petition in bankruptcy, or seek an arrangement with <br /> creditors, or take advantage of any insolvency law or file an answer admitting the <br /> material allegations of a petition filed against itself in any bankruptcy, reorganization or <br /> insolvency proceedings, (vi) take any action to effectuate any of the foregoing or (vii) <br /> become insolvent in either the equity or bankruptcy sense of the term, or(viii) have filed <br /> against it a petition in bankruptcy which is not dismissed within sixty (60) days after the <br /> filing thereof: or <br /> (e) The leasehold interest of Lessee is levied upon under execution or is <br /> attached by process of law. <br /> If an Event of Default occurs, then Lessor may exercise any one or more of the <br /> following remedies, to the extent permitted by law, or any other legal or equitable remedy <br /> permitted under applicable law: <br /> (a) Lessor may terminate this Lease upon the delivery of notice thereof to <br /> Excavation Lease Agreement <br /> Page 4 <br />