2000-11-29_INSPECTION - M1980244

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506476 06/27/2000 11:45AM Pdge 2 oC 28 Connie Joiner, Clerk s Recorder, Teller County, Colorado Notwithstanding the foregoing, CC&V shall, so long as all required permits are obtained from applicable State, federal, and County agencies, entities, and departments, have the right to (1) engage in Mining Activities and/or related activities on and in the Property to the extent that such activities do not disturb more than an aggregate of two (2) surface acres for each Mining Activity, as hereinafter defined, and/or (2) build and maintain surface facilities or structures necessary or appropriate to conduct underground Mining Activities in the Property and adjacent properties. Mining Activities allowed by this paragraph may not be contiguous. The foregoing shall be a covenant running with the Property and shall inure to the benefit of and be binding upon Teller County and CC&V and their successors and assigns; EXCEPT, however, that this Agreement shall be suspended without further action by CC&V, its successors or assigns, during such time that either or both of the above-described conditions cease to be maintained or are Materially Modified. 1. Definitions. (a): For the purposes hereof, the terms "Mining Activity" and "Mining Activities" shall mean a mining activity which requires and is conducted pursuant to a permit for mining issued by the State of Colorado in accordance with C.R.S. 34-32-101 et seq or any replacement thereof that may be enacted. Notwithstanding the inclusion in such permit, any environmental monitoring, surface-water hydrology management and other similar types of environmental management activities, including environmental resource mitigation, are not a "Mining Activity" or "Mining Activities " and are considered compatible with the purposes of the Property and may be, so long as all required permits are obtained from applicable State, federal, and County agencies, entities, and departments, conducted without limitation by this Agreement. (b): For the purposes hereof, the term "Property" shall mean lands the surface of which is are owned or controlled by CC&V, or by business entities owned by, or owners of, CC&V, located within the Victor-Goldfield Buffer Area and located within the Cripple Creek Historic/Recreation Area, both of which are depicted on the attached Exhibits B and C, respectively. (c): For the purposes hereof, the term "Materially Modified" shall mean Land Use Regulations adopted by the County subsequent to the effective date hereof which modifications materially and adversely affect CC&V's current or anticipated activities in the Cripple Creek Mining Overlay District of Teller County. Adoption of maps in the Teller County Land Use Regulations that do not conflict with the Cripple Creek Mining Overlay District or that expand the Cripple Creek Mining Overlay District shall not be considered to Materially Modify. A reduction in the Cripple Creek Mining Overlay District shall be considered to Materially Modify. 2