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-5- • i ARTICLE 11. CANCELLATION Notwithstanding any provision herein to the contrary, the Lessee may at any time upon sixty (60) days written notice to the Lessor, cancel this Lease. Such cancellation shall not release the Lessee from any obligations or liabilities theretofore incurred I by him under the provisions hereof or from the making of payments which have already accrued at the effective date of such cancell- ation or termination. ARTICLE 12. REMOVAL OF EQUIPMENT The Lessee shall have and is hereby given and granted three (3) months, weather permitting, after a cancellation or termination of this agreement to remove from the said property all warehouse stocks, merchandise, materials, tools, hoists, headframes, com- pressors, engines, motors, pumps, transformers, electrical access- ories, metal or wooden tanks, pipes and connections, mine cars and any and all machinery and milling equipment. All permanent building, machinery foundations, ground drainage pipes, mine timber in place will become the sole property of the Lessor. ARTICLE 13. CONSTRUCTION, ASSIGNMENT Titles to the articles hereof shall not be deemed a part of this Lease, but shall be regarded as having been used for con- venience only. This Lease and Agreement shall be binding upon the parties hereto, their heirs, agents, successors and assigns, and shall be interpreted under the Laws of the State of Colorado. Assignment of this Lease shall be effective only upon written consent of the Lessor, which consent may be withheld for reason of the lack of financial integrity of the proposed assignee, and/or the lack of a good reputation of the proposed assignee for honesty and integrity within the mining community. IN WITNESS WHEREON this agreement is executed as of the day and year first above written. LESSOR: (~ ~ LESSEE: ~ ~ ~~ v~,~_ Subscribed and affirmed before me this ~~ day of 19~. My commission expires 9 `7~ d f~~ otary Public ARTICLE 14.LEASEES AGREES TO PROCESS 5,000 TONS IN 1991 AND 8,000 TONS ANNUALLY THEREAFTER DURING THE LIFE OF THIS CONTRACT.