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tificates of Insurance, together with evidence that the insur- ance carrier has assumed the liability of Lessee hereunder and waives any of the terms, conditions or exclusions contained in the insurance contract which might affect or detract from the coverage for assumed liability of the named insured either by furnishing to CF&I a properly executed 'Assumption of Contract- ual Liability' endorsement or by Certificate of Contractual Liability Insurance coverage endorsed to provide that the insurance carrier shall provide full coverage for liability assumed by the named insured under this Agreement. All Certi- ficates of Insurance shall stipulate that CF6I will be given 30 days' written notice prior to any change, substitution or can- cellation prior to the normal expiration date. (c) The insurance limits set forth above represent the standard limits currently required by CF&I in its lease agreements. To the extent those standard limits increase dur- ing the term hereof, the limits set forth herein shall likewise increase; provided, however, that the limits required hereby shall not exceed those which are standard in the mining in- I dustry for similar contracts. ~ 7.5 Liability. Lessee shall be liable for all injuries, ' including death resulting therefrom, to all persons, including any member of the public, other than employees of CF4i who are on the Premises pursuant to paragraph 11.1 hereof, unless such , injury to any such CFSi employee is caused by Lessee's negli- ; Bence. Lessee shall be liable for all damage to. or destruction of property by whomsoever owned, including loss of use thereof and any other consequential damage, resulting directly or in- ~ directly, wholly or in part, from the prosecution or omission of any work or obligation under or required by this Lease and Lessee agrees to indemnify and save harmless CF&I, its parent, subsidiary or associated companies and their agents, servants and employees, from and against any and all liability, cost or expense arising therefrom, including all expenses, legal or otherwise, other than expenses for attorneys hired or retained by CF6I on its own behalf, incurred by CF&I in the investiga- ~ tion and defense of any claim or suit and all such expenses incurred in the settlement of any claim or suit where the set- tlement has been approved by Lessee. ' 7.6 Water (a) Any water or water rights that may be developed j by Lessee, the points of origin for which are located on the Premises, shall be developed and permitted or appropriated and adjudicated by Lessee in the name of CFbI and shall be owned by -5-