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r 1 <br />L J <br />U <br />4. This Agreement shall remain in effect through the earlier of (1) one year <br />from the date hereof; or (2) the date on which Minrec receives written <br />notice from the DMG, and any other governmental agency which may then <br />have jurisdiction, that its reclamation and monitoring obligations have <br />been fully and satisfactorily performed, that its bond to secure those <br />obligations has been fully and finally released, and satisfactorily completes <br />its obligation to restore the adjacent lands in accordance with Section 2 <br />above; or (3) the date on which. Minrec receives written notice from the <br />DMG, and any other governmental agency which may then have <br />jurisdiction, that its reclamation and monitoring obligations have not been <br />fully and satisfactorily performed and that its bond to secure those <br />obligations is declared to be forfeited and all appeals or challenges thereto <br />are completed or waived. Minrec may, upon payment to Oxbow of <br />$100.00, extend such term for an additional one year, on a year-to-year <br />basis, if its bond has not been fully released by the end of the initial one- <br />year term, by delivering written notice to Oxbow at least sixty (60) days <br />prior to the end of such initial one-year term. The written notice shall set <br />forth in detail the progress being made by Minrec toward obtaining final <br />release of the Permit, specify the extension period (not to exceed one <br />year) and thereafter, the terms, conditions and provisions herein contained <br />shall remain in full force and effect. <br />5. Oxbow and Minrec each agrees to indemnify and hold the other party, its <br />officers, directors, partners, employees, agents and representatives <br />harmless from and against any and all claims, damages, costs, <br />judgments, losses and expenses, including reasonable attorneys' fees, <br />that result from or arise out of their respective acts, omissions, fault, <br />negligence or other conduct in connection with the Surtace Property <br />and/or the adjacent lands. <br />6. Minrec shall pay and discharge all taxes and assessments which, during <br />the term hereof, may become a lien upon or which may be levied by the <br />State, County or any other tax levying authority upon Minrec's intention or <br />activities on the Surtace Property and/or its use thereof. <br />• <br />7. In the event any mechanics' or other liens or orders for payment are filed <br />against the Surface Property, the adjacent lands or any improvements <br />located thereon by reason of or arising out of any labor or material <br />furnished or alleged to have been furnished, or to be furnished to or for <br />Minrec on the Surface Property or adjacent lands, or for or by reason of <br />any change, alteration, or addition to the cost or expense thereof, or any <br />contract relating thereto, Minrec shall, within thirty (30) days after written <br />notice from Oxbow thereof, either pay or bond the same or provide for the <br />discharge thereof in such manner as may be provided by law. Minrec <br />shall further defend on behalf of Oxbow, at Minrec's sole expense, any <br />action, suit or proceeding which may be brought thereon, or for the <br />enforcement of such liens or orders, and Minrec shall pay any damage <br />U1019733v3 3 <br />