Laserfiche WebLink
• <br />3. Term The tern of this Agreement shall commence on the Effective Date and <br />shall continue until November 30, 2006, unless terminated earlier as provided herein. Licensee <br />may terminate this A�reemeat at any time upon written notice to licensor at the following <br />address, 7B� f Lirrrn CV S'oS�3 Those obligations and liabilities to the Premises <br />or to Licensor under this Agreement accrued, existing, unrealized, or unfilled on the date of <br />termination , including but not limited to Licensee's reclamation obligations and the Colorado <br />Division of Minerals and Geology right to inspect the Premises through bond release, shall <br />survive such termination. <br />4. Consideration. As consideration for the rights granted to Licensee hereunder, <br />upon execution of this Agreement, Licensee shall pay to Licensor the sum of $125 per hole <br />actually drilled on the Premises during the term of this Agreement <br />5. Conduct of Qpmfious All exploratory activities of Licensee and its Agents shall <br />be conducted in a prudent, workmanlike, miner -like manner in accordance with established <br />mining practices, and in coordination with Licenso's use of the Premises. Licensee agrees to <br />conduct and cause to be conducted all activities in accordance with Paragraph 7 below. <br />6. Inscection by Licensor Licensee agrees to permit Licensor, or its Agents, to be <br />present during exploration activities upon the Premises for the purpose of taking samples and <br />observing the activities and operations of Licensee so long as such observation and sampling will <br />. be done so as not to unreasonably interfere with Licensee's activities and is in compliance with <br />Licensee's safety practices and restrictions. Such rights of the Licensor will be subject to the <br />requirement that all such information will be regarded as the confidential and proprietary <br />information of Licensee, and Licensor and its Agents .will treat and hold such information strictly <br />confidential. Licensee will be relieved of responsibility and liability for injury and damage to <br />Licensor or its Agents, while Licensor, or such Agents, are on the Premises, provided that such <br />injury or damage is not due to the gross or willful negligence of Licensee. <br />7. Compliance with Laws Licensee shall conduct or cause to be conducted all <br />exploration activities in compliance with all applicable laws and regulations. To the extent <br />necessary for Licensee's operations, Licensee shall obtain all necessary permits at its sole cost <br />and expense. Licensor will cooperate with and assist Licensee in making applications for all <br />permits, licenses, and approvals required by Licensee to conduct its activities on the Premises. <br />Licensee shall, at its sole cost and expense, undertake any and all reclamation that may be <br />required by law as a result of Licensee's exploration activities on the Premises and will backfill <br />any holes caused by its exploration activities on the Premises; provided, that Licensee shall not <br />be responsible for any pre-existing condition which may require reclamation during or after <br />termination of this Agreement. <br />8. Recordation This Agreement shall not be recorded, but the parties agree, at the <br />request of either of them, to execute a Memorandum of this Agreement for recording, containing <br />the names of the parties, the legal description of the Premises, and the term of this Agreement. <br />• <br />