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<br />which will insure OWNER against liability for injury to or death of <br />persons or loss or damage to property occurring on the demised <br />premises. The liability under such insurance shall not be less than <br />$300,000.00 for any one person killed or injured, $1,000,000.00 for <br />any one accident, and shall sufficiently insure GWNER's property. <br />BLASTING agrees to indemnify and hold harmless OWNER against any <br />and all claims, debts, demands and obligations which may be made <br />against OWNER or against OWNER'S title in the premises, arising out <br />of, or in connection with, any alleged act or omission of BLASTING or <br />any person claiming under, by or through BLASTING. <br />BLASTING shall provide a copy of said insurance to OWNER within 3 <br />days of signing this Agreement and shall keep the same in full force <br />and effect during the duration of said Agreement. <br />10. SUB-LEASE of THIRD PARTY TRANSFERS. BLASTING hereby agrees <br />that it shall not sublease, transfer or otherwise encumber its right <br />pursuant to the terms of this Agreement without the express written <br />consent of the OWNER. Except as provided herein, BLASTING further <br />agrees that it shall not transfer rights to third parties to permit <br />the excavation or removal of road aggregates from the demised <br />premises. It is expressly provided, however, that BLASTING may from <br />time to time negotiate and enter into agreements with third parties to <br />crush, purchase and remove gravel and road aggregate material. In the <br />event, however, that BLASTING enters into such an agreement, BLASTING <br />shall pay an additional royalty premium of $ .10 per cubic yard for <br />all materials crushed, mined or removed from the demised premises. No <br />royalty premium shall be paid to OWNER, however, unless the total <br />gravel and road aggregate, crushed, <br />mined and removed by all third parties exceeds 10,000 cubic yards. <br />BLASTING shall remain responsible for compliance with all of the terms <br />and conditions of this agreement during the performance of any work or <br />occupancy by any third parties. <br />11. TERMINATION. In the event BLASTING does not mine, haul or <br />produce a minimum of 15,000 cubic yards of construction materials as <br />described herein during any continuous one year period, this Agreement <br />shall terminate and become null and void and BLASTING shall have no <br />further rights or privileges pursuant to the terms and conditions <br />hereof. Provided, however, in the event of such termination, BLASTING <br />shall remain fully responsible for all reclamation procedures set <br />forth herein or otherwise required by the Mined Land Reclamation Act <br />or any other appropriate local, state or federal agency. <br />12. COVENANT OF TERMINATION. In addition to any other provision <br />of this Agreement above set out, BLASTING covenants and agrees that <br />should BLASTING be adjudicated a bankrupt upon a voluntary petition or <br />Page 4 <br />s <br />