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<br />B. The Company shall have the right, at its option, to terminate this Lease at the <br />end of any Lease Year during the Term by giving at least sixty (60) days prior written notice to <br />Lessors. Lessors shall not be entitled to receive additional compensation after the date of <br />termination, other than any and all royalties due. <br />C. Upon termination of this Lease for any reason, the Company shall continue <br />to be liable for [he performance of all obligations and the satisfaction of all liabilities to Lessors <br />including, but not limited to, the payment of royalties which have accrued prior to the date of <br />termination and the compliance with all laws, regulations, and permit conditions that apply to the <br />Property and the operations on the Property including, but not limited to all reclamation, <br />environmental and land use laws, regulations and permit conditions. <br />D. Upon temiirtation of this Lease with respect to all or any part of the Property, <br />the Company agrees to furnish Lessors with a document reasonably satisfactory to Lessors verifying <br />such termination and release of Lease. <br />E. Upon termination of this Lease by the Company for any reason, all sums paid <br />hereunder to Lessors shall remain the property of Lessors and shall not be recoupable or refundable <br />except to the extent that they have already been recouped or refunded as of the effective date of <br />termination, or except as expressly provided Pazagraphs 11.B and C above. <br />16. End of Term. The Company shall have the right for 60 days from the date of the <br />expiration or termination of this Lease to dismantle and remove machinery, equipment, <br />improvements, and other facilities installed or constructed on the Property by the Company and also <br />to remove and sell Materials then stockpiled on the Property, subject to its obligation to pay <br />production royalties pursuant to Paragraph 3. <br />17. Restoration of Property. Within one (1) years after the expiration or earlier <br />termination of this Lease, the Company will seed and grade overburden piles and pit and backfill <br />areas on the Property to a grade that will accommodate ultimate reseeding. Following the expiration <br />or termination of this Lease for any reason, Lessors covenants that Lessors will not extract or allow <br />others to extract Materials until Lessors or others effect the transfer of the State Division of Minerals <br />and Geology Permit to their names for reclamation or rehabilitation of the Property and the release <br />of any security or bond provided by the Company to secure its performance or dischazge its <br />responsibilities. Unless Lessors desire to continue operations to extract Materials (either by Lessors <br />or through an operator, representative, or other lessee), the Company shall have the right and <br />obligation to access and enter the Property and effect on the Property such restoration, rehabilitation <br />and reclamation as may be required to dischazge the responsibilities which the Company has <br />assumed pursuant to its permits and under Pazagraph 7.D and to procure the release of any bond or <br />other financial assurance provided by the Company. <br />13. Assi,°mnent. The provisions of this Lease shall extend to and be binding upon the <br />heirs, personal representatives, successors, assigns and sublessees of Lessors and the Company. The <br />Company shall have the right to subcontract with others for the performance of exploration, <br />RECEIVED <br />s <br />MAR 3 0 2000 <br />Division of Minerals & Geology <br />