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. L <br />1. <br />applicable to Fishers or any of its property; (f) there are no <br />actions, suits, claims or other proceedings pending, or, to the <br />best of Ken Dochter's or Fishers' knowledge, contemplated or <br />threatened against Fishers that could affect Fishers' ability to <br />perform its obligations as required under the terms of this <br />Agreement and (g) the use of the Property by Fishers and its agents <br />and assigns shall not violate any tezv~ or condition of the Permit, <br />so long as the Permit (or any successor or replacement permit <br />thereto duly issued by the Mined Land Reclamation Division, <br />Department of Natural Resources, State of Colorado) remains in <br />place for the Property. <br />19. Times of Essence/Remedies. Time is of the essence <br />hereof. if any payment due hereunder is not paid, honored or <br />tendered when due, of if any other obligation hereunder is .not <br />performed or waived as herein provided, there shall be the <br />following remedies: <br />(a) Default by Fishers. In the event of a default by <br />Fishers, R'imrock and Davis may elect to treat this Agreement as <br />cancelled, in which case Landmark and Rimrock shall be entitled to <br />recover from Fishers $2,500.00 each. ALL PARTIES AGREE THAT <br />PAYMENT OF $2,500.00 TO LANDMARK AND RIMItOCK EACH UNDER THIS <br />PARAGRAPH SHALL BE LIQUIDATED DAMAGES AND NOT A PENALTY. <br />(b) Default by Rimrock. in the event of a default by <br />Rimrock, Fishers' sole remedy against Landmark, Rimrock, Davis and <br />Waters shall be an action for specific performance. Fishers hereby <br />waives any claim for .money damages against Landmark, Rimrock, Davis <br />or Waters arising from a default by Rimrock. <br />20. Notices. All notices, demands or other communications <br />required or permitted under this Agreement shall be in writing, <br />delivered. personally or by certified or registered mail, postage <br />prepaid and return receipt requested, addressed as follows: <br />If to Davis. Waters or to Rimrock: <br />Mr. Geoffrey Waters <br />1063 Quince Street <br />Boulder, Colorado 80304 <br />with conies tQ: <br />Ms. Lucy Gloria Davis <br />1390 Ash Street <br />Denver, Colorado 80220 <br />Lino S. Lipinsky de Orlov, Esq. <br />Hawley & VanderWerf, P.C. <br />730 17th Street, Suite 730 <br />Denver, Colorado 80202 <br />-7- <br />