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3ti988~ai02ilaet3 ie:a4w esd(t+ P902 i.5'eieiR <br />3 eF ti R 0.00 D 0.00 N 0.00 E16K! Ceunly CO <br />5. PAYMENT OF TAXES. Lesscc as a governmental entity is not subject to tax <br />and during the term of this Iw:asc, the Premises Leased are not subject to real property tares. <br />Any taxes owed due to the operation oC a gravel pit shall he paid by Lessee. <br />6. CONDUCT OF OPERATIONS. <br />6.l Lessee shall conduct all operations hereunder in a manner necessary fur good <br />miner like and wonomical mining, with due regard for the safety and preservation of the Leased <br />Premises. <br />6.2 Lessee shall conduct its business on the Leased Premises in accordance with the <br />requirements of the Colorado Mined Land Reclamation Board, including, but not by way of <br />limitation, all obligations for reclamation of the property, whether imposed by this Lcasc <br />Agreement or by conditions contained within the permit, statute ur regulation. Lessee shall also <br />comply with all other applicable state, federal and local administrative bodies asserting <br />jurisdiction over the Leased Premises ur Lessee's operations thereon. <br />7. INDEMNITY AND INSURANCE. <br />7.1 During the in connection with atl operations conducted under this Lease, Lesscc <br />shall to the extent legal, save and hold harmless and indemnify Lessor against all claims, <br />demands and causes of action of any nature that may be acscrtcd against Lessor by suit or <br />otherwise for injury to or death of persons or for the loss or damage to property, together with <br />all costs and expenses, including reasonable attorney's tees, arising from or in any manner <br />gro.ving out of or connected with any operations conducted by Lessee under this Lease and <br />compliance by Lessee wi[h the insurance requirements of this Lease shall not relieve Lcssu of <br />this obligation. However. Nothing in this Lease Agreement shall be construed to abrrtgate or <br />limit the sovereign immunity granted to public entities pursuant to article ]U of title 24. C.A.S.. <br />the "Colorado Governmental Immunity Act". <br />7.2 Lesscc, at its expense, shall furnish to Lessor upon rcyuest, during the term of <br />their operations hereunder, a Certificate of Insurance showing [hat Lessee shall have in force <br />and effect at all times during their operations hereunder, puhlic liability and property damage <br />insurance coverage meeting the legal requirements of the Sfax of Colorado. <br />ii. TERMINATION. <br />8.1 Prompt payment of all amounts herein rcyuired and compliance with all of the <br />terms and conditions contained herein is of the essence of this Lease. If Lessee shall fail to <br />make any payment agreed to be made under this Lease err shall fail to keep and perform the <br />covenants therein a~ntained, Lessor may give Lessee written notice of its intention to cancel this <br />Lcasc thirty (3D) days following the date upon which such notice is given to Lessee unless within <br />said thirty-day period the default complained of shall have been cured, and if not cured at the <br />end of said thirty-day period, this Lease Agreement shall thereupon terminate; provided <br />however, that obligations incurred h}' Lessee pursuant In the terms hereof prior to such <br />3 <br />