REV103139 - Laserfiche WebLink

Home Browse Search

SFX.TION SEVII9 PAYMENT OF TAXFS Lessor agrees to pay all real estate taxes levied against the leased premises before the same became delinquent. In the event Lessor fails to pay such taxes, Lessee may, at its option pay such taxes and assessments as may be levied against the premises, and deduct the amount of such payments, together with any penalties or interest required to be paid, from any amount thereafter due to Lessor hereunder. Any special taxes levied in connection with the removal of the material from the permitted area whether in the nature of property taxes or special taxes charged by the crounty or the State of Colorado for material removed and separate and apart from the real property taxes on the leased land shall be paid by the Lessee. Lessee shall also pay all property taxes on any buildings constructed upon the leased premises by it arx3 upon all machinery and equipment placed upon the leased premises by the Lessee. SECTION EIGHT RII~IOVAL OF IMPI3~VFMEN'I'S AND EQUIPMENT All improvements and equipment placed on the leased premises by Lessee except water well casing, fences, and gates, shall remain the property of Lessee, and Lessee shall have the right to remove such property prior to the expiration of this lease. On termination of this lease for any cause, Lessee shall have the right to remove all such improvements and equipment within a reasonable time, except water well casing, fences, and gates, but includuig any materials mined or produced but not rerroved on the date of termination, all subject to payment of royalties as provided herein. SECTION NINE INDENINIE'ICATION OI' LESSOR Lessee agrees to indemnify Lessor against liability on all claims for damages and injuries to persons or property that are claimed to have resulted from the activities or omissions of Lessee or its agents or employees during the term hereof. Lessee shall purchase public liability and property damage insurance in the amount of Five Hundred Thousand and 00/100 Dollars ($500,000.00); and 4~brlanen's Comq~erLSation Insurance which will be in effect at all times covering operations and employees on the project's site and will provide Lessor with certificates of such insurance. SECTION TEN FINANCIAL WARRAN'i7 Lessee shall provide a financial caarranty in the original amount of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) with in the form of a corporate surety bond, a certificate of deposit or a bank letter of credit in favor of INZA MOWBRAY, Lessor, since Lessor is providing a similar bond 4