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<br />So long as this Agreement is in force and effect. COM. INC. shall <br />have access to the described properties for the purpose of~disposing of <br />tailings 1n the tailings pond. and to the water, water rights and water <br />storage rights for the purpose of providing for or supplementing the <br />Mill's water supply for milling purposes. COM. INC. shall diligently <br />comply with arty and all legal or permit requirements for the use of <br />the water storage rights. water rights and the tailings pond. <br />b. The parties have discussed and considered the requirements <br />of Colorado law with regard to the use of water for mining and milling <br />purposes, and for the disposal of tailings in accordance with applicable <br />laws and regulations. . <br />The parties have pledged their mutual coapezatioa and good <br />faith in attempting to assure the Mill access to sufficient water and <br />tailings disposal capacity from resources available to them in the <br />general arses. which promise of cooperation and good faith contains no <br />warranty, explicit or implidt, that water or tailings disposal capacity <br />is, or will always be. available within the constraints imposed by <br />Colorado law or dreumstances currently unforeseen by the parties. <br />c. The parties are aware that at same future point during the <br />term of this Agreement, additional tailings pond capacity will be <br />required. It is intended by the parties that an additional pond or <br />ponds will be constructed upon adjacent lands currently owned by MI <br />VIDA. The capacity of the eadsting tailings pond is assumed to be <br />12.500 tons of tailings, of which an estimated 10.000 tons of capacity <br />is cturently available. <br />d. The parties wish to state the agreed basis for the future <br />acquisitton and construction of tailings pond capadty to standazds <br />required by applicable Iaws, regulations or permits. <br />a COM. INC. shall plan for the construction of additional tailings <br />pond capadty on a reasonable planning schedule based upon the rate <br />of flllirig of the existing pond and the likely amount of time required <br />for construction and permitting of a new pond or ponds. <br />f. MI VIDA shall satisfy its contribution obligation by contri- <br />buting the surface land interests required for new tailings pond <br />construction. The land contributed from MI VIDA's land holdings <br />shall consist of a surface interest in lands reasonably neaz the e~dsting <br />8 <br />