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<br /> <br />c. Nonce address may be redesignated from time to time by <br />notice given [n the same manner as above. <br />26. Taxes <br />a. Each party shall be individually responsible for the payment of <br />real property taxes as presently levied and any and aA personal <br />property taxes now or hereafter payable on property owned by it, and <br />for all taxes levied upon income derived from its respective business. <br />b. COM, II~iC. and MI VIDA shaII jointly be responsible on a fifty <br />percent/fifty percent (5095/5096) basis for any increase is real <br />property taxes over current levels on the tailings pond properties or <br />the contributed (new) tailings pond properties due to or attributable <br />to the construction or operation of tailings pond facilities by COM, <br />INC. thereon under this Agreement MI VIDA shall inform COM. INC. <br />of any such increase of which it becomes Swam and shall supply COM, <br />INC. with applicable documentation which comes Into MI VIDA's <br />possession. MI VIDA and COM, INC. shall cooperate is making a <br />timely protest of any assessment deemed by the parties to be unfair or <br />unJustiAed and, if the parties desire to protest such assessment, the <br />protest shall be made at the parties' Joint fifty percent/fifty percent <br />(50~i5/5095) cost. The parties shall timely pay their respective shares <br />of the resulting increased assessment <br />c. If taxes axe levied or payable upon MI VIDA ores processed at <br />the Mill, either in the nature of severance, production or ad valorem <br />taxes, the parties shall be responsible for and shall pay such tax based <br />upon the relative percentages in which they have shared modiSed net <br />smelter returns ("NINSR" as defined herein) on the production during <br />the tax period. (For example, if the Colorado metalliferous production <br />tax for MI VIDA ores processed at the Mill in 1992 was $3,750.00. <br />and COM, INC. received 6.595 of total MNSR during that year, COM, <br />INC. shaII pay 5243.75 as its shaze, and MI VIDA $3.506.25.1 <br />27. Fu tr Documen and Assurances <br />Each party agrees to take from time to time such actions and to <br />execute such additional documents or instruments as may be <br />reasonably necessary and convenient to implement and cant' out the <br />intent and purpose of this Agreement. <br />20 <br />