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,, J1 ~ ~ ~ year term of this agreement, or any renewal term hereof, H-P will immediately notify GEC by certified mail, returned receipt requested, of such determination. Upon the date of such notice, this agreement shall be deemed null and void and of no force and effect, and no party hereto shall have any further right, duty or obligation hereunder from and after said date. It is understood by H-P and GEC that the effectiveness of this agreement is subject to, contingent upon, and the term hereof shall cotmnence upon the latest date of occurrence of both of the following: Acknowledgement and approval of this agreement by the Colorado Mined Land Reclamation Board and that of any and all other applicable agencies and authorities; and upon the issuance to H-P by the Colorado Mined Reclamation Board of an amended permit for disposal of Newlin Creek Mine (gob). Notwithstanding any provision to the contrary contained herein, H-P shall have no obligation to exercise any or all of its rights hereunder and shall have no liability, obligation or responsibility for any or all damages, injuries (including death), demands, claims, actions or causes of actions arising out of or in connection with any exercise of said rights, except for those arising solely and directly out of its gross negligence or wilful misconduct. GEC agrees to save, protect, indemnify and hold harmless H-P from and against any and all damages, injuries including deaths, demands, claims, acts from or causes of acts in arising out of or in connection with any exercise of its rights, hereunder, except for those arising solely and directly out of its gross negligence of willful misconduct. AGREID TO AND ACCEPTID: G.E.C. MI S INC. ~ j j~~„ ~ .~ ~ / ~% , Its: ~ /. ..: ::. -'~..• , ~ / Date: ;, . . , , ~, Attest: HARRISON-PELTRON By: .~`t`.~2~ ~ Its: i, Date: / II Attest: ~~ ACKNOWLEDGID AND APPROVED COLORAIlO MINID LAND RECLAMATION BOARD By: Its: Date: -3- `--~--~ ~''-c b1.:32