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i <br />• that portion of the Starks Property not subject to this Lease so long as said residential <br />development shall not interfere with the present or future extraction of construction material from <br />the Leased Parcel. Except as herein above stated, any application for the aforementioned <br />governmental approval or approvals shall be made and pursued solely by Lessor at the sole <br />expense of Lessor and Lessor hereby agrees to indemnify and hold harmless Lessee from and <br />against all loss, costs and expenses of every kind and nature which maybe incurred by Lessor in <br />pursuing said approval or approvals. <br />11. Payment of Real Estate Taxes. Lessor agrees to pay all real estate taxes and <br />assessments levied against his severed surface estate, including the Starks Quarry Parcel ("Surface <br />Estate"), before the same become delinquent. In the event Lessor fails to pay such taxes, Lessee <br />may, at its option, pay any such taxes and assessments, and deduct the amount of such payments, <br />together with any penalties or interest required to be paid from any amount thereafter due to <br />Lessor hereunder, or, a[ its option, Lessee may pursue any other remedy it may be permitted by <br />law to protect its rights under this Lease Agreement. <br />Lessee agrees to pay al] real estate taxes and assessments levied against the severed <br />mineral estate lying under the Starks Property, including the Starks Quarry Parcel ("Mineral <br />Estate") before same become delinquent. In the event Lessee fails to pay such taxes, Lessor may, <br />at its option, pay any such taxes and assessments, and add the amount of such payments to any <br />amount thereafter owed to Lessor hereunder, or, at its option, Lessor may pursue any other <br />• remedy it may be permitted by law to protect its tights under this Lease Agreement. <br />12, Indemnification of Lessor. Lessee agrees to indemnify Lessor against liability on all <br />claims for damages and injuries to persons or property that may be claimed by any person or <br />entity to have resulted from activities or omissions of Lessee or its agents, or employees on the <br />Leased Parcel during the term of the Lease. <br />13. Default by Lessee. In the event any default occurs in the performance of any term or <br />condition of this Lease by Lessee, Lessor may give notice in writing to Lessee, demanding the <br />correction or removal of such default within thirty (30) days after receipt of said notice. In the <br />event Lessee fails to correct or remove such default within such period, Lessor may, at his option, <br />terminate this Lease. If this Lease is terminated by Lessor pursuant to this section, Lessor shall <br />have no further rights or remedies against Lessee except the forfeiture of this Lease. Lessee shall <br />have ninety (90) days after such termination within which to remove any improvements, <br />structures, or equipment placed on the Leased Parcel by Lessee. <br />14. Reclamation. Lessee shall be responsible for the surface estate reclamation of the <br />Leased Parcel and all costs incurred therefore as provided in the permit issues by the Mined Land <br />Reclamation Board Institute of Colorado ("Board"). Lessee shall be responsible for reclamation <br />only as agreed to by it with the Board and as documented in its Permit from the Board. The <br />reclamation of the Leased Premises shall be substantially completed in accordance with the <br />reclamation plan within the term of this Lease or any extension thereof or within twelve (12) <br />