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Copy of notices shall be sent to: Vance Halverson, PO Box 773509, Steamboat <br />Springs, Colorado, 80477 <br />Until any party notifies the other parties in writing of a changed address, <br />which changed address shall be applicable until a similar notice be given. <br />19. Covenant of Quiet Enjoyment; Ownership and Access. Except as expressly <br />disclosed hearin owner covenants and warrants that at all times during the term <br />hereof and any extensions hereof, Lessee shall peaceably and quietly enjoy the <br />Property without disturbance by any person or entity claiming any interest in <br />the Property (except-for governmental bodies claiming through exercise of the <br />right of eminent domain or any statute, ordinance, governmental regulation or <br />permits}; owner further covenants and warrants that it has good and marketable <br />title to the Sand & Gravel on and under the Property free and clear of any prior <br />non-operating Sand s Gravel interests, including but not limited to, production <br />payments, and has the full right to enter into this Lease without violating the <br />rights or interest of any third party; owner further covenants and warrants that <br />by this Lease Lessee shall have all real property rights necessary to conduct <br />the Sand & Gravel mining and removal and related operations contemplated by the <br />terms of this Lease and that the Property has access to a public right of way <br />and that the Property is free of any hazardous and toxic materials. <br />19.1 Owner Disclosures. Owner has disclosed those claims, demands or <br />defects of title itemized as follows: <br />1. Colorado Department of Transportation Condemnation OOCV90. <br />2. Claim of Jarle Halsnes. <br />3. Items listed in Title insurance Commitment order Na. 008006X1. <br />With respect to CDOT, Owner shall be entitled to all proceeds. With respect to <br />Jarle Halsnes, the parties shall pay and satisfy their own legal expenses and <br />court costs if any and shall not claim as against each other any claim, demand <br />or damage. With respect to outstanding claims on account of minerals or oil and <br />gas, they shall be charged to Owner. <br />20. Governmental Regulations. <br />20.1. Lessee assumes all risk of loss as to Lessee's operations through <br />future zoning or other governmental regulation. Lessee shall bear the burden of <br />compliance with new or amended regulations. However, if in the future the <br />applicable governmental regulations are changed so as to deny Lessee the right <br />to excavate, process and remove Sand & Gravel from any significant unexcavated <br />portion of the Property where such is now permissible, or if Lessee is unable to <br />obtain required permits or approvals on reasonable terms and conditions, or if <br />such changes render Lessee's operations economically unfeasible, Lessee shall <br />have the option to cancel the within Lease within ninety (90) days after the <br />applicable regulation becomes effective, or the denial of .such required <br />approved, exercise of the option to cancel to be made by delivery to Owner of <br />Lessee's signed written notice of exercise within such ninety (90) day period, <br />9 stating with particularity the reasons therefor. If such zoning or other <br />~~ry, regulatory change has the effect of preventing excavation processing and removal <br />of Sand & Gravel as to only a portion of the Property, but does not render the <br />entire operation uneconomical, this Lease shall remain in effect as to the <br />portion of the Property not affected. <br />~ Q.~ . <br />~'°v <br />10 of 14 <br /> <br />