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b. Lorencito shall furnish Hills with cwrent certificates of Lorencito's insurance <br />evidencing compliance herewith, prior to commencing any operatious and <br />thereafter whenever Lorencito renews or makes any change in such coverage. <br />Such certificates shall state that the insurer or its agent, as the case maybe, shall <br />give Hills at least thirty (30) days' written notice prior to any change or <br />cancellation of said coverage, either in whole or in pari. <br />c. Without the prior written consent oC Hills, Lorencito shall not provide any porliou <br />of the insurance coverage required under this Section by means ofself-insurance. <br />18. Inspection by Hills; Audit Rights <br />Hills or their designated representatives shall (rave the right, upon adequate advance notice and <br />during normal business hours, at Hills' risk and cost, to inspect, review, audit, and, upon request <br />and payment therefor in a reasonable amount, receive copies of aft books and records of <br />Lorencito necessary for Hills to verify the amoral advance royalty and the coal production <br />royalty payable to Hills and all other rights of Ilills, and the performance of all duties of <br />Lorencito under this Lease. This shall include information of Lorencito pertaining to sales and <br />market price. Hills, or their designated agents, may inspect the operations on the Leased Lands <br />at any reasonable time; provided, however, that such inspections cannot interfere with the raining <br />operations of Lorencito, and such of the Hills so making such an inspection shall indemnify <br />Lorencito for injuries occurring to themselves or their respective designated agents during such <br />inspections to the extent that such injuries are uol caused by the negligence of Lorencito, its <br />agents, officers, employees or contractors. <br />19. Other Provisions <br />a. No modification of this Lease shall be binding on either party unless reduced to <br />writing and signed by both parties. <br />b. This Lease shall be governed by and construed and interpreted in accordance with <br />the laws of the State of Colorado, excluding its conflicts of law principles. Eaclr <br />party has participated in the drafting of this Lease, and this Lease shall not be <br />construed against any party on such basis. <br />c. Nothing herein shall be construed to make or constitute Lorencito or the Hills as <br />the employee, agent, partner, joint venturer or contractor of the other party. <br />d. The Hills shall conduct their operations on the Leased Lands so as to keep the <br />Leased Lands free and clear of all delinquent liens and encumbrazrces. The Hills <br />reserve the right to dispute any lien or encumbrance filed on the Leased Lands, <br />but agree to pay all amounts necessary to remove the delinquency resulting from <br />the Hills operations if the Hills do not prevail. <br />e. This Lease shall be binding on, and shall inure to the benefit of; the parties hereto <br />and their respective successors azrd assigns. Nothing contained in this Lease, <br />express or implied, is intended to confer on any other person or entity any <br />benefits, rights or remedies. <br />COAL LEASE FMALb-25-0I.doc 13 <br />