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With copies to: <br />• Robert A. Bassett, Esq. <br />Dorsey & Whitney, LLP <br />370 17th Street, Suite 4700 <br />Denver, CO 80202 <br />15. Mereer <br />The terms and conditions of this Lease and the Surface Use Agreement executed <br />contemporaneously herewith contain the full and complete agreement between Hills and <br />Lorencito regazding the Leased Lands. The written provisions in this Lease supersede all prior <br />or contemporaneous, oral or written, communications and agreements between Hills and <br />Lorencito, including without limitation, a Right of Entry Agreement between the parties dated <br />December 1, 2000, and the letter of intent dated May 9, 2001. <br />16. Assumption of Obligations <br />Lorencito hereby assumes and agrees to pay, perform and discharge, all claims, costs, expenses, <br />liabilities and obligations with respect to the ownership, occupation, operation, maintenance, <br />exploration, development, mining or other activities of or on the Leased Lands by Lorencito, its <br />employees, agents and contractors, including without limitation all liabilities and obligations <br />under this Lease and those resulting from Lorencito's breach hereof. <br />• 17. Insurance <br />a. Prior to exercise of any rights under this Lease, Lorencito shall obtain and <br />maintain in full force and effect during the term hereof, at Lorencito's sole <br />expense, the following insurance coverage upon Lorencito's operations pursuant <br />to this Lease: <br />(1) Comprehensive or commercial general liability covering bodily injury and <br />property damage liability, including contractual, products and completed <br />operations with minimum limits of $5,000,000 general aggregate. All <br />such insurance coverage shall be occurrence form, except in excess of <br />$2,000,000 per occurrence where claims made coverage maybe <br />substituted if occurrence form is not generally available in the insurance <br />mazket. Hills shall be designated as an additional insured insofar as their <br />interests may appeaz; <br />(2) Comprehensive automobile liability covering owned, hired and non- <br />owned vehicles with combined single limit of $2,000,000; and <br />(3) Worker's compensation or industrial accident insurance providing at least <br />the benefits required by law, including employer's liability with minimum <br />limit of $5,000,000 per accident. <br /> <br />COAL LFASE FINAL 6-25-0I.dac 12 <br />