Laserfiche WebLink
<br />the Other Party shall have the right at its option to terminate this Lease upon 30 days' written notice <br />to the Defaulting Party. If, through no fault of the Defaulting Party, such failure is impracticable to <br />collect within the 30-day period following its receipt of written notice thereof, the Other Party shall <br />have no right to terminate this Lease if the Defaulting Party commences with good faith and <br />continues with due diligence its measures to correct such failure. <br />B. Upon at least ninety (90) days prior written notice to Lessor, the <br />Company shall have the right to terminate this Lease as of the date the Company has completed <br />removal of all materials it determines, in its sole discretion, are economically recoverable. After <br />termination becomes effective, the Lessor shall not be entitled to any additional compensation for <br />termination prior to the end of the Term other than production royalties due. <br />C. Except as provided in Paragraphs 14 and 15, upon any termination of <br />this Lease by either party, all rights and obligations of the parties hereunder shall cease except any <br />right or obligation which occurred prior to the effective date of such termination. <br />14. End of Term. The Company shall have the right, from and after the <br />expiration of the Term of this Lease or the earlier termination hereof, to dismantle and remove <br />plants, machinery, equipment, improvements, and other facilities installed or constructed on the <br />Property by the Company and to sell and remove Materials then stockpiled on the Property. The <br />Company shall pay to Lessor for all Materials so removed from the Property production royalties <br />as provided in Paragraphs 2 and 3 of this Lease. All such Materials shall be removed from the <br />Property within two (2) years after termination or expiration of this Lease unless Owner and the <br />Company negotiate a mutually satisfactory lease agreement to extend the time for removal. <br />15. Restoration of Propertv. Within two (2) years after the expiration or earlier <br />termination of this Lease, the Company will grade overburden piles and pit walls on the PropeRy <br />to a grade that will accommodate ultimate reseeding and will reseed such areas. Following the <br />expiration or termination of this Lease, whether termination is for default of the Company, or <br />othznvise, Lessor covenants that there shall be no further extraction of Materials until Lessor or <br />others desiring to make such extraction shall acquire a Mined Land Reclamation Permit in their <br />