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• INDEFII7ZFICATION AGREF.P~NT .f ~• <br />THIS AGREEN~NT is made and entered into this „y- day of November, 1996 <br />by and between Western Slope Flagstone, a sole proprietorship, hereinafter <br />• referred to as "Western Slope" and Powderhorn Properties Company, a Deleware <br />general partnership, hereinafter referred to as "Powderhorn". <br />W~RE119, Powderhorn currently owns and operates an electrical transmission <br />line, including above and below-ground supporting structures lying in the SW 1/4 <br />SW 1/9 of Section 35, Township 10 South, Range 98 West, of the 6th P.M., Mesa, <br />County, Colorado. <br />wHP.REA9, Western Slope is in the process of obtaining a mining permit from <br />the Colorado Division of Minerals and Geology for the purpose of mining and <br />removing rock and related activities within 200 feet of the electrical structures <br />owned by Powderhorn. Such mining activity is known and referred to as Western <br />Slope Flagstone Quarry No. 2 - Reference File No. M-96-076. <br />WHERE718, the Colorado Division of Minerals and Geology has conditioned such <br />mining permit on Western Slope indemnifying and holding Powderhorn harmless for <br />any damages that may occur to its electrical facilities within said 200 feet, as <br />a result of Western Slope conducting such rock mining activities authorized by <br />said mining permit. <br />NOW T~REFORE, except to the extent caused by the negligence of Powderhorn, <br />its agents, employees or assigns, western Slope shall defend, indemnify and hold <br />harmless Powderhorn, its agents, employees or assigns for any loss, cost or <br />damage to said electrical facilities, including, without limitation, reasonable <br />attorneys' fees and court costs, arising from or related to the exercise of the <br />rights granted under such mining permit. Western Slope shall conduct its <br />activities in a safe and prudent manner and shall comply with applicable rules <br />and regulations promulgated by federal, state and county agencies, including, but <br />not limited to reclamation obligations relating its mining operations. <br />• All of the covenants and agreements set forth in this Indemnification <br />Agreement are intended to be and shall be construed as covenants (and not <br />conditions) running with the land, binding upon, inuring to the benefit of and <br />enforceable by Powderhorn, and Powderhorn's successors and assigns. <br />IN SJITNE99 WHEREOF, Western Slope has caused this Agreement to be executed <br />and it shall become effective as of the day and year first above written. <br />Western Slope Flagstone, <br />a sole proprietorship <br />By: ~~~ <br />INDlvxavAL <br />STATE OF COLORADO) <br />)sa. <br />COVNTY OF I~9A ) <br />The foregoing instrument was acknowledged beforo :ne this ~~~ day of <br />n(`~l`~~~Z~`Q~L 1996 by Rudy Fontanari, sole proprietor of Western Slope <br />Flagstone. <br />witness my hand and official seal. <br />/ NOtdry PUb11C <br />DEC Qg 1996 My commission expires: ~~~ n! <br />Division of tvunerais a beoiogy <br />