1
<br />9) Lessee shall nut mortgage, assign, convey, sublet, or set over any
<br />of its estate, interest. ~~~ rights hereunder or any part thereof, except with
<br />the written consent of Irs~.or and the written assumption by the transferee
<br />of all the obligations of Lessee in form satisfactory to Lessor; and no
<br />judicial or other sale or transfer of any kind, whether under any writ,
<br />order or decree issued I!y any court or judicial officer or tribunal, or in
<br />compliance with any orcli~r' u~• decree of an,y court of equity or in any pro-
<br />ceedings in bankruptcy, ;hall have the affect of transferring this lease or
<br />any of t.ha_ estate, interr~.l ur rights of Lessee fur any time or term, except
<br />with the written consent of Lessor and the written assumption by the trans-
<br />ferer~ of all the obligations of Lessee in form satisfactory to Lessor.
<br />10) Lessor, how"vrr, shall consent in writing to an assignment by
<br />Lesson of its rights ha~~.undcr to a qualified Colorado business entity with
<br />Lessee as a member, or I~~ an.y c:nrpuration subsidiary to or affiliated with
<br />or resulting from mergrr or consolidation of Lessee, provided any such
<br />assignee is of greater fin,inrial strength than Lessee and assumes in writing
<br />all the obligations of L,~ss~r in a form satisfactory to Lessor,
<br />11) I_assor', and ~ I ~. .nµ~nls, shall af. al I reasonable times have the
<br />right of entering the works and mines of Lessee in, upon or under the lands
<br />included herein to inspr~l, uxainine, survey or measure the Same, or any part
<br />thereof or for any righliul purpose and fur those purposes to use freely the
<br />means of access to said v;orkti and minas.
<br />1?) It is also undrritnnd and agreed that the failure of the Lessee to
<br />pay ib~' rent or royalty .r; herein stipulated, or the failure of the Lessee
<br />t0 C~~~,y!ly W1 Ch any tPrlll, prnVlsiOn Or' COndItlOn Of this lease the Lessor,
<br />upon I i f teen (15) days ,,r i t I ~~n not ice to Lessee at its „~ f ice i n Durango,
<br />Color Flo, specifying Lhr ~Irf,r~ill or defaults claimed by lessor, shall have
<br />the r~•iht to declare a f~uf~~iture of this lease, and after such declaration
<br />of fo~ieiture this leasr~ :hall terminate and end, provided, however, that if
<br />said IQSSI'e shall pa.y ~~r remedy the default or defaults claimed by said
<br />Lessor -: in said written entire within tha said period of fifteen (15) days,
<br />then tl~is lease shall rrmain, be and continue in full force and effect and
<br />to the same extent as t.h~inyh :aid notice had never been given.
<br />11) It is understood and agreed that the failure or neglect of Lessor
<br />to deg tare a fm•feil.ura nI this lease for any breach or breaches of any of
<br />the terms and provisions hereof by the Lessee shall not constitute or be
<br />Laken as a waiver of the right of said Lessor to declare a forfeiture of
<br />this Lease for any suhsrqurnl. breach or breaches hereof by said Lessee.
<br />1~) Any notice required or permitted under the provisions of this Coal
<br />Lease shall be given in wr-itiriq and shall be delivered by registered United
<br />States mail, postage prel?~rid wiltr return receipt requested, addressed to the
<br />party to receive such not~cr~ as follows:
<br />La Plata County Duard ul Inunty Commissioners, 1(160 E. 2nd Ave., Durango, CO
<br />• 81301
<br />La Plata foal CorpuraLiui~ al P.(l. E3ox 191, Duranyu, Colorado 81301.
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