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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. <br />-3- <br />