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L :~ D. Elam shall weigh all material as it is removed from the leased site and keep good and accurate caeight records thereof. Elam shall provide Chambers with a written statement as to all materials removed from the leased site by it in the preceding month and make payment to Chambers of the royalty due therefor by the 25th day of each month for materials removed in the preceding month. 8. 6n the effective date of the term of thi-s Lease Agreement, and on each anniversary thereafter, Elam shall pay to Chambers One Thousand Two Hundred Dollars ($1,200.00) which shall serve as an advance royalty and shall be a credit against the next royalty due to the Chambers pursuant to the Lease P.greement . 9. Elam shall conduct its business on the leased premises in accordance caith each and every requirement of the Colorado i~fined Land Reclamation Board and Garfield County, ~, Colorado, including, but not by way of limitation, all obliga- lions for reclamation of the property whether imposed by condition contained within the permits, statute or regulation. 10. Chambers warrant the title to the leased premises. 11. This Lease Agreement may be terminated by Elam at any time by written notice from Elam to Chambers of intent to terminate. The written notice shall state the date on which the termination is effective. If the lease is terminated pursuant to this paragraph, Elam shall nonetheless be obligated to reclaim the land in accordance with the terms of any permits applicable 12. In the event that all or any part of the lease premises are encumbered by any lein at the time of execution hereof, Chambers shall obtain a written subordination of any such lein or encumbrance to the rights of Elam hereunder, and upon failing so to do Elam may declare this Lease Agreement - terminated-.- --- - -._ - -- - 13. Prompt payment of the amounts herein agreed upon to be paid by Elam and compliance with all terms and conditions -4- '~..,.