Laserfiche WebLink
• • <br />prescribed in paragraph l 5 of the Lease. <br />2.2. Such notice shall be accompanied by a payment of <br />2.3. Lessee shall, within the three (3) year option .period aforesaid, (i) have commenced <br />exploratory and development operations on the Leased Premises, and (ii) have obtained <br />the performance of substantial engineering services incident to, and necessary for, the <br />performance of such mining operations. <br />2.4. In the event Lessee shall, within the three (3) year option period mentioned in paragraph <br />1, above, fail to comply with the provisions of paragraph 2.2, above, then subject to the <br />exception made in paragraph 3, following, the option herein granted shall, upon written <br />notice by Lessor, be forfeited and at an end, and all rights and obligations of Lessee <br />hereunder shall terminate. <br />3. EXPLORATORY RIGHTS. During the option period, Lessee, at its expense, shall, without <br />compensation to the Lessor, enter upon the Leased Premises and perform such exploratory <br />and development operations as shall be necessary adequately to determine the quantity, <br />quality and accessibility of the coal therein, including without limitation or obligation, the <br />right to core drill and to remove coal from the Leased Premises. <br />4. COMPLIANCE WITH LAWS. Lessee shall, prior to the commencement of any operations <br />under the authority of this Option A~areement or of the Lzase, obtain such licenses and <br />permits as may bz required by the State of Colorado. the United States. or am• other <br />~__>o~~ernmental authority hayin~_> jurisdiction thereof and ~yill, in its conduct of any such <br />operations, conduct the same materially in accordance ~~~ith all such licenses and permits and <br />with all applicable lays; statutes and rules and regulations of governmental authorities. <br />Lessee shall indemnify the Lessor against and save the Lessor harmless from any and all <br />claims, demands, loss, liabilit}~ and judicial actions of ~yhatsoeyer nature, includin~> attorneys' <br />^^h~ ,L <br />/ ~ ', J~r <br />