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• • <br />4. COMPLIANCE WITH LAWS: Lessee shall, prior to the commencement of <br />any operations under the authority of this Option Agreement or of the Lease, obtain <br />such licenses and permits as may be required by .the State of Colorado, the United <br />States, or any other governmental authority having jurisdiction thereof and .will, in its <br />conduct of any such operations, conduct the same materially in accordance with all <br />such licenses and permits and with all applicable laws, statutes and rules and <br />regulations of governmental authorities. Lessee shall indemnify the Lessor against and <br />save the Lessor harmless from any and all claims, demands, loss, liability and judicial <br />actions of whatsoever nature, including attorneys' fees and expenses of litigation, <br />arising out of or resulting from Lessee's activities under this option during the option <br />period, any extension thereof and any reclamation as provided in paragraph 7, below, <br />and the existence of this Option Agreement. <br />5. DEFAULT BY LESSEE: In the event of any default by Lessee during the <br />option period or any extension thereof of any provision of this Option, Lessor may give <br />to Lessee a written notice specifying such default and if, within thirty (30) days from <br />written notice thereof by Lessor in the manner set forth in paragraph 15 of the attached <br />lease, Lessee shall not have remedied such default in a reasonable manner, then, at <br />the expiration of such thirty (30) day notice period, Lessor may, by further written notice <br />to Lessee, may terminate this Option. <br />6. RECLAMATION AND RELATED WORK: In the event this Option is not <br />exercised by Lessee, Lessee shall nevertheless remain responsible and liable for all <br />reclamation and related work arising out of its activities on the Leased Premises and <br />i.~ <br />•, <br />3 .. <br /> <br />