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agree that the Lessee may not "hold over" <br />or continue to use, occupy or conduct any <br />operations on the leased premises, directly <br />or indirectly to facilitate any mining on the <br />Leased Premises or on any other land, <br />however briefly or temporarily from and <br />after March 2002. The parties agree that <br />Lessor is and shall be under no obligation, <br />express or implied to extend this lease or <br />to permit the Lessee to make any use or <br />occupation of the properties from and after <br />March 20, 2002, except for and exclusively <br />for the purpose of reclaiming the Leased <br />Premises consistent with the statutes, <br />rules and regulations administered by the <br />Colorado Mined Land Reclamation or its <br />successor. Consistent with its reclamation <br />plan, Lessee shall have a right of access to <br />the Leased Premises only for the purposes <br />of reclamation after March 20, 2002, <br />provided, however, that that right will <br />terminate thereafter as to portions of the <br />Leased Premises which are reclaimed to <br />the satisfaction of the Colorado Mined <br />Land Reclamation Board or its successors <br />consistent with applicable laws and <br />regulations." <br />According to our contract with Energy Fuels, they, <br />Energy Fuels cannot unilaterally decide to have an <br />extension. There have not been any reports from <br />the Colorado Mined Land Reclamation Board that <br />give any indication for the necessity of an extension <br />of the Conditional Use Permit. In fact, the latest <br />Colorado Division of Reclamation Mining and Safety <br />Coal Inspection Report dated August 24, 2007 (see <br />Attachment D) is most favorable as to the <br />reclamation progress. The report states: <br />o Pond 5 held a significant amount of water <br />due to recurrent rain storms since the last <br />inspection. Pond 4 held a small amount of <br />water for the first time in over four years <br />o Vegetation cover on the (refuse disposal) pile <br />is excellent. <br />3 <br />