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faith to correct the failure and provided that the Company diligently pursues and <br />completes the correction within a reasonable time. <br />iii. If the Company in good faith disputes in writing the existence of a default <br />alleged in a notice pursuant to subparagraph i or ii above, then. this Lease shall in no <br />event be terminated until there has been a final judicial adjudication that the Company <br />was in default and the Company thereafter fails to cure the same within the time allowed <br />under subparagraph i or ii, above, as applicable, measured from the time the judgment of <br />default becomes final and not subject to further appeal. <br />B. The Company shall have the right, at its option, to terminate this Lease at <br />the end of any Lease Year during the Term by giving at least sixty- (60) days prior written notice <br />to Lessor. Lessor shall not be entitled to receive additional compensation after the date of <br />termination, other than any and all royalties due. <br />C. Upon termination of this Lease for any reason, the Company shall <br />continue to be liable for the performance of all obligations and the satisfaction of all liabilities to <br />Lessor including, but not limited to, the payment of royalties which have accrued prior to the <br />date of termination and the compliance with all laws, regulations, and permit conditions that <br />apply to the Property and the operations on the Property including, but not limited to all <br />reclamation, environmental and land use laws, regulations and permit conditions. <br />D. Upon termination of this Lease with respect to all or any part of the <br />Property, the Company agrees to furnish Lessor with a document reasonably satisfactory to <br />Lessor verifying such termination and release of Lease. <br />E. Upon termination of this Lease by the Company for any reason, all sums <br />paid hereunder to Lessor shall remain the property of Lessor and shall not be recoupable or <br />refundable except to the extent that they have already been recouped or refunded as of the <br />effective date of termination, or except as expressly provided in Paragraphs 12.13 and C above. <br />F. If the Company terminates the Lease prior to the commencement of the <br />fifth Lease Year, the Company will pay an early termination payment of Two Hundred Fifty <br />Thousand Dollars ($250,000). All Advance Minimum Royalty payments and all Production <br />Royalty payments on sales in excess of the AMR's shall be credited against the early termination <br />payment. The Company will not be obligated to pay the early termination payment if the <br />Company terminates due to any of the following. (i) the Company does not acquire all the State, <br />Local, County and Federal permits necessary for material extraction and processing, (ii) the <br />Company does not satisfy the State Engineer's criteria and guidelines for substitute supply plans <br />or permanent augmentation plans, or (iii) the Company determines that Lessor's title to the <br />Property and Materials is not good and marketable. <br />. 16. End of Term. The Company shall have the right for six months from the date of <br />the expiration or termination of this Lease to dismantle and remove machinery, equipment, <br />improvements, and other facilities installed or constructed on the Property by the Company and <br />-9-