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19. The covenants and conditions contained in this Lease Agreement shall apply to and bind the heirs, legal
<br />representatives, and assigns of the parties, and all covenants are to be construed as conditions of this Lease
<br />Agreement .
<br />20. Any modification of this Lease Agreement or additional obligation assumed by either party in connection
<br />with this agreement shall be binding only if evidenced in a writing signed by each party or an authorized
<br />representative of each party.
<br />21. Tenant agrees to maintain liability insurance with a liability limit or use not less than $1,000,000.00. during
<br />the term of this Lease Agreement, insuring against all of Tenant's use and occupancy of the Premises. Landlord
<br />shall be named as additional insured on Tenant's policy. Tenant shall provide Landlord written proof of such
<br />insurance upon demand.
<br />22. This agreement is made with the expressed understanding and agreement that, in the event that Tenant
<br />becomes insolvent, is declared bankrupt, assignment of Tenant's property should be made for the benefit of a
<br />creditor, or if Tenant's leasehold estate, as created herein, shall be levied upon under execution, or seized by virtue
<br />of a writ of any court of law, or a receiver be appointed for the property of Tenant, then in any of the above events,
<br />the Landlord may declare this Lease Agreement ended and all rights of Tenant hereunder shall terminate and cease.
<br />23. All personal property, such as but not limited to, equipment, buildings, plants, machinery, vehicles,
<br />supplies and materials of any kind or description whatsoever upon the Premises, which is the property of Tenant
<br />shall be the Tenant's sole risk, and except for breaches of this Lease Agreement, the Landlord shall not be liable for
<br />any damage due to loss of such property, or for the damage or loss suffered by the business or occupation of the
<br />Tenant arising from any act of neglect of covenants or other occupants of the Premises.
<br />24. Landlord may enter upon the Premises, for any reason, during normal business hours, without notice.
<br />a. In the event of emergency, to either Landlord's personal property or real property or Tenant's
<br />property, Landlord may enter to prevent, reduce or save property, at any time.
<br />25. Tenant will not allow the Premises to be used for any purposes prohibited by the laws of the State of
<br />Colorado, or the ordinances of the County of Grand in which the Premises is located. In addition Tenant shall at all
<br />times operate the business located upon the Premises in compliance with all Federal, State and County rules,
<br />regulations and laws.
<br />26. It is agreed that no assent, expressed or implied, to any breach of any one or more of the agreements hereof
<br />shall be deemed or taken to be a waiver of any succeeding or other breach. Any payment by Tenant and acceptance
<br />by Landlord of a lesser amount than due shall be treated only as a payment on account and not as full payment.
<br />Failure of either party to timely pay for taxes, insurance, or repairs as required herein shall not be deemed a waiver.
<br />27. Landlord may make whatever use of the Premises, which is not being mined, quarried, for any purposes
<br />which does not interfere with Tenant's use of the Premises.
<br />Pickering Family LLC, Landlord
<br />_ B !? - 1
<br />Y=
<br />Fred Pickering. onager
<br />Flintstone Gravel & Trucking, Inc., Tenant
<br />By Pu* //1&
<br />Ted Pratt, President
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