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3. TERM. The term of this Lease Agreement shall be ten (10) years, commencing the I" <br />day of October, 2009 to and including the last day of September, 2019 ("Initial Term"), unless <br />sooner terininated as authorized or required herein. <br />County shall have the option to negotiate the term of this Lease Agreement beyond the Initial <br />'T'erm for an additional period of ten (10) years ("Extended Term"), provided Lessor has not <br />provided County with written notice of default claiming a default of any provision of this Lease <br />Agreement, and County has not timely remedied such default or Lessor has not waived such <br />default in writing, at the time of its exercise of such option. In the event County exercises the <br />option, it shall do so by providing Lessor with a written notice of extension not later than three <br />(3) months pz'ior to the expiration of the Initial Tern. The terms and conditions of this Lease <br />Agreement, as it may be amended fron7 time to time, in effect during tl'te Initial Term shall be <br />applicable during the Extended Term. <br />d. INDEMNIFICATION. To the extent allowed by law, County agrees to hold Lessor <br />harmless from any and all claims asserted by third parties for damages due to injuries sustained <br />to such third party's person or property as a result of County's negligence in the use of the <br />Premises pursuant to this Lease Agreement. <br />. RECLAMA'T'ION OF PREMISES, County agrees to reclaim all lands rained on the <br />Premises in such manner as may be required by the Mined Lands Reclamation Act of the State of <br />Colorado as is in effect on the date of this Lease Agreement and County agrees to complete <br />reclamation of such lands within one (I) year from the date of termination of this Lease or within <br />such time as is reasonably required to complete such reclamation obligations, whichever is the <br />longer period of time. County's reclamation obligation, inclusive of access and maintenance of <br />reclamation, shall survive the termination of this Lease Agreement. <br />6. MAINTENANCE OF PREMISES. County, at its sole cost and expense, shall maintain <br />all fences damaged due to activity on the Premises by the County or its subcontractor. County <br />shall also have the right to place gates or means of closing said fences at any point it nnay so <br />choose, or to erect fencing around the permitted boundary. Any installed pen-nit boundary fence <br />shall be removed by the County upon termination of contract or in conjunction with reclamation <br />process. <br />7. GRAVEL SUPPLY CONTINGENCY. It is understood and agreed that this Lease <br />Agreement is contingent upon there being in place on the Premises a supply of gravel deemed by <br />the County, in its sole discretion, to be adequate and suitable in quantity and quality to crush for <br />County road use. Should an inadequate supply of gravel be found to be the condition, County <br />shalt pay for all gravel it has crushed or removed but shall have no continuing obligation, other <br />than the reclamation obligation set forth in paragraph S above. <br />. TERMINATION: <br />a. FOR CAUSE: In the event of a default by either party hereto in the performance <br />of its obligations hereunder, the non-defaulting party shall give written notice to the defaulting <br />party of such default, and demand that such defaulting party remedy the default. If the default <br />has not been remedied, or the non-defaulting party has not agreed to waive the default in writing, <br />2