2011-01-03_PERMIT FILE - M2011001 (22)

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payment of royalties which have accrued prior to the date of termination, reclamation of the Right -of -Way pursuant to Paragraph 6(c), and the compliance with all laws, regulations, and permit conditions that apply to the Right -of -Way. Any obligation to pay Advance Minimum Royalty that would otherwise accrue after the date of termination of the Agreement shall end upon Agreement termination. Should a Colorado State Mined Land Reclamation Board Permit ( "Permit ") and Bond ( "Bond") be required for this activity, Grantee shall be allowed access to the site following termination of this Agreement without incurring any obligation to pay Grantor or Ditch Company any monies for this right in order to complete Grantee's reclamation obligations under the Permit and to recover its Bond. Upon termination of this Agreement, Grantee shall have six (6) months in which to remove its equipment and complete its reclamation obligations, excepting any activities including ongoing seeding and weed control activities required to achieve Bond release. 12. Assignment. This Agreement, and performance under this Agreement, may be assigned by Grantee without Grantor's consent if the rights granted to Grantee under the terms and conditions of this Agreement should be acquired by another person or entity as part of a transfer or sale of assets by Grantee. Grantee shall provide Grantor and Ditch Company written notice of any such assignment within 30 days of any such transfer or sale of assets. This Agreement may not be further assignable by Assignee except to an affiliate of Grantee's Assignee. 13. Miscellaneous. (a) Binding Effect. The obligations and benefits of this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective successors and assigns. (b) Notice. Notices, payments, consents, reports, or other documents required or permitted by the terms of this Agreement shall be in writing, and shall be deemed made and received on the date of the United States postmark thereon when placed in the United States mails, postage prepaid, return receipt requested, addressed as follows: If to Grantor: City of Greeley Attention: Chuck Esterly 1100 10th Street, Suite 300 Greeley, CO 80631 If to Ditch Company: The Boyd Irrigation Company Attention: Roger Schmidt, President & Lory Stephens, Secretary/Treasurer 1100 10th Street, Suite 300 Greeley, CO 80631 with a copy to: Melvin Dinner, Esq. 822 7th Street, Suite 540 Greeley, CO 80631 4