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c? <br />1?1 <br />February 21, 2011 DRAFT Climax- Clinton Agreement <br />4. Remedies. In the event of any contamination of Clinton Gulch Reservoir, <br />Climax will take immediate steps to restore the water quality in Clinton Gulch Reservoir and <br />take all measures necessary to effectively prevent future contamination. Climax will fully <br />reimburse the Reservoir Company for all costs it incurs to acquire alternative water supplies <br />because of any such contamination, and shall also be fully responsible for any other damages <br />caused by such contamination. <br />Climax and the Reservoir Company agree that they will jointly request that <br />the terms, covenants and agreements in this Agreement and Paragraph 5 of the Purchase <br />Agreement be included as required conditions in any permit issued by DRMC pursuant to the <br />amendment requested by Climax in AM-06. Any violation of this Agreement shall be <br />enforceable in Colorado District Court as a contract action between the parties and, or in the <br />alternative, as a violation of the DRMS permit for the Climax Mine. <br />5. Withdrawal of Comment Letter. Given the provisions of this Agreement and <br />the Reservoir Purchase Agreement, and provided that the DRMS agrees to condition the <br />• permit amendment requested by Climax under AM-06 on full compliance with the terms of <br />this Agreement, the Reservoir Company agrees to promptly withdraw its July 8, 2010 letter <br />to DRMS regarding the AM-06 application and work cooperatively with Climax under this <br />Agreement in the manner outlined in this Agreement. <br />Executed as of the date first set forth above. <br />CLIMAX MOLYBDENUM COMPANY CLINTON DITCH AND <br />RESERVOIR COMPANY <br />Fred Menzer, <br />Vice President and General Manager <br />Climax Molybdenum Company <br />William Baum, <br />Chairman of the Board of Directors <br />Clinton Ditch and Reservoir Company <br />0