2011-03-30_REVISION - M1977493 (13)

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r • Colorado Water Quality Control Act, Colorado Hazardous Waste Act, United States Clean Water Act, United States Solid Waste Act, as the same may be amended from time to time, or regulations promulgated thereunder. The foregoing covenants shall run with and be binding upon the Clinton Canal and the land owned by Climax and more particularly described on Exhibit L attached hereto, for the benefit of the Land and Reservoir. The parties acknowledge that an increase in silt the Clinton Canal caused by normal maintenance of the Clinton Canal shall not breach the foregoing covenant. The Company acknowledges that Climax shall not be responsible for the introduction of pollutants to Clinton Canal or the Reservoir third parties. Notwithstanding anything to the contrary contained herein, Climax shall have no obligation to treat runoff entering Clinton Canal across unmined land owned, operated or controlled by Climax. in by 6. Reservoir Operations. The parties agree that operation and maintenance of the Property and certain adjacent canals and pipelines owned by Climax shall be subject to the following conditions: • (a) The Company agrees that it shall, at its expense, perform normal maintenance on the dam, outlet works and spillway of the Reservoir, and on all valve facilities that allow water to be discharged into the Clinton Canal or Supply No. 1 Canal (the "Canals"). The Canals are more particularly described on Exhibit K. The Company further agrees that it shall comply with all dam safety regulations applicable to operation of the Reservoir. (b) In exchange for the Company's maintenance of the insurance described below, Climax hereby releases the Company, its officers, directors, successors and assigns from any liability, loss, cost or expense, in excess of insurance proceeds available to Climax under any liability policy carried by the Company, incurred by Climax from damage to or the loss of Climax facilities downstream of the Reservoir caused by a failure of the dam appurtenant to the Reservoir, where such failure is not caused by the Company's negligent maintenance of the dam, spillway or outlet works, but is caused by inflow of water into the Reservoir in excess of normal yearly inflows. The Company agrees that it shall obtain and maintain comprehensive liability insurance for liability relating to the maintenance and operation of the Reservoir, in amounts of not less than $50,000 for each claim and in an aggregate amount of not less than $500,000 for all claims arising from any one incident. -7-