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16. Termination. <br />A. Lessor shall have the right at Lessor' option to terminate this Lease if the <br />Company tails to perform any of its obligations hereunder as follows: <br />i. If the Company fails to pay when due any amounts to be paid <br />hereunder, Lessor may at Lessor's option give the Company written notice of su6h failure <br />and the Company shall have fifteen (15) days from the date it receives notice to pay the <br />amounts owed to Lessor. If the Company fails to pay the past due amounts to Lessor within <br />the fifteen (15) day period, Lessor may at Lessor's option declare the Company in default and <br />terminate this Lease. <br />ii. If the Company defaults in the performance of any obligation <br />hereunder other than the obligation to pay money when due, Lessor may at Lessor"s option <br />give written notice of such default to the Company, and the Company shall have thirty (3 0) <br />days from the date it receives such notice to cure the default.. If the Company fails to cure the <br />default within the thirty day period, Lessor may at Lessor's option terminate this Lease; <br />provided, however, that if the default is minor and the default can be fully compensated for in <br />damages, then such default shall not be a basis for cancellation or forfeiture of this"Lease or <br />any of Company's rights hereunder if the Company pays the full amount of damages within <br />thirty (30) days after demand by Lessor. If, through no fault of the Company, such :failure is <br />impracticable to correct within the 30-dayperiod, Lessor shall have no right to terminate this <br />Lease if the Company commences in good faith to correct the failure and provided that the <br />Company diligently pursues and completes the correction within a reasonable time. <br />B. The Company shall have the right, at its option, to terminate this Lease at the <br />end of any Lease Year during the Term by giving at least sixty (60} days prior written notice to <br />Lessor.. For early termination of the Lease without completion of mining by the Company of all <br />economically recoverable Materials from Property, Lessor shall be entitled to receive, additional <br />compensation in the form of two (2) non-refundable annual advanced minimum royalty payments for <br />the two years required for the restoration of the property described in paragraph 19 after the date of <br />termination, and any and all royalties due. <br />C. Upon termination of this Lease for any reason, the Company shall continue to <br />be liable for the performance of all obligations and the satisfaction of all liabilities to Lessor <br />including, but not limited to, the payment of royalties which have accrued prior to the date of <br />termination and the compliance with all laws, regulations, and permit conditions that apply to the <br />Property and the operations on the Property including, but not limited to all reclamation, <br />environmental and land use laws, regulations and permit conditions. The obligation to pay Advance <br />Minimum Royalty that would otherwise accrue after the date of termination of the Lease shall end <br />upon Lease termination, except as provided in Paragraph B, above. <br />-10-