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without the prior written consent of Lessor. Lessor is under no obligation to give its consent and <br />may withhold its consent for any reasgn. <br />(B) Lessee and Lessor covenant and agree that Lessee may allow a <br />mortgage, security interest, lien, pledge or encumbrance (hereafter collectively "Encumbrance"), <br />in whole or in part, the leasehold estate created by this Agreement to arty person or entity <br />loaning funds to Lessee for purposes of this transaction without the prior written consent of <br />Lessor, and that such result may be brought about by operation of law without the prior written <br />consent of Lessor. <br />(C) If any consent for a Transfer or Encumbrance is granted by the Lessor, it <br />shall not be construed to be a waiver of the foregoing covenants as to any future action and any <br />consent shall so stipulate. <br />12. Compliance with Laws. Lessee covenants and agrees that it will, at all times, <br />with respect to its operations at the New Elk Facility (1) conduct its operations in compliance with <br />the provisions and requirements of all applicable laws of the United States and the State of <br />Colorado, now existing or hereafter in force and effect, and all rules and regulations promulgated <br />thereunder, (ii) make and file all maps, applications, reports and other documentation and data <br />required thereby and furnish copies thereof to Lessor, (iii) provide Lessor with copies of all <br />applicable permits, licenses and governmental approvals applicable to Lessee's operations <br />hereunder. <br />13. Removal and Abatement of Environmental Hazards. Should Lessee or its <br />employees or contractors do or omit to do any act on the New Elk Facility which creates or <br />contributes to the creation of any condition constituting a common law nuisance or an <br />environmental hazard, or which causes or is likely to cause pollution of air, water or streams, or <br />contravenes any law or requires continuing expenditures in order to comply with the law after <br />termination of operations, Lessee covenants and agrees to, at its sole wst and expense, remove <br />same from the New Elk Facility or otherwise abate the condftions creating or coritributing to the <br />creation of the foregoing conditions. <br /> <br /> <br />