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5. Default: In the event of a default hereunder by either party, the non - defaulting <br />party shall give written notice to the defaulting party specifying the terms of the <br />particular default and the defaulting party shall have thirty (30) days after receipt of such <br />notice either to cure or undertake and proceed diligently to cure, such default. In the <br />event the defaulting party shall cure the default in a timely manner, this lease shall <br />continue in full force and effect as though no default had occurred. In the event any <br />default is not cured in a timely manner the non - defaulting party may elect its remedies <br />as follows: <br />A. Suit for damages. <br />B. Termination of this agreement at the election of the non - defaulting party. <br />6. Termination: This Lease shall automatically terminate at the end of the term. <br />This Lease shall also terminate upon the election of either party to terminate same after <br />an uncured default by the other party has occurred. Such termination shall not relieve <br />the defaulting party from any damages it may be ultimately obligated to pay to the non - <br />defaulting party. <br />7. Indemnifications: AGUA shall have no responsibility or liability whatsoever for <br />any claim, demand, action or liability whatsoever asserted or arising as a result of the <br />use of the leased water rights by MARTIN MARIETTA, and MARTIN MARIETTA shall <br />indemnify and hold harmless AGUA from any claim, demand, action or liability <br />whatsoever asserted or arising as a result of the use of the leased water rights by <br />MARTIN MARIETTA. In addition, MARTIN MARIETTA agrees to pay, and to indemnify <br />AGUA against, all costs and expenses (including, but not limited to, AGUA's reasonable <br />attorney fees) incurred by or imposed upon AGUA, by or in connection with any <br />litigation to which AGUA becomes a party as a result of the use of the leased water <br />rights by MARTIN MARIETTA, or that may be incurred by AGUA in enforcing any of the <br />covenants and agreements of this Lease (with or without the institution of any action or <br />proceeding relating to the Leased Water Rights or in obtaining possession after an <br />Event of Default or upon expiration or termination of this Lease Agreement). AGUA <br />agrees to pay, and to indemnify MARTIN MARIETTA against all costs and expenses <br />(including, but not limited to, MARTIN MARIETTA's reasonable attorney fees) incurred <br />by MARTIN MARIETTA upon default by AGUA in enforcing any of the covenants and <br />agreements of this Lease. <br />8. Miscellaneous: <br />A. Complete agreement: This Lease and the Agreement contain the <br />complete and entire agreement between the parties regarding the transaction <br />contemplated herein, and supersede all prior understandings, if any, between the <br />parties regarding such matters. <br />2 <br />