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<br />1/6/06 DO NOT RECORD <br /> <br />e. Licensee shall maintain the foregoing insurance coverage in force <br />throughout the term of this Agreement. The requirement for carrying the <br />foregoing insurance coverage shall not derogate from the provisions for <br />indemnification of Licensor by Licensee under the Agreement. . <br /> <br />ARTICLE 5 - TERMINATION AND DEFAULT <br /> <br />Section 5.01 Termination in the Event of Casualty or Condemnation <br /> <br />(a) In the event of any damage, destruction or condemnation of the License <br />Area, which renders the License Area unusable or inoperable in either party's <br />judgment, Licensee shall have the right, but not the obligation, to terminate <br />the Agreement with respect to the subject License Area by giving written <br />notice to Licensor within thirty (30) days after such damage, destruction or <br />condemnation. If, by virtue of such casualty or condemnation, either party <br />determines that the License Area is no longer adequate for Licensee to <br />continue its operations, or any repairs to the License Area have not been <br />completed or cannot reasonably be completed within sixty (60) days from the <br />date of the damage, destruction or condemnation, this License Agreement <br />will become null and void. <br /> <br />(b) In the event of condemnation, unless Licensee is allowed by the condemning <br />authority to continue its operations in the License Area, this Agreement shall <br />terminate as of the date title to the Property vests in the condemning <br />authority or Licensee is required to cease its operations, whichever is earlier. <br />If any property described herein or hereinafter added hereto is taken in <br />eminent domain, the entire award shall be paid to Licensor. <br /> <br />( c) In the event of a casualty or condemnation, Licensee shall be entitled to an <br />abatement of compensation payments. <br /> <br />Section 5.02 Termination <br /> <br />This Agreement may be terminated on thirty (30) days prior written notice as <br />follows: (I) by either party upon an event of default of any covenant or term <br />hereof by the other party, which default has been noticed and is not cured <br />within 30) days of receipt of written notice of default or longer if such party <br />has commenced to cure the default within the thirty days, but cannot <br />complete the cure within that time, or (2) by Licensee if Licensee is unable to <br />occupy and utilize the License Area due to any action of the Interstate <br />Commerce Commission or the Department of Transportation or ceases <br />operation at the License Area. <br /> <br />5 <br />