Common use of Surrender of Property Clause in Contracts

Surrender of Property. 16.1 In case of termination of this Agreement under the terms hereof or for any cause, GOLD STANDARD shall have no liability or obligation hereunder except for those, including reclamation obligations, already accrued at such date of termination. Upon such termination, GOLD STANDARD shall surrender the Property to Owner and shall deliver to them a written instrument in further evidence of such termination, in appropriate form for recording. GOLD STANDARD shall have the right but not the obligation, to remove from the Property all property belonging to or installed by it, including but not limited to machinery; equipment; buildings; structures; fixtures; ores, waste, and other materials; and concentrated products of ores or other materials (collectively, "Personal Property"). If GOLD STANDARD desires to abandon any Personal Property, GOLD STANDARD shall give Owner notice that Owner may elect to allow such Personal Property. In the event of a conflict between the terms of this Article 15 and any relevant surface use agreement then in effect, if any terms or provisions of the surface use agreement shall control as to GOLD STANDARD's obligations of reclamation and removal of property from the surface. ARTICLE SEVENTEEN