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difference or controversy shall be settled by binding arbitration to be conducted in accordance <br />with the Colorado Revised Uniform Arbitration Act, C.R.S. § 13 -22 -201, et seq., in force at the <br />time of such dispute, difference or controversy. In the event such binding arbitration becomes <br />necessary, the arbitration shall be held in the City and County of Denver, Colorado. If the <br />Parties are unable to agree within sixty' (60) days following written notice of any such dispute, <br />difference or controversy upon a single arbitrator to hear the case, each Party shall appoint an <br />arbitrator of their choice, which two (2) arbitrators shall appoint a .third arbitrator who will sit as <br />the Parties' appointed arbitrator to hear the case. The arbitration award may be enforced in any <br />court of competent jurisdiction. <br />4.8 Attorneys' Fees. In the event of any controversy, claim or action between <br />the Parties respecting this Lease and Operating Plan, the substantially prevailing Party shall be <br />entitled to an award of its reasonable attorneys' fees, costs and expenses that relate to or accrue <br />as a result of such controversy, claim or action. <br />4.9 Expenses. Each Party shall pay its own expenses related- to completing <br />this Lease and Operating Plan, including the fees of its attorneys, accountants and other <br />consultants. <br />.4.10 Other Agreements, The Parties have entered into various agreements in <br />the past concerning land use, mining and water storage issues at Bromley Lakes (a/kla Kenneth <br />Mitchel Lakes) and Erger's Pond (the "Prior Agreements"), - To the extent that any term, or <br />provision of the Prior Agreements is contrary or inconsistent with a term or provision of this <br />Agreement, this Agreement shall control; provided, however, that the Prior Agreements shall <br />otherwise remain in full force and effect, <br />4.11 Modification; Waiver; Delay. This Lease and Operating Plan shall not <br />be modified or amended, and no performance, term or, condition may be waived in whole or in <br />part, except in a writing executed by each Party. No delay or failure on the part of either Party. in <br />exercising any rights hereunder, and no partial or single exercise thereof, shall constitute a <br />waiver, of such rights or any other rights or benefits hereunder. No - extension of time for <br />performance of any obligation or act shall -be deemed an extension of the time for performance of <br />any other obligation or act. No waiver shall be valid unless it be made in writing, executed by the - <br />waiving Party, and delivered to the other Party. , <br />4.12 'Section Headings. The section headings in this Lease and Operating Plan <br />are for convenience of reference only, shall not be considered apart of this Lease and Operating <br />Plan, and shall not affect the validity or interpretation of this Lease and Operating Plan. <br />a <br />4.13 Counterparts. This Lease _and Operating Plan may be executed in <br />multiple counterparts and by facsimile copy each of which shall be deemed ad original, but all of <br />which shall constitute one and the same Lease and Operating Plan. <br />IN WITNESS WHEREOF, the Parties have, by their duly authorized <br />representatives, entered into this Lease and Operating Plan upon the Effective Date. <br />01 <br />