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1 <br /> Period Any subsequent sale, except to Elam shall be subject to this lease and any renewals or <br /> extensions thereof <br /> NOTICE. Notices under this Agreement shall not be deemed valid unless given or served in <br /> writing and forwarded by mail,postage prepaid,addressed as follows: <br /> LESSORS: <br /> Fetcher Lands,LLP <br /> Jay Fetcher <br /> Box 866 <br /> Clark,CO 80428 <br /> Charles E. and Bobbie Jean Vale <br /> Hassle Haven Ranch <br /> 54395 Routt County Road 62 <br /> Clark,CO 80428 <br /> ELAM: <br /> Elam Construction,Inc., Todd Bauer,President <br /> 556 Struthers Ave. <br /> Grand Junction,Colorado 81501 Telephone(970)242-5370 Fax(970) 245-7716 <br /> Such addresses may be changed from time to time by either party by providing notice as set forth <br /> above. <br /> TITLE WARRANTY, Lessors warrants title to the surface, mineral, sand gravel, fill dirt and <br /> topsoil leased and agree to indemnity and save Elam harmless from all liability, loss or damage <br /> Elam may suffer as a result of claims, demands, costs or judgments against it arising by reason of <br /> any defect in title. In the event that all or any part of the premises is encumbered by any lien, the <br /> Lessors shall obtain a written subordination of any such lien or encumbrance to the rights of Elam <br /> hereunder, and upon failing so to do Elam may declare this Agreement terminated. Lessors <br /> warrants ingress,egress and unobstructed access to the premises. <br /> HEIRS AND ASSIGNS. All the covenants and agreements contained in this Agreement shall <br /> extend to and be binding upon the heirs, executors, legal representatives, successors and assigns of <br /> the respective parties hereto. <br /> SEVERABILITY. If any portion of this Agreement shall be held to be invalid or unenforceable <br /> for any reason, the remaining provisions shall continue to be valid and enforceable. If a court <br /> finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such <br /> provision, it would become valid and enforceable, then such provision shall be deemed to be <br /> written,construed,and enforced as so limited. <br /> Fetcher Vale Royalty Agreement <br /> Page 4 of 5 <br />