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WARRANTIES. The Lessor hereby warrants that he is the owner of the lands hereinabove described and agrees to defend the title to said lands and shall hold the Lessee harmless with regazd to such warranty. TAXES. Lessor shall pay ail of the ad valorem real property taxes on the property. TERMINATION. This lease shall terminate at the end of the term described herein; however, the lease payments shall be subject to appropriation by the 'Lessee on an annual basis. Further, if the parties are unable to agee upon renegotiated payment terms, either party shall have the right to terminate this ]ease. ASSIGNMENT. This lease shall be nonassignable by the Lessee without having received'. the prior written consent of the Lessor, and no such attempted assignment without such consent shall release the Lessee from its obligations under the provisions of this lease unless the Lessor releases the Lessee from its covenants herein in writing. ENTIRE AGREEMENT. It is expressly understood by and between the parties hereto that this agreement contains the entire understanding of the parties hereto and is intended to be an integration of all prior understandings. The parties hereto shall not be bound by the terms, conditions, statements, or representations not contained herein. No change or modification of this agreement shall be valid unless the same is in writing and signed by the parties hereto. GOVERNING LAW. This lease shall be construed and enforced in accordance with the laws of the State of Colorado. BINDING EFFECT. This lease shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, heirs, successors, and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands aad seals as of the day and year first above written. LESSEE: LESSOR: BOARD OF COUNTY COMMISSIONERS OF OTERO COUNTY, COLORADO r' ~.