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16. SUCCESSORS. <br />The terms, covenants and conditions hereof shall be binding upon and shall inure to the benefit of <br />the parties and their respective heirs, devises, executors, administrators, successors and assigns. The <br />provisions of this Agreement shall be deemed covenants running with the land. <br />17. TERM. <br />This Agreement shall become effective when it is fully executed and shall remain in full force <br />and effect until Operator's leasehold estate expires or is terminated, and Operator has plugged and <br />abandoned all wells owned al] or in part by Operator ahd complied with the requirements of all applicable <br />oil and gas ]eases pertaining to removal of equipment, reclamation, cleanup and all other applicable <br />provisions of the leases and existing laws and regulations: When this Agreement ceases to be in full force <br />and effect, the parties shall execute any and all releases necessary to evidence the fact that this Agreement <br />shall no longer apply to the Property. <br />18. NOTICES. <br />Any notice or other communication required or permitted under this Agreement shall be <br />sufficient if deposited in U.S. Mail, postage prepaid, addressed to each of the following: <br />If to Operator <br />ME III Corporation <br />14Z$2 W. 4's Avenue <br />Golden, Colorado 80401 L <br />Attn: /v~qX. ~. ernes-F <br />If to Surface Owner: <br />Asphalt Paving Co. <br />14802 W. 44'" Avenue <br />Golden, Colorado 80403 <br />Attention: Jeffrey W. Keller <br />~~1~ <br />Any party may, by written notice so delivered to the other parties, change the address or individual to <br />which delivery shall thereafter be made. <br />19. RECORDING. <br />This Agreement, any amendment hereto, and any release entered into pursuant to Section 17 <br />above, shall be recorded by Operator, which shall provide the other parties with a copy showing the <br />recording information as soon as practicable thereafter. <br />20. SURFACE DAMAGES. <br />In consideration of the parties' rights and obligations, as outlined herein, this Agreement shall <br />constitute the agreement for surface damages required pursuant to the COGCC's Rules and Regulations. <br />Surface Owners waive any claim for surface damages, including all damages provided by the Oil and Gas <br />Lease, which surface damages are to the Oil and Gas Operations Area and to any portion of the Property, <br />including growing crops, buildings, irrigation ditches, feed lots, fences, etc., caused by Operator's <br />