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22. APPLICABLE LAW. <br />This Agreement shall be governed by and construed in accordance with the laws of the <br />State of Colorado, without reference to its conflict of laws provisions. <br />23. ENTIRE AGREEMENT. <br />This Agreement sets forth the entire understanding among the parties hereto regarding the <br />matters addressed herein, and supersedes any previous communications, representations or <br />agreement, whether oral or written. This Agreement shall not be ameitded, except by written <br />document signed by all parties. <br />25. EXECUTION AND BINDING EFFECT <br />This Agreement may be executed in any numbeti~of'eounterparts~eachof which shall be <br />deemed an original instrument but all of which together shall constitute tine„ and the same <br />instrument, and shall be binding upon and mute to the benefit of the parties, and; each of their <br />respective heirs, executors, admntistrators, successois -and assigns: and is executed:bq the parties <br />as of the Effective Date set forth above. "'' ' =' <br />{ <br />,<;. ,:.: <br />The parties have executed this Agreement on #he.day and year first:"above written. <br />JOHN W. ZADEI.,-MANAGING PARTNER <br />15 <br />