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any party desires to enforce the provisions of this Agreement, then any such party may. submit <br />the dispute to binding arbitration in Greeley, Colorado in accordance with the rules of the <br />American Arbitration Association governing commercial disputes. Any such dispute or disputes <br />shall be resolved by arbitration by a single arbitrator experienced in oil and gas operations. <br />Surface Owner and KPK will attempt to agree upon an arbitrator within ten (10) business days of <br />thf; filing of a demand for arbitration if Surface Owner and KPK are not able to agree upon an <br />arbitrator within such 10-day period, the azbitrator will be selected by a District Court Judge <br />sitting in Greeley, Colorado. The arbitration heazing will be conducted within thirty (30) days of <br />the date the azbitrator is selected. The decision of the azbitrator shall be binding and final on the <br />parties and the prevailing party may obtain a judgment on the award pursuant to the then <br />applicable statutes of the State of Colorado. The fee of the arbitrator shall be paid one half by <br />Surface Owner and one half by KPK and the prevailing party as determined by the Arbitrator <br />shall be entitled to recover reasonable costs and attorneys' fees from the other party, which shall <br />be set by the Arbitrator in any such proceeding. Such costs and fees shall be in addition to any <br />other relief that maybe awarded. <br />17. Amendments. This Agreement may only be amended by an instrument in writing signed <br />by the parties hereto. <br />18. Severability. If any provision of this Agreement is held to be illegal, invalid or <br />unenforceable for any reason under present or future laws effective during the term hereof, such <br />provision shall be construed and enforced as if such illegal, invalid or unenforceable provision <br />had never compromised a part hereof and this Agreement shall remain in full force and effect <br />and shall not be affected by the illegal, invalid or unenforceable provision or by its severance <br />from this Agreement. <br />19. Recording. Upon prompt payment by Surface Owner to KPK as described ht Pazagraph <br />2 of this Agreement, KPK will deliver to Surface Owner the above referenced Release of <br />Easement Rights, which may be recorded by either party in the records of Weld County, <br />Colorado. <br />20. Counterparts and Signatures by Facsimile. This Agreement may be executed in <br />counterparts, each of which is deemed an original and all of which constitute collectively one <br />agreement, and in making proof of this Agreement, it shall not be necessary to produce or <br />account for more than one such counterpart. Any party may execute this Agreement by facsimile <br />signature, which shall be deemed an original signature for all purposes. <br />21. Miscellaneous Provisions. <br />a. Assignment and BindingEffect. This Agreement may he assigned by Surface Owner <br />wiihoul the, prior written consent of KPK or its successors and assigns. Alt of t?~e tears and <br />p;ovisior:s <>f u;is ~:~eentcnt si:ail hie b:rclarg upon and shall inure to the oenetit of the 1?a:*ics. <br />:iui their reslsectivc: hears, success.;a, tr:ateeF and :issign:;_ <br />t~. G+_yernin~_aw, ibis .'tges~ment shalt be iuaerpreted ruder the laws of the State of <br />Coiorado. <br />35 <br />Page 6 of 7 <br />