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• Page 2 0( 3 UTILITIES AND SERVICES. Tenant shall be responsible for the following utilities and services in connection with the Premises: - electricity - garbage and Vash disposal - telephone service LiABIl.ITY INSURANCE. Tenant shall maintain liability insurance ta total aggregate sum of at least $1,000,000. Tenant shall deliver appropriate evidence to Landlord as proof that adequate insurance is in force. Landlord shall have the right to require thaz the Landlord receive notice of any temtination of such insurance policies. ASSIGNABII.TCY/SUBLETTAiG. Tenant may not assign or sublease any interest in the Premises without the prior written consent of Landlord. TERMIIVATION UPON SALE OF PREMISES. Not withstanding any other provision of this agreement, Landlord may not terminate this agreement without the written consent of the Tenant. NOTICE. Notices under this agreement shall not be deemed valid unless given or served in writing and forwarded by mail, postage prepaid, addressed as follows: LANDLORD: Rodney L. Whiting 140Whiting Road Whitewater, CO 61527 TENANT: Elam Construction, Inc., Harold F. Elam, President 1225 South Seventh Street Gland Junction, Colorado 81501 Such addresses may be changed from time to time by either party by providing notice as set forth above. ENTIRE AGREEMENT/AMENDMENT. This Royalty Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This agreement maybe modified or amended itt writing, if the parties obligated under the amendment sign the document. SEVERABIISCY. !E any portion of this agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court fords that any provision of this agreement is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, consented, and enforced as so limited. OPTION. The tenant is granted the option to extend the agreement teem for an additional period of 90 days after [he original 1 year has expired. >n order to exercise such option the tenant shall give written notice to Landlord az least Ninety (90) days before the expim[ion of the original agreement term. If the option is exercised, each and every provision herein shall be applicable. RELEASE OF AGREEMENT. The tenant will provide dte landlord with a, "Release of Contract Obligation', within a reasonable time at the completion of the agreement. ADDITIONAL PROVISIONS: a. Tenant shall be responsible for obtaining all necessary pemtits from [he US Govenunent, the State of Colorado and Mesa County. Landlord agrees [o assist in completing the permit applications by providing any necessary documentation that may be required by the various governmental agencies.