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remaining material. The length of this option will be for an additional five years. In order to exercise such option Elam shall give written notice to Lessor at least Ninety (90j days before the expiration of the original lease term. If the option is exercised, each and every provision hereof shall be applicable to such extended term. 12. NOTICE. Any notice required pursuant hereto shall be in writing and shall be given by certified or registered mail, return receipt requested, addressed to the parties at the addresses shown in the fist paragraph herein. Any such notice may also be delivered personally with receipt taken therefor. Such notice shall be effective on the date of mailing or on the date of receipt for personal delivery. Either party may change the mailing address for notices by written delivered pursuant to this paragraph. 13. DISPIITES. Elam and Lessor are both willing to try to solve any dispute through arbitration initially. If not able to solve through arbitration, all attorney fees and costs incurred in any dispute between Lessor and Elam will be their own responsibility. Arbitration to be in accordance of the American Arbitration Association. This Lease Agreement to be bound under the Rules and Laws of the State of Colorado. The State of Colorado, Division of Minerals and Geology requires that the operator of a sand and gravel facility provide agreements to be liable for any damages to any significant, valuable man-made structures located within 200 feet of the gravel operations. Elam hereby certifies that Lessor will be compensated for any costs incurred resulting from damage to their man-made structures located on, or within 200 feet of the leased premises. 14. 5EVERABILITY. If 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 finds 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, construed, and enforced as so limited. 15. ENTIRE AGREEMENT. This agreement contains the entire agreement of the parties and there are no other promises ox conditions in any other agreement whether oral or written. This agreement shall be binding upon and inure to the benefit of the heirs, personal representatives, successors and assigns of the parties hereto. 5