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compliance with all federal, state, county and local laws and regulations, OWNER shall advise CLC of any special or unusual conditions required by any lease or other agreement applicable to the Property. 9. S2perative Provisions of Agreement. A. This Agreement states the entire agreement behveen the Parties, and replace all oral and written representations, correspondence and agreements by of between the Parties concerning the Property. No amendment or modification of this Agreement shall be binding unless made by ~i~itten instrument of equal formality. OWNER and CLC shall be entitled to insist strictly upon the timeliness of performance by the other party of the other party's obligations. B. All of the rights, duties, benefits, terms and covenants contained in this Agreement will run with the land and shall accrue to and be binding upon the successors and assigns of the Parties forever; and shall inure to the benefit of CLC, its directors, officers, employees, invitees, agents and representatives. C. No assignment of the Ageement of any interest therein and no sublicense for any purpose shall be made or granted by CLC without the prior written consent of OWNER, which shall not be unreasonably withheld. ]0. Termination. CLC reserves the right to withdraw, at any time, any portion of the Property from this Agreement or to terminate this Agreement in its entirety, for any reason, by providing OWNER with written notice thirty (30) days prior to such termination.. Upon expiration of this Agreement, CLC shall make a onetime payment to OWNER of Five Hundred Dollars ($500. 00) as a stipulated damage settlement for release of CLC by OWNER Upon payment by CLC, CLC and OWNER shall execute a written "Release", wherein CLC acknowledges the termination of this Agreement and dte rights granted herein, and OWNER waives and surrenders forever any right to damages or any other legal, equitable or administrative remedy for any toss, damage or injury to the Property resulting from the exercise by CLC of the rights granted herein. 1 ]. Notices /Payments All notices required or permitted hereunder shall be in writing and all payments required or permitted hereunder shall be paid by company check and both notices and payments shall be deemed to have been properly given and tendered when delivered to the other party in person or sent, postage prepaid, by registered or certif::d ::ail, return receipt reque;tcd, and addressed to the party at the address set forth below or such other address as shall be designated by either of the Parties prior thereto by written notice to the other party. OWNER: Cottonwood Land Company Louis M. Wyman Post Office Box 881007 PO Box 477 Steamboat Springs, CO 80488 Craig, Colorado 81626 Attention: Thomas B. Petrosky 12. Public Notice. CLC and OWNER shall execute a Memorandum of Surface Use Agreement of even date herewith stating the genera] provisions of this Surface Use Agreement and the lands