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• may utilize contract miners, independent contractors, agents, employees, consultants, and other third parties to exercise its rights hereunder. It is further mutually understood and agreed that the rights, duties, and obligations created hereby shall extend to and be binding upon the parties, their heirs, executors, administrators, successors and assigns, and shall remain binding upon the parties in the event of assignment or other transfer of interest. 12. Taxes Picketwire will pay the real property taxes assessed against the Leased Lands, and Picketwire will pay the personal property taxes assessed against all improvements, equipment and personal property it places on the Leased Lands. NCE will pay all other taxes assessed against the Leased Lands, minerals therein, and timber, improvements and other personal property thereon. 13. Notice Any notice required pursuant to the terms of this tease shall be deemed valid three days after being mailed, certified mail, return receipt requested, to the following: If to NCE: North Central Energy, Inc. 16 Broadway Butte, Montana 59701 • If to Picketwire: Picketwire Processing LLC 1316 Bentwood Drive Evansville, Indiana 47711 14. Complete Agreement. This Lease including the exhibit hereto (a) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, between the parties hereto with regard to the subject matter hereof; (b) is not intended to confer upon any person any rights or remedies hereunder or with respect to the subject matter hereof except as specifically provided in this Lease; (c) shall not be assigned by operation of law or otherwise; (d) shall be governed by, and construed in accordance with, the laws of the State of Colorado; (e) may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which counterparts shall together constitute a single agreement; and (f) shall be construed without regard to which party or partvs agent drafted the document or any provision thereof. 15. Memorandum. Picketwire may prepare, and if prepared NCE shall execute, a memorandum of this tease sufficient to give notice to third parties of the • 5