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<br />(14) The consideration for the execution of this agreement by <br />the Surety is the promise of the Principal to pay the premiums, but failure by <br />the Principal to pay such premiums shall not invalidate or diminish t:he <br />obligation of the Surety hereunder. <br />(15) Any notice required or which may be given by a party <br />hereunder shall be deemed to have been received when made in writing and <br />delivered personally to the party to whom directed or five (5) days after <br />being deposited in the United States mail, proper postage prepaid, certified <br />or registered, with return receipt requested, addressed to the party to whom <br />directed as follows: <br />If to the Principal: <br />Executive Vice President <br />Cotter Corporation <br />9305 West Alameda Parkway <br />Suite 201 <br />Lakewood, CO 80226 <br />If to the Surety: <br />Aetna Life and Casualty Company <br />Attention: Bond Department <br />230 West Monroe <br />Chicago, Illinois 60606 <br />-44- <br />