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-. _' . ; expressed is of the essence of this Agreement, and if Elam shall fail to make said payment or payments or shall fail to keep and perform the covenants herein contained, Chambers may give ELam written notice of intention to cancel this Lease Agreement thirty (30) days after such notice is given to Elam unless within said thirty-day period the default complained of shall have been cured, and if not cured at the end of said thirty-day period, this Lease Agreement shall become null and void, and Elam shall forthwith remove all of its property and vacate the premises. 14. Elam is hereby granted the option to extend the lease term for an additional five (S) years. In order to exercise such option Elam shall give notice to Chambers at least ninety (90) 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. 15. Any notice required pursuant hereto shall be in writing and shall be given by certified or registered mail, return receipt requested, addressed to the party at the address set forth in the introductory paragraph hereto. 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 notice delivered pursuant to this paragraph. 16. This Agreement shall be binding upon and inure ,~o the benefit. of the heirs, personal representatives, successors and assigns of the parties hereto. IN WITNESS [•THEREOF, the parties have hereunto set their hands the day and year first above written. _ ~ 7 Glen Chambers fT---f~J~t `~J • ~ L l [~~Z~J Dorothy -Chambers EI.A2•f CO/NSTRU~ lOC7, INC. '"Harold F. Elam, Secretary-Treasurer (SEE ACKNOWLEDG?iENT ON NEXT PAGE) -5-