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21. SURFACE DAMAGES. <br />[Gravel Company] hereby waives all surface damage payments pursuant to any COGCC <br />or local regulation, state staute, common law or prior agreement, for each and every well that is <br />drilled within the Oil and Gas Operations Areas and for any access road, flowline, or pipelines <br />constructed on the Property. KMG may provide a copy of this Agreement to the COGCC as <br />evidence of this waiver. <br />22. ARBITRATION. <br />Any controversy or claim arising out of or relating to this Agreement, or the breach <br />thereof, shall be resolved by arbitration conducted in Denver, Colorado and shall be administered <br />by the American Arbitration Association under its commercial rules, and judgment on the award <br />rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. <br />23. APPLICABLE LAW. <br />This Agreement shall be governed by and construed in accordance with the laws of the <br />State of Colorado, without reference to its conflict of laws provisions. <br />24. ENTIRE AGREEMENT. <br />This Agreement sets forth the entire understanding among the parties hereto regarding the <br />matters addressed herein, and supersedes any previous communications, representations or <br />agreement, whether oral or written. This Agreement shall not be amended, except by written <br />document signed by all parties. <br />25. EXECUTION AND BINDING EFFECT <br />This Agreement may be executed in any number of counterparts each of which shall be <br />deemed an original instrument but all of which together shall constitute one and the same <br />instrument, and shall be binding upon and inure to the benefit of the parties, and each of their <br />respective heirs, executors, administrators, successors and assigns and is executed by the parties <br />as of the Effective Date set forth above. <br />19