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19. Time of the Essence. For purposes of this Agreement, time is of the essence. <br />• 20. Disclaimer of Other Warranties and Representations ~ Lessor. Lessee <br />acknowledges that it has inspected and is knowledgeable of the condition of the New Elk Facility. <br />Accordingly, the New Elk Facility is accepted on an as-is basis, with no warranties or <br />representations, either expressed or implied, with regard to the New Elk Facility. <br />21. Counterparts. This Agreement may be executed in one or more counterparts, all <br />of which taken together shall constitute one instrument. <br />22. Entire Understanding of Parties. This Agreement constitutes the entire <br />agreement between the parties and supersedes all prior and contemporaneous agreements, <br />representations and understandings of the parties. No supplement, modification or amendment <br />of this Agreement shall be binding unless executed in writing by ail parties hereto. <br />23. Savings Clause. If any provision of this Agreement is ruled invalid by a court of <br />competent jurisdiction, the remainder of this Agreement will remain in full force and effect unless <br />the invalidation of the provision substantially alters the essence of the Agreement. <br />• 24. Survival. Any provision which by its terms has or may have application after the <br />termination for any reason of this Agreement, including, but not limited to, atl of Lessee's and <br />Lessor's covenants of indemnity, shall be deemed to survive the termination of this Agreement for <br />any reason. <br />25. Governing Law and Venue. This Agreement shall be governed and construed <br />and the legal relationships of the parties determined in accordance with the laws of the State of <br />Colorado. <br />26. Bindin Effect. Subject to the provisions of numerical Section 11 hereinabove, <br />this Agreement shall be binding upon the parties hereto and their respective successors and <br />assigns. <br />27. Descriutive Headings. The descriptive headings contained in this Agreement <br />are for reference purposes only and shall not affect the meaning or interpretation of this <br />Agreement <br />. 14 <br />