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Page 8 <br />• (02) Binding Effect- The terms and provisions hereof shall be <br />binding upon, and inure to the benefit of the heirs, representatives , <br />successors, and assigns of the parties hereto and shall be binding upon <br />all future owners of all or any part of the Operation and shall be <br />deemed covenants running with the land. This Agreement shall be <br />placed of record so as to give notice hereof to subsequent purchasers <br />and encumbrances of all or any part of the Property, and all recording <br />fees, if any, shall be paid by the Operator. <br />(03) Severable- In the event that any portion of this Agreement shall <br />be held invalid for any reason, the same shall not affect in any respect <br />whatsoever the validity of the remainder of this Agreement. <br />(04) Waiver- Any waiver, whether express or implied, by any party of <br />a breach of any provision of this Agreement will not operate as or be <br />construed to be a waiver of any subsequent breach of this Agreement. <br />(05) Notices- All notices and demands specified herein shall be <br />deemed appropriately and timely given when delivered personally or <br />deposited in the United States mail to the addresses hereinafter set <br />forth by certified mail (return receipt requested). The addresses of the <br />parties hereto are as follows until changed by written notice given as <br />• above: <br />~J <br />cupSHIEL/bz/sr <br />