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<br />promise not included in this Agreement or any written amendment shall be binding upon the <br />parties. <br /> <br />21. TIME; HOLIDAYS. Time is of the essence of this Agreement. If any date set forth in this <br />Agreement or computed pursuant to this Agreement falls on a Saturday, Sunday or national holiday, <br />such date shall be deemed automatically amended to be the first business day following such <br />weekend day or holiday. <br /> <br />22. EFFECTIVE DATE. The "Effective Date" ofthis Agreement is the date the fully executed <br />Agreement is receipted by the Title Company. <br /> <br />23. ACCEPTANCE. This Agreement can only be accepted by Buyer executing same and <br />returning to Seller on or before 12:00 noon Central Time on July 15, 2006. If this Agreement has <br />not been executed by Buyer and returned to Seller by such time, this Agreement shall be null and <br />void. <br /> <br />24. WAIVERS. The failure by either party to enforce against the other any term or provisions <br />of this Agreement shall not be deemed to be a waiver of that party's right to enforce against the <br />other party the same or any other term or provision. The terms and provisions of this Agreement <br />shall not merge with, or be extinguished or otherwise affected by, any subsequent conveyance or <br />instrument between the parties, unless the instrument specifically so states and is signed by both <br />parties. <br /> <br />25. GOVERNING LAW. This Agreement and the obligations under this Agreement shall be <br />construed in accordance with, governed by, and shall be subject to, the laws of the State of Texas, <br />and exclusive venue for any dispute or claims in connection herewith shall be in the state or federal <br />courts of Texas. <br /> <br />26. EXECUTION IN COUNTERPARTS. This Agreement can be executed in counterparts, <br />each of which shall be an original and, upon the delivery to each of the parties of one or more of the <br />Agreement signed by all parties, together will constitute a fully executed and binding Agreement. <br />As soon as possible, the parties agree to exchange Agreements so that each party will have a fully <br />executed Agreement. <br /> <br />[Signatures on following page.] <br /> <br />7 <br />