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24. Time of Essence: <br /> Time is of the essence of this Agreement. The failure of a party to insist upon a strict <br /> performance of any of the terms, conditions and covenants herein or to exercise any <br /> remedy available to it will not be deemed a waiver of any rights or remedies that <br /> said party may have and will not be deemed a waiver of any subsequent breach or <br /> default in terms, conditions and covenants herein contained. <br /> 25. Severability: <br /> If any term or provision of this Agreement or the application thereof to any person <br /> or circumstances will to any extent be invalid and unenforceable, the remainder of <br /> this Agreement or the application of such term or provision to persons or <br /> circumstances other than those as to which it is invalid or unenforceable will not be <br /> affected thereby, and each remaining term of this Agreement will be valid and be <br /> enforced to the extent permitted by law. <br /> 26. Modification: <br /> Any modification of this Agreement must be in writing and signed by the parties. <br /> Grantor shall not be bound by any oral representations or statements. <br /> 27. Non-Waiver: <br /> The waiver by Grantor of any breach or the failure of Grantor to require strict <br /> compliance with any term herein shall not be deemed a waiver of any subsequent <br /> breach. <br /> { <br /> 10 <br />