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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 />