Can someone help me understand what is going on here? Upon lauch, everything works fine and then after about a minute (sometimes longer), i get the error you see in the tittle. Please help, maybe there's something I'm not seing.

(ArgumentOutOfRangeException: Argument is out of range. Parameter name: index System.Collections.Generic.List`1[UnityEngine.GameObject].get_Item (Int32 index) Spawnhighway.Update () (at Assets/Scripts/Spawnhighway.cs:26)

using UnityEngine;
using System.Collections;
using System.Collections.Generic;

public class Spawnhighway : MonoBehaviour 
{
    public List<GameObject> Highways = new List<GameObject>();
    public float waittime = 3.0f;
    int highwayindex;


    GameObject thehighwayspawned;

    void Start()
    {
        highwayindex = Random.Range(1,8);
        thehighwayspawned = Instantiate((Highways)[highwayindex], new Vector3(10.44449f, transform.position.y, transform.position.z), Quaternion.identity) as GameObject;
    }

    void Update()
    { 

        if ( thehighwayspawned.transform.position.x <= 2.368699)
        {
            int highwayindexx = Random.Range(1,8);
            thehighwayspawned = Instantiate((Highways)[highwayindexx], new Vector3(9.686185f, transform.position.y, transform.position.z), Quaternion.identity) as GameObject;
        }
    }


}