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To Sellers: c% Mike Adamson Adamson Brothers 8c Sons Feedlot P.O. Box 321 34360 County Rd RR Wray, co so7ss with a copy to Steve Bushong, Esq. Ponak Browning & Bushong LLP 929 Pearl Street, Suite 300 Boulder, CO 80302 Buyer and Sellers hereby agree to copy RRWCD on all Notices at the addresses provided below. Republican River Water Conservation District 4l0 Main Street, Suite 8 Wray, CO 80758 Attn: Stan Murphy, Manager and Hill & Robbins, P.C. 144] 18th Street, Suite l00 Denver, CO 80202 Attn: David W. Robbins, Esq. Notices shall be effective the next day following the date sent by an established express delivery service which maintains delivery records requiring a signed receipt; or upon receipt by the addressee of a hand delivery; or three days following the date of mailing via certified or registered mail, postage prepaid, return receipt requested. 16. Defaults and Remedies. (a) Defaults Prior to Closins. The representations, warranties and covenants made by Parties in this Agreement shall be treated the same as Conditions Precedent so that any failure of such a matter discovered before the Due Diligence Date shall be subject to Section 4, above, and any such failure discovered thereafter but before Closing shall be subject to Section 10, above. Notwithstanding the foregoing, if all Conditions Precedent have been satisfied and either Party fails to proceed to Closing then, subject to the satisfaction of the Closing delivery obligations of the non-breaching Party and RRWCD, such non-breaching Party shall be entitled to specific performance from the breaching Party. (b) Post Closing_ Defaults. From and after the Closing, the following terms and conditions shall control: (i) Sellers' Default. Sellers shall be in default hereunder if: (i) it is learned that any representation or wazranty made by Sellers herein was false in any material i x~es~ni is i~~2. i i 16 12368\1\1204400.5 Attachment 1 - 16