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F.GOCO <br /> "GOCO"is the Great Outdoors Colorado Trust Fund. <br /> G.Grant <br /> "Grant"means this Grant, its terms and conditions,attached exhibits,documents incorporated by reference <br /> under the terms of this Grant,and any future modifying agreements,exhibits,attachments,or references <br /> incorporated herein pursuant to Colorado State law,State Fiscal Rules,and State Controller Policies. <br /> H.Grant Funds <br /> "Grant Funds"are the funds the State will provide on behalf of Grantee at Closing as set forth in§7.A. <br /> I. Owner <br /> "Owner"means the owner of the Property from whom Grantee is purchasing the Easement. <br /> J.Party or Parties <br /> "Party"means either the State or Grantee,and"Parties"means both the State and Grantee. <br /> K.Property <br /> "Property"is the real property legally described in Exhibit PLD and generally depicted on Exhibit PM <br /> attached hereto or on Exhibit PLD-Final and generally depicted on Exhibit PM-Final,to be attached at <br /> Closing. <br /> L.Purchase Price <br /> "Purchase Price"is the total amount of money Grantee will pay Owner to purchase the Easement. <br /> M.Title Commitment <br /> "Title Commitment"means a current standard ALTA form(s)in common use of a title insurance <br /> commitment issued by a Title Company authorized to do business in the State of Colorado,and insuring <br /> Grantee's interest in the Easement in an amount not less than the Purchase Price,together with,as applicable, <br /> any updates of the Title Commitment that are issued. <br /> 5.TERM and EARLY TERMINATION <br /> A.Term <br /> The Parties' respective duties and obligations shall commence on the Effective Date,and shalt continue <br /> through the Closing. <br /> B.Early Termination in the Public Interest <br /> The State is entering into this Grant for the purpose of carrying out the public policy of the State of Colorado <br /> as determined by its Governor,General Assembly,and/or Courts.If this Grant ceases to further the public <br /> policy of the State,the State,in its sole discretion,may terminate this Grant in whole or in part.The State <br /> shall notify Grantee of such termination in accordance with§14,specifying the effective date of the <br /> termination and whether it affects all or a portion of this Grant.Upon receipt of a termination notice,the <br /> Parties shall be subject to and comply with the provisions of§13. <br /> 6.PURCHASE AND SALE OF EASEMENT <br /> Subject to the provisions of this Grant,by the Closing,the State shall provide the title company,on behalf of <br /> Grantee,with the Grant Funds to purchase the Easement,and Grantee shall purchase the Easement from Owner. <br /> The Easement shalt burden the Property in perpetuity,and shall be substantially in the form set forth in Exhibit <br /> CE.Grantee shall maintain a complete file of all material records,communications,and other written materials, <br /> which pertain to the performance of the Grant, including the acquisition of the Easement,and shall maintain such <br /> records for a period of three years after the Closing Date.The State may audit such records at reasonable times <br /> and upon reasonable notice. <br /> 7.PAYMENT TO GRANTEE <br /> A.Maximum Amount Payable and Allocation <br /> The maximum amout payable by the State to or on behalf of Grantee for Grant Funds is Four hundred and <br /> twenty five thousand(425,000) as determined by the State from available funds. <br /> B.Available Funds-Contingency-Termination <br /> The State is prohibited by law from making commitments beyond the term of the State's current fiscal year <br /> and making payment to Grantee beyond the State's current Fiscal Year is contingent upon the continuing <br /> Page 3of12 <br />