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<br />!f <br /> <br /> <br />~ <br /> <br />"- <br />~ <br />. <br />Ali <br />. <br /> <br />'-, <br />~ <br />; <br />, <br /> <br />J <br /> <br /> <br />remainder of such water right as is so required to HCWUA, not to exceed an additional six c,f.s. <br /> <br />thereof, without further payment by HCWUA. That portion of the water right to be acquired by <br /> <br />HCWUA in accordance with this Settlement Agreement is referred to herein as the "HCWUA Box <br /> <br />Springs Water Right," and any portion of such water right retained by Box Springs is referred to as <br /> <br />the "Retained Box Springs Water Right." By acquiring the HCWUA Box Springs Water Right, <br /> <br />HCWUA does not acquire any stock in Box Springs, nor assume any of the obligations of the <br /> <br />shareholders therein. Box Springs represents and warrants that its shareholders own the entirety of <br /> <br />the HCWUA Box Springs Water Right, and the Shareholders represent and warrant that such right <br /> <br />to be conveyed to the HCWUA will be free and clear ofliens or encumbrances at the time title is to <br /> <br />be delivered to HCWUA hereunder. <br /> <br />3,2 HCWUA, Box Springs and the Shareholders have agreed to a Purchase and Sale <br /> <br />Agreement for the HCWUA Box Springs Water Right, in the form attached to this Agreement as <br /> <br />Exhibit A and incorporated by this reference. Among other terms, upon satisfaction of the <br /> <br /> <br />contingencies in paragraph 6,1 hereof, the $520,000 payable to the Shareholders of Box Springs for <br /> <br /> <br />the HCWUA Box Springs Water Right under Exhibit A and the deed or deeds to HCWUAfonveying <br /> <br /> <br />the HCWUA Box Springs Water Righfshall be escrowed pursuant to the terms of:an escrow <br /> <br />..c,;- <br />agreement substantially in the form attached to Exhibit A, Thefunds shall be released to the <br /> <br /> <br />Shareholders pro rata as to their interests (or to the IRC 9 103 I qualified intermediary if requested), <br /> <br /> <br />and the deed or deeds and assignment or assignments to the HCWUA Box Springs Water Right shall <br /> <br /> <br />be delivered to HCWUA following Final Court Approval ofHCWUA's Plan, lfthe HCWUA Plan <br /> <br /> <br />does not receive Final Court Approval, the funds shall be returned to HCWUA and the deed or deeds <br /> <br /> <br />and assignment or assignments shall be returned to Box Springs. "Final Court Approval" means that <br /> <br />-5- <br />