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<br />AGllIi:V'1":NT FOil SALt: ANI) I'UHCIIASE OF UNITS OF
<br />NOHTIIEIlN COLOl(AI)O WAn:1l CONSt:HVJ\NCY IllSTntCT WATER
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<br />This Agl(~crllCllt is made nlld entered into the I(iLl. day or j\;1arch 2000, by alld between Ann D.
<br />SOl ('1!SSOIl cl ill. wh'.:lse mailing adul ('<.:<: is 2<120 Elmhurst Place, J ,flllglllonl, Colorado 80503
<br />h\.:lcin:dlc!' rcfCl rC'd to ;!~; "SI~1.1 ':!'." .mll Aristocrat Ranchette WaleI' Project, Inc. who5e nddrcss is
<br />J ',:::: I Ihle /'.\'Cllllt', hHl 1.1Ip10P I "1.lo!;ldll ROG21, hcrcill<lnCr rcreflt'd to as "BUYER",
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<br />W1TNESSETII
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<br />SELLER 11,1:; q; (~r:rc EHJI units, hcrcillaflcr ,crcrrcd to as "units" ofwalcr orllle Northern
<br />(>-:l(~r :!do Water CV~::'~'Y~1\cy I );slrid, ilclcinaOcr referred to as "NCWCD". The BUYER agrecslo
<br />!l\J:dl1~sC liol1l the SFU ,::,It :llld SFLLFlt ilglCCS to 5\.'11 to BUYER the units ofNCWCD water
<br />f\c:;c,~dilll.', to the ldlu\\':ll): !(llll~ alld cOlldilinns:
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<br />1. rl}l!..C1J/\Sr:_I.'J~,I(J~: Tilt p\JH:h~l';e price of tILe units shnll be $15,000.00 per unit, for a total
<br />p,;;chm;c price \lrTwo Illlllthcd Seventy Thollsand and llo/100-----u-DoIfHrs, ($270,000.00)
<br />IHyablc as fulluws:
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<br /><<. Tile slim or "!"hil ty ;'lloll::;rtlld and lH1/1 OO--_n-~----Dollars, ($30,000.00) as carnest mOllcy
<br />tkposit due ;lIld rnyablc Upl\n the signing of this agrecment; alld
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<br />t:. The balanc,e pI' (I. pUlch:l;,':' l"ice, in Ihe al1lOulll ()(Two Hundred Forty Thousand alld
<br />no! I OUn________ll(lll,II";" rS~>1O.000,OO), ill cash or certified funds shall be deposited with and
<br />held hy s:lid cs:'ro',v ngcnt ill ils escrow ac,:otllll on or before April 4, 2000 or no later than
<br />Olrc dny prior III iltc dcaJ~ill(, datc for IpUlsfcr applicatioll for the regularly scheduled April
<br />t\!C\VCIJ Ho;:\rtl f\k~lil1g, al which time this trallsfer is to be considered and actcd UpOIl.
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<br />2. F:~C.I~_UW_ (\C;! :1,j r: '1 lie par lies herelo "glee and <lppoinl as Escrow Agent:
<br />I :,I\,!d tdHC)', ~J:c., ~\}5 1)'.+1\\'lIl'e Ave, Suite P-I03, LOllgrnonl, ColoraJo 80501
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<br />J. j'!C.\v(1) BO^I~') A"l'U,( 'Yl\J... ^ pI opnl)' compleled application for <ll1otmclll trtlllsfer for the
<br />H'li!s ;1::: requiled tu nbtnin Northern Colorallo Waler COIlsclvancy District's approvallllllsl be
<br />r:'T:~!('d and rr:crJy FH'l't('!':\rntit1ll1o Ill,:, NeWel) Board ofDiT',xtors for I.h~ regularly scheduled
<br />ll1:f.:tillg to be held ^lllill<1, 2000. The deadline for lransfer application is April 4, 2000,
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<br />,I. f" .:}SI.NG: Clo~:illg ;Jlltl disLursClIlcll' of fund,'\ to the SELLER Crom escrow shall be completed
<br />I'i'IJlJ receipt II)' lllc 1~:;'~llJ\'J ^1'.Ctlt {ll" WI iltClll10licc from NCWCD of approval of the change of
<br />:::c ,d!(\llllelll COl1(lal;! to thc ..'..:cOUlIt orthe BUYER. Said dosing anJ disbursemenl of funds
<br />:,hall occur 110 1;11er lhan ",vtnly (20) days afier the date of Ihe NCWCD Board Meeting as
<br />'lelcllced illlmragl;ljll!.l <lb(lvc.
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<br />~ j lC}Y.C'-~...Jls~!~_SI FILF1U~' 01 JYER .',hall pay ;lIly transfer fee required by lhe Northern
<br />~ .,for:ldo WaleI' COII:;crvallCY Dislricl. S"id Fce is :no,oo.
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<br />(, (.'-~\'i'll'lo\I)LI'_^UI) 1..f'lf~U_MIU,^!'LCE RFI'ORT: The oWller oflhe ullits shall be respollsible
<br />k~r" j1rovillillg WI ;lll'll ptOfJft:l;i[ the unils arc not cnctll11ucreJ OR shall provide wrillcn slatemcnts
<br />frl./m alllcmkrs !Hl.villg a :;cclll'ily interest ill s<lid propelty or units staling under what terms and
<br />(' 'lldit;(Jrls lhe kl,(/CI' Sllill1 rdr"s~ s(lid ul1its from all)' mortgage, deed oftf1lst, or other security
<br />i:lstrull1cnt.
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<br />7. ,'.:\.lLLI~: Till]o.~ is oftl:., l..:-scrlCC hereor. Ir any note, check or other paymenl due hereunder is
<br />110! paid, honored t'r 11:IlJ{'lCd when (~.,c, or ifany olher obligation hercunder is nul perlormcd as
<br />1\.::' :in plo\'iJcd, there shilll be Ihf'; following remcdies:
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<br />n. IF BUYI :,~ IS IN DEFAULT, thell all payments ar1d things of value received hereunder
<br />shall be ltlt Il'itcd by BlJYER allt! IClairtcd 011 bchal(ofSELLER and both partics shtlll be
<br />thcrcancr Icka:;c,llhl!ll <!il . ,idigatiOllS hercunder. It is agreed that such payments and
<br />things of vahle :l1e LH.}UII),'\TED DAMAGES and me the SELLER'S SOLE AND
<br />O!>JLY nEkll~I)Y !()l" tlw BUYER'S failure to perfOlfll the obligatioils of litis contract.
<br />By rHCllfi!l~~ 11th ^;~,! ~"'llI(,lIt, UU}'CI', 01' Assignsl herel))' c::pre:;:;ly grant (0 Seller a
<br />Limited .!'!1l1'tT fir ..\(!unH'y whid, shall include any and fill Il\;wtrs nn.:tS51U)' in
<br />onler 11: :"~l ;t:~jl!r l.::' fenlil lhc Nt WCIJ nlJotlllCllt contntct in'o OIl', i::'WIt': of the
<br />Sdlrr i!l lhc c'/('1l1 Ow( p . ,,"s d~' 'ult occurs after ;,lIot III ('II 1 cou("ild (ramfer,
<br />- ( .NT1NUED-'
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