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<br />" ~ <br /> <br />,..~ " <br /> <br />. <br /> <br />Bank is willing to subordinate its mortgage to the State's lien on <br />the terms set forth herein. <br /> <br />5. There is an existing Agreement between the Wamsley Cat tle <br />Company, Inc., dated June 20, 1969, and the Coyte Ranch and <br />Livestock Company, and the rights and duties of the parties are <br />subject to the obligations of this Agreement, which includes <br />certain rights which were granted to Wamsley and obligations which <br />were created, <br /> <br />6. The property to be described in the Deed of Trust in <br />favor of the State of Colorado is real property in the County of <br />Jackson and State of Colorado and is described as follows: <br /> <br />SW1/4 of SE1/4 of Section 5 <br />SE1/4 of SE1/4 of Section 5 <br />NE1/4 of NEI/4of Section 8 <br />NWl/4 of NW1/4 of Section 9 <br />W1/4(?) of SW1/4 of SW1/4 of Section 4 <br />NE1/4 of NWl/4 of NE1/4 of Section 8 <br />Township 6 North, Range 81 West of the 6th P.M. <br />County of Jackson, State of Colorado <br /> <br />Consisting of 180 acres, more or less; together with the <br />reservoir storage rights, improvements to be made, and all ease. <br />ments and other rights pertaining to it. <br /> <br />7. The Colorado Water Conservation Board agrees that Farm <br />Credi t Bank shall have all the rights presently or hereafter <br />granted to a subsequent lienholder in Colorado to cure or redeem <br />the property should there be a default by Wamsley. The Colorado <br />Water Conservation Board will give Farm Credit Bank not less than <br />thirty (30) days' written notice before it commences any foreclo' <br />sure if there is a default by Wamsley on the obligations to the <br />State of Colorado. The Farm Credit Bank shall have the right at <br />any time before foreclosure is completed by the issuance of a <br />Public Trustee's Deed to cure any default and to continue the <br />annual payments due to the Colorado Water Conservation Board, <br /> <br />8. Nothing herein shall be considered a subordination of any <br />of the rights of the Farm Credit Bank except to the extent of the <br />$45,000 amount approved by the Colorado Water Conservation Board <br />for rehabilitation of the reservoir, <br /> <br />9, Farm Credit Bank in order for Wamsley to be able to go <br />forward with its rehabilitation of the Pole Mountain Reservoir and <br />in consideration of the promises in this Agreement does subordinate <br /> <br />. '2' <br /> <br />EXHIBIT B-2 <br />