Laserfiche WebLink
<br />'. <br /> <br />.. <br /> <br />.. <br /> <br />Ditch company does not currently exist as a <br />legal entity and has not existed as such for <br />at least forty years. <br /> <br />vii. <br /> <br />Any other evidence of Seller's title to The <br />Water Rights or data or reports regarding the <br />historic use of The Water Rights, including <br />all evidence of Seller's right to use the XY & <br />Graham account in John Martin Reservoir. <br /> <br />3. Exercise of OPtion. Buyer may exercise the Option to purchase <br />by giving Seller written notice of its intent to exercise the <br />Option at any time from the execution date hereof until the <br />expiration of the term of the Option. Exercise of the option <br />shall ~llow Buyer to purchase The Land and The Water Rights <br />for $3,007,640.00 on the terms and conditions in the "Purchase <br />Agreement" set forth in Part II of this agreement. If Buyer <br />elects to exercise its Option to purchase The Land and The <br />Water ~ights, closing on both The Land and The Water Rights <br />Shall occur on or before October 15, 1996 (the "Closing <br />Date") . <br /> <br />II. PURCHASE AGREEMENT. <br /> <br />If Buyer elects to exercise its Option to purchase, Buyer agrees to <br />purchase and Seller agrees to convey The Land and The Water Rights <br />described in Exhibits A and B attached hereto according to the <br />following terms and conditions. <br /> <br />1. Purchase Price. <br /> <br />a. The purchase price for The Land and The Water Rights <br />shall be $3,007,640.06 (the "Purchase Price"), and shall <br />be payable as follows: <br /> <br />i. <br /> <br />$500,000 in Earnest Money. The Earnest Money <br />shall be paid into an interest bearing escrow <br />account held by Cruikshank Realty within 10 <br />days of Buyer's written notice of its intent <br />to exercise the option. <br /> <br />ii. <br /> <br />$2,507,460.00 in cash or certified funds at <br />closing. <br />