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<br />. <br /> <br />. <br /> <br />the deed or deeds and assignment shall be released to HCWUA or its assigns. If Final Court <br />Approval is not obtained, the deed or deeds and aSsignment shall be redelivered to the Contracting <br />Shareholders, as provided in the Escrow Agreement. <br /> <br />The Escrow Agent mentioned herein is not the same person or entity as the qualified <br />intermediary under IRC S 1031 to whom funds may be distributed by said Escrow Agent. This <br />Agreement and all transactions hereunder shall be interpreted and conducted so as to avoid starting <br />the running of any time periods under IRC S 1031 until funds are released by the Escrow Agent to <br />the qualified IRC intermediaries. <br /> <br />4. Title. <br /> <br />A. Within 30 days following the exeClltion of this Agreement, Box Springs shall deliver <br />to HCWUA abstracts of title to the HCWUA Box Springs Water Right and such other title <br />documents, including prior title opinions and quiet title decrees pertaining to the HCWUA Box <br />Springs Water Right, as Box Springs or the Contracting Shareholders have in their possession, and <br />a title opinion prepared by Robert F. T. Krassa afte:r the execution of this Agreement, describing the <br />state of title to the HCWUA Box Springs Water Right as of the date of the opinion and <br />demonstrating that the Contracting Shareholders will be able to convey good and marketable title <br />thereto when the escrowed funds are released to the Contracting Shareholders. <br /> <br />B. Box Springs and the Contracting Shareholders jointly and severally represent and <br />warrant for themselves that neither they, nor persons claiming by, through or under them, have done <br />or will have done anything to impair or encumber the title to the HCWUA Box Springs Water Right <br />when the HCWUA Water Right is conveyed out of escrow to HCWUA. The Contracting <br />Shareholders jointly and severally represent and warrant that they will own the entirety of the <br />HCWUA Box Springs Water Right or such portion thereof sufficient to convey at least 46 cubic feet <br />per second, free and clear of all liens or encumbrances, when the HCWUA Box Springs Water Right <br />is conveyed out of escrow to HCWUA. If there are now encumbrances or liens on the HCWUA Box <br /> <br />-4- <br />