C153771 Contract - Laserfiche WebLink

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. . Springs Water Right, then as a condition to the disbursement of funds, the Contracting Shareholders whose rights are encumbered shall obtain a release of such lien or encumbrance to the satisfaction of HCWUA before funds are released to such Contracting Shareholder. C. Title to the HCWUA Box Springs Water Right shall be acceptable to HCWUA, i.e. HCWUA shall be reasonably of the view that the Contracting Shareholders have or prior to the release of escrowed funds will have good and marketable title. If title to the Water Right as shown by the documents described in paragraph 4A hereof is not acceptable to HCWUA, subject to the releases contemplated by paragraph4B, HCWUA shall give notice thereof to Box Springs within 60 days prior to closing. Box Springs then shall have 30 days to cure the noticed title defects to HCWUA's satisfaction, and the closing date shall be extended by 30 days. If RCWUA is not satisfied, it may teI1i1inate this Agreement, in whi~h event all parties shall be released from all further obligations and liabilities under this Agreem~nt. Failure by HCWUA to give notice oftitle defects and/or proceeding to closing shall not cOhstitute a waiver of warranties of title by the Contracting Shareholders. I 5. Release and Waiver by Box Springs. A. In partial exchange for the consideration provided by HCWUA under this Agreement, the Contracting Shareholders and Box Springs, for themselves and for their shareholders, directors, officers, successors and assigns, heirs, personal representatives, executors and agents, hereby release HCWUA, HCWUA's shareholders, directors, officers, members (whether past, current or future members), successors and assigns, heirs, personal representatives, executors and agents, from any and all claims, demands, obligations, liabilities, actions, causes of action, or damages of whatever kind or nature, whether based on water law, statutory law, common law, equity or any other basis, which Box Springs or the Contracting Shareholders now have, or may claim at any time in the future to have, based in whole or in part upon any act or omission at any time up to the date hereof, without regard to present actual knowledge of such acts or omissions. -5-