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<br />. <br /> <br />. <br /> <br />(2) Each of the contingencies set forth in paragraph 6.1 of the Settlement <br />Agreement between Box Springs, the State and HCWUA is satisfied to the satisfaction ofHCWUA. <br /> <br />(3) The funds from the CWCB are available for disbursement as directed by <br /> <br />HCWUA. <br /> <br />B. The following are conditions precedent to the obligation of Box Springs and the <br /> <br />Contracting Shareholders to close under this Agreement, unless waived by them: <br /> <br />(I) All of the representations, covenants and warranties made by HCWUA in this <br /> <br />Agreement are true and correct as of the date of closing. <br /> <br />(2) HCWUA is not in breach or default of any of its obligations under this <br /> <br />Agreement. <br /> <br />9. Remedies. Time is of the essence in connection with this Agreement. In the event of any <br />, <br />alleged breach ofthis Agreement, the party to whom performance is owed shall give notice to the <br />party alleged to be in breach, and that party shall have 20 days after receipt of such notice to effect. <br />a cure of the alleged breach. In the event of an uncured breach, the party to whom the obligation is <br />owed shall have the right to pursue any remedy available in law or in equity, including without <br />limitation the remedy of specific performance. <br /> <br />10. Cooperation bv Box Springs. <br /> <br />A. HCWUA shall submit a plan, substantially in the form of Exhibit E to the <br />Settlement Agreement, to the State Engineer. Box Springs and the Contracting Shareholders <br />shall cooperate and reasonably assist HCWUA in seeking approval of the HCWUA Plan, <br />including any additional terms required by the State. If the State approves the HCWUA <br />Plan, Box Springs and the Contracting Shareholders agree to cooperate in the prosecution <br /> <br />-8- <br />