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<br />." ~ - - <br /> <br />I. <br /> <br />'. <br /> <br />c <br /> <br />AGREEMENT <br /> <br />-L~ <br />THIS AGREEMENT is made this ~day of November, 1998 by and <br />between Gle~Wardle and Virginia Wardle (hereinafter referred to <br />as "Seller"), and Town of Georgetown (hereinafter referred to as <br />t I Purchaser" . <br /> <br />WIT N E SSE T H <br /> <br />WHEREAS, Seller is the owner of the following water stock: <br />The Farmers' High Line Canal and Reservoir Company, represented by <br />'#S~1'fcertificate :rS8S7 in the amount of .50 share and Certificate #5412 <br />' ~J in the amount of 1.00 share of the capital stock of The Farmers' <br />-1'e.uJ High Line Canal and Reservoir Company, a Colorado mutual ditch <br />~~~ corporation, together with all rights, ditch rights, easements and <br />,cur Je- other appurtenances; and <br /> <br />(7' WHEREAS, Seller desires to sell and convey to Purchaser and <br />Purr-haser desires to purchase from Seller One and One-half shares <br />of The Farmers' High Line Canal and Reservoir Company, hereinafter <br />referred to as the "water". <br /> <br />NOW THEREFORE, in consideration of the mutual promises <br />hereinafter contained, the parties hereto agree as follows: <br /> <br />1. Seller agrees to sell and Purchaser agrees to purchase the <br />water subject to the conditions hereinafter set forth. <br /> <br />2. The purchase price shall be One Hundred Seventy Four <br />Thousand Four Hundred Dollars ($174,400.00) per share for the <br />total purchase price of Two Hundred Sixty One Thousand Six Hundred <br />Dollars ($261,600.00) payable as follows: <br /> <br />$26,160.00 to be deposited and held by Jacobucci Water <br />Brokers, Inc. in its escrow account as earnest money and as <br />part payment for the water. <br /> <br />The remaining balance of $235,440.00 shall be payable in cash <br />or certified funds upon closing. <br /> <br />3. Title to the water shall be merchantable in the Seller and <br />Seller shall be able to provide Purchaser with merchantable title, <br />at the time of closing. Seller shall provide a copy of the stock <br />certificates to Purchaser or Purchaser's agent upon acceptance of <br />this contract. Seller shall execute and deliver an assignment of <br />water stock and/or deed or other appropriate instrument conveying <br />free and clear title to Purchaser at the closing hereof. <br />