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01/27/2014 14:49 FAX 9703784823 Loloff Const Inc <br />IM0004/0009 <br />free.to accept such offer and'to.cornplete the sale. up9n the terms <br />contained in the Offer Notice; provided, however, that if said Offer <br />Shares and. /or property are not sold.to the proposed purchaser in <br />accordance with the terms of the Offer, Notice, then Grantee's rights <br />to acquire said Offer Shares and /or property shall be automatically <br />reinstated without necessity- of any ' further action. If a. Grantee <br />Termination has been-execute?d and delivered by Grantee' pursuant to <br />17 below, then such Grantee Termination shall be.null and void and <br />Grantee shall be entitled to record evidence of tho same. <br />b. If, within such time, .Grantee- does deliver to Grantor Grantee's <br />Acceptance_ Notice, then the parties shall proceed to negotiate a . <br />definitive purchase agreement for -the Offered Shares and /or <br />property in accordance with such terms and conditions; provided,- <br />however, that if Grantee thereafter fails to so purchase the applicable <br />Offered Shares and /or -property for any reason other.than a default <br />by Grantor hereunder or under the definitive purchase agreement for <br />such Offered Shares and /or property, then , Grantee's rights <br />hereunder shall be- deemed immediately and irrevocably terminated <br />and of no further force or effect, and Grantor shall have the right to <br />maintain an action against Grantee fore specific: performance,. <br />damages, or both. <br />7. Recording. This First Right shall be recorded in the real property records of <br />Weld County, Colorado and'may be.released or terminated in whole or in <br />part only upon the recordation by Grantee of a Quit Claim Deed of the <br />Subject Shares and /or property and First • Right or by the recordation by <br />Grantor of an affidavit referring to -the Subject Shares and /or property, <br />referring to this First. Right and certifying Grantee's rights hereunder have <br />been terminated or the term hereof has expired in accordance with the terms <br />and provisions set forth herein (each a "Grantee Termination'l, <br />8. Governing Law. This First Right shall be governed by and construed in <br />accordance with the laws of the State of Colorado, without regard to its <br />provisions regarding conflicts of laws. Venue for any dispute shall be in <br />Weld County, Colorado. <br />9. - 'Notices- All- notices, requests, demands, -or * other communications <br />(collectively, "Notices ") hereunder shall be in writing and given by (i) <br />