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2. The County, if necessary, shall be authorized to take and use dirt from. the Bucholz <br /> property for purposes of reclamation and reducing the size of the gravel pit. The <br /> reclamation work will occur utilizing the most cost effective measures possible and with <br /> the ML t M preserving open water surface area on the vJeSt end of Mile pond. <br /> 3. The County grants Bucholz first right of refusal for the purchase of the gravel pit at no <br /> cost to Bucholz other than the expense to transfer the deed and associated filing fees. <br /> The cost of the property to Bucholz is offset by the expenses and labor incurred by <br /> Bucholz while providing reclamation and maintenance of the site. Bucholz agree to <br /> build a fence suitable for livestock pasture along the North and East sides of the <br /> property. <br /> 4. The County will provide Bucholz with a copy of the document received from the <br /> Colorado Division of Reclamation Mining and Safety indicating that reclamation of the <br /> site has been satisfactorily completed. The county will also provide Bucholz a copy of <br /> the augmentation plan as approved by the Colorado Division of Water Resources if such <br /> plan is required. If transferrable, the plan will be transferred to Bucholz if Bucholz <br /> exercises the First Right of Refusal. <br /> 5. If the Bucholz exercise the first right of refusal on the purchase of the real property, and <br /> should augmentation be necessary, the Bucholz agree to purchase the water shares <br /> necessary to meet augmentation requirements. <br /> 6. The County agrees to make available an adequate number of Lower Arkansas Water <br /> Management Association (LAWMA) preferred water shares necessary for <br /> augmentation.. As consideration for services provided and to be provided by Bucholz, <br /> the first LAWMA share necessary for augmentation will be available to Bucholz at the <br /> reduced cost of$1,500 per share. Any additional shares required for augmentation will <br /> be available to Bucholz for$8,000 per share. <br /> 7. The Parties agree that it is in both Parties' best interest to reduce the size of the gravel pit <br /> to the point that no augmentation is required utilizing dirt from the site. The Parties <br /> agree to further this interest through the agreements made herein. <br /> S. The term of this Agreement shall be for the time necessary to complete reclamation of <br /> the site and adequately reduce the size of the gravel pit. <br /> 9. The first right of refusal shall not expire unless the Bucholz refuse to exercise said right <br /> of refusal under these mutually agreeable terms. <br /> 10. The County shall provide a certificate of insurance including Bucholz as named insureds <br /> for reclamation. <br /> 11. This contract shall be binding and shall inure to the benefit of the heirs, devisees, <br /> personal representatives, successors in interest, and assigns of the County and <br /> Bucholz. <br /> 2 <br />