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Seller's Right to Remain on Property After Sale <br />After closing on the sale of the Property, Seller shall have the right to remain in possession of the <br />property except that portion of the property that Seller shall use to cross this property from Purchaser's <br />44`h lane gravel operation to 36`h Lane (Pueblo, CO) for a period no longer than ten (10) calendar years <br />calculated from the date of closing. Purchaser shall delineate that area in which its equipment will <br />travel, and Seller shall remain outside that area at all times, recognizing there is significant risk of harm, <br />including death, if Seller, his family, guests or invitees enter said delineated area. At all times Seller shall <br />save and hold Purchaser, its agents, employees, subcontractors and other guests or invitees using the <br />delineated area with the consent of Purchaser, harmless from all claims of any kind arising from <br />Purchaser's use of the delineated area. In the event Seller abandons the property (defined as absent <br />from property for 30 days or more that is not a planned vacation) Purchaser can declare Seller's tenancy <br />ended, and thereafter, Seller shall have no right to possession of the property for any reason. <br />Seller shall pay no rent for his use of the property, but shall be personally liable and responsible for all <br />costs of residing at the property other than payment of rent for his possession and use of the property, <br />including but not limited to utilities of any kind, including internet and cable service, repairs of <br />improvements not within the delineated area, and normal maintenance and repairs of the single family <br />residence and out buildings used by Seller. It shall be Purchaser's responsibility to insure the property <br />and improvements, and Seller's responsibility to insure the contents and personal property within the <br />residential structure and outbuildings. <br />The Parties agree that a Memorandum of Interest in the Property shall be executed at the time this <br />Agreement is executed, or as soon thereafter as such agreement is prepared by Purchaser, setting forth <br />that Purchaser has acquired an interest in said property, subject to terms and conditions between the <br />parties not made public. Said Memorandum shalt be recorded with the Clerk and Recorder of Pueblo <br />County, evidencing the right of Purchaser to acquire from Seller the Property as set forth herein. Seller <br />shall have no right to sell, transfer, convey or assign his interests in the Property after execution of this <br />Agreement, without the expressed written consent of Purchaser, which Purchaser may withhold without <br />objection in its sole discretion. <br />Form of Funds; Time of Payment; Available Funds <br />All amounts payable by the parties at Closing, including any loan proceeds, cash at Closing and closing <br />costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer <br />funds, certified check, savings and loan teller's check and cashier's check (Good Funds). In the event <br />Serer does treat this sale as a §1031 exchange, all payments shall be to the qualified intermediary as <br />required by IRS code. <br />TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE <br />