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<br /> 487 which Buyer has actual knowledge.
<br /> 488 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL
<br /> 499 OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON
<br /> 491 THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE
<br /> 492 PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT
<br /> 4493
<br /> 94 WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE
<br /> 495 SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE
<br /> J 496 THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY
<br /> 497 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY AND BY
<br /> 498 OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY
<br /> 500 CLERK AND RECORDER, OR THE COUNTY ASSESSOR.
<br /> 501 A tax certificate from the respective county treasurer listing any special taxing districts that effect the
<br /> 502 Property(Tax Certificate) must be delivered to Buyer on or before Record Title Deadline. If the Property is located
<br /> 503 within a special taxing district and such inclusion is unsatisfactory to Buyer, in Buyer's sole subjective discretion,
<br /> 504 may object,Bu er on or before Record Title Objection Deadline. If the Tax Certificate shows that the Property 505 Y YJ P Y is
<br /> 506 included in a special taxing district and is received by Buyer after the Record Title Deadline, Buyer has until the
<br /> 7 earlier of Closing or ten days after receipt by Buyer to review and object to the Property's inclusion in a special
<br /> 508
<br /> taxing district as unsatisfactory to Buyer.
<br /> 10
<br /> 509
<br /> 8.5. Right to Object to Title, Resolution. Buyer's right to object, in Buyer's sole subjective discretion, to
<br /> 511 any title matters includes those matters set forth in §8.2 (Record Title), §8.3(Off-Record Title), § 8.4 (Special
<br /> 512 Taxing District)and § 13 (Transfer of Title). If Buyer objects to any title matter, on or before the applicable deadline,
<br /> 513 Buyer has the following options:
<br /> 514 8.5.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to an title
<br /> 515 j � Y 1 9 Y
<br /> 516 matter(Notice of Title Objection)on or before the applicable deadline and if Buyer and Seller have not agreed to a
<br /> 517 written settlement thereof on or before Title Resolution Deadline, this Contract will terminate on the expiration of
<br /> 518 Title Resolution Deadline, unless Seller receives Buyer's written withdrawal of Buyer's Notice of Title Objection
<br /> 519
<br /> e., Buyer's written notice to waive objection to such items and waives the Right to Terminate for that reason
<br /> 520 (i• Y j 9 ), on
<br /> 521 or before expiration of Title Resolution Deadline. If either the Record Title Deadline or the Off-Record Title
<br /> 522 Deadline, or both, are extended pursuant to §8.2 (Record Title), §8.3 (Off-Record Title)or§8.4 (Special Taxing
<br /> 523 Districts), the Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days
<br /> 524
<br /> 525 after Buyer's receipt of the applicable documents; or
<br /> P Pp
<br /> 526 8.5.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under§
<br /> 527 25.1, on or before the applicable deadline, based on any title matter unsatisfactory to Buyer, in Buyer's sole
<br /> 528 subjective discretion.
<br /> 529 8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property or a
<br /> 530 g pp g P Y
<br /> 531 right to approve this Contract, Seller must promptly submit this Contract according to the terms and conditions of
<br /> 532 such right. If the holder of the right of first refusal exercises such right or the holder of a right to approve
<br /> 533 disapproves this Contract, this Contract will terminate. If the right of first refusal is waived explicitly or expires, or
<br /> 534 the Contract is approved, this Contract will remain in full force and effect. Seller must promptly notify Buyer in
<br /> 535 PP P P Y fY Y
<br /> 536 writing of the foregoing. If expiration or waiver of the right of first refusal or approval of this Contract has not
<br /> 537 occurred on or before Right of First Refusal Deadline, this Contract will then terminate.
<br /> 538 8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should
<br /> 539
<br /> 40 be reviewed careful) Additional) other matters not reflected in the Title Documents may affect the title
<br /> 540 Y• Y� Y
<br /> 541 ownership and use of the Property, including,without limitation, boundary lines and encroachments, set-back
<br /> 542 requirements, area, zoning, building code violations, unrecorded easements and claims of easements, leases and
<br /> 543 other unrecorded agreements, water on or under the Property, and various laws and governmental regulations
<br /> 544 concerningland use, development and environmental matters.
<br /> 545 P
<br /> 546 8.7.1. OIL, GAS,WATER AND MINERAL DISCLOSURE.THE SURFACE ESTATE OF THE
<br /> 547 PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE AND TRANSFER
<br /> 548 OF THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR
<br /> 550 WATER RIGHTS.THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS,
<br /> 551 GEOTHERMAL ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY,WHICH
<br /> 552 INTERESTS MAY GIVE THEM RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO
<br /> 5553 54 ACCESS THE MINERAL ESTATE, OIL, GAS OR WATER.
<br /> 5558.7.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY
<br /> 556 TO ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT,A
<br /> 557 MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND
<br /> -558
<br /> 559 RECORDER.
<br /> 560 8.7.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR
<br /> 561 ADJACENT TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING,WELL
<br /> 562 COMPLETION OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING
<br /> 5563
<br /> 64 WELLS, REWORKING OF CURRENT WELLS,AND GAS GATHERING AND PROCESSING FACILITIES.
<br /> 565 8.7.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL
<br /> 1 566 INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING
<br /> 567 DRILLING PERMIT APPLICATIONS.THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL
<br />
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