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24 <br /> Page: 2 of 5 <br /> 07l0312003 3:65969007P <br /> Boulder County Clerk, CO AG P 0.00 D 0.00 <br /> Parcels by the Colorado Division of Minerals and Geology, for the time period provided for in this <br /> Agreement. <br /> F. County and Seller agree that County shall lease back to Seller the County Parcels, or <br /> a portion thereof, for agricultural purposes at the rate of$1.00 per acre per year until such time as <br /> the gravel mining is completed (the "Lease"). The Lease will substantially be in the form set forth <br /> in Exhibit D. Seller shall have the right to sub-lease the leased portion of the County Parcels, and <br /> any and all income generated from a sub-lease shall be the property of Seller. In connection with the <br /> Lease, Seller shall have the right to use any or all of the outbuildings Iocated on the leased portion <br /> of the County Parcels. <br /> G. In connection with the closing on the County Parcels,County shall process a division <br /> of land allowing Lot A to be recognized as a legal building lot. Subject to a survey showing that <br /> Grantor has lost more than three development rights as a result of County's purchase,County will <br /> also process a division of land for a portion of Lot B, permitting Grantor to retain three less <br /> development rights than it held prior to County's purchase of the Property. <br /> AGREEMENT <br /> NOW,THEREFORE,in consideration of the recitals,promises, payments, covenants and <br /> undertakings hereinafter set forth, and other good and valuable consideration, which is hereby <br /> acknowledged and receipted for,the County and Seller agree as follows: <br /> PURCHASE PROVISIONS <br /> 1. In consideration of the payment of TEN THOUSAND DOLLARS($10,000.00)as Earnest <br /> Money, to be paid within 10 days to the title company that provides the title commitment <br /> referenced in Paragraph 3 of this agreement, Seller hereby agrees to sell and County hereby <br /> agrees to purchase a fee simple interest in the Property subject to mutual agreement as to the <br /> configuration and legal description of Parcel A and Parcel B after performance of the survey <br /> described below, the approximate legal descriptions of Parcel A and Parcel B are provided <br /> in Exhibit B. The approximate locations of the County Parcels are indicated on Exhibit C, <br /> attached hereto and incorporated herein by this reference. Seller shall provide a copy of <br /> engineering and/or survey work of the Property, if available and acceptable to County. If <br /> none is available, or acceptable to County, County shall at its sole expense contract for an <br /> ALTA engineering survey of the Property, sufficient to satisfy the requirements of the title <br /> company to delete the standard pre-printed exceptions from County's title policy, as set <br /> forth in Paragraph 4 below. Said survey shall be certified to County, Seller, and the title <br /> company and shall include a certificate of acreage of the Property. The survey must be <br /> acceptable to County, in County's sole discretion and the configuration and legal <br /> descriptions must be mutually acceptable to Seller and County. County shall deliver a copy <br /> GOLDEN FARM, LLLP PURCHASE AGREEMENT <br /> -2- <br />