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2465969 <br /> Page. 3 of 53 <br /> 07l03l2003 0307P <br /> Boulder County Clerk, CO AG R 0.00 D 0.00 <br /> of the survey to Seller as soon as practical and the parties shall have 10 days after Seller's <br /> receipt to agree or disagree as to the acceptability of the configuration and legal descriptions. <br /> DIVISION OF LAND <br /> 2. (a) The Seller shall retain fee simple interest in Lot A and Lot B. The general locations <br /> and configurations of Lot A and Lot B are shown on Exhibit C. Lot A contains <br /> approximately 17 acres. The exact legal descriptions for the Lots shall be as agreed <br /> upon by the Seller and the County after the survey is completed and the legal <br /> description of the Lots shall be attached as Exhijall and f. By execution of this <br /> Agreement, but subject to the contingencies of this Paragraph, the Board of County <br /> Commissioners has approved the division and creation of Lot A as a legal building lot <br /> with Lot A to retain its current zoning of Industrial. If the contingencies of this <br /> Paragraph are satisfied,the Lot A shall be a legal building Iot with one corresponding <br /> development right. Any future development,remodel or expansion of any structures <br /> on the created Lot A will be subject to site plan review and any other applicable <br /> County land use regulations. <br /> (b) At the closing of the purchase of the County Parcels, Seller shall record 2 properly <br /> executed and acknowledgeddeeds conveying the Lots,using the legal descriptions set <br /> forth in Exhibits E andl,to Seller. <br /> (c) Approval of the creation of Lot A will become effective only upon the following: <br /> (i) the recording in the Boulder County Clerk and Recorder's Office of the deed <br /> conveying Lot A from Seller to Seller using the legal descriptions as set forth <br /> in Exhibit E; and, <br /> (ii) the recording in the Boulder County Clerk and Recorder's Office of the deed <br /> conveying the County Parcels from Seller to the County; and, <br /> (iv) the receipt by the County of stock certificates indicating the County's <br /> ownership of the Water Rights. <br /> (d) If,after the survey described in Paragraph 1,it is apparent that Seller will lose greater <br /> than three (3) development rights as a result of its sale of the Property to County, <br /> County will process a division of land for a portion of Lot B that is less than 35 <br /> acres,with a legal description to be defined by the Parties after receipt of the survey, <br /> creating a legal building lot with one development right. In the event that it is <br /> necessary for County to create a legal building lot from a portion of Lot B, creation <br /> of that lot will be contingent upon the recording in the Boulder County Clerk and <br /> Recorder's Office of the deed conveying the agreed upon legal description from Seller <br /> to Seller using the legal descriptions as set forth in Exhibit E. <br /> If the deeds and/or documents described above are not recorded and/or received by <br /> GOLDEN FARM, LLLP PURCHASE AGREEMENT <br /> -3- <br />