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.w hP$011f"CF_~~7~lll[1F!i'Jr~ F,i; :'.II'.-i ~I-~r ~~~ MC!-' _r' ''1: ]O:'~ F'. t~] <br />intentmilll.wpsDraft LettenTntent 3;27,`98 kl <br />~ 1.rTT .R or rNrEa1 <br />~A _ . <br />~~ ~ <br />MARC.'H _. 1998 _~ <br />(1) P~rti s This Letter of Intent constitutts a binding agreement Between Denver East A'iachinery <br />Company ("DEMC", the "Seller") with an address of 15507 East 18th Ave., Aurora. <br />Colorado, 8001 ! :and <br />ITEC Environmental Colorado Inc. ("ITEC", the "Buyer") with an address of <br />707 17th Street, Dem~er, Colorado, 80202-3404. <br />(2) Sy17je .t at .r. The purpose of this T,etter nt'intent is to set forth the binding terms agreed- <br />upon for the gale by DEMC, and the purchase By ITEC, of that certain facility <br />known as and referred to as the "Gold Hill Mill", located in Section 12, Township <br />1 North. Range 72 West, 6th P. 1~4., Boulder County. Colorado. <br />Said Crold Hill Mill and the operations permitted thereat are otherwise subject to <br />that certain permit-•-M-94-117---issued by the State of Colorado, Mined Land <br />Reclamation Board, Department of Natural Resources. <br />In any and all references made in this Letter of Intent to said "Gold Hill Mill". the <br />following are encompassed and meant by way of de$ttition: <br />(a) The existing mill structure and all equipment and machinery in or <br />connected the said mill stntcttve in any fashion: <br />(h) The patented miffing claims named the Oscar(No. 17992), and <br />the Good Enough (No. 15838) as said fee properties are mare <br />fully described in Exhibit A to that certain Milling Contract between <br />Colina C)m Molina; Inc., and Mi Vida Enterprises, Inc. dated <br />Febntar}' 13, 1991(the "Milling Contract"): <br />(c) All those certain water shares (20) in the Left Hand Ditch Water Company <br />currently in the physical possession of DEMC', but adjudicated to use at <br />the Gold Hill Mill, and issued in the names of Susie Quick 8t Mark A. Steen; <br />(d) M1.RD/DNR Permit No. M-94-117. The present bond, in the approximate <br />amaunt of $46.()00+ is NOT a part of the contemplated transaction; <br />(e) All tights to use of contiguous lands, and associated duties, granted to the <br />owner/aperauir of the. Gold Hill Mill under, By, and through the <br />Milling Contract; <br />(f) All interest or right of COM. INC. and-'or Curti, Bernhardt and/or Island <br />Investment Corp. in and to any partnership interest in a partnership <br />known as Gold Ilill Ventures (COM, INC., Gwen Fraser. et al): and <br />(g) Any and aU outer matters or items of real or personal property necessary for <br />ITEC' to receive and enjoy peacetui possession ofthe Gold Hill Mill free of <br />any claims or disputes whatsoever. except as tnay be specifically <br />provided for vt this Letter of Intent. <br />