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applicable permitting authority and Seller agrees to join in the amended applications so long as <br />they aze generally consistent with the applications made under the Prior Lease. Purchaser shall <br />pay all costs associated with obtaining the Required Permits. Seller will support Purchaser's <br />efforts to obtain the Required Permits in all respects and will appear at any hearing on the <br />Required Permits or any other permits or authorizations if Purchaser so requests. <br />The purchase and sale of the Subject Property shall be closed within sixty (60) days after <br />Permit Approval. <br />If any Required Permit is denied (or is granted only on conditions that in Purchaser's sole <br />good faith determination are unacceptable for its operations), Purchaser may terminate this <br />Agreement by notice to Seller. Upon such termination, neither party shall have any further <br />obligation to the other, except that Purchaser shall supply Seller with an appropriate release if so <br />requested. <br />5.2 Litigation Contingency. The Subject Property is presently the subject of a decree <br />captioned "Findings of Fact, Conclusions of Law and Order" entered February 26, 2002, nunc <br />pro tunc, December 14, 2001, in Halsnes v. More Family Ranches. LLC, Case No. O1CV32, <br />Routt County District Court (the "District Court Order'. Both parties to the action have £led <br />notices of appeal, docketed as Case No. 02 CA733 at the Colorado Court of Appeals (the <br />"Appeal"). The District Court Order and the Appeal aze collectively referred to as "the <br />Litigation." The Litigation constitutes a cloud on Seller's title and on Purchaser's rights under <br />this Agreement. Accordingly, the obligation of Purchaser and Seller to proceed to Closing is <br />also expressly conditioned upon the following: <br />FiECEIVEp <br />APR 17 2003 <br />Division of Minerals and Geology <br />(b) Seller and Halsnes entering into a settlement agreement that will contain a[ <br />least the following terms: <br />(A) Dismissal with prejudice of the Appeal; <br />(B) Vacation of the District Court Order; and <br />- 7- <br />~,~ <br />