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<br />Seller's actual knowledge as of the date thereof. To the best <br />of Seller's current, actual knowledge, Seller is not aware of <br />any material defect or condition affecting the use, <br />development or value of the Property including the presence <br />of any hazardous wastes, toxic or other contamination. To <br />the best of Seller's current actual knowledge, the Property is <br />not used and, has not been used in the past as a waste <br />disposal or landfill facility. <br />(d) Litigation. To the best of Seller's current actual knowledge, <br />there is no dispute, action or litigation pending or threatened <br />respecting the ownership or use of the Property or other <br />interests, with the sole exception being Buyer's pending <br />condemnation action. <br />(e) Contracts, Leases and Agreements. Unless accepted by <br />Buyer in writing, as of the closing, Seller will not enter into any <br />contracts, leases, licenses, commitments, or undertakings <br />respecting the use or maintenance of the Property, or the <br />performance of services on the Property by which Buyer <br />would become obligated or liable to any third party. Seller <br />has the right to enter into contracts or leases for the extraction <br />of sand, gravel, or other minerals until December 31, 2006, <br />provided all such contracts or leases terminate no later than <br />that date. Seller has the right to take actions necessary to <br />maintain its dewatering permit with Adams County until <br />December 31, 2006, provided such actions do not encumber <br />the Property or the Buyer's use of the Property for water <br />storage. <br />(f) Status. Seller is a for profit corporation duly organized and <br />validly existing under the laws of the State of Colorado, and <br />Seller has all requisite legal power and authority to own and <br />convey the Property and other interests and perform pursuant <br />to the terms of this agreement. <br />(g) Compliance with Law. To the best of Seller's current actual <br />knowledge, Seller has complied in all material respects with <br />all laws, rules, regulations, ordinances, orders, judgments and <br />decrees applicable to the Property, and Seller has no current <br />~~ <br />