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~JUL-01-2003 09 37 DUNCRN.OSTRRNDER&DINGESS 303 779 3662 P.09i16 <br />1 <br />The Petitioner City of Golden ("Peddond') and the Respondent P.mrick & Hill, Inc., <br />("Respondent"), by and through their counsel of record, hereby sdpulaw and agree to the <br />Petitioner's immediate possession of the property described in the Pedflon in Condemnation upon <br />the following tams and conditions. <br />A. onditions Rrecedent. The patties stipulate that the property described in the <br />Petition !n Condemnafion ("the Propert)~') is necessary for the project described in the Petition In <br />Condeautatian {'4ha Project"), that Peddontx represents there has been a failure of good faith <br />negodadons betwcert the Petitioner and the Respondent-Landowners witlr regard to the just <br />cotnpcuadon sought to be paid for the Property and the arms of the acquisition, that any <br />disturbance of the possessory rights of the Respondents is necessary, that thece is an immediate need <br />for possession of tare Property by the Petitioner, and that the taking by the Petitioner is far a public <br />use and in the public interest. <br />B. Order ~i air ,p'ne Itntnediate Possession. "ttta parties agree that the Petitioner shall be <br />eadtled to an Order trandng Immediate Possession that approves and incorporates the terms and <br />conditions of dtis Stipulation. Upon the entry of the Order Granting Immediate Possession, and <br />payment of any Deposit amount required pursuant to said Order, the Petitioner shall have the <br />undisputed right to possession of the Property. <br />C. Settlement. The parties have entered into a Settlement Agreement dated <br />attached hereto as F.sblbit A and incorporated herein by reference. The <br />5etclement Agreement inter aria acknowledges that the Respondent holds a leasehold interest in <br />a portion of the Ptopeny by Rxplosive bistribution Facilities Site and Magtt2irie Lease <br />Agreement dated September 9, 2001 with Respondent-Landowners Sally Buckland and Glenda <br />Guanela, as Lessors ("Eauick Lease"), and that said leasehold interest is subject to a pre-existing <br />leasehold interest held by the Petitioner. <br />D. Wider of Premises. Putsusat to the Settlement Agreement Respondent will <br />promptly and diligently remove from the P:vperry all of Respondent's existiag materiels, supplies <br />trailers and other personal property and equipment by the end of the day on May 31, 2003. The <br />Settlement Agteeatent recognizes that Respondent may continue its business operations on the <br />Property while it is in the process of moving its operations o~ site. Respondent shall not use m <br />occupy the Property after Juno 1, 2003 or intetftne in any wry with the Petitioner's reservoir <br />tonsiruction activldes. <br />E. Payment to Respondent. Contingent upon Respondent°s complete and timely <br />performance of Its obligation under rho terms of the Settlement Agreement Petitioner will pay to <br />Respondent on or before June 3, 2003 the sum );65,000.00 ("tbe Payment"); provided. bowcver, <br />that the Payment shall be due by June 3, 2003, even if the environmental audit or any necessary <br />cleanup or remediation referenced in the Settlement Agreement has not been completed by that <br />due. Said amount shall be reduced, but not below 560,000.00, by any payments obtained by <br />Respondent from the Respondent-landowners as Lessors under the F.mrick Lease as a part of any <br />settlement between Respondent and such Lessors. Yf such payment(s) are received by Respondent <br />