2004-02-24_REVISION - M1977153 (6)

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necessary to release all outstanding liens on the property, whichever amount is less, (the "Payment"). The Buyer shall take possession of the property upon tender of the payment and shall tender payment on or before the day of November, 2003. 2. The Landowner hereby covenants and warrants that it has lawful right to convey its interest in the Property. It is agreed that the Payment specified in paragraph 1 shall also be full payment to finally settle all claims and disputes between the parties and for acquisition of the Property. Landowner agrees to convey to the Buyerthe Property at a closing, the date for which shall be mutually agreed upon between the parties, but said closing shall occur no laterthan 180 days after deposit of the sum described in paragraph 1, unless the parties agree to extend such time. 3. It is further understood that in the event a closing based upon agreement as to the compensation for the Property is not reached on or before the 180 day period as referenced in paragraph 2, such failed closing will be a confession by the Landowner that the negotiations to acquire the Property have proved futile. At this point, the Buyer may proceed in eminent domain to condemn the Landowner's interest in the Property. The Buyer shall not unreasonably delay the completion of proceedings under the eminent domain law once the time provided for in this paragraph has expired. The parties agree that if there is no settlement of all issues on or before such 180 days and an eminent domain action is filed: (a) the Landowner will not object to the taking of the Property; and (b) the sole issue in such proceeding will be the just compensation owed to the Landowner for the acquisition of its interest in the Property; and (c) the Buyer will pay to the Landowner the just compensation determined by the action in eminent domain for the acquisition of the Propertywithin thirty (30) days of the entry of anon-appealable order. 4. This Agreement shall continue in effect until either a settlement is reached or a Rule and Order as provided for in C.R.S. § 38-1-105(3) is entered by the court. 5. It is agreed by the parties that the valuation date for determining the amount ofjust compensation shall be the date on which payment was tendered to the Landowner pursuant to paragraph 1 above. 6. The parties agree that this document shall be sequestered by the Court and shall not be considered as evidence in any hearing to determine just compensation. 7. Each Landowner individually, and not jointly, covenants and agrees that no fence, building, structure, or other above or below ground obstruction that may interfere with the purposes aforesaid will be placed, erected, installed or permitted upon the Property by or through such Landowner during or following the period of construction. Each Landowner severally, and not jointly, further covenants and agrees that in the event 2