Laserfiche WebLink
<br /> <br />the difference plus interest at the rate of six and one-half percent (6.5%) per annum to Thomton <br />within fourteen (14) days after the parties have agreed to the recalculated Water Storage Capacity. <br />7. Allocation Of Purchase Price. Within sixty (60) days of the date of determination <br />of the final Purchase Price, Aggregate shall allocate (the "Allocation's the total Purchase Price <br />between amounts received in exchange for the Reservoir and amounts received in exchange for <br />services pertomted to prepare the Reservoir for sale to Thomton (the "Service Fee's. The <br />Allocation shall be made solely by Aggregate, without any approval necessary from Thomton. <br />a. In determining the amount of the Service Fee, Aggregate shall determine <br />the fair market value of the services rendered to Thomton in preparing the <br />Reservoir. Aggregate shall not take Into account those services which are <br />normally Incident to mining. . . <br />b. In addition, services may be performed in addition to those for which <br />Thomton is obligated to Aggregate under this Agreement to pay for at cost. <br />Such amounts shall also be treated as payment for services not incident to <br />normal mining received by Aggregate. <br />c. Amounts payable under this Agreement pursuant to Paragraph 6, excluding <br />those amounts treated as the Service Fee pursuant to this Paragraph, are <br />intended to be treated as the proceeds from the sale of the Property under <br />the threat or imminence of condemnation, pursuant to Section 1033 of the <br />Internal Revenue Code of 1986 (as amended). <br />Conditions Precedent to Conveyance <br />8. Aoproval of Reservoir. Aggregate covenants that the Property includes the <br />Reservoir and in connection therewith: <br />Aggregate shall, at its expense, have the Property inspected by the SEO, <br />and shall obtain a permit and/or approval letter indicating that the Property <br />meets all the requirements for design and performance set forth in the <br />SEO's Guidelines for thing of Gravel Pits (Aug 1999), a copy of which is <br />attached hereto as Exhibit C. <br />b. Aggregate shall, at Its expense, have the Reservoir surveyed by an <br />independent engineer or surveyor, licensed in the State of Colorado, with <br />such survey to include (i) a topographic survey mapping the Reservoir with <br />an accuracy equivalent to a scale of 1 Inch equals 50 feet with 1 foot <br />interval contours, (ii) horizontal control referenced to the NAD-83-92 <br />North Dahlia <br />Purchase Agreement <br />December 11, 2000 <br />Page 5 of 22 <br />