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particulazly described in Exhibits A and B to the Contract (collectively referred to as the <br />"Walsenburg Property"). A copy of the Contract, as amended, is attached hereto as Exhibit <br />1. <br />7. Pertinent terms of the Contract, include the following: <br />a. A purchase price of 5488,567.25. <br />b. Closing to occur not later than August 10, 1994; <br />c. The Walsenburg Property is being sold by Seller, 'as is" and without <br />warranties of any nature; <br />d. Buyer shall assume and agree to be bound and take the Walsenburg <br />Property subject to all governmental permits and obligations, including <br />mineral land reclamation permits, bonding requirements, environmental <br />permits, and all leases covering the Walsenburg Property; <br />e. Upon consummation of the Contract, Buyer shall waive and release any <br />claims or causes of action it has or may have against Seller; for any <br />environmental contamination on the Walsenburg Property; <br />f. The Contract is subject to Bankruptcy Court approval; <br />g. The Contract provides that the proposed sale of the Walsenburg <br />Property is subject to higher and better offers and in the event higher <br />offers to purchase the Walsenburg Property aze received, CF&I will <br />hold an auction sale prior to the hearing on this Motion; <br />h. If BanlQUptcy Court approval is not obtained by August 1, 1994, Buyer <br />is entitled to terminate the Contract, in which case Buyer shall be <br />entitled to the return of its earnest money; and <br />i. Buyer and Seller agree that no broker is entitled to a broker's <br />commission or fee. <br />3 <br />