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obligation to make any payment required raider this Assigtnnent, such Party will be in default <br />and the other Parties to this Assigtunent shall have the sa3ne rights and remedies against such <br />Party as any other Purchaser who is in default ender this Assigmnent. <br />18. Felton Ditch Water Rights. The right to purchase the Subject Water Rights has <br />been assigned by Bromley to So. Adams and, therefore, such tight and the Subject Water Rights <br />are not a part of the Contract, this Assignment or the Assigned Rights. It is understood that <br />So. Adams may fiirther assign the right to purchase the Subject Water Rights to Commerce City. <br />19. Designation of Excluded Pronertv. Bromley hereby assigns to FRICO the right to <br />designate the Excluded Property, pursuant to paragraph's 1 and 4 of the Third Amenchnent, <br />subject to the rights assigned to Denver under Section 1(b) of this Agreement. If there is a <br />coriflict between the areas designated as the Excluded Property by Denver and FRTCO, the <br />Excluded Property shall include at] of the property designated by both Denver and by FRICO. <br />20. Closing Date. Any of the Patties shall have the right to exercise the right to <br />extend the Closing Date as provided in Section 5 0£ the Third Amendment; provided, however, <br />that, unless othetwise agreed to in writing, the Party requesting the extension shall pay the <br />Extension Fee. <br />21. Refired of Supplemental Deposit. If for any reason there is a return of all or part <br />of the Supplemental Deposit, the Parties agree it shall be retumed to them in accordance with <br />their respective Proportionate Shares, and if there is a return of the Deposit (i,e., the $75,000 <br />Deposit made by Bromley), it shall be returned to Bromley. <br />22. General Provisions. <br />(a} Defined Tetras, 'All capitalized terms used in this Assignment that are not <br />defined herein shall have the meanings assigned to them in the Contract. <br />(b) Prouty Docmnenta. The term "Properv Docmnents," as used in this <br />Assignment, means the documents and other items to be assigned by Sellers to Purchasers <br />putsuant to paragraph 8(c)(iv) of rho Contract. - <br />(c) Time of the Essence. Time is of the essence under this Assigmnent. <br />(d) Governing Law. This Assigmnent shall be governed by and consuued in <br />accordance with the laws of the State of Colorado. <br />(e) Severabllity. If any of the provisions of this Assignment shall be held to be <br />invalid or unenforceable to any extent, the remainder of this Assignment shall continue in <br />fttll force and•effeet. <br />(~ Entire Agreement. This Assigr3ment contains the entire agreement between <br />the Parties wit12 respect to the subject manor hereof azrd supersedes and terminates all prior <br />negotiations, understandings and agreements in regard thereto, whether written or oral. <br />(00306188/T) - g - <br />