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Oa:-11-02 Kg7p fra-PIIILL fOtint f0 JOtt110111 Ti01 f.ll/tl f~116 Cettiflcate of DeposR by the Sepet's Agent whiilt shell mature prior to dosing in a federal or state chartered bank or savings and loan instltutlon. The accrued Interest on said earnest money deposit shag be the sob and exdusNe Property of fha Buyer, Provided, however, (in edditlon to the rerrredlea set forth In Section 20 m the event this oontreil falls to dose as a rosuk of an ad of the Buyer, all accrued interest shall become the sole and exdushre property of the Seller. m.) "As Is" Condition. Buyer is acquiring the Property in an 'as is" oondplon and is relying upon the rosults of Buyer's own Investigation concerning the physical condltlon of the Property pursuant m Secion 10. Seller makes no representalions either express or impped concerning ttta physical condition of the Property. Buyer admowledges that the Seger and Phlll Foster and Company have advised the Buyer to undertake an inspection of the Property relative to the mallets set forth in this paregreph. n.) Llke-kind F~rchange. Seger shall have the tight, at Seller's op4on, to dispose of the Property through a trensacfion that is stntctured to qualify as a Ilke-kind exchange of property wphin the meaning of Sedlon 1031 of the Internal Revenue Code of 198fi. Buyer agrees to oooperete with Seler In effeWng a quafify~n' g L7ce- kind exdret~e through a trust, escrow or other means as determined by Seller. Seller shag bear the additlonal transaction costs and all reasanabb costs and expenses Mcumed by Buyer attrp~utabb to the dosing of a qualffying exchange requested. by Seller In no event shall any pke-kind exchange contemplated by this provisbn cause an extension of the date of dosing set forth herein nor shall Buyer be required to take title to any real property other than the Property. o.) Fax Transmittals. The Buyer and Seller agree that a facsimile transmiltaf of this contrail shall be considered as an originapy excelled document and shall be binding upon the parties hereto. The Buyer and Seger further agree that the exact, originally executed contrail which was transmitted by facsimile shag be delivered to the appropriate party via U.S. mail, messenger, or other acceptable delivery service within seven (~ calendar days from the date of said facsimile transmittal. p.) Calendar Daya/Buatness Days. As used in this contrail, the term 'calendar days' shall be deemed to mean each and every day of the calendar year. The term 'business days' shag be deemed M mean each and every day of the calendar year, exduding Saturdays, Sundays, And Federel or Sato holidays, In the event arty date raped for herein falls on a Saturday, Sunday of Federal or sate ttopday, said date shall ire extended to the next busiress day following such Saturday, Sunday or Federal or State hdfday. q.) MEC. As used in this contrail, Ute term'MEC' shall be defined as mutual execution of this oontrecL r.) tt is understood and agreed by lxnh parties to this fransadion'that ~et"~r G. Gunderson of Phil) Foster and an >s actin as a Trensactioq Broker. a.) a r g Ap rigtrts tb Irtlgatlon well boated n Ef4, n 13 T2N. R67W of the 6°1 P.M. Inducting pump, casing and any appurtenant parts and equipment as well as 101 shares of the Lupton Meadows Ditch Company. t.) During due dpigence (paregreph e) and permits and approval period (paragraph ), Buyer has the authority from seller to negotiate the locatlon of any planned oil and gas wells on the subject property. The buyer fupy Indemnifies the seper against costs for the planned bcations and agrees to pay all costs for any negotiated relocation of said op and gas welts. u.) Buyer agrees to pay ttte farts tenant at the rate oft~per acre for any damage done to txops during the 80 day due diligence period.