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Feb 2¢ 04 09:23p 303273°620 ,,...,~.....___ <br />FROM Mi chdel 1. Blake. P. C. PHp~E Pq. 3037907219 Feb. 26 2004 08=25Rtt Pl <br />A_l'RFEMENT FOR <br />PLUt^~'IN ~ A_ G ND AgANDOIHMENT OF <br />S21~l1Ltn r` AS WFLL <br />TffiS AGREEM'F.NT FOR PLUGGING AND ABANDONMENT' OF OIL AND GAS <br />WELL is trade this ~ day of February, 2004, by end between Texas Tea of Co]orado, LLC, a <br />Colorado Sitztited liability company whose address is 601 16th Svcct PMBC-344, Golden, Colorado <br />80401 (htacinafler "Texas Tea"}, and FARFRUMwlIRK1N, LLLP, a Colorado Limited Liability <br />Limited Partrtersl»p whose address is 11811 Upham Street, #l2, Broottrfreld, Colorado 80020 <br />(hereinafter "Owner"). <br />RECITALS <br />WHEREAS,'1'exas Tee is the owl of that certain oil and gas well known a5 the Nelson <br />#2 Welt tpereinaRer the "Wdl'~ situate in the NW 1/4/SW 1J4, Section 32, Township 2 North, Range <br />68 West, Coutrty of Weld, Stall: of Colorado (hatiaaRer the "Land") and is the Lessee of the oil and <br />gas lease pertaining therein (Itereinaller the "Lease', all as mote fully described in Etdtlbit "A", <br />attached harem end made a pert IteteoE and <br />WHEREAS, <>waer is the surface owner of a portion of the Land and desires m develop its <br />portion of said Land; :tnd <br />WHEREAS, (honer desires m have 7ezas Tea permanently rake dte Well out of production <br />• and m plug the Well in order to further develop said Land, and Texas Tea agrees m take the Well <br />out of production and m plug the Well; <br />NOW T'AERF,FORIi, in consideration of the foregoing ptetniscs and the mutual covcnauts <br />and agrevoents hereto stated and other good a~ valuable consideratiom, the suf5ciency of wlticlt <br />is hereby aclmowledged, the parties hereto agttx as follows: <br />1. Pgyrrtemt of Consideration Owner shall pay m Texas Tea the Stan of Forty Thousand <br />sad 00/100 Dollars (540,000.00) in cash, check or certi5ed funds contemporaneously with the <br />execution of this Agreement, as coasitkrapion for the agre®lents of Texas Tea hereunder. Said <br />funds shall be considered earned monies of Texas Tea upon payment and noctrefiuldable. <br />2. PdrA of the u/p~ Upon sixty (60) days written notice from FARFR1JMwURKJN <br />LLLP ra{uesting the same, Texas Tea agrees to pertnaaentiy phtg and ahettdaa the Well trtaler Texas <br />Tea's bonds tmdlor permits, inrlrxdiag but not litttited m the following work: plugging and peratanerrt <br />abattdoomect of the Well; disconnecting, capping off and removing nay fbwlines from the W dl as <br />tteoessary following all Colorado 00 and Gas Conservation Commission ("COGCC'~ and county <br />policies and regulations releued m phtggittg and patmanent abatrdomrtctn of the well, acrd removing <br />the cqunptnccst m be retained by Texas Tea(coll«tively the "PErA wotk'~. Tacos Tea shall also clean <br />trp any enviroataeatal damage esosed dutitrg the pluggutg and abandonment of the Well; die site <br />surface rtcismetion of tlffi liVdls, and fbwlitttx folbwitrg all Colorado Oil and Gas Coascrvation <br />Commission ("COGC'C")(colleuivelyrhe "Sire R-~~~'~_ Texas Tea shall obtain all necessary <br />~~ '`~ <br />'J <br />;~ <br />~~ <br />