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East a distance of 709.25 feet to a point; thence with a bearing of North 45 Degrees 04 Minutes 45 Seconds Eas[ a distance of <br />938.92 feet to the point of beginning.; which is the POINT OF BEGINNING. CONTAINING 3,494.94 acres. <br />LESS AND EXCEPT THE FOLLOWING DESCRIBED THREE TRACTS: <br />EXCEPTED TRACT ONE: <br />Beginning at a point being the southwest corner of Section 36, Township 5 North, Range 86 West, Routt County, Colorado and having <br />coordinates of N:369993.00, E:1583729.00; thence with a bearing of South 14 Degrees 46 Minutes 08 Seconds East a distance of <br />6826.87 fee[ to a point; <br />COMMENCING at a point having coordinates of N:363391.68, E:1585469.32; thence with a bearing of South 03 Degrees 55 <br />Minutes 39 Seconds East a distance of 543.95 feet to a point; thence with a bearing of Sauth 03 Degrees 54 Minutes 51 Seconds <br />East a distance of 523.44 feet to a point; [hence with a bearing of South 03 Degrees 48 Minutes 04 Seconds East a distance of <br />451.44 feet to a point, thence with a bearing of South 03 Degrees 50 Minutes 54 Seconds East a distance of 541.45 fee[ to a point; <br />thence with a bearing of South 03 Degrees 56 Minutes 02 Seconds East a distance of 485.18 feet [o a point; thence with a bearing of <br />South 04 Degrees 06 Minutes 23 Seconds East a distance of 422.21 feet to a point; thence with a bearing of South 03 Degrees 49 <br />Minutes 48 Seconds East a distance of 292.60 feet to a point; thence with a bearing of South 03 Degrees 58 Minutes 58 Seconds <br />East a distance of 303.37 feet to a point; thence with a bearing of South Ol Degrees 28 Minutes 53 Seconds East a distance of 35.44 <br />feet to a point thence with a bearing of North 73 Degrees 16 Minutes 07 Seconds East a distance of 51.98 feet to a point; thence <br />with a bearing of North 90 Degrees 00 Minutes 00 Seconds East a distance of 44.28 feet [o a point; thence with a bearing of North <br />83 Degrees 56 Minutes 28 Seconds East a distance of 54.97 feet to a point; thence with a bearing of North 03 Degrees 54 Minutes <br />53 Seconds West a distance of 277.33 feet to a point; thence with a bearing of North 03 Degrees 50 Minutes 06 Seconds West a <br />distance of 497.68 feet to a point thence with a bearing of North 04 Degrees 06 Minutes 32 Seconds West a distance of 537.03 feet <br />to a point; thence with a bearing of North 03 Degrees 41 Minutes 22 Seconds West a distance of 607.46 feet to a point; thence with a <br />bearing of North 03 Degrees 56 Minutes 51 Seconds West a distance of 505.70 feet to a point; thence with a bearing of North 03 <br />Degrees 55 Minutes 31 Seconds West a distance of 513.03 feet to a point; thence with a bearing of North 03 Degrees 43 Minutes 38 <br />Seconds West a distance of 187.91 feet to a point, thence with a bearing of North 03 Degrees 49 Minutes 38 Seconds West a <br />distance of 265.36 feet to a point; thence with a beazing of North 03 Degrees 47 Minutes 03 Seconds West a distance of 310.03 feet <br />to a point; thence with a bearing of South 46 Degrees 03 Minutes 53 Seconds West a distance of 58.10 feet to a point thence with a <br />bearing of South 50 Degrees 35 Minutes 58 Seconds West a distance of 33.20 feet to a point, thence with a bearing of South 50 <br />Degrees 43 Minutes 24 Seconds West a distance of 97.44 feet to the point of beginning.; which is the POINT OF BEGINNING. <br />CONTAINING 12.51 acres. <br />EXCEPTED TRACT TWO: <br />Beginning at a point being the southwest corner of Section 36, Township 5 North, Range 86 West, Routt County, Colorado and having <br />coordinates of N:369993.00, E:1583729.00; thence with a bearing of South 09 Degrees 58 Minutes OS Seconds East a distance of <br />13353.17 feet to a point; <br />COMMENCING at a point having coordinates of N:356841.40, E:1586040.40; thence with a bearing of North 04 Degrees 51 <br />Minutes 16 Seconds West a distance of 479.96 fee[ [o a point; thence with a bearing of North 03 Degrees 44 Minutes 04 Seconds <br />West a distance of 497.01 feet to a point; thence with a beazing of North 04 Degrees 43 Minutes OS Seconds West a distance of <br />356.37 feet to a point; thence with a bearing of North 02 Degrees 45 Minutes 33 Seconds West a distance of 50.75 feet to a point; <br />thence with a bearing of North 02 Degrees 58 Minutes Ol Seconds West a distance of 100.30 feet to a point; thence with a bearing of <br />North 02 Degrees 52 Minutes 51 Seconds West a distance of 334.21 feet [o a point; thence with a bearing of South 45 Degrees 51 <br />Minutes 00 Seconds West a distance of 72.78 fee[ to a point; thence with a bearing of South 54 Degrees 14 Minutes 21 Seconds <br />West a distance of 82.04 feet [o a point; [hence with a bearing of South 03 Degrees 34 Minutes 55 Seconds East a distance of 796.79 <br />feet to a point; thence with a bearing of South 04 Degrees 57 Minutes 44 Seconds East a distance of 511.92 feet to a point; thence <br />with a bearing of South 04 Degrees 02 Minutes 16 Seconds East a distance of 338.29 feet to a point, thence with a bearing of South <br />60 Degrees 20 Minutes 38 Seconds East a distance of 146.89 fee[ to the point of beginning.; which is the POINT OF BEGINNING. <br />CONTAINING 4.77 acres. <br />EXCEPTED TRACT THREE: <br />Page 11 of 16 <br />August 15, 2005 <br />