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<br />• <br />4. Title Insurance <br />4.1 Existing Policies <br />A. Transamerica Title Insurance Policy No. 7803756, issued <br />10/30/80 to H-G West <br />B. Transamerica Title Insurance Policy No. 7803754, issued <br />12/17/80 to H-G West <br />C. Transamerica Title Insurance Policy No. 8,001,332-0, issued <br />5/22/75 to W.R.Grace & Co. <br />D. Transamerica Title Insurance Policy No. 8,003,173, issued <br />4/19/78 to H-G <br />E. Transamerica Title Insurance Policy No. 7803753, issued <br />12/17/80 to H-G West <br />F. Title Opinion as to Lots 15 and 16, Section 30, TSN, R88W, <br />issued 5/22/78 by Davis, Graham & Stubbs ("DG&S") <br />G. Preliminary Title Opinion as to Lots 1,9,10,11,12,15,16,17, <br />Section 13, TSN, R89W, issued 9/16/80 by DG&S <br />H. Title Opinion as to parts of Section 30 and 31, TSN, R88W, <br />issued 5/23/78 by DG&S <br />I. Title Opinion as to part of Section 29, TSN, R88W, issued <br />5/24/78 by DG&S <br />J. Title Opinion as to parts of Sections 17, 19, 20 and 30, TSN, <br />R88W, issued 5/23/78 by DG&S <br />5. Leases and Wildlife Hunting Proeram Aereements <br />5.1 Cooperative Agreement for Wildlife Ranching: State of Colorado is <br /> H-G West and H-G; 3/1/91 <br />5.2 Wi]liams Fork Mountain Ranch Ranching for Wildlife Management <br /> Plan <br />5.3 Wildlife Ranching Lease: Hayden-Gulch West Coal Co., H-G, and <br /> Tarrell Massey; 4/1/90 <br />5.4 Grazing Lease: ABR and Tuttle Ranch and Livestock; 1/1/94 <br />5.5 Letter Agreement: ABR and Everett L. Williams; 3/21/94 <br />5.6 Farm Lease: ABR and Everett and Mary J. Williams; 1/1/94 <br />5.7 Grazing Lease: ABR and David and Kathleen Smith; 1/1/94 <br />5.8 Agricultural and Livestock Grazing Lease: J. Burton Tuttle and <br /> Hayden-Gulch West Coal Co.; 12/5/80 <br />D-2 <br />