Laserfiche WebLink
insuring title to the Property (except for <br />the Mined Land) in Buyer in the amount of <br />subject only to the <br />Permitted Exceptions. <br />6. Prorations. The prorations to be made at the <br />Closing pursuant to the terms of Paragraph 16 of the Agreement <br />shall be made with respect to the portion of the Property which <br />does not include the Mined Land rather than the entire Property. <br />7. Form of Special Warranty Deeds.. The form of the <br />special warranty deeds attached to the Agreement as Exhibits E-1 <br />and E-1 shall be amended to be in the form of the documents <br />attached hereto as Attachments 1 and 2 respectively. <br />8. Assianment. Buyer has notified Seller that, at <br />the Closing, Buyer intends to assign all of its right, title, and <br />interest in, to, and under the Agreement to Cottonwood Land <br />Company, a Delaware corporation ("Cottonwood"). Pursuant to the <br />terms of Paragraph 18 of the Agreement, Seller hereby confirms <br />its consent to such assignment; provided that,'at the Closing, <br />Buyer shall cause Peabody Holding Company, Inc., a New Yark <br />corporation ("PHCI"), to execute and deliver to Seller an <br />unconditional guaranty of the payment and performance of all <br />obligations of Cottonwood under the Agreement, the Note, and the <br />Deed of Trust in form and substance reasonably acceptable to both <br />Buyer and seller. Cottonwood is a wholly-owned subsidiary of <br />PHCZ. <br />I~ <br />9. Acknowledgements. Buyer hereby acknowledges that <br />there are a number of parcels of land that are owned by the <br />United States Bureau of Land Management or other third parties <br />which are fully-enclosed within the perimeter boundary of the <br />Property. Buyer hereby acknowledges that the respective amounts <br />of title insurance required hereunder to be obtained by Seller <br />with respect to the Property (other than the Mined Land) and the <br />Mined Land are not intended in any way to reflect a determination <br />or opinion of the value of those portions of the Property. Such <br />amounts shall not be used or relied upon by either party or by <br />any third party for any purpose whatsoever, including, without <br />limitation, as evidence of the value, or either party~s opinion <br />of the value, of the respective portions of the Property. <br />10. Counterparts; Facsimile Execution. This Amendment <br />may be executed in counterparts and, when counterparts of this <br />Amendment have been executed and delivered by each of the parties <br />hereto, this Amendment shall be fully binding and effective, just <br />as if each of the parties hereto had executed and delivered a <br />single counterpart hereof. Without limiting the manner in which <br />execution of this Amendment may otherwise be effected, execution <br />by any party may be effected by facsimile transmission of a <br />signature page hereof executed by such party. If any party <br />effects execution in such manner, such party shall also promptly <br />deliver to the other parties a counterpart physically signed by <br />-6- <br />