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r • encumbrances, royalty interests, and other payments on or measured by production, to the extent created by, through or under Grantor or Adolph Coors Company, but not otherwise, excluding from such special limited warranty the terms, provisions and obligations contained in the Agreements. Grantor's liability under the foregoing special limited warranty is limited as provided in Section 9.03 of that Purchase and Sale Agreement dated as of January 6, 1995 between Grantor and Grantee (the "Purchase Acrreement"). TO HAVE AND TO HOLD the Assets unto Grantee and its successors and assigns forever subject Co the reservations and to reversion as described below; provided, however, that THIS INSTRUMENT ZS MADE WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, except that Grantor warrants and agrees that its interest in the Land is free and clear of all liens, GRANTEE AGREES THAT, EXCEPT FOR THE SPECIAL LIMITED WARRANTY SET FORTH IN THE PRECEDING PARAGRAPH, NO REPRESENTATIONS, STATEMENTS, OR WARRANTIES, EXPRESS OR IMPLIED, HAVE BEEN MADE BY OR ON BEHALF OF GRANTOR REGARDING THE ASSETS, THEIR CONDITION, OR THE USE THEREOF. GRANTOR HEREBY EXPRESSLY DISCLAIMS ANY REPRESENTATIONS OR WARRANTIES TO GRANTEE WITH RESPECT TO THE EXISTENCE, QUANTITY, QUALITY, MINEABILITY OR MERCHANTABILITY OF COAL RESERVES OR ANY OTHER MINERALS LOCATED IN, ON OR UNDER THE LAND, AND WITH RESPECT TO THE EXISTENCE, NEGOTIATION, CONSUMMATION, TERMS AND CONDITIONS OF ANY PROPOSED AGREEMENT FOR THE SALE OF COAL FROM THE LAND. WITHOUT LIMITATION, GRANTEE AGREES THAT ALL PERSONAL PROPERTY SHALL BE PURCHASED BY GRANTEE IN ITS "AS IS" CONDITION AS OF CLOSING DATE AND THAT GRANTOR HAS NOT AND SHALL NOT MAKE, AND EXPRESSLY DISCLAIMS, ANY WARRANTY WITH RESPECT TO THE PERSONAL PROPERTY, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ALL WARRANTIES OF FITNESS FOR PARTICULAR PURPOSE OR MERCHANTABILITY WITH RESPECT TO THE PERSONAL PROPERTY. RESERVING AND EXCEPTING to Grantor, its successors and assigns, the royalty interest, minimum royalties and other interests described below and the following properties, assets, rights and obligations (the "Excluded Assets"), which are excluded from the Assets and shall be retained by Grantor: (a) All causes of action and claims of Grantor attributable to events occurring prior to the Closing Date. (b) All claims of Grantor for a refund of any and all taxes, assessments and similar levies, and all claims of Grantor for taxes, attributable to periods prior to January 1, 1995. (c) All water rights and ditch rights owned by Grantor. -2-