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17. ~ ~ ~NOi ASSIGNABLE: This contract shall not be asaigrabie by Buyer without Sellers prior written consent. Except as so
<br />reaWcted, Ws ooniract shall kace to the berrefit d~ba binding upon the heirs, pttsonai represenlallvea, saws ant
<br />assigns dthe parties.
<br />18. CONDITION OF. AND DAMAGE TO PROP AND INCLUSIONS. Except as olhervAae proNded In this contract.
<br />tM Property, krclusions a Ooth shall ba tldivttetl N U» condition ezlstkig as of the date d Ws cadrad, ordinary wear and tear
<br />excepted.
<br />a. Caaualty. Insurance. h Ure evert the Property w Inelwlau shall be damaged W fire w othtt casualty pr'rw to
<br />Gwkg, In an amount d not maa than ten percent d the total Ptnchasa Price, Seller slWl be obligated to repair the same before
<br />the Dosing Dats (§2e). N the avert such damage Is not repaired within said Ume a H the damages exceed such sum, this
<br />contract may be termlruted at the option of Buytt by tleUvaring to Seller written raUce d lttminadon. Stwuld Buyer elect to carry '
<br />out Ihfa eadract despHe such damage, Buyer shall be untitled to a wediL at posing, for all the Insurance proceeds resulting
<br />ham such damage to the Property and Inclwlaro payable to Seller but not the owners' assoclatlon, if em, plus the amount of airy
<br />deductible proNdetl for In such Insraanea pulley, such credit not to exceed the total Purchase Price.
<br />b. Damade: Ineluslons: Services. Should airy krdusion(a) w servke(s) (ncluding systems and cwnponenls or
<br />the Property, e.g. heating, pltsndng, etc.) fail w be damaged bebveen the dale d this tamed and Casing or possession,
<br />whlchevtt shall be earlier, than Seller shall ba liable for fhe repair a replacement of such brdusion(s) or service(s) with a unit of
<br />similar size, age end quality, wan equlvaleM wedit, but oNy to the extent that the maintenance or replacement of such
<br />Inclusion(s), service(s) or fidwe(a) is not the respauibilily d the owners' assoclatlon, it any, less airy Inswarrce proceeds
<br />receved by Buyer covering stuJr repair or replacement. The risk d boa fa arty damage to growing wops, by lire w oilier
<br />casualty, shall be home by the party entllled to the growing crops, If any, as proNded In §3 and such party shall be entitled to
<br />such Insurance proceeds w benefits lw the growing crops, I(alry.
<br />c. Walk Through; Vertfieatlon of Condition. Buyer, upon reasonable rwtice, shall have the right to walk through
<br />the Property prior to Closing to vttily that the physical condition of the Property and Inclusions complies with this contract.
<br />19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By algNrg this doerxnent, Buyer and Seller acknowledge That
<br />the Selling Company w the LlaUng Company has adNaed That this document has Important legal cau:equences and has
<br />recommended the axaminallaf d tHle and wnaulta0on with legal and tax a other camsN betas signing this crnlract.
<br />20. TIME OF ESSENCE AND REMEDIES. Time Is of the essence hereof. H arty note w check receved as Earnest Money
<br />hereunder or any othtt payment due htteunder Is rat paid, honored or tendered when due, or If arty dher obligation hereunder is
<br />not performed a waived as httdn proNded, there shall be lha following remedies:
<br />a. It Borer Is In Default:
<br />f I (11 Soeci(Ic Partortnanee. Seller may elect to treat INa contract ea canceled, in which case all payments
<br />and things of value received hereunder shall be forteHed eM retained on behalf d Selltt, and Seller may recover such damages
<br />es may be proper, a Seller may elect to treat tWs contract es being In full fade end effect and Seller shall have the right to
<br />specific performance w damages, w both.
<br />1~ (2) Lleuldated Damepas. All payments and tNrga of value reeeved hweundtt shall be forfeited by Buyer
<br />and retained ctrl behalf d Selitt and both parties chap thereaHtt be released fran all obligatiau hereadtt. It is agreed that such
<br />payments and Wngs of value are LIQUIDATED DAMAGES and (except as provided d subsection c) are SELLER'S SOLE ANO
<br />ONLY REMEDY for Buyer's failure to pertam the obligatlona of this contract. Seller expressly orators the remetlles of specific
<br />perormance and eddillonal damages.
<br />h. If Seller Is In Default: Buytt may elect to treat Wa contract es canceled, In which case all payments and
<br />things of value received hereunder shall be rdtmed ant Buyer may recover such damages as may be proper, w Buyer may elect
<br />to treat this edntract as being In toil taco and affect and Buytt shall have the rlgM to specific partwmarv:e w damages, w both.
<br />e. Costs end Expenses. N the event d arty erdtrallon w IHigatlan relating la this conVad, the arbitrator or court
<br />shall sward to the prewlUng party aU reaanahle coats and expenses, Irrludrg ariamry fees.
<br />21. MEDIATION. H a dispute efface rdalbg to Ws cadraot. Ixior to w after Goring, and Is not resolved the parties shall
<br />Ilnl proceed N pond faith to submit Uis mailer to mediation. Medlallon Is a process In wMch the paNes meet with an Impartial
<br />Ixrson who hNps to rasdve the dispute kdamdty and eonfidentlatly. Madlatas eamot Impose binding dedalons. The parties to
<br />the depute muri spree betas arty uttlsmsM Is dndirq. Thor partbs vAU )olydty appdM sn aeeeptable mediate one will share
<br />equaly M the cwt of such madation. TM rnedaUOn, uNass oUrarw/se agreed atrnU terminate in the event lha entire dispute Is
<br />rest resdvetl 10 calendar drys ban the tlate written notbe raquesUrp mediaUOn Is sent by are party to the atror(s). This Section
<br />shall not alttt arty date N this camsct, uMeas oltarwiss agreed.
<br />22. EARNEST MONEY DISPUTE NdlvNtftatartdirq srry lermkuUon d Ws coMraoL Buyer and Seller agree that, In Hte
<br />evert d any eadroversy regarding Ihs Eamest Money and Wnga d value heW W brokar w Goring Canparry (unless mutual
<br />wrhlan Ins Wetlons are received M the hddtt d Ute Earneal Money and Wngs d value), broker w Goring Comparry shall not ba
<br />required to take arty action but may await arty proceeding, w et brokers or Gwbg Comparry's option and ode dswetlan, may
<br />IMerplaad all parges and delloaN arty moneys w things of value Into a court of canpelent ItalsdcBon and chap recover court costs
<br />and reasonable attorney lees.
<br />21. TERMINATION. N Iha even) this contract is termiruled all payments end lNnga of value received hereunder shall be
<br />returned ant the parties shall ba relieved of all odlgaUOw hereunder, su6led to §§10c. 21 and 22.
<br />24. ADDITIONAL PROVISIONS. (The language at these additional provisions has not bean apProvad by lira
<br />Colorado Raal Fatale Commlaslon.)
<br />9~~ AGdendum atGChad har~to_nd made mart. of Fhie contract
<br />ii,:.
<br />ee bw eve~aa yr FOrmll/L1COf p.u~• rm361eff core Nad ~ sore yYyr~{l~ /Y r Pxge 4 e1 5
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