2007-04-19_REVISION - M1997065 (4)

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1,= xl~~ 6~ r AMENDMENT TO LEASE AGREEMENT AND OPTION TO PURCHASE THIS AMENDMENT TO LEASE AGREEMENT AND OPTION TO PURCHASE ("Amendment"} is entered into this day of 2007, by and between WILLIAM H. PORTER ("Landlord") and L. JAMES STRIGGOW ("Tenant"). WITNESSETH: WHEREAS, Pursuant to a Lease Agreement dated December 4, 2001 (the ":Lease"), Landlord agreed to lease to Tenant, property located in Sections 13 and 24, Township 8 North, Range 70 West of the 6`" P.M., Larimer County, Colorado (the "Leased Premises"); and WHEREAS, the parties wish to amend certain portions of the Lease. NOW, 'T'HEREFORE, the parties agree as follows: 1. The legal description of the Leased Premises, as referenced in Article 1.1 of the Lease is hereby changed. The new description for the Leased Premises is as shown in Exhibit A-1 attached hereto. 2. Article 2.1 of the Lease is hereby amended in its entirely to read as follows: Team. 'The term of this Lease which commenced December 1, 2004, shall terminate; on December 3 1, 2030 at midnight, Mountain Standard. Time. 3. Article 9.1 of the Lease is hereby amended in its entirety to read as follows: "1,he 1=ixtended Term shall commence at midnight on December 31, 2030, and shall terminate at 12:00 midnight on December 31, 2050. 4. Article l l .4(a) of the Lease is hereby amended in its entirety to read. as follows: Title. At least sixty (60} days prior to closing as referenced in Paragraph 11: ~ c below, Landlord shall provide Tenant with a title insurance commitment fi•om the title insurance company of Landlord's choice in the amount of the purchase price disclosing marketable title, free and clear of all liens and encumbrances except for rights of way and easements in existence of record, general real estate taxes for the year of closing and thereafter, the liens of any special statutory districts and similar items. Tenant shall have ten { 1 O) days from the date of delivery of said title insurance commitment within which to have the same examined and to advise if title is acceptable to Tenant. If Tenant objects to any title defeca which cannot be cured, this transaction may be terminated at Tenant's option, ar Tenant can elect to purchase the Leased Premises with said title defect without any abatement of any portion of the purchase price.