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_ ,^.IT Cf iCLC?AGO CCliV1Y OF MCNT'AOa'E74~ <br />E ,y_,... :, ,T,.t' 1:06 •;; _~ <br />• ~' itE~FPIX.W. b03BY2-iw1H Ef~EnfltAECOPt`,EF <br />MEMORANDUM AGREEMENT tDDR O~ir.M64 <br />FOR <br />"`~ /~ OPTION AGREHMENT <br />j~THI ORANDUM AGREEMENT is made on the ddY of , <br />by and between JAMES X. JOHNSON and RUTH E. JOHNSON, P.O. ox <br />607, Nucla, Colorado, 81424 ("Seller"), and WESTERN FUELS-COLD O, <br />A LIMITED LIABILITY COMPANY, a Colorado Limited Liability Company <br />("Purchaser"), d05 Urban Street, Suite 305, Lakewood, Colorado, <br />80228. It is the intent of the pertlea to this Memorandwa <br />Agreement that thla document serve as a recordable Manic andum <br />givi £ull notice of at tion Agreement dated ea of ~ day <br />of g.~, ~ 4E a the Seller and the Purchaser. <br />Salle owns in a e the real property iegally described <br />as follows: <br />THE SOUTHWEST } OF SECTION 36, TOWNSHIP 47 NORTK, RANGB <br />16 WEST OF THS NEW MERICO PRINCIPAL MERIDIAN, EXCEPT A <br />TRACT DESCRIBED AS BEGINNING AT THE SOUTHWEST CORNER OF <br />SAID SfiCTION 36; THENCE NORTH 00 DECREES 10 MINUTHS EAST <br />ON SECTION LINB 352 FBHT; THENCE NORTH 57 DECREfi6 50 <br />MLNUTHS EAST 332 FEET; THENCE NORTH 67 DECREES 55 MINUTES <br />EAST 700 FEETi TRENCH SOUTH 59 DEGREES 50 MINUTES EAST <br />689 FEET; THENCE SOUTH 38 DHCREES 35 MINUTES EAST 602 <br />FEET TO SECTION LINE; THENCE NORTH B9 DHCRHES 15 MINUTBS <br />WEST ON SECTION LINE 1902 FEET TO THH POINT OF BEGINNING, <br />-~~ ) AND EXCEPT ANY RIGHT-OF-WAY FOR PUBLIC ROADS THEREIN, <br />COITNTY OF MONTROSH, STATE OF COLORADO, <br />including all surface rights, rights to coal and er minerals, <br />and rights to water (the "Property"). The so includea~ <br />the personal residence of Sellers .u~a.L,...-~ m CCcyy:, 77-// <br />Seller's twelve shares of Colorado Coop 1 ~yany'Stock <br />are specifically included in the Property. <br />Purchaser has requested that Seller grant to Purchaser an <br />option to purchase the Property, and Seller is willing to grant <br />such an option subject to the terms of this Agreement. <br />Accordingly, Seller and Purchaser hereby agree as follows: <br />1. GRANT -OF OPTION. Vpon and subject to the terms and <br />conditions of the Option, Seller hereby grants to Purchaser the <br />seclusive option (the "Option") to purchase of the Property in <br />accordance wlth the terms of the Option Agreement. The Option <br />shall expire as of the end of the Option Term, es hereinafter <br />defined, unless prior thereto, time being of the essence, Purchaser <br />has exercised the Option in accordance with Section 4. <br />~~ <br />• Attachment 2.03.6-1-47 <br />