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D, Within thirty (30) days after Centennial's receipt of the <br />title evidence and historic use evidence provided for in <br />paragraph 3.C. above, Centennial shall give Cooley <br />written notice as t- whether title to the shares and <br />evidence of historic use of the water ar <br />title acce ptable to <br />Centennial. The not.:--e a shall specify Y <br />and Cooley shall use reasonable efforts to correct any <br />title defects prior �o date of closing. <br />E. If Cooley is unable to provide historic use evidence <br />satisfactory to Cente .nial or to correct any title defect <br />in a manner acceptar.e to Centennial on or before the <br />date of closing, thi. agreement shall be void and of no <br />effect, whereupon ea:h party hereto shall be released <br />from all obligations hereunder, and all things of value <br />received hereunder :.)y Cooley shall be returned to <br />Centennial; provided however, that Centennial may waive <br />any r t e de fect notice c :.liv to Cooleylcons e <br />or before <br />by written <br />closing. <br />F. Closing shall be held n February 10, 1997 <br />at 10:00 a.m. <br />at the offi different to and n t me for p arties mutually <br />agree to a losing, <br />G. Centennial's agreement to: lease augmentation water' <br />described above in pax.igraph 3.8. shall not be effective <br />until Cooley's Nevada )itch shares have been transferred <br />ks of the Nevada Ditch <br />to Centennial's name -)n the boo <br />es to cooperate with <br />Bolding Company. c.)oley agre <br />transfer of said stock <br />Centennial in arrangi g for the <br />certificates to Centennial's name. <br />H. Time is of the esser.::e hereof. If. any obligation or <br />condition hereunder _s not performed or satisfied as <br />herein,provided, ther:! shall be the following remedies: <br />(1) If Cooley is in dlefault: <br />(a) Centennial may elect to treat this agreement <br />as *terminated, in which case any things of <br />value received hereunder by Cooley shall be <br />returned to Centennial; or <br />(b) Centennial may elect to treat this agreement <br />as being in full force and effect and <br />Centennial shall have the right to an action <br />for specific performance. <br />3 <br />