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S . <br />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 ti whether title to the shares and <br />evidence of historic use of the water are title acctable to <br />Centennial. The not.`ce shall specify any defects, <br />and Cooley shall use reasonable efforts to correct any <br />title defects prior -D date of closing. <br />E. If Cooley is unable to provide historic use evidence <br />satisfactory to Cente :vial 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 eE.:h party hereto shall be released <br />from all obligations hereunder, and all things ireturned value . to <br />received hereunder '-.)y Cooley shall <br />Centennial; provided however, that Centennial may waive <br />any title defect or - ay defect in historic s or vidence <br />by written notice <::livered to Cooley on <br />closing. <br />at 10:00 a.m. <br />F. Closing shall be held •.n February 10, 1997 <br />at the offices of Centennial unless the parties mutually <br />agree to a different ate and time for closing. water <br />G. Centennial's gn paragraph 3.B. shall not beieffective <br />described abov,e <br />until Cooley's Nevada )itch shares have been transferred <br />to Centennial's name -)n the books the Nevada <br />operate Ditch <br />Holding Company. C.)oley agrees <br />Centennial in arrangig for the transfer of said stock <br />certificates to Centennial's name. <br />H. Time is of the essen--e hereof. If. any obligation or <br />condition hereunder is not performed or satisfied as <br />herein, provided, there shall be the following remedies: <br />(1) If Cooley is in default! <br />ennt <br />. (a) Centennial may elect to treat this agreement <br />as 'terminated, in which case any <br />value received hereunder by Cooley shall be <br />returned to Centennial; or <br />(b) Centennial may elect to treat this agreement <br />shall u have force the right to effect <br />an action <br />n <br />Centennial <br />for specific performance. <br />3 <br />