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11 <br />limited by the foregoing, any and all other right, title or Interest represented <br />by the Colorado Ag Shares or otherwise held by the Setter in the Company. <br />The rights described In paragraphs 1.e. and 1.b., above, shall be referred to <br />herein as the "Water Rights." <br />2. Consideration. As conslderation for the Colorado Ag Shares, Thomton agrees to <br />permanently tease and provide for seller's use the following amount of fully <br />consumable water delivered by Thornton to the South Platte River from any water <br />rights owned by Thornton that are decreed for irrigation and other municipal uses <br />to be used by Seller or Its asstgnees for any purpose consistent with the decrees. <br />The rate, period and location of water delivery are set forth below. <br />a. Delivery Pq lod and Rate. Thornton shall deliver fully consumable water at a <br />rate of 0.036 c.f s./day November 4 through March 31. <br />b. Location. Thornton agrees to deliver the fully consumable water to the South <br />Platte River In the reach from the outfall of the Metropolitan Wastewater <br />Reclarilation District Central plant to the confluence of Big Dry Creek and the <br />South Platte River, but In any case above the calling right within that reach. <br />3. Water Quality. Thornton does not warrant or guarantee that the fully consumable <br />water it provides satlefles any water quality standards. <br />4. pue Diligence. Thornton shall have the right, with. the assistance of attorneys, <br />engineers and such other consultants as Thornton may deem useful, to make <br />such investigations of the Water Rights as Thornton may desire, Including, but not <br />limited to, Investigations of Seller's title to and use of the Water Rights. Based <br />upon such Investigations, Thornton may.. In Thornton's sole discretion, prior to the <br />Closing Date, request Seller to cure any curable defect, or determine not to <br />purchase the Shares. <br />a. ThorntQn,'s Right to Request Cure. In the event Thornton decides to request <br />Seller to cure any defect, Thornton shall so notify Setter in writing, including <br />a detailed description of the deflect, the steps Thornton deems necessary to <br />cure said defect, and the length of time Thornton is providing Seller to cure <br />the defect. In the event Thornton requests cure of any defect, Seiler may <br />elect to attempt to cure said defect within the time provided, or may elect not <br />to attempt to cure said defect by so notifying Thornton in writing by certified <br />mail, return receipt requested, or by hand delivery. Upon receipt or hand <br />delivery of such notification, Thornton may, In Thornton's sob discretion, up <br />to and Including the Closing Date, determine not to purchase the Colorado <br />AV Shares by notification to Seller as set forth in paragraph 4.b. below or <br />may purchase the Colorado Ag shares with such defect. <br />b. ThornWl Right to Terminate Agreement, In the event Thornton decides <br />not to purchase the Colorado Ag Shares due to any defect, or decides that <br />Seller has not adequately cured any defect, Thornton shall so notify Seller In <br />writing by certified mail, return receipt requested, or by hand delivery. Upon <br />malling or hand delivery of such notification, this Agreement shall be <br />terminated and shall be null and void. <br />Page 2