2011-03-14_REVISION - M1977493 (41)

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CM0000892 Reservoir Company shall provide copies of such results to Climax upon written request. The confidentiality obligation hereunder shall terminate upon Closing. (c) Unacceptable Title. If the Reservoir Company's tests, inspections or investigations produce results unacceptable to the Reservoir Company, or if title to the Eagle Park Reservoir or the title commitment referenced in subparagraph (a) above contains exceptions or requirements that would preclude Climax from performing its obligations hereunder , the Reservoir Company's sole remedy shall be to elect by written notice to Climax to either: (i) extend the date of the Closing 60 days for the purpose of correcting such defects to the Reservoir Company's satisfaction at the Reservoir Company's expense (or at Climax's expense if Climax so agrees), (ii) to waive such defect, or (iii) to terminate this Agreement. 17. Default; Remedies. In the event of default hereunder by any party, the remedies upon default are as set forth below unless otherwise provided in this Agreement. The remedies of the parties shall survive any termination of this Agreement. (a) A default shall be deemed to have occurred if either party breaches its obligations hereunder and fails to cure such breach, for non-payment of sums hereunder, within five days of receipt of written notice by the non-breaching party specifying the breach, and for all other breaches, within 30 days of receipt of written notice specifying the breach. (b) Upon any default by either parry, the non-defaulting party shall be entitled to seek any available remedies under law or equity (including, without limitation, specific performance and/or damages) and the prevailing party shall also be entitled to recovery of its reasonable attorneys' fees, expert witness fees, and court costs. 18. Additional Yield. The parties acknowledge that even if the physical capacity of 1 Eagle Park Reservoir Project remains constant, the firm yield of the Project could nevertheless be increased beyond 2,013 acre feet if additional water rights and water supplies are integrated in the Project. The development of such additional yield ("Additional Yield") shall be governed by the following provisions. (a) The Reservoir Company shall pay Climax $1,000.00 in cash or certified funds,. per acre foot of additional firm yield that is developed. It is understood that this payment shall be in addition to the price, if any, that the Reservoir. Company may pay to acquire additional water rights to integrate into Eagle Park Reservoir in order to develop such Additional } Yield. Said -payment shall be due within 30 days of the entry of a final decree, not subject to Y appeal (save for any retained jurisdiction provisions), adjudicating and/or changing the water f rights that are the legal source of the Additional Yield; provided, however, that if the Additional Yield is the result of a negotiated agreement and an adjudication or change of water rights is not X necessary in order to create such Additional Yield, then the payment shall be due within 30 days i` of the date said agreement is signed. o?w e, N Oho _ v tic ¦s mm? ma- 49 zw` 8 Bad r OD 0 a? o NONE eeee, A ? t; r, M26619 -13- ??1111111 lilll 11111111111 IIIII Illlli IIIII III 111111 III 1111 666203 08/17/1998 03:10P 23 Sara Fisher 13 of 112 R 361.00 0 0.00 N 0.00 Eagle CO