2011-03-14_REVISION - M1977493 (41)

Home Browse Search

CM0000927 a`r EXHIBIT F SPECIAL WARRANTY DEED AND PARTIAL TERMINATION AGREEMENT This Special Warranty Deed and Partial Termination Agreement, dated this _day of 199is between Vail Associates, Inc., a Colorado corporation ("VA") and Climax Molybdenum Company, a Delaware corporation ("Climax"). RECITALS. A. By and pursuant to that certain Purchase and Sale Agreement between VA and Climax dated April 9, 1993, and recorded in the real property records of Eagle County in Book 504 at Page 347, in the real property records of Lake County in Book 607 at Page 553, and in the real property records of Summit County at Reception No. 503635, as amended by Amendment dated May 18, 1993, and recorded in the real property records of Eagle County in Book 609 at Page 161, in the real property records of Lake County in Book 504 at Page 726, and in the real property records of Summit County at Reception No. 443264 (collectively, the "1993 Agreement"), VA acquired various rights from Climax. Among those rights was the Storage Conversion Option which is described and defined in paragraph 3.7 of the 1993 Agreement (the "Storage Conversion Option"). B. By virtue of the 1993 Agreement and Special Warranty Deed dated May 18, 1993, from Climax to VA, which deed is recorded in the real property records of Eagle County in Book 609 at Page 159, in the real property records of Lake County in Book 504 at Page 717, and in the real property records of Summit County at Reception No. 443261, Climax conveyed to VA the first 500 acre feet per year of historic transbasin diversions from certain water rights described therein (the "AW Priority Water"). C. By virtue of the 1993 Agreement, Climax granted VA the right to store the AW Priority Water in Chalk Mountain Reservoir and Buffehr's Reservoir (the "Storage Rights"). D. VA has agreed to relinquish and terminate its rights to the Storage Conversion Option, 45 of the 500 acre feet per year of the AW Priority Water, and the Storage Rights; reserving and retaining the right to divert and obtain the delivery of the remaining 455 acre feet of the AW Priority Water pursuant to the terms of the 1993 Agreement. THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: MB 1857 1111111111111111111111111111111111111111111111111111111 666203 08/17/1998 03:10P 23 Sara Fisher 48 of 112 R 561.00 D 0.00 N 0.00 Eagle CO .a w ao r i o W? r La _ rm? N mn 01 1 - 01 a °' vw? m m ass zW? mm? to -_ a w- ? a= 0 0 - • •