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CM0001002 <br />2. Warranties. VA warrants that it is the owner of the VA Conversion Option and <br />600 AF Option. Climax warrants that it is the owner of the Climax Conversion Option. Both <br />parties warrant that they have full right, power and authority to effect the foregoing terminations. <br />Executed as of the date first set forth above. <br />VAIL ASSOCIATES, INC., a Colorado corporation <br />E By: <br />Title: <br />x n`, <br />CLIMAX MOLYBDENUM COMPANY, a Delaware <br />cor oration <br />- r <br />3 t,4 <br />y- <br />^R <br />4. " <br />MB1857 <br />4 <br />gL <br />P <br />By: <br />Title: ?cc <br />1111111 illil 1111111 IIII Nll llllli.lll?ll III IIIII IIII IIII <br />669741 09/17/1998 04:28P 409 S ra Fisher <br />2 of 3 R 16.00 D 0.00 N 0.00 Eagle CO <br />• <br />t <br />•