2011-03-14_REVISION - M1977493 (56)

Home Browse Search

CM0001005 AGREEMENTS , 1. Termination of Right s. VA hereby terminates and relinquishes the following; (a) the Storage Conversion Option, and (b) the Storage Rights. VA warrants that it is the owner of the Storage Conversion Option and the Storage Rights terminated herein, and that it has, the full right, power and authority to terminate such rights as set forth herein. 15; 1; 2. Deed. VA hereby sells and conveys to Climax 45 acre feet of the 500 acre feet per year of the AW Priority Water, reserving to itself and its successor and assigns the remaining 455 acre feet per year of the AW.Priority Water (the "Retained AW Priority Water"). VA warrants that it is the owner of such 45 acre feet per year, of AW Priority Water and warrants title to the same against all persons claiming by, through or under VA, together with any after acquired title thereto` VA warrants that it has full right, power and authority to convey such rights as set forth herein. 3. Delivery Rights. VA, and its successors and assigns, retains, and reserves the perpetual rights to the delivery of the Retained AW Priority Water as set forth in Article 2 of the 1993 Agreement, subject to the terms of such Article 2. In accordance with paragraph 2.6(h) of the 1993 Agreement, Climax agrees to execute and deliver to VA or its successor or assigns such y other and further documents as may be reasonably requested by VA, or its successors or assigns, to evidence the specific Climax property burdened by the diversion and delivery easements retained, and reserved herein. Climax warrants that it is the owner of property sufficient to effectively provide the easement for the diversion and delivery of the Retained AW Priority Water described in paragraph 2 above: Executed as of the date first set forth above. VAIL ASSOCIATES, INC., a Colorado corporation By; Tit q CLIMAX MOLYBDENUM COMPANY, a Delaware corporation Gam" By; N Titlet ce M l J MB 1857 . I Illlli Iilil llillll 1111I11s Illlil111111111 Illll III! IIII 669742 09117/1998 04:29P 388 Sara Fisher 2 of 3 R 16.00 D 0.00 N 0.00 Eagle CO