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CM0001239 <br />BILL OF SALE <br />This Bill of.Sale,'dated August j', 1992, is from <br />climax Molybdenum Company, a Delaware corporation (OSellerO), <br />to the Clinton Ditch & Reservoir Company, a Colorado nonprofit <br />ditch and reservoir company (the NCompany"). <br />1. Transfer of Personalty. For good and valuable <br />consideration, the receipt and sufficiency of which are hereby <br />acknowledged, Seller hereby sells, transfers, assigns and <br />conveys to the Company all of Sellers right, title and <br />interest in and to the equipment, described in Attachment 1 <br />hereto (the 'Personalty"'), located on or within the real <br />property more particularly described in Attachment 2 hereto. <br />2. Warranty. Seller hereby warrants to the <br />company, its successors and assigns, that.Seller has good <br />title to the Personalty, free and clear.of all liens and <br />encumbrances. Seller warrants to the Company.that the <br />Personalty currently complies with all applicable regulations <br />and statutes governing dam construction and maintenance. <br />Seller makes no other warranties, either express or implied, <br />as to the condition of the Personalty or its fitness for a <br />.particular purpose. <br />3. Further Assurances. Seller hereby agrees to <br />execute and deliver any further documents or assurances that. <br />are necessary or desirable to vest, perfect or confirm, of <br />record or otherwise, in the Company title to the Personalty. <br />Executed as of the date first set forth above. <br />CLIMAX MOLYBDENUM COMPANY, a Delaware <br />corporation <br />VICE ?)1C67S1 &E-AJT <br />Exhibit 40 <br />