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1.3 The total purchase price for the Option Parcels shall be an amount equal to <br />plus any additional consideration as required by Section 6 of the Original Contract and as <br />more specifically described herein as follows: <br />A. Paragraph 6.2 of the Original Contract requires Greeley to pay additional <br />consideration upon the occurrence of the following three conditions: (i) Greeley <br />exercises one or both of its options to purchase Parcel B and/or Parcel C pursuant <br />to Paragraph 6.1 of the Original Contract, and completes the purchase(s) thereof; <br />(ii) Greeley successfully completes the lining and other construction necessary to <br />store more than iacre -feet of water simultaneously in reservoirs located on <br />the Poudre Ponds Parcel and reservoirs located on Parcel B and/or Parcel C; and <br />(iii) Greeley receives any approval necessary from the State Engineer's Office or, <br />if challenged by a third party or otherwise required, judicial approval of the <br />reservoir structure(s) for storage of water without augmentation. <br />B. Following the occurrence of the conditions described in Paragraph 6.2 of the <br />Original Contract, Greeley shall obtain a survey of the maximum lawful storage <br />capacity of the reservoir(s). For every acre -foot of storage capacity determined to <br />be available to Greeley pursuant to such survey that exceeds OM acre -feet, <br />Flatiron shall be entitled to receive a one -time payment of Waft adjusted <br />upward by 4 percent compounded annually per full year between the date of the <br />Original Contract and the date of the storage capacity survey. <br />C. Greeley shall make any additional consideration payment earned by Flatiron <br />within 180 days from the occurrence of the conditions specified Paragraph 6.2 of <br />the Original Contract. <br />D. Flatiron's right to receive any additional consideration payments shall terminate <br />on September 30, 2050. Greeley's obligation to make such payments shall be <br />limited to Flatiron or its assigns as clearly evidenced by written assignments <br />promptly provided to Greeley, or by final orders from a court of competent <br />jurisdiction. Flatiron may only assign its entire right to receive such payments to <br />a single person or entity, and any subsequent amendments of the entire right to <br />receive such payments shall also be to a single person or entity. <br />E. Paragraph 6.6 of the Original Contract provides that in order to secure Greeley's <br />obligation to make additional consideration payments, at the closing of the <br />purchase of the Option Parcels Greeley shall provide Flatiron with a deed of trust <br />on such parcels or other mutually acceptable security instrument in the amount of <br />the number of acre-feet of lawful water storage capacity then reasonably <br />estimated by Greeley to be available on such parcels times - Such <br />3 <br />