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security instrument shall automatically terminate and be of no further force and <br />effect on October 31, 2050. <br />F. The parties agree that Greeley shall provide Flatiron with a deed of trust at closing <br />in the amount of for Parcel B and the SE Remnant Parcel only. <br />This amount is based upon an estimated maximum water storage capacity (that <br />exceeds MI acre -feet of water storage capacity in reservoirs located on the <br />Poudre Ponds Parcel and reservoirs located on Parcel B and/or Parcel C) of 1,451 <br />acre-feet in Parcel B multiplied by feflat per acre -foot. The parties <br />acknowledge that at this time Greeley plans to fill in Parcel C with waste material, <br />and therefore agree that a deed of trust for Parcel C is unnecessary. <br />1.4 As provided in Paragraph 1.5 of the Original Contract, if Greeley acquires the Option <br />Parcels, Greeley's obligation to draft, provide replacement water for, and obtain judicial <br />approval of a plan for augmentation to replace evaporative losses from up to 80 total <br />acres of exposed water surface on property owned by Flatiron pursuant to Paragraph <br />1.3.A of the Original Contract shall be reduced by 28 acres (for Parcel B) and 27 acres <br />(for Parcel C) of exposed water surface. Accordingly, at the closing for the purchase of <br />the Option Parcels, Greeley's obligation to provide replacement water under Paragraph <br />1.3.A of the Original Contract shall be limited to up to 25 total acres of exposed water <br />surface on property owned by Flatiron as of October 12, 2000 that adjoins the Poudre <br />Ponds Parcel. <br />1.5 Flatiron agrees that the payments and other obligations of Greeley provided in this <br />Agreement are adequate consideration for Flatiron's conveyance of the Option Parcels to <br />Greeley. <br />SECTION 2 <br />GIFT OF SE REMNANT PARCEL AND ACCESS STRIP <br />2.1 Separate and apart from Greeley's exercise of its options as to Parcels 13 and C as <br />effectuated herein and in no manner as an inducement to Greeley exercising its options or <br />undertaking any other obligation herein, Flatiron desires to donate to Greeley the SE <br />Remnant Parcel described on Exhibit D -1 and depicted on Exhibit A and the Access Strip <br />described on Exhibit D -2 and depicted on Exhibit A, and Greeley agrees to accept the SE <br />Remnant Parcel and Access Strip from Flatiron as further described herein. Despite <br />language as used for convenience to the contrary in this Agreement, Flatiron is not <br />obligated to convey the SE Remnant Parcel to Greeley. Notwithstanding that fact, <br />Flatiron agrees to complete certain tobligations related to the SE Remnant Parcel and <br />Access Strip as expressed in this Agreement as a condition to Greeley's acceptance of the <br />donation, and certain of Greeley's commitments under this Agreement related to the SE <br />4 <br />