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JHN-.i1-1994 16:44 ROBERT DELANEY 303 945 2303 P.03 <br /> FUBANK <br /> & ISHOP <br /> CERTff[ED rueuC A=U?irMM <br /> 731 FAST DURANT AVENUE,UNTO 7A <br /> January 28, 1994 Ate"•COI.ORADO 81611 <br /> (303)9254M FAX(303)925-50 <br /> 30 vNIAGE LANE,CARBONDALE CO 81613 <br /> Bob Delaney (30)9GiM FAX=)96}9601 <br /> Delaney & Balcomb <br /> 818 Colorado Avenue <br /> Glenwood Springs, Co 91601 <br /> Dear Bob: <br /> This letter is to set forth my offer to purchase the 17.6 <br /> acres on Road 100 Garfield County, which I will refer to as the <br /> "Limestone Plant Site". <br /> It is my desire that this letter will be followed by a receipt <br /> and option contract, should you obtain the necessary approvals from <br /> the required parties. <br /> The corners of the property need to be surveyed and f lagged so <br /> that I can visually locate the property. <br /> I will purchase the property for $147,600.00 cash at closing <br /> with a $14,760.00 earnest money deposit. Closing would be 90 days <br /> from the execution of the receipt and option contract, or sooner by <br /> mutual agreement. <br /> The deed could be a special warranty deed with title insurance <br /> as long as the title is considered proper per my attorneys review. <br /> There can be a provision for a common road thru the property <br /> to service this property and other parcels owned by Mid-Continent. <br /> I assume we would need to locate this easement on the property <br /> prior to closing. <br /> We can provide for the removal of the existing structure (not <br /> including the concrete pad) within a 6 month period after closing <br /> and a $40,000.00 escrow deposit of the purchase price would be held <br /> until removal and cleanup of the site were complete. <br /> I would like a signed copy of the license agreement from the <br /> Denver Rio Grand Railroad Company for review by my attorney. <br /> Should you have any questions please call me. <br /> Si rely, <br /> TOTAL P.03 <br />