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REAL ESTATE SALE CONTRACT
<br /> THIS AGREEMENT made this /Q_ day of March, 1994 , between
<br /> MID-CONTINENT RESOURCES, INC. , a Delaware corporation, whose
<br /> address for purposes of this Contract is P. 0. Box 790 , 818
<br /> Colorado Avenue, Glenwood Springs, CO 81602, "Seller" , and DALE
<br /> EUBANK, 731 East Durant Avenue, Aspen, CO 81611 , "Purchaser" ,
<br /> W I T N E S S E T H:
<br /> WHEREAS, Seller is Debtor in Possession in Chapter 11
<br /> Bankruptcy proceedings pending in United States Bankruptcy Court,
<br /> Denver, Colorado, and is directed to proceed with liquidation of
<br /> assets including land described on Exhibit "A" attached hereto
<br /> referred to as "Rock Dust Plant Tract" ,
<br /> WHEREAS, a sale is pending to a third party of machinery,
<br /> equipment, and buildings, down to foundations, to be removed as
<br /> hereinafter provided,
<br /> WHEREAS, the parties contemplate Seller reserving a non-
<br /> exclusive easement in a location approximately as shown upon
<br /> Exhibit "B" attached hereto;
<br /> WHEREAS, the parties wish to set forth in writing their
<br /> agreement regarding the sale and purchase of real property;
<br /> THEREFORE, IN CONSIDERATION OF THE PREMISES and the mutual
<br /> covenants herein contained, Seller agrees to sell and Purchaser
<br /> agrees to buy the Rock Dust Plant Tract described upon Exhibit "A"
<br /> attached hereto and by reference incorporated herein for a price of
<br /> One Hundred Forty Seven Thousand Six Hundred Dollars ($147,600 . 00)
<br /> to be paid as hereinafter provided, subject to the following terms
<br /> and conditions:
<br /> I . The Rock Dust Plant Tract is described upon Exhibit "A" ,
<br /> incorporated herein, and there shall be included all easements ,
<br /> appurtenances, and water rights, together with the electrical power
<br /> apparatus , the existing well, underground plumbing and pump system.
<br /> Seller shall provide the Purchaser within ten (10) days of the date
<br /> of this contract with copies of all documents .in the Seller's
<br /> possession pertaining to the well including the well permit. All
<br /> water rights appurtenant to the property, including those assoc;at-
<br /> • ed with the well, shall be conveyed by quit claim deed.
<br /> 2. The buildings, nchinery, conveyors, metal structures ,
<br /> storage tanks, crushed limestone and magnetite, and personal
<br /> property located on the Rock Dust Plant Tract are excluded from
<br /> this sale and shall be removed az no cost to Purchaser as stated in
<br /> paragraphs 12, 13 and 14.
<br /> 3 . Stewart Title of Glenwood Springs, Inc. , 801 - Colorado
<br /> Avenue, Glenwood Springs (Stewart Title) , is des=g^ated Closing
<br /> EXHIBIT C
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