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est <br />5. <br />October 18, 2004 <br />Mr. Dave Shultejann <br />The 124 Estate Partners <br />10201 Brighton Road <br />Henderson, CO 80640 <br />Re: Agreements dated February 19, 2003 and May 12, 2003 <br />Dear Dave: <br />To date there are several incomplete items per the Agreements of February 19, 2003 and May 12, <br />2003 (as attached). The outstanding as we see them at this time in need of immediate attention are <br />as follows: <br />Thank You, <br />T.C. Oxley <br />Henderson Water -ski Club <br />TCOIdr <br />xc: <br />imp -% <br />1. Re- establish our southern property line with a new fence to ensure security of our lake. ,iX <br />2. At the southeast corner of the lake, please confirm that the top of the slope towards the ski <br />lake is at least 10' north of the property boundary and maintains a minimum of 2:1 <br />(horizontal to vertical) slope at the infill area. Also, please complete the rip rap, 12" of <br />topsoil and re- seeding per the agreement. <br />PI N, a 41 low ►e. A P <br />3. At the Fulton Ditch, reconstruct the head gate and concrets `.heditch wh re it is now exposed. <br />Complete the drudging of the 5 acres at the southwest portion of the ski lake to achieve a <br />. water depth in that area of at least 7 -1I2' below the benchmark as established by Ski Club and <br />124 Estate Partners in the Agreement of December 2001. <br />Provide paperwork for the water rights and ground water well and access to the water that <br />the well yields as described in the Purchase and Sale Agreement dated February 19, 2003. <br />Finish the disturbed slopes at the southeast corner of the lake with top soil and seed for <br />stabilization and aesthetic purposes. <br />7. Propose a monetary value for the use of our Fulton Ditch water by the 124 Estate Partners. <br />You have been using this water and we feel we should be reimbursed fairly for the use of <br />(17) Fulton Ditch shares. <br />We request you provide a schedule in writing to address each of the incomplete items stated above <br />within two weeks of the date of this letter or Monday, November 1, 2004. Please return your <br />written response to: T.C. Oxley, 2300 S. Garfield, Denver, CO 80210. We request your schedule <br />accommodate completing these items prior to April 2005 so it will not interfere with the 2005 water <br />ski season. <br />7. L4 "Or <br />°Op?. <br />-%-)" p AZz.ii L./..r a ' pe a>/ <br />