|
i
<br />it J."; ti 0 .!1i.,3
<br />Y
<br />1J(lOK )$YA3;f S46
<br />FREE AND CLEAR of all liens and encumbrances except the lion of general taxes
<br />for 1978;payable in 1979.
<br />(tho 'Property") to Peabody Coal Company (`Peabody'), and
<br />WHEREAS, the Rices, in the Escrow Purchase Agreement, reserved to themselves the right
<br />to repurchase all or a portion of Property, at their option, In the event that Peabody ever sold or
<br />conveyed the Property, or to lease all or a portion of the Property, at their option, if Peabody decided
<br />to lease the Property, and
<br />WHEREAS, by a Memorandum Agreement, recorded on August 1, 1978, in Book 6 at
<br />Page 7. (R ecep*, lot , No. 4719311 ), 1Montrv:io Lvuiliy, voterudo, u l?ica�.. and Pvt pro lr
<br />notice of such :tale and option, and
<br />WI IEREAS, by an Addendum to Escrow Purchase Agreement dated February 4 and 10,
<br />1992, Peabody and the Rices agreed that Peabody could sell the Property to an affiliate of Western
<br />Fuels Association, Inc., on condition that the property conveyed would be subject to the terms and
<br />conditions of the .tune 1978 Agreement, including the right of first refusal contained in that
<br />Agreement; the 1992 Addendum Agreement was recorded at Book 829, 1'age 814 by the Recorder
<br />,.-. of Deeds in Montrose County, Colorado; and
<br />WHEREAS, Western Fuels Colorado, LLC, an affiliate of Western Fuels, having succeeded
<br />to Poanbodys rights and ownership in the Property under the 197a Agreement with the Rices now
<br />wishes to trangfor and convey the Property to a third party, namety the Garvey family interests. and
<br />has asked the Rices to release their option and right of first refusal to repurchase or to lease the
<br />Property,
<br />NOW, THEREFORE, in consideration of the premises and for value received, the receipt of
<br />which Is hereby acknowledged, the undersigned, being the current owners of the option and right
<br />to repurchase and to lease the Property, hereby remise, release and forever quitclaim unto Western
<br />Fuels - Colorado, LLC, and its successors and assigns forever, all their right, title: and Interest in the
<br />option and right of first refusal to repurchase or to 1ea!;e the Property, as contained in sections 8 and
<br />11 of the June 1978 Agreement between the I lices and Peabody. Ttie Dices specificalty retain and
<br />reserve the fiighits to receive royalties pursuant to section 3 of the Juno 1978 Agreement, as further
<br />reserved by section 3 of the February 1992 Addendum to the Escrow Purcha_so Agreement.
<br />Ihis release shall be recorded with the Reorder of Deeds in Montrose County, Colorado.
<br />r,..r
<br />Y
<br />+fir
<br />
|