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BOWES PURCHASE AGREEMENT, DIVISION OF LAND <br /> • <br /> THIS AGREEMENT, made and entered into this 01/4:11/4� day of <br /> INJVI , 2000, by and between the City of Louisville, a municipal <br /> corporation duly organized and existing under and by virtue of the <br /> laws of the State of Colorado, and the County of Boulder, a body <br /> corporate and politic, hereinafter referred to individually as <br /> "City" and "County" , respectively, or collectively referred to as <br /> "Purchasers, " and Bowes Properties Limited Partnership, a Colorado <br /> limited partnership-', hereinafter referred to as "Seller. " <br /> RECITALS <br /> A. The Seller owns the certain real property within the <br /> County of Boulder, State of Colorado, legally described in Exhibit <br /> A attached hereto and by this reference made, a part of this <br /> Agreement and hereinafter referred to as the "Property. " The <br /> Purchasers desire to purchase a ,portion of the Property. <br /> B. The Property consists of approximately 80 acres of land. <br /> The Purchasers desire to jointly purchase as tenants in common <br /> approximately 66 acres of the Property (hereinafter referred to as <br /> - "Parcel 1" and legally described on Exhibit. A-1 attached hereto and <br /> incorporated herein by this reference) . The City' desires to <br /> purchase approximately 9 acres of the Property (hereinafter <br /> referred to as "Parcel 2 " and legally described on Exhibit A-2 <br /> attached hereto and incorporated herein by this reference) . Parcel <br /> 2 is to be acquired by the City for right-of-way purposes and not <br /> as open space. Parcel 1 and Parcel 2 shall collectively be <br /> referred to as "the Parcels . " The Seller shall retain a fee simple <br /> interest in the remaining five acres of the Property which, subject <br /> to the provisions and conditions of- Paragraph 2 of this Agreement, <br /> shall be divided into two separate legal lots upon which the <br /> Purchasers shall be granted conservation easements (hereinafter <br /> referred' to individually as "Lot A" and "Lot B" , and collectively <br /> as the "Lots" and legally described on Exhibit A-3 attached hereto <br /> and incorporated herein by this reference. ) <br /> C . The Purchasers also desire to purchase one share of the <br /> capital stock of the South Boulder and Coal Creek Irrigating Ditch <br /> Company, represented by certificate no. 154; one share of the <br /> capital stock of the South Boulder and Coal Creek First Extension <br /> Ditch Company, represented by certificate no. 81; and two shares of <br /> the capital stock of Farmers Reservoir and Irrigation Company, <br /> BOWES PURCHASE AGREEMENT, <br /> DIVISION OF LAND -1- <br />