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SALE AGREEMENT <br /> THIS AGREEMENT, made and entered into this day of <br /> April, 1979, by and between Norm Fleet, party of the first <br /> part, hereinafter referred to as "Seller" and the City of <br /> Louisville, party of the second part, a Colorado municipal corp- <br /> oration, hereinafter referred to as "Purchaser•, <br /> WITNESSET8 s <br /> WHEREAS, Seller is tho owner of ninety-five (95) shares of the <br /> capital stock of the Leyner Cottonwood Consolidated Ditch Co. <br /> and Fifteen and four-tenths (15.4) shares of capital stock in the <br /> Marshall Lake Division of the Farmers Reservoir and Irrigation <br /> Company, both mutual ditch companies organized under the laws of <br /> the State of Colorado; and <br /> WHEREAS, each of the shares outstanding in both companies <br /> represents a proportionate interest in the water rights priorities <br /> decreed in the name of said companies; and <br /> WHEREAS, Seller desires to sell said shares; and <br /> WHEREAS, Purchaser desires to purchase said shares for the <br /> purpose of using the water derived therefrom in its municipal water <br /> utility system; <br /> NoW, THEREFORE, for and in consideration of the premises and <br /> the mutual promises hereinafter contained, the parties hereto agree <br /> as follows: <br /> 1. Seller agrees to sell and Purchaser agrees to purchase, <br /> free and clear of liens, taxes, assessments, and encumbrances and <br /> subject to the conditions hereinafter set forth, ninety-five (95) <br /> shares of stock in the Leyner Cottonwood Consolidated Ditch Co. , <br /> said water right being represented by stock certificate No. , <br /> dated , and fifteen and four-tenths (15.4) <br /> shares of stock in the Marshall Lake division of the Farmers <br /> Reservoir and Irrigation Company, said water right being represented <br /> by stock certificate No. , dated • <br />