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3. Seller warrants that it has good and sufficient title <br /> to the subject water rights, the right and privilege to sell the <br /> same, that there are no liens against the subject water rights, <br /> and that all current assessments are paid. <br /> 4. Purchaser agrees to pay any stock transfer fee to the <br /> Goodhue Ditch and Reservoir Company. <br /> 5. Seller covenants to assist Purchaser, its agents, <br /> representatives and assigns, without additional consideration <br /> from Purchaser, in establishing information relevant to the <br /> historic use of the subject water rights, including the execution <br /> of appropriate affidavits and/or the furnishing of testimony in <br /> appropriate administrative or judicial proceedings with respect <br /> to such water right in which Purchaser may elect to participate. <br /> Seller represents that the subject shares, along with 37.664 were <br /> historically used to irrigate approximately 50.6 acres of land <br /> described as follows: <br /> A portion of the Northwest one-quarter (NE 1/4) of Section <br /> 3, Township 1 South, Range 69 Nest of the 6th P.M. <br /> The principal use of the property has been for the production of <br /> wheat, barley and alfalfa. <br /> 6. Seller warrants to Purchaser that all required notices <br /> of any preemptive right to purchase the subject water rights have <br /> been given and the appropriate time periods have elapsed. <br /> 7. The addresses of the parties to which any notices <br /> hereunder shall be mailed or delivered are as follows: <br /> SELLR3t: PURCHASERt <br /> Heritage Homes and City of Louisville <br /> Development, Ltd. City Administrator <br /> 2115 South 94 Street 749 Main Street <br /> Broomfield, Co 80020 Louisville, Co 80027 <br /> 8. Closing shall be held at 813 Main Street, Louisville, <br /> CO at a mutually agreeable time and/or before £#t 30, 1987. <br /> -2- <br /> �a�� <br />