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18/85/1999 83:16P <br />i Boulde~ Cleric, CO ~ <br /> <br /> PURCHASE AGREEMENT TO BUY AND SELL VACANT REAL ESTATE AND <br /> CONSERVATION EASEMENT <br /> <br /> THIS PURCHASE AGREEMENT is made and entered into thi~P4tday <br />of ~~ , 1999, by and between the City of <br />Louisville, a municipal corporation duly organized and existing <br />under and by virtue of the laws of the state of Colorado ("City"), <br />and the County of Boulder, a body corporate and politic, <br />("County"). <br /> <br /> WHERF2%S, the City is the owner of certain real property <br />consisting of 33.738 acres located adjacent to Dillon Road <br />approximately one-third of a mile west of the intersection of <br />Dillon Road and South 96th Street, which property is known as the <br />Admor West Parcel and is more particularly described on Exhibit A <br />attached hereto and incorporated herein by this reference (the <br />"Admor West Parcel"); and <br /> <br /> WHEREAS, the City is also the owner of 1.7 shares of the <br />capital stock of the Farmers Reservoir and Irrigation Company a/k/a <br />Farmers Lake (Marshall Lake Reservoir Division) and nine-twentieths <br />(9/20ths) of one share of the South Boulder and Coal Creek <br />Irrigating Ditch Company and nine-twentieths (9/20ths) of one share <br />of the South Boulder and Coal Creek 1st Extension Ditch Company <br />(collectively the "Water Rights"); and <br /> <br /> WHERF2%S, the Admor West Parcel and Water Rights <br />hereinafter referred to collectively as the "Property"; and <br /> <br />are <br /> <br /> WHEREAS, the City desires to convey to County and County <br />desires to purchase from City an undivided one-half interest in the <br />Property; and <br /> <br /> WHERF2%S, the City and County intend to use the Property for <br />open space purposes, and shall convey reciprocal conservation <br />easements to each other covering each entity's undivided one-half <br />interest in the Property. <br /> <br /> NOW, THEREFORE, for and in consideration of the promises, <br />payment, covenants, and undertakings hereinafter set forth, and <br />other good and valuable consideration, which is hereby acknowledged <br />and receipted for, the City and County agrees as follows: <br /> <br />DOLLARS <br /> <br /> Property. In consideration of the payment of ONE HUNDRED <br />($100.00) as Earnest Money, County hereby agrees to <br /> <br />1 <br /> <br /> <br />