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PURCHASE AND SALE AGREEMENT <br />THIS PURCHASE AND SALE AGREEMENT (this "Agreement ") is made as of the <br />21114 day of S -dwelt - 2013 (the "Effective Date "), by and between LOUISVILLE <br />MILL SITE, LLC, a Colorado Limited Liability Company ( "Purchaser "), and CITY OF <br />LOUISVILLE, COLORADO, a Colorado municipal corporation ( "Seller" or "City "). Purchaser <br />and Seller are collectively referred to as "the Parties." <br />RECITALS <br />A. Seller owns that certain real property described on Exhibit A attached hereto and <br />by this reference incorporated herein containing in aggregate approximately 1.069 acres <br />(approximately 46,546 square feet) of land ( "the Land "). <br />B. Purchaser desires to purchase from Seller the Land, the improvements thereon and <br />certain other interests therein. <br />C. The Parties desire that certain improvements be made to the Grain Elevator <br />structure on the Land. <br />D. The Parties desire to enter into this Agreement to set forth their mutual <br />understandings regarding the purchase and sale of the Land, the completion of improvements to <br />the Grain Elevator structure, and related matters. <br />COVENANTS <br />IN CONSIDERATION of the foregoing and the mutual agreements herein, the Parties <br />hereto agree as follows: <br />ARTICLE 1. <br />PURCHASE AND SALE <br />1.1 Purchase and Sale. Subject to the terms and conditions of this Agreement, Seller <br />agrees to sell and convey and Purchaser agrees to purchase and pay for the following described <br />property: (a) The Land together with all estates, rights, hereditaments, easements and rights of <br />way appurtenant thereto; and (b) SeIler's interest, if any, in any contracts, licenses, permits, <br />construction plans, studies, analyses, governmental approvals, development rights, utility rights <br />(including any rights to water and sewer taps) and similar rights related to the Land, whether <br />granted by governmental authorities or private persons (collectively, the "Property "). <br />1.2 Purchase Price. The purchase price ( "Purchase Price ") for the Property is Two <br />Hundred Thousand and 00/100 Dollars ($200,000.00), and shall be payable as follows: <br />1.2.1 Ten Thousand Dollars ($10,000.00) (the "Deposit ") shall be paid by <br />Purchaser to Fidelity National Title Company, 4875 Pearl East Circle, #300, Boulder, <br />Colorado 80301 (the "Title Company ") in cash or by certified or wire transfer funds <br />within three (3) business days following the Effective Date. <br />Page 1 of 24 <br />