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Boulder County, CO 03503117 3 of 7 FIRST AMENDMENT TO GRANT OF CONSERVATION EASEMENT IN GROSS (REX THEATRE - 817 MAIN STREET) THIS FIRST AMENDMENT TO GRANT OF CONSERVATION EMENT IN GROSS ( the "First Amendment") is made and entered into this /" day of _015 by and between THE CITY OF LOUISVILLE, a Colorado municipal corporation (the "City ") and WATERLOO ICEHOUSE, INC, a Colorado limited liability company, (the "Owner"). RECITALS WHEREAS, the City and BLT Enterprises, LLC, entered into that certain Grant of Conservation Easement in Gross dated May 23, 2011 ( "Easement ") and recorded on July 1, 2011 in the records of the Clerk and Recorder of Boulder County, Colorado at Reception No. 03156788; and 'WHEREAS, the Easement granted and conveyed to the City in perpetuity a conservation easement in gross on the property located at 817 Main Street, Louisville, Colorado and legally described as the South 5 Feet of Lot 10 & the North 20 Feet of Lot 11, Block 5, Town of Louisville, County of Boulder, State of Colorado (the "Property"); and WHEREAS, the Easement was granted for the purpose of protecting certain Historical Elements of the Structure, which elements were described and depicted in Exhibits B and C t� the Easement, and in exchange, the City agreed to expend monies from its Historic Preservation Fund to preserve portions of the Structure; and WHEREAS, Section 7.1 of the Easement states that the Easement "shall be binding upon Owner and its successors in interest, lessees, and assigns, and shall constitute as a servitude running in perpetuity with the Property;" and WHEREAS, Owner has purchased the Property and is a successor in interest to BLT Enterprises, LLC; and WHEREAS, Owner desires to make changes to the Structure's protected Historic Elements; and WHEREAS, the City finds the proposed changes to the protected Historic Elements will enhance the overall character of the Structure and Main Street; and WHEREAS, the City and Owner, by this instrument, desire to amend certain terms of the Easement pertaining to the Historical Elements, and this First Amendment shall serve as City Consent pursuant to Section 2.1 of the Easement. NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: