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(ii) the recording in the Boulder County Clerk and <br /> Recorder' s Office of the deed conveying the Parcels <br /> from the Seller to the Purchasers as provided in <br /> this Agreement; and, <br /> (iii) the recording in the Boulder County Clerk and <br /> Recorder' s Office of the Conservation Easements <br /> from the Seller to the Purchasers over the Lots; <br /> and, <br /> (iv) the receipt by the Purchasers of stock certificates <br /> indicating the Purchasers ' ownership of the Water <br /> Rights. <br /> If the deeds and documents described above are not recorded <br /> and/or received by the Purchasers as required above, no division of <br /> the Property shall have been approved by the Board of County <br /> Commissioners, the Lots shall not be legally divided parcels, nor <br /> shall they be legal building lots, and no development rights shall <br /> attach to the Lots (except such rights as already exist under the <br /> Boulder County Land Use Regulations) . Upon receipt and recording <br /> of the instruments described above, Purchasers shall record a <br /> notice indicating that these requirements have been satisfied. <br /> PURCHASE PRICE AND TITLE <br /> 3. Based on the sale of 75 acres, the purchase price for a <br /> fee simple interest in the Parcels together with the Water <br /> Rights shall be TWO MILLION TWENTY-FIVE THOUSAND DOLLARS <br /> ($2, 025, 000 . 00) , payable in cash, certified funds or <br /> Purchasers' warrant at closing. If the acreage for the <br /> Parcels, as determined by the survey set forth above, is more <br /> or less than 75 acres, then the purchase price for the Parcels <br /> shall be adjusted up or down, as the case may be, at the rate <br /> of $27, 000 . 00 per acre. The Earnest Money shall be applied to <br /> the purchase price for Parcel 1 . The County shall pay the <br /> Earnest Money, along with the costs of the Phase I <br /> Environmental Audit and all other pre-closing costs that are <br /> allocated to Purchasers under this Agreement . The City shall <br /> reimburse the County at Closing for one-half of these costs, <br /> except that the cost of survey shall be solely the County' s <br /> responsibility. <br /> Additionally, Seller agrees to convey to Purchasers, at no <br /> extra cost, any quitclaim deeds requested by the Purchasers to <br /> ensure that the Purchasers receive title to the Parcels as <br /> historically described or to ensure that Purchasers receive <br /> BOWES PURCHASE AGREEMENT, <br /> DIVISION OF LAND -5- <br />