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Property, said legal descriptions to include a certificate of <br />the acreage therein as determined by the surveyor. The survey <br />must be acceptable to the Purchasers, in their sole <br />discretion. If the survey reveals that the Property contains <br />less than 50 acres the Purchasers may elect to terminate this <br />Agreement, in which case all parties shall be released <br />herefrom, or proceed with the purchase of the Property. <br /> <br />o <br /> <br /> The purchase price for the Property shall be TWO MILLION <br />THREE HUNDRED THOUSAND ($2,300,000.00), payable in cash, <br />certified funds or Purchasers' warrant at closing. County <br />shall be responsible for fifty percent of the purchase price <br />and Louisville and Lafayette shall each be responsible for <br />twenty-five percent of the purchase price. Ail additional <br />costs to be paid by Purchasers under this Agreement shall be <br />split among the Purchasers at the same ratio as the purchase <br />price. <br /> <br />Seller agrees to convey to Purchasers, at no extra cost, any <br />quitclaim deeds requested by the Purchasers to ensure that the <br />Purchasers receive title to the Property as historically <br />described or to ensure that Purchasers receive Seller's right, <br />title and interest to any additional property adjacent to the <br />Property for which Seller may have a claim by adverse <br />possession. The purchase of the Property shall also include <br />any existing access to the Property in which Seller has any <br />ownership or claim. <br /> <br />o <br /> <br /> The purchase price for the Property shall include all <br />surface and subsurface water, if any, attached or appurtenant <br />to or used in connection with the Property and owned by <br />Seller. <br /> <br />o <br /> <br /> County has ordered a title insurance commitment on the <br />Property from First Colorado Title, to insure the Purchasers' <br />ownership of a fee simple interest in the Property, in the <br />amount of the purchase price. The title commitment shall <br />include copies of all exception documents identified in the <br />commitment. The title insurance commitment shall be on a form <br />acceptable to the Purchasers, and issued by a title insurance <br />company, acceptable to the Purchasers, which maintains an <br />office in Boulder County, and is authorized to do business in <br />the State of Colorado. Seller shall be solely responsible for <br />the cost of said title commitments and policy, which shall be <br />paid at or prior to closing. <br /> <br />o <br /> <br /> Title to the Property shall be merchantable in Seller, <br />and the title commitment shall contain no exceptions other <br />than: <br /> <br />(a) taxes and assessments for the current year, which shall <br /> <br />FING~RU PURCHASE A(~RE]~..I~ -2- <br /> <br /> <br />