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1 <br />2. <br />9 <br />TABLE OF CONTENTS <br />PURCHASE AND SALE ........................................... <br />1.1. Purchase and Sale; Description of Property. . <br />PURCHASE PRICE ...................... <br />INSPECTION .................... <br />4. APPROVAL BY BOARD OF COMMISSIONSERS................ <br />5. <br />TITLE <br />AND SURVEY................................................................................................................ <br />3 <br />5.1. <br />Permitted Title Exceptions.............................................................................................. <br />4 <br />5.2. <br />Title Commitment........................................................................................................... <br />4 <br />5.3. <br />Review of Title Commitment.......................................................................................... <br />4 <br />5.4. <br />Seller's Right to Cure; Purchaser's Right to Terminate ................................................... <br />5 <br />5.5. <br />Title Policy...................................................................................................................... <br />6 <br />5.6. <br />Survey..............................................................................................................................6 <br />6. <br />CLOSING.....................................................................................................................................7 <br />6.1. <br />Date and Place of Closing............................................................................................... <br />7 <br />6.2. <br />Items to be Executed and Delivered by Seller at Closing. . ............................................. <br />8 <br />6.3. <br />Items to be Executed and Delivered by Purchaser at Closing ......................................... <br />9 <br />6.4. <br />Payment of Purchase Price............................................................................................ <br />10 <br />6.5. <br />Postponement of Closing Date...................................................................................... <br />11 <br />6.6. <br />Costs of Closing............................................................................................................ <br />11 <br />6.7. <br />Prorations and Adjustments at Closing......................................................................... <br />11 <br />7. <br />REPRESENTATIONS AND WARRANTIES.......................................................................... <br />13 <br />7.1. <br />Seller's Representations and Warranties........................................................................ <br />13 <br />7.2. <br />Cattle Dip....................................................................................................................... <br />16 <br />7.3. <br />Seller's Current Actual Knowledge............................................................................... <br />16 <br />7.4. <br />Matters Known to Purchaser......................................................................................... <br />17 <br />7.5. <br />Purchaser's Representations and Warranties................................................................. <br />19 <br />7.6. <br />Survival of Representations and Warranties.................................................................. <br />21 <br />7.7. <br />Limitation on Claims Against Seller............................................................................. <br />21 <br />7.8. <br />Expiration......................................................................................................................22 <br />7.9. <br />Definition of Claim and Claim Notice.......................................................................... <br />23 <br />7.10. <br />Sale"AS-IS....................................................................................................................24 <br />8. <br />CLOSING CONDITIONS......................................................................................................... <br />26 <br />8.1. <br />Purchaser's Conditions................................................................................................... <br />27 <br />8.2. <br />Seller's Conditions......................................................................................................... <br />27 <br />8.3. <br />Rights Upon Failure of a Condition.............................................................................. <br />28 <br />8.4. <br />Waiver of Conditions..................................................................................................... <br />28 <br />January 8, 2008 <br />1 <br />