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';111111111111111111111111111111111111111111111111111-10499 03/28/2001 11:S2A B182 P802 WD ~ 10' 4 R 21.00 D 394.3! H 0.00 JACKSON COUNTY CO GENERAL WARRANTY DEED THS GENERAL WARRANTY DEED s made ths 2</ day of March 2006 between STARK RANCH LP Grantor and ROSLYN RANCH LLC a Colorado lmted lablty company Grantee whose address s clo Don Baley 1490 Lafayette Street Sute 404 Denver Colorado 80218. WTNESS that the Grantor for and n consderaton of the sum of Three Mllon Nne Hundred Forty Three Thousand Fve Hundred Dollars ($3943500.00) and other good and valuable consderaton the recept and suffcency of whch are hereby acknowledged has granted barganed sold and conveyed and by these presents does grant bargan sell convey and confrm unto the Grantee and ts successors and assgns forever all the real property together wth all mprovements f any stuate lyng and beng n the County of Jackson State of Colorado more partcularly descrbed on Exhbt A attached hereto and by ths reference made part hereof together wth any and all mnerals and mneral rghts. TOGETHER WTH all and sngular the heredtaments and appurtenances thereto belongng or n anywse appertanng and the reverson and reversons remander and remanders rents ssues and profts thereof and all the estate rght ttle nterest clam and demand whatsoever of the Grantor ether n law or equty of n and to the above barganed premses wth the heredtaments and appurtenances; TO HAVE AND TO HOLD the sad premses above barganed and descrbed wth the appurtenances unto the Grantee ts successors and assgns forever. And the Grantor for tself ts successors and assgns does covenant grant bargan and agree to and wth the Grantee ts successors and assgns that at the tme of the ensealng and delvery of these presents t s well sezed of the premses above conveyed has good sure perfect absolute and ndefeasble estate of nhertance n law n fee smple and has good rght full power and lawful authorty to grant bargan sell and convey the same n manner and form as aforesad and that the same are free and clear from all former and other grants bargans sales lens taxes assessments encumbrances and restrctons of whatever knd or nature soever except the malters set forth on Exhbt B attached hereto and by ths reference made part hereof. The Grantor shau and wll WARRA..l\T AND FOREVER DEFEND the abovebarganed premses n the quet and peaceable possesson of tle Grantee ts successors and assgns aganst all and every person or persons lawfully clamng the whole or any part thereof. above. N WTNESS WHEREOF the Grantor has executed ths deed on the date set forth ST ARJ'-'''4l'' By: By: 34698

llr llj tll 11111 1111/11 1111 1111 1111111 1111111111111111 904~~03/28/2006 11:!2A 8182 P602 ND _ 2 of 4 R 21.00 D 394.3! N 0.00 JACKSON COUNTY CO STATE OF TEXAS COUNr:=O~ ) )8S. ) The toregong nstrument was acknowledged before me ths"\\~ay of March 2006 by Patrck Nugent manager of Leupold Captal LLC a Texas lmted lablty company general partner ofslark Ranch L.P. a Texas bmlled partnershp. """'" ""=d d omo'"". ~\ ALLSON A. MCCOOK Notary PUblc State of Texas My commsson expres: M ommlsson E)(.pl'tlS Aprl 1" 2006 "~----' 34(;.<:J8

~JJl"1 1111111/111 1111111111111111111 lu /111 804~ 03/28/2B0 11:!2A 8182 PSB2 NO 3 of 4 R 21.00 D 384.35 N 0.00 JACKSON COUNTY CO EXHBT A LEGAL DESCRPTON RJOSL YN RANCH WEST OF HWY 125 PARCELC A parcel ofland lyng w\hn TOWNSHP 5 NORTH RANGE 78 WEST 6TH PM JACKSON COUNTY CPLORADO more partcnlarly descrbed as follows: Sec. 3 - SW1/4 SWl/4SE/4 Sec. 4 - SE1/4 ' Sec. 9 - NE14NE1/4 Sec. 10 - E12 E2W:q NW1/4NW1/4 SW14SW/4 Sec. 11 - SW14 : Sec. 15 - NE14 W1/2SE1/4 El2NW4 E2E1/2SW14 NW14NE14SWl/4 Sec. 22 - NE 14NE 114NW 114 NJl2NW/4NEll4! EXCEPT all that porton of the above descrpton lyng east of the followng lne: Begnnng at a pont on the north lne of the southwest quarter of Secton 3 beng on the westerly lne of that parcf1 descrbed n Book 49 Page 102 of the Jackson County Records whence the we~t quarter comer of sad Secton 3 bears North 89 38'55" West a dstance 0[901.76 feet; theoce along the westerly lne of sad parcel South 35 56'14" East a dstance of 2899}6 feet to the southwest comer of sad parcel; thence North 54 03'46" East along th1 southerly sde of sad parcel a dstance ofloo.oo feet to a pont on the centerlne of Colorado State Hghway 125 thence contnung along sad centerlne South 35 57'28" East a dstance of2272.37 feet to a pont on the northerly lne of that parcel descrbed n BOO~ 44 Page 243 of the Jackson County Records thence followng the lmts of sad Book 4~ Page 243 South 54 03'00" West a dstance of 1 01.09 feet; thence South 35 56'51" East a dstance of 4682.64 feet to a pont on the South lne of sad Secton whence the southwest comer of sad Secton 11 bears South 87 57'34" West a dstance of1322.15 feet Total area Jyng west of the State Hghway beng 1211.055 acres more or less. 34698

EXHBTB. Any waten rghts or clams or ttle to water dtches and reservors n on across or under the land. 2. The rght pf a propretor of a ven or lode to extract or remove hs ore should the same be found to penetrate or ntersect the premses thereby granted as reserved n Unted Statesl patents recorded n Book Al at Page 208 Book A8 at Page 335 Book A9 at Pages 79 40~ and 403 and Book A10 at Pages 210 and 211 and any and au assgnments thereof or rlterests theren. 3. Rght of{ay for dtches and canals constructed by the authorty of the ~~~~~A.~t~~e;~:: ~e;;~;to~ ~;~~~:~e;r~~~t~~c~~~e!~ :::~ ;/0 a~t;:;e;~'o and 211. 4. An undvfded Y2 nterest n all ol gas and other mnerals as reserved by The Hlls Land and Cattle Company recorded on November 22 1961 n Book 75 at Page 156 and thereafter Mn9ral Deed recorded September 6 1962 n Book 76 at Page 313 and any and all assgnments or conveyances thereof or nterests theren. 5. StPUlatL and Agreement as fled wth the Dstrct Court County of Jackson State ofcoloracto Case No. 81CV7 and the terms and provsons set forth theren recorded n BOo* 147 at Page SS and as evdenced by Memorandum of Agreement recorded n Book 148 at Page 549. 6. Terms cmdtons provsons agreements and oblgatons specfed under the Agreement for Leas~ of Water Rghts by and between Nelda C. Stark Lessor and Howard l. DeLne and rl ary Kay DeLne Lessees recorded on February 23 1983 n Book 149 at Page 86. 7. An easement for ngress and egress and ncdental purposes granted to Wllam B. Ogburn and Mna J. Ogburn by the nstrument recorded on March 8 1990 n Book 166 at Page 174. 8. Any los1 or damage caused by the use or mantenance of Colorado State Hghway No. 125 and '!S shown on Property Boundary Survey prepared by North Park Engneerng & Consultng nc. dated January 30 2006 Job No. 05-995. 34698

[ ~.fj; 1111111111 [ [ [11111111111111111: ] 1111 B0Y'! 03/28/202111 11 117A 11112 P23 SOA 1 of 2 R 11.00 D 0.2121 N 21.210 JACKSON COUNTY CO STATRMRNT OF AUTHORTY (Secton 38-30-172 c.r.s.) Pursuaut to C.R.S. 38-30-172 the undersgned Rockng JT nvestments LLC beng a member of Roslyn Ranch LLC a Colorado lmted lablty company ("Company") hereby certfes the followng:. The name of the Company s: Roslyn Ranch LLC. 2. The Company s a lmted lablty company formed and exstng under the laws of the State of Colorado. 3. The malng ~ddress of the Company s as follows: 1490 Lafayette Street Sute 404 Denver Colorado 80218 4. The name and poston of the person authorzed to execute wth no lmtatons any and all nstruments conveyng encumberng or otherwse affectng ttle to the real property located n Jackson County Coloradd as more partcularly descrbed on Exhbt A attached hereto s Rck A Pederson manager ofrock~g JT nvestments LLC. member of Roslyn Ranch LLC. Executed ths ~ day of March 2006. 'D STATE OF COLORADO ) r ) )ss. COUNTY OF ~:l\\f ROSLYN RANCH LLC a Colorado lmted! lablty company By: Rockng JT nvestments LLC a Colorado lmted lab~pany member By: L2:::)~ -- ~_- Rck A. Pederson manager The foregong nstrument was acknowledged before me ths 1(1 '1llday of March 2006 by Rck A. Pederson as manager OfRockng JT nvestments LLC a lmted lablty company as member of Roslyn Ranch LLC a Colorado lmted lablty company on bebalf of the lmted lablty company. Wtness my hand and offcal seal ;~J(LUry t!(~ r 34793

"~Jllllllllllllllllllllnlllllllllllllllllllll1l1ll1ll 90~ 03/28/20011 11:!l7A 11112 Plla3 SOA 2 of :2 R 11.00 D 0.00 N 0.00 JACKSON COUNTY CO LEGAL DESCR!PTON ROSr: YN RANCH WEST OF HWY 125 PARCEL C A parcel ofland lyng wthn TOWNSHP 5 NORTH RANGE 78 WEST 6TH PM JACKSON COUNTY COLORADO more partcularly descrbed as follows: Sec. 3 - SW14 SW1!4SE4 Sec. 4 - SE14 Sec. 9 - NElf4NE114 Sec. 10 - E12 E!l2W2 NW1/4NW1/4 SW/4SW14 Sec. - SW/4 Sec. 15 - NEl/4 W12SE14 E2NW14 E12El/2SW1/4 NWl/4NEl4SW14 Sec. 22 - NE14NE1/4NW1!4 N12NW14NE14 EXCEPT all that porton of the above descrpton lyng east of the followng lne: Begnnng at a pont on the north lne of the southwest quarter of Secton 3 beng on the westerly lne of that parcel descrbed n Book 49 Page 102 of the Jackson County Records whence the west quarter comer of sad S~cton 3 bears North 89 38'55" West a dstance of 901.76 feet; thence along the westerly lne of sad parcel South 35 56'14" East a dstance of2899.46 feet to the southwest comer of sad parcel; thence North 54 03'46" East along the southerly sde of sad parcel a dstance of 100.00 f<let to a pont on the centerlne of Colorado State Hghway 125 thence contnung along sad centerlne South 35 57'28" East a dstance of2272.37 feet to a pont on the northerly lne o fthat parcel descrbed n Book 44. Page 243 of the Jackson County Records thence followng the lmts of sad Book 44 Page 243 South 54 03'00" West a dstance of 101_09 feet; thence South35 56'51" East a dstance of 4682.64 feet to a pont on the South lne of sad Secton 11 whente the southwest comer of sad Secton bears South 87 57'34" West a dstance of 1322.15 feet. Total area lyng west ofthe State Hghway beng 1211.055 acres more or less_!

1hlllllllllll1l1lllllllllllll11l1lllllllllll.~11 90$01 03/28/2006 12:02P B182 PS04 BARGAN 1 of 4 R 2100 D 0.00 N 0.00 JACKSON COUNTY CO BARGAN AND SALE DEED KNOW ALL MEN BY THESE PRESENTS THAT STARK RANCH LP a Texas lmted partnershp ("Grantor") for the consderaton often and 0011 00 dol1ars ($10.00) n hand pad hereby sells conveys and qut clams to ROSLYN RANCH LLC a Colorado lmted lablty company ("Grantee") whose address s 1490 Lafayette Street Sute 404 Denver Colorado 80218 all of Grantor's!rght ttle and nterest n and to all water and water rghts dtch and dtch rghts sprng and sprnk rghts reservor and reservor rghts well and groundwater rghts decreed or undecreed assocated wth or hstorcally used n connecton wth the real property descrbed on Exhbt A ~ttached hereto and by ths reference made part hereof ncludng but not lmted to the vater rghts lsted on Exhbt B attached hereto. TOGETHER wth all a~~ sngular the heredtaments and appurtenances thereto belongng or n anyway appertapng and the reverson and reversons remander and remanders rents ssues and prots thereof and all the estate rght ttle nterest clam and demand whatsoever o[(he Grant.)r ether n law or eqnty of n and to the above premses wth the heredtaments and appurtenalces and together wth all after-acqured ttle of Grantor theren and thereto. TO HAVE AND TO HOLD the sad premses above barganed and descrbed wth the appurtenances unto the Grantee1 ts successors and assgns forever. N WTNESS WHEREOF Grantor bas executed ths deed as ofmarch~2006. ST ATE OF TEXAS } ----------... ) ~s. COUNTY OF ~ l. The foregong nstrumen was acknowledged before me ths'\\~day of March 2006 by Patrck Nugent manager of Leupold Captal LLC a Texas lmted lablty company general partner of Stark Ranch L.P. a Texas r. d partnershp on behalf of the partnershp. WTNESS my hand and pffcan<:al..-;"'-"'''''''" 34821 My commsson expres: ALLSON A MCCOOK Notafy U e te of Texas My COmmsson Expres A~rlll. 2jj6

~wl; 11111111111111111111111111111111111111" njjllll 10!11J1 1113/28/21111111 12:1112P B182 P04 BARGAEN 2 of 4 R 21.1110 D 0.0111 N 0.00 JACKSON COUNTY CO EXHBlTA LEGAL DESCRPTONS ROSLYN RANCH EAST OF HWY 125 PARCEL A: A parcel ofland lyng wthn SW14 of Secton 3 TOWNSHP 5 NORTH RANGE 78 WEST 6TH PM JACKSON COUNTY: COLORADO more partcularly descrbed as follows: Begnnng at a pont on the north: lne of the southwest quarter of Secton 3 beng a pont on the easterly lne of that parce! d~scrred n Book 49 Page 102 of the Jackson County Records whence the west quarter co"$er o;f sad Secton 3 bears North 89 0 38'55" West a dstance of 1104.48 feet; thence along the certerlne of sad Hghway South 35 56'14" East a dstance of 2614.76 feet to a pont on the e~t lne of the southwest quarter of Secton 3; thence along the east lne of the southwest quarte~ of Secton 3 North 00 0 01 '18" East a dstance 0[2107.65 feet to the center of Secton 3; thenc~ along the north lne of the southwest quarter of Secton 3 North 89 38'55" West a dstanc~ of 1535.42 feet to the pont of Begnnng. Contanng 37.145 Acres more dr less. PARCELB: A parcel ofland lyng wthn Sectons 10 and 11 of TOWNSHP 5 NORTH RANGE 78 WEST 6TH PM JACKSON COUNTy1 COLORADO more partcularly descrbed as follows: Begnnng at a pont on the nort~ lne of the northeast quarter of sad Secton 10 beng at the ntersecton wth the centerlne of' State Hghway 125 whence the north quarter comer of sad. Secton 10 bears North 89 0 30'181' West a dstance of276.29 feet; thence along sad north lne of Secton 10 South 89 30'18" East a dstance of2361.30 feet to the northeast comer of Secton 10; thence along the east lne of Secton 10 South 00 24'35" East a dstance of2655.16 feet to the quarter comer common to Sebtons 10 and 11; thence along the north lne of the southwest quarter of Secton 11 North 88 57'09" East a dstance of2670.38 feet to the center of Secton 11; thence along the east lne of t he southwest quarter of Secton 11 South 00 25'52" East a dstance of2634.40 feet to the s9uth quarter comer of Secton 11; thence along the south lne of Secton 11 South 87 57'34" West a dstance of 1104.33 feet to the southeast comer of that parcel descrbed n Book 44 pa~e 243 of the Jackson County Records; thence followng sad parcel North 35 57'00" West a?stance of 2272.73 feet; thence leavng Parcel descrbed n Book 44 Page 243 North 54003100" East a dstance of200.00 feet; thence North 35 57'00" West a dstance of5o.00 f~et; hence North 43 58'24" West a dstance of250.76 feet; thence South 54 03'00" West a ds(anc~ of 165.00 feet to a pont on the east lne of that parcel descrbed n Book 44 Page 243 <hfthe Jackson County Records; thence followng sad parcel once agan North 35 57'00" Wdt a dstance of1786.18 feet to the northeast comer of sad parcel descrbed n Book 44 Pa~e 243; thence South 54 03'00" West a dstance of98.91 feet to

the centerlne of Hghway 125; thence along sad centerlne North 35 57'28" West a dstance of 1802.09 feet to the pont ofbe~nnng. Contanng 202.856 Acres mare or less. LEGAL DESCRPTON ROS~ YN RANCH WEST OF HWY 125 PARCELC A parcel of land lyng wthn TOWNSHP 5 NORTH RANGE 78 WEST 6TH PM JACKSON COUNTY COLORADO more partcularly descrbed as follows: Sec. 3 - SW14 SWl4SE14 Sec. 4 - SE14 Sec. 9 - NE 14NE 14 Sec. 10 - E1/2 E12W12 NW14NW4 SW1/4SWl/4 Sec. 11 - SW14 Sec. 15 - NE14 W12SE1/4 E112NW1/4 E12Elf2SW1/4 NW14NE14SW14 Sec. 22 - NE/4NE14NW4 N12NW14NEl4 EXCEPT all that porton of the above descrpton lyng east of the followng lne: Begnnng at a pont on the north lne of the southwest quarter of Secton 3 beng on the westerly lne oftha! parcel descr;bed n Book 49 Page 102 ofthe Jackson County Records whence the west quarter comer of sad Secton 3 bears North 89'38'55" West a dstance of 901.76 feet; thence along the westerly lne of sad parcel South 35 56'14" East a dstance of 2899.46 feet to the southwest comer of sad parcel; thence North 54'03'46" East along the southerly sde of sad parcel a dstance of 100.00 feet to a pont on the centerlne of Colorado State Hghway 125 thence contnung along sad centerlne South 35'57'28" East a dstance of 2272.37 feet to a pont on the northerly lne ofthat parcel descrbed n Book 44 Page 243 of the Jackson County Records thence followng the lmts of sad Book 44 Page 243 South 54 03'00" West a dstance of 101.09 feet; thence South 35'56'51" East a dstance of 4682.64 feetto a pont on the South lne of sad Secton whence the southwest comer of sad Secton 11 bears South 87 57'34" West a dstance of 1322.15 feet. Total area lyng west of the State Hghway beng 1211.055 acres more or less. 3482]

1111111 11111111111111111111111111111111111111111; J 80501 03/28/2008 12:02P B2 P804 BARGAN 4 of 4 R 21.00 D 0.00 N 0.00 JACKSON COUNTY CO EXHlT B DESCRPTON OF WATER RGHTS Any and all water and water rghts dhjhes and dtch rghts sprngs and sprng rghts reservors and water storage rghts wells and groundwater rghts and any other rghts whatsoever re1atng to water decreed or undecreed assocated wth or hstorcally used n connecton wth the Prope~ty ncludng wthout lmtaton the followng specfc water rgh's: Structure Prorty Adjudcaton Appropraton Name Source No. Amount Date Date J.W. Sutton Dt<h* East Fork orbg 5 2.67 cfs 09/1911892 05/2011882 l.w. Sutton Dtch* East Fork ofeg 64 (62) 2.67 cfs 09/1911892 06130/1886 J.W. Sutton D1ch* East Fork of Bg 665 16 cfs 06/20/1939 05101/1890 Lttle Dora D jtch East Fork of Bg 683 10 cf 06/2011939 05/0111897 Dora Dtch East Fork of Bg! 85 (79) 1.0 cfs 09/19/1892 05/05/1887 W!low Creek Dora Dkh East Fork OfEg! 147 (134) 2.0 of 0911911892 06/21/1888 Dora Dtch East Fork OfEg! 193 (173) 3.0 cs 09/1911892 06121/1889 School Secton Dtch'" East Fork Oflg! 120 (111) 6.0 cfs 09/19/1892 05/15/1888 School Secton Dtch* East Fork of Bg! 669 8.75 cfs 06/20/1939 06/01/1890 James Sutton Dtch 2 East Fork of Bg! 54 (52) 3.0 cfs 09/1911892 0511511886 W \low Creek James Sulton Dtch 2 East Coyote SPrng 87CW144.D cfs 12/3111987 05115/1886 East Coyote Sprng East Coyote Sprng 87CW46 1.0 cfs 12/3111987 0511511886 Lake Roslyn Reservor Bawd Creek 20 268.8 a.f. 06/20/1939 0911211936 Lake Roslyn Reservor HowdCreek 84CW05 21.0 a.f. 12/3111984 0911211936 *These dtches art subject to the terms and cbndtons of the Stpulaton and Agreement dated May 4 1987 between Nelda C. Stark and Howard L DeLne and Mary Kay DeLne as recorded n Book 147 at Page 155 of the real property records of Jackson County Colorado as amended by Memorandum of Agreement recorded n Book 148 at Page 549 of the real property reco-rds of Jackson County Colorado.