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BUYER'S AGREEMENT

 

KNOW ALL MEN BY THESE PRESENTS, That this Agreement is made between  ___________________________________________________ (hereinafter referred to as "Buyer") his/her/their/its successors and assigns and WestWater Resources, New Mexico business trust, as water rights broker (hereinafter referred to as "Broker"). 

RECITALS 

WHEREAS, the Buyer warrants that he/she/it is a bona fide buyer or legal representative of a Buyer of surface and/or ground-water water rights (hereinafter referred to as the "Property")

WHEREAS, The Buyer seeks _______ acre feet of consumptive use water rights for  use in ____________________ County, State of ____________________ . 

WITNESSETH:  

NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, it is agreed as follows: 

1. The Broker accepts the appointment and shall use his best efforts to procure a ready, willing and able Seller of water rights suitable to the Buyer in accordance with the terms of this Agreement. 

2. The Buyer shall refer any and all prospective Sellers of water rights not introduced by Broker to the Broker and Broker shall act as Buyer's agent in all water rights transactions during the term of this Agreement and any extensions which pertain to the water rights acquisitions by Buyer. 

3. At all times, the Broker shall act as Buyer's agent with respect to water rights introduced by Broker to the Buyer. 

4. When Broker is acting on behalf of the Buyer with regard to water rights not introduced to the Buyer by Broker, Broker shall act as Buyers' agent and Buyer shall pay Broker a commission of ten percent (10%) of the purchase price. 

5. The Buyer agrees to maintain as confidential any and all Sellers of water rights introduced to the Buyer by the Broker. 

6. This Agreement shall remain in force and effect for as long as any transaction is in progress before regulatory agencies or courts of law.

7. All notices under this Agreement shall be forwarded through the U.S. Post Office by Certified Mail to the address of the parties hereto as set forth below: 

BROKER:
  
William M. Turner, Qualifying Broker 
WestWater Resources 
1527 Granite Avenue, Southwest
Albuquerque, New Mexico 87104

BUYER:
 
Name of Buyer:         ____________________________________________ 
Mailing Address:        ___________________________________________ 
City, State, and Zip: ____________________________________________
                               ____________________________________________

8. This Agreement shall commence on the latest date herein below inscribed and terminate one (1) year from the date of signature.

 

BUYER: 

_________________________________________________
                                   (Name of Entity if any)

By:  _____________________________________________
                                                   (Name & Title)         Date

By:______________________________________________
                                                   (Name & Title)         Date

 
BROKER: 

     WESTWATER RESOURCES 

 
By:_______________________________________ 
     William M. Turner, President                 Date 

 
ACKNOWLEDGEMENTS 

 

STATE OF NEW MEXICO)
) ss.
COUNTY OF BERNALILLO)

Subscribed and sworn to before me by William M. Turner who appeared before me this _____ day of _____________, 1999 and who did state that he has been authorized by the Board of Trustees to enter into this Agreement as memorialized by a Minute to the Minute Book thereof.

                                                                                 ____________________________
                                                                                                       Notary
My Commission Expires:_____________________
(SEAL)

STATE OF _____________)
) ss.
COUNTY OF ____________)

Subscribed and sworn to before me by _____________________________________, who appeared personally before me this ____ day of ________, and who swear, affirm, certify, depose, and warrant that he/she/they have signed the hereinabove instrument as his/her/their sui juris act and who is/are legally authorized to sign the hereinabove instrument and do hereby attach documentary evidence of his/her/their authority if acting on behalf of any fictitious legal entity of public or private law. 

                                                                                 ____________________________
                                                                                                       Notary
My Commission Expires:_____________________
(SEAL)

 

ACKNOWLEDGEMENT FOR INDIVIDUAL(S)

STATE OF _______________________)
) ss.
COUNTY OF _____________________)

Subscribed and sworn to before me by _____________________________________, who appeared personally before me this ____ day of ________, and who did swear, affirm, certify, depose, and warrant that he/she/they have signed the hereinabove instrument as his/her/their sui juris act and who is/are legally authorized to sign the hereinabove instrument and do hereby attach documentary evidence of his/her/their authority if acting on behalf of any fictitious legal entity of public or private law. 

                                                                   _____________________________  
                                                                                          Notary
My Commission Expires:_________________
(SEAL)