1162673-R 8 SDM S
CONVEYANCE /^ D ENVIRONMENTA L COVENAN

T AGREEMENT THI S CONVEYANCE AN D ENVIRONMENTAL^OVENAN T AGREEMEN T (the "Apreement" ^ i s mad e an

d entere d into a s oftbe^/y^a y o f '*Q'*-jc

—2010 , b

y an d betwee n Atlanti c Richfiel d Company , aDelaware corporatio n ("AR3 , an d Zion s Farm , L.C. , a Uta h limite d liabilit

y compan y ("ZFC" \and thi s Agreemen t i s executed i n coimectio n wit h th e followin g facts : RECITALS : A
. A R own s certai n rea

l propert y locate d in Tooel e County , Utah , an d mor e particularl y describe d o n Exhibi t "A " heret o (th e "AR Property")
. B
. A R desire s to convey th e AR Propeit y t o ZF C o n th e term s an

d condition s set fort h herein
. C
. ZF C currentl y own s certai n othe r real propert

y tlia t require s certai n maintenance , whic h i s locate d i n Tooel e County , Utah , an d i s more particularly describe d o n Exhibi t ''B " heret o (th e "ZF C Propertv" y C
. I n exchang e fo

r AR' s conveyanc e o f

th e A R Property , ZF C i s als o willin g t o enter into th e Environmenta

l Covenan t (define d i n Paragraph 2 below ) an d perfor mcertai n monitorin g and maintenanc e o f th e ZF C Propert

y o n th e terai s and condition s set fort h herein
. NOW , THEREFORE , fo

r goo d an d valuabl e consideration , th e receip t and sufficienc

y o f whic h are hereb y acknowledged , A R an d ZF C hereb y agre e a s follows : 1 • Conveyanc e o f

th e A R Property
. Concurrently wit h the executio n an

d deliver y of thi s Agreement

and o f th e Environmenta

l Covenant , A

R shal l conve y titl e t o th e A

R Propert y to ZF C pursuan t

t o tha t certai n Qui t

Clai mDee d attache d heret o a s Exhibi t

"C " (th e "Deed")
. 2 , Title/Titl e Insuranc e and Conditio n of/ ^ Property
. (a ) A R make s n o representatio n o r warrant y o f an y nature wit

h respec t t o th e titl e to th e A R Property
. (b ) A R ha s procure d atitl e commitment.date d tAeWj^ U 1^
. 201 0 (Commitmen

t No
. 16519 ) fro

mB& D Titl e Co
. o f

Tooel e o n behal f o f Tico r Titl e Insuranc e Compan y (th e "Titl e Company" ) namin g ZF C a s the propose d insure d an d committin g t o insure titl e t o th e AR Propert y i n ZF C followin g conveyanc e of th e AR Propert

y t o ZF C pursuan t

t o thi s Agreement , subjec t onl y t o th e term s an d condition s set

fort h therei n (th e "Titl e Commitment")
. ZF C ha s reviewe d th e Titl e Commitmen

t and i s satisfie d therewith
. Concurrentl y wit h executio n of thi s Agreement , AR shal l pa y th e Titl e Compan

y th e insuranc e premiu

m specified i n tli e Titl e Commitment an d caus e th e Titl e Compan

y t o issu e to ZF C atitl e polic y i n accordanc e wit h th e Titl e Commitment
. ZFC hereby agree s tlia t i t (i ) shal l look

solel y t o th e titl e polic y fo r any claim s o f

an y 5/7/201 0 8:45 A

Mnatur e relatin g t

o titl e to the A

R Property , an

d (ii ) release s and covenant s no t to su e AR fo

r an y titl e matter s concernin g the A R Property , whethe

r loiow n o r unknow n a s o f

th e dat e o f thi s Agreement
. (c ) A R make s n o representatio n o r warrant y of an y natur e wit h respec t t o the physica l or environmenta

l conditio n o f

di e A R Property
. (d ) B y acceptin g th e Deed , ZF C agree s an

d acknowledge s tha

t i t ha s inspecte d th e A R Propertj ' to its satisfactio n and accept s th e AJ R Propeit y i n it s curren

t as-is , where-is , with-all-fault s condition
. 3
. Environmenta

l Covenant
. Concurrently wit h th e executio n an

d deliver y of thi s Agreement , AR , a s holder , and ZFC , a s owner , shal l ente r int o tha t certai n Environmenta

l Covenan t attache d hereto a s Exhibi t "D " an d shal l immediately and jointl y caus e th e Uta h Departmen

t o f Environmenta

l Quality , adepartmen

t o f th e Stat e o f Utah , an d th e Unite d State s Environmenta

l Protectio n Agency , a

n agency o f

th e Unite d State s of

Americ ato ente

r into the Environmenta

l Covenan t 4
. Inconsistenc y wit

h Deed and/o

r Environmenta

l Covenant
. In th e event

o f an y inconsistenc y betwee n th e term s o f thi s Agreemen

t an d thos e of th e Dee d or

betwee n thos e o

f thi s Agreemen

t an d thos e i n th e Environmenta l Covenant , th e term s o f

th e Dee d and/o r

th e term s o f th e Environmental Covenan t shall contro l an

d supersede th e term s of

thi s Agreement
. 5
. Amendment
. Thi s Agreemen t ma y b e amende d o

r terminate d in awritin g executed b y A R an

d ZFC
. 6
. Effectiv e Date/Severabilitv/Govp-min p Law
. Th e effectiv e datp
. n f thi.' ; A prrKe-inftn

t shall b e th e dat e first

se t fort h above
. I

f an y provisio n o f

thi s Agreemen

t i s foun d t o b e unenforceabl e i n an

y respect , th e validity , legality , an d enforceabilit

y of th e remainin g provision s shal l no t

i n an y wa y b e affected , diminished , o r unpaired
. Thi s Agreement shal l b e governed b y an d interprete d i n accordanc e wit h th e law s of

th e Stat e o f Utah
. 7
. Successor s and Assigns
. All provision s o f thi s Agreemen

t shal l b e bindin g o n an

d shal l inm- e t o th e benefi

t o f A R an d ZFC an d their respectiv e successor s an d assigns
. 8
. Waiver
. N o failur

e b y an y part y t o insis t o n th e stric t

performanc e o f

an y covenan t o r dut y o f thi s Agreement , o

r t o exercis e an

y righ t o r remed y consequen

t o n abreac h of

thi s Agreement , shal l constitut

e awaive r o f an y suc h breach o r an y othe r covenant or duty
. An y part y may , but shal l b e imde

r n o obligatio n to , waiv e an

y o f it s right s o

r remedie s o r

an y condition s t o it s obligation s unde r thi s Agreement
. N

o waive r shall affec t or alte r th e remainde

r o f thi s Agreement , but

eac h othe r covenant , duty , and condition of thi s Agreemen

t shal l continu e in fii U force an d effect wit h respec t to an y othe r the n existin g o

r subsequently occurrin g breach
. 9
. Authorization
. Each individua l executin g thi s Agreemen t doe s represent

an d wan-an t to eac h othe r s o signin g (and eac

h othe r entit y fo r which anothe

r perso n ma

y b e signing ) tha t suc h individua

l ha s bee n dul

y authorize d to delive

r thi s Agreemen

t in th e capacit

y an d fo r the entit y se t fort h wher e suc h individua

l signs
. 5/7/201 0 8:4

5 AM10
. Attomeys ' Fees
. I f an y actio n i s brough t

t o recove r

an y ren t o r othe r amoun t unde r thi s Agreemen t

becaus e o f

an y defaul t

unde r tlii s Agreement , t o enforc e o r interpre t an y o f th e provision s o f

thi s Agreement , th e part y prevailin g i n suc h actio n shal l b e entitle d t o recove r fi'om th e otihe r pait y reasonabl e attorneys ' fee s (includin g thos e incun-e d i n connectio n with an y appeal) , th e amoun t

o f whic h shal l b e fixed b y tli e court an d mad e apar t

o f an y judgmen t

rendered
. Thi s Sectio n 1 0 shal l surviv e th e executio n o f tiiis Agreemen t 11
. Miscellaneous
. Thi s Agreemen t an d th e exhibit s heret o constitut e tiie entir e agreemen t

betwee n th e parties
. Venu e o n an y actio n arisin g ou t o f thi s Agreemen t

shal l b e prope r onl y i n th e Distric t

Cour t o f Tooel e County , Stat e o f Utah
. Th e partie s hereb y waiv e tria l b y jur y i n an y action , proceedin g o r counterclai mbrough t

b y eithe r o f the magains t

th e othe r o n al l matter s arisin g ou t

o f thi s Agreement
. Tim e i s o f th e essenc e o f

eac h pi'ovisio n o f

thi s Agreemen t Signature s o n thi s Agreemen t delivere d b y facsimil e o r electroni c mai l shal l b e deeme d origmal s fo r al l purposes . 12
. Counteiparts
. Thi s Agreemen t ma y b e execute d i

n an y number o f counterparts , eac

h o f whic h shal l constitute a

n origina l a s agains t

an y part y whos e signatur

e appear s o

n them , al l o f

whic h together shal l constitute asingl e instrument
. An y signature pag e o f

thi s Agi-eemen

t ma y b e detached fro man y other counterpar

t o f thi s Agreemen

t witliout impairin g th e lega

l effec t o f an y signature s thei-eo

n and ma y b e attache d t o anothe

r counterpar

t o f thi s Agreemen

t identica l i n for mhereto but

havin g attache d t o i t

on e o r more additiona

l signatur e pages .
I N WITNES S WHEREOF , tiie partie s hav e execute d tiiis Agreemen t a s o f tiie dat e first

se t foi1 h above
. Aflanti c Richfiel d Company , aDelawar e corporatio n


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l Expire s Decembe r 3.201 1 STATI C O F UTA H

_ LIS T O F EXHIBIT S Exhibi t "A " Exhibi t "B " Exhibi t "C " Exhibit "D " Lega

l Descriptio n o f

A R Propert y Lega l Descriptio n o

f ZF C Propert y ()ui t Clai mDeed Environmenta

l Covenan t

5/7/201 0 8:4

5 A MEXHIBI T "A " Lega l Descriptio n o f

AR Propert

y BEGINNIN G A T A POINT N00°02'20"W , 50.0 0 FEE T AN D S89''47'14"E , 626.1 1 FEET FRO M TH E CENTE

R O F TH E SOUTHWES T QUARTE R O F SECTIO

N 23 , T3S , R4W , S.L.B.&M. , TOOELE COUNTY , UTA H (SAI D POIN T LIE S O

N TH E NORT H RIGHT-OF

WA Y LIN E OF TH E TOOEL E COUNT

Y ROAD KNOW

N AS "SMELTE

R HIGHWAY " SAI D POIN T ALS O BEING TH E SOUTHEAS T CORNE

R O F TH E LOWR Y PROPERTY
. THENC E NO0''22'18" W ALON G TH E EAS T LIN

E OF TH

E LOWR Y PROPERT

Y A DISTANC E O F 282.0 0 FEE T TO A POINT O

N TH E SOUT H LINE O

F TH E ZION PROPERTY ; THENC E S89°49'14" E ALON G TH E SOUT

H LIN E O F TH E ZIO

N PROPERTY A DISTANC E O F 702.5 5 FEE T TO A POINT O N TH

E LIN E BETWEE

N TH E SOUTHWES T AN D SOUTHEAS T QUARTER S OF SAI

D SECTIO

N 23 ; THENC E S89°49'12" E CONTINUIN G ALONG TH E SOUT H LIN E O F TH E ZION PROPERT

Y A DISTANCE OF 1322.2 2 FEE T T O A POINT O N TH E NORTH-SOUTH RUNNIN G CENTERLIN

E OF THE SOUTHEAS T QUARTE

R O F SECTIO

N 23 ; THENC E S00°01'41" E ALON G SAI D LIN E A DISTANC E O F 283.1 5 FEE T TO A POIN

T O N TH

E NORT H RIGHT-OF-WA

Y LIN E O F SAI D SMELTER HIGHWAY ; THENC E N89°47'15" W ALON

G SAI D NORT H RIGHT-OF

WA Y LIN E O F SMELTE

R HIGHWA

Y A DISTANC E OF 1322.0 1 FEET T O TH E POINT O F INTERSECTIO N BETWEE N TH E NORT H RIGHT-OF-WAY LIN E OF SAI

D HIGHWA

Y AN D THE LINE BETWEE

N TH E SOUTHWES T AN

D SOUTHEAS T QUARTERS O F SAI D SECTION 23 ; THENC E CONTINUIN G ALON G TH

E NORT H RIGHT-OF-WA

Y LIN E OF SMELTE R HIGHWA Y N89°47'14" W A DISTANC E O F 701.0 7 FEET T O TH E POINT OF BEGINNIN G OF TH

E PARCE L DESCRIBED
. PARCE L CONTAIN S Mor

e o r les s 13.12 9 ACRES
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ZF C Propert y A PARCEL O F LAN

D LOCATE

D WITHI N TH E NORTHEAS T QUARTE R O F SECTIO N 26 , NORTITA^S T QUARTE R OF SECTION 25 , AN

D SOUTHWES T QUARTE R O F SECTIO N 2 4 AL

L WFTHI N T3S
. R4W , S.L.M. , TOOEL E COUNTY , UTAH , MOR E PARTICULARLY DESCRIBE D A S FOLLOWS : COMMENCIN G A T TH

E SOUTHWES T CORNE

R OF SECTIO

N 24 , T3S , R4W
. S.L.M. ; THENC E N58'' l 8'34" E 1499.5 6 FEET T O TH E NORTHEAS T CORNE

R O F PARCE

L NO
. 1 AN D POIN T O F BEGINNIN G O F TH E PARCE L HEREI N DESCRIBED
. THENC E S01°06'26" W 132.7 0 FEET ; THENC E S50°00'34" W 824.9 5 FEE T T O TH E POIN T OF CURVATUR

E O F A CURV

E T O TH E RIGHT , SAI

D CURV E HAVIN G A RADIU S O F 2525.0 0 FEET ; THENC E ALON G SAI D CURV E A DISTANCE OF 447.6 1 FEE T THROUG

H A CENTRA

L ANGL E O F 10°09'25 " AN

D A LON G CHOR D BEARING OF S55°05'17" W 447.0 2 FEET ; THENCE S60°09'59" W 933.9 8 FEET ; THENCE S60°24'10" W 94.4 3 FEE T T O TH E POIN T OF CURVATUR E OF A CURV

E TO TH E RIGHT , SAI

D CURVE HAVING A RADIU S O F 765.0 0 FEET ; THENC E ALONG SAI D CURV E A DISTANC E O

F 792.4 0 FEE

T THROUGH A CENTRA

L ANGL E O F 59°20'52 " AND A LON G CHOR D BEARING O

F N89°55'24" W 757.44 FEET ; THENC E N60°14'58" W 91.9 4 FEET ; THENC E N28°43'58" E 100.0 2 FEET ; THENC E S60°14'58" E 93.7 2 FEET T O TH E POINT O

F CURVATUR

E O F A CURV E T O THE LEFT , SAI

D CURV E HAVING A RADIU S O F 665.0 0 FEET ; THENCE ALON G SAI D CURV

E A DISTANC E OF 688.8 2 FEET THROUG H A CENTRA

L ANGL E OF 59°20'52 " AN

D A LONG CHOR

D BEARING OF S89°55'24" E 658.4 3 FEET ; THENC E N60"'24'10" E 94.2 2 FEET ; THENC E N60°09'59" E 933.7 8 FEE T T O TH E POINT O

F CURVATUR

E O F A CURV

E TO TH E LEFT , SAI

D CURV E HAVIN G A RADIU S O

F 2425.0 0 FEET ; THENC E ALON G SAI D CURV E A DISTANC E O F 429.8 8 FEET THROUG H A CENTOA

L ANGL E O F 10°09'25 " AN

D A LONG CHOR

D BEARING O

F N55°05'17" E 429.3 2 FEET ; THENC E N50°00'34" E 912.1 8 FEET T O TH E POIN T O F BEGINNING
. CONTAIN S 7.2 7 ACRES , MOR E O R LESS
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### 1EXHIBI T "C " Qui t Clai mDee dWhen recorded , pleas e retumto :

QUIT CLAI M DEE D Atianti c Richfiel d Company , aDelawar e corporation , as Grantor , hereb y QUIT CLAIM S t o Zion s Farm , L.C. , aUta h limite d liabilit

y company , as Grantee , fo r th e su mof TE N DOLLAR S ($10.00) , or

othe r good an d valuabl e consideration , all of Gi-antors ' right , titie, an

d interes t i n th e followin g describe d rea l propert y locate d i n Tooel e County , Stat e o f Utah , without an y representation s o

r wan-antie s of

an y kin d wit h respec t to the conditio n o f

o r titi e t o suc

h rea l property :
Se e Exhibi t "A " hereto
. Ta x Seria l No
. 03-031-0-000 6

DATE D a s o f

tiie ff da y o f H/JJ ^ 20//

J
Atianti c Richfiel

d Company , aDelawar e corporatio n

Name: ^7?ftfc,W

'S^.laJL Its: H-jtL^'^lUuV^jL..

- 1 -STAT E OF , 

# AflJ^ -GOWff*^ ^ 

# 2^:>w w "^vj^ll v ? u the 

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y of , 20j/ ^ personall y appeare d befor

e me o f Atlanti c Richfield Company. , a Delawar e corporation , wh o duly acknowledge d t o m e tha t he/she execute

d th e sam e o n behalf o f suc h corporation
. u/focK tiie l/{LA- f^fiH^^

1 / NOTAR Y PUBLI C Residing at: A^cja^^^AK M y commissio

n expires : 

# mm

• 2 -EXHIBI T "D " Environmenta

l Covenan tWhe

n Recorded Retu

mTo : Car l W , Barto n Holland & Har

t LL P 60 Eas t Souti i Temple Suit e 2000 Salt Lak e City , UT 8411 1 WitiiCopyTo : Uta h Departmen

t o f Environmenta

l Qualit y Divisio n o f Environmenta

l Respons e an

d Remediatio

n P.O
. Bo x 14484 0 Salt Lalc e City , Uta h 84114-4840 WitiiCopyTo : Environmenta

l Protection Agency : Regiona l Institutiona

l Contro l Coordinator , EPR-S R U.S
. Environmenta

l Protection Agenc

y 159 5 Wynkoo

p Stree t Denver , C O 8020 2
ENVIRONMENTAL COVENAN T Thi s Environmenta

l Covenan t ("Environmental Covenant" ) i s entere d int o b y Zion s Farm , L.C. , aUta

h limite d liabilit y compan y ("Owner") , Atianti c Richfiel d Company , aDelawar

e corporatio n ("Holder") , the Uta h Departmen

t of Environmenta

l Quality , adepartment

of th e Stat e o f Utal i ("DEQ") , an

d the Unite d State s Environmenta l Protection Agency , a

n agency o

f th e Unite d State s o

f Americ a("EPA" ) (each a"Party " an d collectively , tiie "Parties") , pursuan t to Uta h Cod e Ann
. § § 57-25-10 1 e

t seq . ("Act" ) an

d concem s th e Propert

y describe d i n Section B. 2 below
. Th e DEQ an d EP A eac h ente r thi s Environmenta

l Covenan t i n the capacit

y o f a n "Agency " a s define d i n the Ac t

Th e DE Q an d EP A assum e no affirmativ

e obligation s through th e executio n of thi s Environmenta

l Covenant
. A
. Recital s WHEREAS , thi s Eavu-onmenta l Covenan t affect s an d relate s t o th e Property , as define

d herein ; WHEREAS , Holde

r conducte d certai n clean-u

p activitie s an

d made relate d improvement s t o the Propert

y (collectively , th e "Clean-u p Work" ) pursuan t t o aUnilatei*a

l Administi-ativ

e Orde r fo r Remova l Respon d Activitie s (Docke t No
. CERCLA-08-2005-0001 ) (tiie "UAO" ) issued b y BP

A unde r Sectio n 106(a

) o f th e (Comprehensiv

e Environmenta

l Response , Compensation , an

d Liabilit y Act , a s amende

d ("CERCLA")
. Th

e Clean-u p Wor k i s mor e particularl y described o

n E^diibt t "C " attache d hereto ; Additiona l information regardin g th e Sit e and th e Clean-u

p Wor k ma y b e foun d i n tiie Healt

h Departmen

t of Tooele County , Utah , an

d in th e

1

-Administrative Recor d fo r th e Sit e locate d in th e office s o f EP A Region VII I located i n Denver , Colorado ; WHEREAS , EP

A an d Holde r expec t t o ente r int o aConsen

t Decre e i n the futur

e tha t will terminat e the provision s o f

tiie UAO ; WHEREAS , DE

Q an d EP A ar e th e agencie s wit

h responsibilit

y t o ovewe e th e Clean-u

p Wor k o n tiie Property ; WHEREAS , th e Clean-u

p Wor k i s a n "environmenta

l respons e project, " a

s define d b y th e Act ; WHEREAS , as permitte d b y th e Act , Owne

r desire s to subjec t

th e Propert

y t o th e "Owner' s Covenant s Affectin g tiie Property , se

t fort h in Section 6(a) herei n (collectively , th e "Covenants") , fo

r th e purpose s described herein , whic h Ckjvenant s shall burden th e Propert

y an d bin d Owner , it s successor s an

d assign s an

d an y subsequen

t owners of th e Property ; WHEREAS , Owne

r an d Holde r desu' e t o b e boun d b y obligation s specifi c to the ma s se t fort h in Exhibit

"B " hereto ; WHEREAS , Ownei

- desire s tha

t Holde r b e designated a"holder " o f th e Covenant s (a s define d i n §57-25-102(6 ) of

th e Act) , witi

i al l the rights se

t fort h in thi s Environmenta

l Covenant ; an d WHEREAS , thi s Environmenta l Covenan t i s executed an

d acknowledged fo

r recordin g a s a n environmenta

l covenan t pursuan t t o the Act
. NOW , THEREFORE , Owne r hereb y impose s tiie Covenants o n th e Property , an d declare s tha t the Propert

y shal l hei-emafle

r b e boun d by , held , sold , an

d conveyed subject

t o th e requirements , obligation s and restriction s se t fort h i n thi s Environmenta

l Covenant , whic h shall run wit h the Propert

y h i perpetuit

y and b e bindin

g o n Owne r an d o n it s successor s an

d assign s an

d an y subsequen

t owners o f al l o r an y portion o

f o r interes t i n th e Property
. Owne

r an d all Transferees , a s hereinafte

r defined , shall hereinafte

r b e referred t

o i n thi s Environmenta

l Covenan t a s "Owner. " B
. Covenan t No w therefore , th e Partie s agre e t o th e following : L Environmenta

l Covenan t

Thi s instrumen

t i s a n environmenta

l covenan t develope d and execute d pursuan t t o th e Act
. 2
. Property
. Thi s Environmenta l Covenan t concem s approximatel

y 7.2 7 acre s o f certai n rea

l propert y owned b y th e Owner , located i n Tooele County , Utali , wliic h i s mor e particularl y describe d o n Exhibit "A " heret

o (th e "Property" ) an

d wliic h form s apar

t of alarge r are a commonl y known a s the Tooel e Valle y Raihoa d Grad e Site
.3
. Owner
. OwnCT , whic h i s locate d a t P O Bo x 716 , Tooele City , Uta h 84074 , i s th e owne

r o f the Propert

y i n fe e simple
. Consisten

t wit h Sectio n 7 o

f thi s Environmenta

l Covenant , tiie obligation s o

f the Owne

r ar e impose d o n assigns , successors i

n interest , includin g withou t limitation , futui-

e owner s of a n interes t i n fe e simple , mortgagees , lenders , easemen t holders , lessees , an d an y othe r perso n o r entit y wh o acquire s an

y interes t wlmtsoeve

r i n the Property , o

r any portio n thereof

, whethe r o r not an y referenc e t o tiiis Environmenta l Covenan t or it s provision s i s contained in the deed , othe r conveyanc e instioiments , o

r othe r agreements b

y whic h sucl

i person o r entit y acquire s it s interes t

i n th e Propert

y or any portio n thereof

("Transferee")
. 4
. Holder/Desipnation
. HolderislocatedatSl?AnacondaRoad,Butte,Montana5970 1 an d 1 8 th e holde

r o f thi s Environmenta

l Covenant
. Notwithstanding the foi-egoiiig , Holde r shall hav e th e right t o designat

e on e o r more person s t

o ac t o n it s belial

f unde r tiiis Environmenta

l Covenant , which designation shall : (a ) b e mwriting ; (b ) refe

r t o thi s Environmenta

l Covenant ; an

d (c ) b e dul y recorde d i

n th e Tooele County , Utah , rea l propert y records , an

d following suc

h designatio n Holde r shal l notif y Owner, DE

Q an d EP A regardin g the same , 5
. Monitoring an

d Maintenanc e Woik
. Th e Clean-u p Wor k wil l require monitorm

g an d maintenanc e in orde

r to ensur e th e long-ter

mintegrit y o f suc h Clean-u p Work
. The responsibilitie s o f

Owne r fo r monitoring an

d maintenanc e ar

e se t forti i i n Sectio n 6 "Activit

y an d Us e Limitations , Owner' s Covenants Affectin g th e Property " below
. I

n addition
. Holde

r shall perfor mth e followin

g monitoring an

d maintenanc e work : Holde r shal l conduc t surveillanc e an

d maintenanc e activities
. Holde r shall coordinat

e inspection s in accordanc e wit h th e Lon g Ter mOperatio n an

d Mamtenanc e Pla n ("LTO&M" ) an d shall repair

remedia l featur e damag e as needed
. Holde r shal l prepare , revise , and implemen t th e LTO«fc M fo r area s wher

e wast e ha s been remediate d in-place
. Holder' s operatio n an d maintenanc e dutie s als o include complyin g wit h reportin g requirement s an d maintainin g record s pertainin g t

o the Site , a

s reqmred b

y applicabl e law
. Holde r slial l b e permitted t

o acces s tiie Propert

y (a s provide

d mSectio n 9 an

d Exhibi t B below ) in orde

r to perfor mthe monitoring an

d maintenanc e work
. 6
. Activit

y an d Us e Limitations
. A s par

t o f th e Clean-u

p Wor k describe d above , th e Owne r hereb y impose s an

d agree s to implement

administer , an

d maintain th e following acti'vit y an d us e limitation s o

n th e Property
. In tiie even

t th e Owne r convey s o r transfer s a n interes t i n th e Propert

y o r an y portio n thereo f

t o aTransferee , Owne

r shal l tak e measure s necessar

y t o ensur e tha t th e Transfere e wil l implement , administer , an d maintai n th e followin

g activit y an d us e limitations : (a) Owner' s Covenants Affectin g th e Property
. Th

e followin g Covenant s shall burden th e Propert

y an d ar e intended to bin

d Owne r and th e Owner' s successor s an d assign s an d an y subsequen t owners of the Propert

y an d shall contro l an

y provision s contained heroin fliat ai'e inconsistent

therewith : (i ) Us e of

the Piopertv
. Except

a s provide d i

n Section 6(a)(ii ) below , th e Owne r shall no t talce , authorize o

r allo w an y direc t or indirec t action whic

h interfere s with , i s inconsisten

t witii , huidei-s , delays , diminishes , o r fiiustrates: (a

) tiie implementation , effectiveness , purposes , o

r integrit y o f th e Clean-u

p Wor k o r an y fUtur e respons e action s

- 3o r monitoring an

d maintenanc e activitie s require d unde r an y applicabl e law s o

r b y an y federal , stat

e o r loca l governmenta

l entity , or (b ) an y othe r action s tha

t the EPA , DEQ , o

r Holde r deems necessar

y o r advisable t o addres s environmenta l condition s o

n o r relate d t o tiie Property ; (ii ) Futur

e Developmen

t Restriction
. N o developmen t o r chang e o f lan d us e of an y kin d o n th e Property , including , withou t limitation , grading , othe

r smfac e disturbance , groun d wate r wel l drilling , pumping.o

r an y actio n tha

t will alter , distur

b o r otherwis e intei-fer e wit h tiie Clean-u

p Work, shal

l b e permitted o

r allowe d o n th e Propert

y withou t Holder' s prio

r writte n consent
. An

y developmen

t o r chang e o f land us e shal

l requu- e approva l in accordanc e witii al l applicable laws , regulation s an d requirement s o f

an y governmenta

l entit y liavin g jurisdictio n ove

r th e Property
. Suc

h approva l of Holde r shall not b e unreasonabl

y withheld , conditioned , o

r delayed , but

shal l b e subjec t to sud i reasonable condition s a s Holde r shall dee mappropriate
. Tli e Owne

r shall b e solel

y responsibl e fo

r an y additiona

l respons e action wliic

h ma y b e necessarj ' t

o accommodat

e fiitiir e developmen

t of th e Property
. Fo

r purpose s o

f thi s provision , th e phras e "additiona l respons e actio n which ma

y b e necessar

y t o accommodat

e fiitur e development " shall mea

n an y an d all respons e action s beyon d tha t whic h Atianti c Richfiel

d i s require d t

o unplemen

t a t the Tooele Valle

y Railroa d Grad e Sit e unde r an y administrativ e orde

r o r consen t decree mth e absenc e of

futur e development
. An

y suc h additiona

l respons e actio

n mus t b e undertake n in accordanc e wit

h an d mamanne

r consisten t witi i th e requirement s of

the Consen t Decree fo r th e Site , a s ma

y b e amende

d o r supplemente

d firomtim

e t o time, an d all othe r environmenta

l law s an d otiie r applicabl e laws ; (Hi ) Annl i cabl e Laws
. Tli e Propert

y shal l b e mamtained an

d manage d in accordanc e wit h an d i n amaime

r consisten t wit h th e requirement s of

th e Consen

t Decre e an d an y applicable judgments , federal , stat e o r loca l laws , rules , regulations , orders , decrees , o r othe r governmenta

l enforcerhen

t action s relatin g t

o environmenta

l condition s o n th e Property ; (iv) Structures
. Th e Owne r shall : (a ) maintain th e mtegrit

y o f the existm

g roc k revetmen t an d drainag e contro l stmctures , (b ) ensur e tha t th e drainag e control structures , roc k revetmen t an d vegetatio n cove

r ai' e free o f debri s o r othei

- material , an

d (c ) tak e reasonable measure s to ensur e tlia t th e drainag e coiit'o l stmcture s an d vegetatio n ai-

e no t damage d o r destroyed ; (v ) Noxiou s Weeds
. Owne r shal l tak e suc h step s a s ma

y b e reasonably necessar

y t o control noxiou s or

othe r weed s o n th e Propert

y i n accordanc e wit

h applicabl e laws ; (vi ) Minera

l an d Wate r Exploration
. Developmen t o r Production Restriction
. N o exploration o

r minuig , milling , processmg , drilling , pumping , extoractio n o r an y othe r method o f developmen

t and/or production of

an y water , wells , wate

r ri^ts, veins , load s or minera l deposit s (indudmg , withou t limitation , hardroc

k minerals , sand , gravel , clay , o U an d ga s an d othe r hydi-ocai'bons , or

othe r simila r natuiall y occurring substances ) i s permitted o

n th e Property ; an

d(vii ) Propert y Maintenanc e Covenant
. Owne r slial l kee p tiie Propert

y (including without limitation tiie drainag e conti-o l sfa-uctures , roc k

revetmen t an d vegetation ) in goo

d repau' , s o a s to protec t

an d preseiv e tiie Clean-u

p Work
. Thi s wor

k include s prope

r maintenanc e suc

h tha t erosion o f th e cove r doe s no t occur . (b ) Notic e o

f Chang e u i Use
. Ownei-shal l notif y Holder , EP

A and tiie DEQ simultaneousl

y whe n submittin

g an y application to aloca

l govenimwi

t fo r abuUdhi g permit o r chang e i n land us e fo

r th e Property
. Th

e notic e shal

l contain , a

t aminimum , adescriptio n of the propose d activity , the anticipated commencemen t an d completion date s tiiereof, an d acop y of tiie applicatio n submitte d t

o th e loca l govemmen t

Holde r shall hav e the right , bu t

no t th e obligation , t o paiticipate many hearing , revie w proces s o

r otiie r governmenta

l proceeding tha

t include s constmctio n on , or

achang e o

f us e of , th e Propert

y o r an y othe r action s o n th e Propert

y tha t ma y mipai r or jeopardiz e the integrit

y o f th e Clean-u

p Work
. 7
. Runnin g wit

h tiie Land
. Thi s Environmenta l Covenan t shal l b e bindin g upon th e Owne r an d an y Transfere e durin

g tiiat person' s perio d o f

control , occupation , o

r ownershi p uiteres t o r an y perio d arism

g tiiereafter

bu t wliich result s fiomsuc

h control , occupation or

ownershi p interes t durin g suc h peiiod , an

d shal l ru n wifl i the land , pursuan

t to th e Ac t an d subjec t t o amendmen

t o r terminatio n a s se t

fort h herein
. 8
. Complianc e Enforcemen t (a ) Thi s Environmenta

l Covenan t ma y b e enforce

d pursuan t t o th e Ac t

Failur e to timely enforc e complianc e witi i tiiis Envux)nmenta

l Covenan t o r the activit y an d us e limitation s contamed herei n b y an

y part y shall no t ba r subsequen t enforcemen

t b y suc h pail y an d shal l no t b e deeme d awaive r o f the party' s righ

t to tak e actio n to enforc e an

y non-compliance
. Nothin g in thi s Environmenta

l Covenan t shall i-estiic

t th e DE Q o r th e EP A fi'omexercisin g any , authorit y unde r applicabl e law , (b ) I n additio n to an

y othe r remedie s availabl e a

t la w o r in equity , including , withou t lunitation , thos e remedie s se t forti i in §57-25-11 1 o f

th e Act , Holde

r an d it s representative s ma

y enforc e th e term s o f

thi s Envirormienta

l Covenan t b y filmg suit

i n district cour t to : (i ) enjoi

n actua l o r threatene d violations ; (ii ) see k specifi c performance ; and/o r (iii ) see k suc h othe

r lega l o r equitabl e relie f

a s ma y b e appropriat

e in the cu-cumstances
. Holde r shal l b e entitle d t o recove

r fi-omOwne

r and/or Transferee s an

y lega l fee s an d cost s incurre d i n an

y suc h proceedings , provided tha

t i n n o even

t shall the foregoing b e deeme d t o obligat

e DE Q to reimburse Holde

r fo r suc h fee s an d costs
. 9
. Riidit s o f

Access
. Owne

r hereb y grants to th e DE Q an d EP A an d their respectiv e agents , conti-actors , an

d employee s the right

o f acces s to th e Propert

y fo r inspection , implementation o r enforcemen

t of thi s Environmenta

l Covenant

Th e Owne r als o grant s acces s t

o th e Holder , as describe d i n Exhibi t

B hereto
. 10
. Complianc e Reporting
. Within thirt y (30) day s following th e en d of eac h calenda r year , Owne r an d Holde r shal l submi t written documentation to eac h othe r an d t o DE Q an

d EP A verifyin g tha t th e activit

y an d us e limitation s se

t foi-fl i herei n remain i n plac e an d ai' e bein g followed
.

• 5 -11
. Notic e upo n Conveyance
. Eac

h instrumen

t hereafte r conveyin g an

y interes t mthe Propert y o r an y portio n o f tiie Propeit

y shal l b e substantiall

y i n the followin g form : TH E INTERES T CONVEYE D HEREB Y I S SUBJEC T T O A N ENVIRONMENTA

L COVENANT , DATE D 200_ , RECORDE

D I N TH E DEE D O R OFFICIA

L RECORD S O

F TH E COUNT Y RECORDE

R O N ,200_ , I N [DOCUMEN

T
. o

r BOOK
. PAG

E ,]
. Owne r shal l notif y Holde r i n writin g a t leas t tiiirty (30 ) day s madvanc e o f consummation of

an y suc h conveyance , including an

y conveyanc e o f

an y easemen t o r righ t of wa y hmdeniu g all o

r an y portio n o f th e Property
. Owne

r shal l disclos e in writing the natur e o f th e Clean-u

p Wor k performed o

n th e Propertj ' aii

d th e term s o

f thi s Envhonmenta

l Covenan t t o an y Transferee of

an y mteres t in th e Propert

y o r aportio n thereo f

Fo r purpose s o

f thi s Section 1 1 th e conveyanc e o f a securit y interes t i n th e Propert

y shal l no t b c deeme d subjec t t o the notic e requnement s set fort h herein
. Owne

r shall notif y tiie DE Q an d EP A within te n (10) day s afte

r eac h conveyanc e o

f a n interes t i n an y portio n of

tiie Property
. Owner' s notic e shal l include th e name , address , an d telephone numbe

r of tiie Transferee , acop

y of th e deed , o

r othe r documentatio n evidencm

g th e conveyance , an

d a n unsurveye

d pla t tha t show s th e boundarie s o

f the propert

y bein g transfen-e d If Owne r an d Holde r ente r int o an y agreemen

t wit h respect t o the reknbursement

of an y cost s relatin g t o thi s Environmenta

l Covenant , suc

h agreemen

t shal l surviv e suc h conveyanc e o f the Property
. 12
. Representation s an

d Waitanties
. Owne

r hereb y represents an

d warrant s to th e othe

r signatorie s hereto : (a ) tha t Owne r i s th e sole owne

r o f th e Property ; (b ) tlia t th e Owne r hold s fe e simpl e titie t

o th e Property , subjec t

onl y to th e interes t

o r exception s se

t fort h o n Exhibi t "D " hereto ; an

d (c ) tha t the Owne

r ha s the powe

r an d authorit y t o ente r int o thi s Envnonmenta

l Covenant , t o gi-an

t tiie rights an

d intei-est s herei n provide d an d to carr y out all obligation s hereundei'
. 13
. Amendmen

t o r Termination
. Thi s Environmenta l Covenan

t ma y b e amende d or terminate d pursuan

t t o the Act
. 14
. Effectiv

e Date/Severabihty/Goveming Law
. Th e effectiv e dat e o f thi s Environmenta

l Covenan t sha D b e th e dat

e upon which th e full

y execute d Envnonmenta

l Covenan t ha s bee n recorded a s adocumen

t o f recor d fo r tiie Propert

y wit h th e Tooel e Count

y Recorder
. If

an y provisio n o

f thi s Envu-onmenta

l Covenan t i s foun d to b e unenforceabl

e i n any respect , th e vaUdity , legality , an

d enforceabilit

y o f the remainin g provision s shal l no t i n an y wa y b e affected , diminished , o

r impaired
. Thi s Environmenta l Covenan t shall b e governe d b

y an d interprete d in accordanc e wit

h th e law s o

f the Stat e o f Utah
. 15
. Recordation an

d Distributio n o

f Environmenta

l Covenant
. Within thuty (30) day s afte r the dat e o f th e final required signatm

e upo n thi s Environmenta

l Covenant , Holdei

- shal l file thi s - 6

-Environmenta l Covenan t fo r recoi-din g i n the sam e manne r a s a. dee d t o th e Property , wit

h th e Tooele Count

y Recorder' s Office
. Holde r shal l als o distribut

e afile-stamped an

d date-stamped cop y o f th e recorde d versio n of

thi s Envnonmeiita

l Covenan t to : DEQ , EPA , an

d Owner, 16
. Notice
. Unles s otherwis e notified i n writing b y o r o n behalf of th e cuirent

owner , DEQ , EP A o r Holder , an

y documen

t or communication required b

y thi s Eiivkonmenta

l Covenan t shall b e submitted to : If t o DEQ : Uta h Departmen

t o f Environmenta

l Qualit y Divisio n of

Environmenta

l Respons e an

d Remediation Attentio n Ton

y Howes , CERCL

A Branc h IS& R Project Manage r P.O
. Bo x 14484 0 Sal t Lak e City , Uta

h 84114-4840 Fa x #801-536-424 2 I f t o EPA : Regiona l Institutiona

l Contro l Coordinator , EPR-S R U.S
. EP A 159 5 Wynkoo

p Stree t Denver , C O 8020 2 ff t o Owner : Zion s Farm , L.C
. P O Box 71 6 Tooele , UT
. 8407 4 ff t o Holder ; Charle s T
. Stilwell Atianti c Ridifiel d Compan

y 31 7 AnacondaRoa

d Butte , Montan a5970 1 Fa x #406-563-826 9 wit h acop y to : Natha n Block B P Americ aInc
. Lega l Departmen

t 50 1 Westiak

e Par k Boulevar d Houston , T

X 7707 9

7 -An y suc h documen

t or communication shal

l b e delivere

d vi aprepai d Unite

d State s certifie d mail , retu

mreceip t requested , facsunile o

r nationall y recognize

d overnigh

t cornie r an d provide receipt

o f delivery
. Such documen

t o r cormnunicatio

n shal l b e deemed effective upo n receipt o r refusa l o f receipt. 17
. Qr^vemmenta

l hnmunity
. I

n executing thi s Envnonmenta l Covenant , the DEQ an

d EP A d o not waive governmenta

l immunit y afforde d t o tiiemb y applicabl

e law
. Tlie Owne r fo r itself an d it s successors , assigns , an d Transferees , hereb

y fully an d irrevocably release s an d covenants no t

t o su e the Stat

e o f Utah , it s agencies , successors , departments , agents , an d employee s ("State" ) fi'oman y an d all claims , damages , o

r cause s of actio n arisin g from, o

r o n accoun t o f tiie activitie s carrie d ou t

pui'suan t t o thi s Environmenta

l Covenant , except

fo r a n actio n to amen d o r terminat e the Environmenta

l Covenan t pursuan t t o section s 57-25-10 9 an

d 57-25-11 0 o f th e Uta h Cod e Ann
. o r fo r aclai magains t th e Stat e arisin g dhectly o

r indirecti y fromor

out o f action s o f employee s o

f tiie Stat e tha t woul d result

m(i ) liabilit

y t o tiie Stat e o f Ut ^ unde r Sectio n 63G-7-30 ] o

f tiie Governmenta

l Immunit y Ac t o f Utah , Uta h Cod e Ann
. Sectio n 63G-7-10 1 e t seq . o r (ii ) individua

l liabilit y for action s no t

covere d b y th e Governmenta

l immunit y Ac t a s indicated i n Section s 63G-7-202 an

d -90 2 o f tiie Governmenta

l Immunit y Act , a s determine d in a cour t o f law
. 18
. Limitation s o

n Liability
. Except

a s provided otherwis e herein
. Holder shall no t incu r an y liabilit y unde r stat e la w o r othei-wise solely b y virtu e o f being aholde

r unde r thi s Environmenta

l Covenant
. 19
. Pavmen

t o f DEO' s Costs
. T

o th e exten

t reimbursemen

t i s no t provide d b

y EPA , th e Holde r shal l reimburs e tiie DE

Q in ful l fo r all reasonabl e cost s incun^e d b y DE Q an

d relate d to tiie activitie s contemplate

d in thi s Envnonmenta

l Covenan

t whicl i requir e review , inspection , involvement , o r

otherwis e incu

r cost s fo r th e DE Q i n accordanc e witi

i tiie fe e schedule approved b y the legislature
. [SIGNATURE S APPEA R O N FOLLOWIN

Q PAGES ]

- 8OW>JER:

Zion s Fann , L.C. , aUta h Limite d Liabilit

y Compan y
Bv : ^0 ^ ;2 ^ Name: '-/^AW

L., ffk-Z-FA^tiS Its:]fA.Ai^a^^jTDate ^-iO-fO

Stat e o f Ut a Count y o f 

# i a? ,
A BMorcrtiflc , a.notar y public , i n an d fo r sai d count

y an d state , personall

y appeare d J^jPO <7v.. t

T^\Jl*\\fvfi J J

y • aduly authorized representativ e o f Zion s Farm , L.C , a Uta h Limited CiabiliCj ^ ConipanyT wh o acloiowledged to m

e tha t [he/she ] di

d execut e th e foregoin g instrument

o n behalf o f Zion s Farm , L.C
. Di l TESTIMONi

V AyHEREOF , hav e subscribe d m y name an

d affixe d m y officia l sea l thi s M TESTIMOJ^/iVHEREOF , I s u 

### iD_d8yofiX\Ai4r~.20j ^ ^ \' ^

' • ^TTotarjTPubT

l
CAMtlSMJT H 0 2 No . Mai n St . . Tooete.Uta H M07 4 M y Gommlwlo n Explr

w Osoembe r 3,201 1 RTAT B O F UTAH

_

- 9

-HOLDER :

ATLANTI C RICHFIEL D COMPANY , aDelawar e corporatio n

Dat e Name : ^gfey V 

### Its: W'l^.-y^^Jti.A

# H ^ /^^^/ O

Stat e o f _Ak^]^f = )

Befor e me , anotai y public , i n an d fo r sai d county an d state , personall y appeare d *^()VviVv ^ ^U,lV&df

^ , adul y autiiorize d representativ e o f Atlanti c Richfiel d Company , aDelawar e corporation , wh o acknowledge d t o m e tha t [he/she ] di d execut e th e foregoin g mstrumen t

on behal f o f Atianti c Richfiel d Company
. I N TESTIMON Y WHEREOF , I hav e subscribe d my nam e an d affixe d m y officia l sea l 

### tills \4H > da

y o f IW ^ 20i0
.
Notar y Publi c

1 0 •UTA H DEPARTMEN

T O F ENVIRONMENTA

L QUALIT

Y

Th e Uta h Departmen

t o f Environmenta

l Qualit y authorize d representativ e identified below hereb y approve s th e foregoin g Environmenta l Covenan t pursuan t t o Uta h Cod e Ann
. Section s 57-25-102(2 ) an

d 57-25-104(l)(e)
. B y Name : me:^ren t H
. EverA t Dat e ^Li^2£>/0 Title : Director , Divisio n o f Environmenta

l Respons e an

d Remediation Uta h Departmen

t o f Environmenta

l Qualit y

STAT E OF UTAH )

:ss . Count y o f Sal t Lake ) Befor e me , anotar

y public , i n an d fo r sai d count

y an d state , personally appeare

d Brent H
. Everett , a n authorize d representativ e o f th e Uta h Departmen

t o f Environmenta

l Quality , wh

o acknowledged t o m

e tha t h e di d execute th e foregoing instrumen t thi s J2 /

da y of

Notar y Publi c . M y Commission expires : ^/^^/z^/ /

SSS^M ' U

T 84ai i ••jy^^^wf i dHO U

-11

-

^.UNITE D STATES ENVIRONMENTA L PROTECTIO

N AGENC Y

Th e Unite d State s Environmenta l Protectio n Agency authorize d representativ e identifiedJzfilo w hereb y approve s th e foregoin g Envirorunenta l Covenant
. Dat e Bil l Murray , Directo r Superfund Remedia

l Respons e Progra

m Offic e o f Ecosystem s Protectio n an

d Remediatio n U.S
. Environmenta

l Protectio n Agency , Regio n VIII ^ 

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STAT E O F C O )

:ss . Count y o f [Xv\ue /

) Befor e me , anotar

y public , i

n an d fo r sai d count

y an d state , personall y appeare d Bill Murray , a n authorize d representativ e o f tiie Unite d State s Environmenta l Protectio n Agency , wh

o acknowledge d t o m

e tha t he/she did execute th e foregom g instrument

thi s I ^ da

y o f

Notar y Publi c M y Contunissio

n expires : /-/<>•

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12

-

### Exhibi t A CAPPE D ARE

A LEGA L DESCRIPTIO N A PARCE L O F LAN D LOCATE

D WITHI N TH E NORTHEAS T QUARTE R O F SECTIO N 26 , NORTHWES T QUARTE

R O F SECTIO N 25 , AN D SOUTHWES T QUARTE R O F SECTIO N 24 AL L WITHI N T3S
. R4W , S.L.M. , TOOEL E COUNTY , UTAH , MOR E PARTICULARL

Y DESCRIBE

D A S FOLLOWS : COMMENCIN

G A T TH E SOUTHWES T CORNE

R O F SECTIO N 24 , T3S , R4W , S.L.M. ; THENC E N58° l 8'34" E 1499.5 6 FEE T T O Tl-ff i NORTHEAS T CORNE

R O F PARCELNO
. 1 AN D POIN T O F BEGINNIN G O F TH E PARCE L HEREI N DESCRIBED
. THENC E SOr06'26" W 132.7 0 FEET ; THENC E S50°00'34" W 824.9 5 FEE T T O TH E POIN T OF CURVATUR

E O F A CURV

E T O TH E RIGHT , SAI

D CURV E HAVING A RADIU

S O F 2525.00 FEET ; THENC

E ALON G SAI D CURV E A DISTANC

E O F 447.6 1 FEE

T THROUG

H A CENTRA

L ANGL E OF 10»09'25 " AN

D A LON G CHOR D BEAEON

G O F S55°05'17" W 447.0 2 FEET ; THENC

E S60'>09'59" W 933.9 8 FEET ; THENC E S60°24'lO" W 94.4 3 FEE

T T O TH E POIN T O F CURVATUR

E O F A CURV

E T O TH B RIGITT , SAI D CURV E HAVIN G A RADIUS O

F 765.00 FEET ; THENC

E ALON G SAI D CURV E A DISTANC E O

F 792.40 FEE

T THROUG H A CENTRA

L ANGL E OF 59'^0'52 " AN

D A LON G CHOR D BEARIN

G O F N89°55'24" W 757.4

4 FEET ; THENCE N60°14'58" W 91.94 FEET ; THENCE N28°43'58" E 100.0 2 FEET ; THENC

E S60^14'58" E 93.7 2 FEE

T TO TH E POIN T O F CURVATUR

E O F A CURV E T O TH E LEFT , SAI

D CURV E HAVIN G A RADIU

S O F 665.0 0 FEET ; THENC

E ALON G SAI D CURV E A DISTANCE O

F 688.8 2 FEE

T THROUG

H A CENTRA

L ANGL E OF 59°20'52 " AN

D A LON G CHOR D BEARIN

G O F S89''55'24" E 658.4 3 FEET ; THENC E N60°24'10" E 94J2

2 FEET ; THENCEN60°09'59" E 933.7 8 FEE T T O THE POIN

T O F CURVATUR

E O F A CHJRV

E T O TH E LEFT , SAI

D CURV E HAVIN G A RADIUS O

F 2425.00 FEET ; THENC

E ALON G SAI D CURV E A DISTANC

E O F 429,8 8 FEE T THROUG

H A CENTRA L ANGL E O F ] 0''09'25 " AN

D A LON G CHOR D BEARIN

G O F N55°05'17" E 429.3 2 FEET ; THENC

E N50°00'34" E 912.1 8 FEE T T O TH E POIN T O F BEGINNING
. CONTAIN S 7.2 7 ACRES , MOR

E O R LESS
.

Exhibit

"A " Pag e 1CJirwHCam/iaa L ^ ^

ATUumencwsL D COMTMI T 

# 7 ; ANDERSO N



### 0 1Exhibi t «B " Coveoant s Between th e Holde r an d th e Owne

r an d th e Owner' s Successor s an d Assign s an d An v Subsequeo t

Owner s o

f th e Propert y
Th e Holde r an d the Ovme

i fo r itsel f an d it s successor s an

d assign s agre e t

o the followin

g Covenants whic h shal

l als o bui'de

n th e Propert

y (describe d i n th e foregom g Exliibi t "A" ) an d ax e intended t o bin d Owne

r an d the Owner' s successors an d assign s an d an y subsequen

t owners o f th e Property : 1
. Complianc e Enforcement
. I n addition to an

y otiie r remedie s availabl e a

t la w o r in equity , indudmg , withou t

lunitation , thos e remedie s se t fort h i n §57-25-11 1 o

f ttie Act , Holde

r an d it s representative s ma

y enforc e flie terai s o f

titis Envnonmenta

l Covenan t (including th e Covenants ) b y filing sui t

macour t o f competen t jurisdictio n i n th e Stat

e of Utal i to : (i ) enjoi n actua l o r threatened violations ; (ii ) see k specifi c performance ; and/o r (iii ) see k suc h otiie r lega l o r equitabl e relief a s ma y b e appropriat

e mth e circumstances
. Holde r shal l b e entitle d t o recove

r fromOwne

r and/o r Transferee s an

y lega l fee s an d cost s mcurre

d i n an y suc h proceedings , provide

d tha t i n no even t shal l th e foregoin

g b e deemed to obligat

e EP A o r th e DEQ t

o reimburs e Holde

r o r th e Ownra " and/or Transferee s fo

r suc h fee s an d costs
. 2
. Access
. Holde

r an d it s employees , agents , representative s an d contractors , shal

l hav e th e righ t o f acces s to the Propeit

y a t reasonabl e time s wit

h prio r notic e t o Owne r (wiitten or

oral ) fo r th e purpose s of

: (a ) monitorm

g complianc e wit

h th e term s an

d provision s o f

the Covenants ; (b ) conducting any necessai

y o r advisabl e investigation , monitoring , mamtenanc e and/o r sampling activitie s wit

h respec t to th e Property ; an

d (c ) conductin g an

y environmenta

l respons e action s o

n th e Propert

y that Holder , DEQ , o

r EP A ma y dee mnecessar

y o r advisable t

o addres s envii-omnenta

l condition s o

n the Property , Notliin g in thi s Environmenta l Covenan t shal l unpai r an y othe r authorit y Holder , DEQ , an

d EP A ma y otiiei-wis e hav e t

o enter , inspect

an d perfor m respons e action s o

n th e Pi'opeity
. Upo

n completion o f

an y activitie s o

n the Property , t

o the exten

t reasonabl y practical , th

e Holde r shal l retumthe Propeit

y to substantiall

y th e sam e conditio n i t

was prior t o such entry , provided tiiat suc h condition i s no t

inconsisten

t witi i an y response , monitoring an d maintenanc e o

r othe r activitie s performed o

n flie Property
. 3
. Indemnificatio n of

Owner
. Holde

r agiee s t o indemnif y an d hol d harmles s Owne

r fi'om an y an d al l third-part

y actions , clauns , demands , liabilities , losses , damage s or expenses , including damag e t o the Property , which ma y b e impose d o

n o r incurred b y Owne

r a s aresul t of Holder' s negligent , reckles s o r wiUfu l act s o r omission s relating t o th e Property , except t o th e exten t tha t suc h actions , claims , demands , liabilities , losses , damage s o r expense s result

fiomth e negligent , reckles s o

r wiUfu l act s o r omission s of

Owner
. 4
. Releas e an

d CovenantNott o Sue
. Owner , fo r itself an d an y Transferees , hereb y fiiUy an d irrevocabl y release s an

d covenants no t

t o su e Holde

r an d it s predecessor s an

d successors (whethe

r b y merger , consolidatio n o

r otherwise ) an

d thei r respectiv e affiliates , shareholders , membere , managers , officers , directors , agents , repi'esentatives , contractors , insurers , employees , contractor s an d assign s fo

r an y o f the followmg :
Exhibit

"B " Pag e 1(a ) An y privat e cos t recover y suit , contribution action , o r an y othe r action unde

r environmenta

l law s o r the conmion la

w arisin g ou

t o f o r related to : (i ) an

y environmenta

l condition s on , about , beneath , fi-omo r relate d t o tiie Property , an

d (ii ) implementation of

an y Clean-u p Wor k and/o r lan d us e controls , othe

r applicable governmen

t ordei- s o r an y requirement s of th e applicabl e regulatoiy or peimittin g autiiorit

y relate d t o the envnonmenta

l condition s on , about , beneat

h o r relate d to th e Property ; an

d (b ) An y an d all claims , cause s of

action o r liabilitie s tha

t i t ma y no w hav e o r hereafte r acquir e agains t suc h individual s o

r entitie s fo r an y cost , loss , liability , damage , expense , demand , actio n or caus e of actio n arisin g fiomo

r relate d t o the following : (i ) th e use , operation , developmen

t o r disposition of

th e Property , (ii ) an

y informatio

n provided or

disclosed t

o Owne r b y Holde r relatm g t o th e Property , o

r (iii ) the presenc e o

f hazardou s material s and/o

r wast e on , at , under , nea r o r associate d wit h th e Property
. Provided , however , tha

t in th e even

t an y action , clai

mo r sui t i s asserted agains t

Owne r relatin g to th e environmenta

l condition s tha

t ar e addresse d b

y thi s Environmenta

l Covenant , Owner' s releas e an d covenan t no t t o su e shall b e void as to all alleged liabiHl y asserted agains t

Owne r i n suc h action , clai mo r sui t

Exhibi t "B " Pag e 2Exhibi t "C " Extensio n Are aWor

k De«criptio u Tli e Tooele Valle

y Railroad (TVRR

) wa s constructed i

n 190 9 to connect

tiie Uruo n Pacifi c an

d Wester n Pacific Ihie s a

t Wainej- , Utal

i (west o f Tooel e City) t o th e IS& R smelter- adistanc e o f approximatel

y 7 ntiles
. Th e rail rout

e headed eastbouu

d fi-omth e Warne

r siding , running tiirough tow n t o tiie mout h o f Middl e Canyon
. Shoi-ti

y beyon d Middle Canyon , the rai l rout e spli t wit h th e uppe r track servicin g th e uppe

r eastempar

t o f tiie smelte r an d tiie lowe r trac k goin g t o tiie lowe r wes t are ao f the facility , Th e TVR

R discontinued operation i n 1981
. Shorti y thereafter , the tirack wa s remove

d an d tiie underlyin g propert

y deede d t o adjacen t landowners
. Clean-u

p Wor k t o addres s hazard s relate d t

o residua l wast e materia l wa s completed i n 2005
. On tw o area s alon g th e corridor , wast

e was lef t i n plac e an

d cappe d wit h clea n soil
. During tiie Clean-u

p Wor k aportion o

f tiie rai l gi-ad

e surfac e (Statio n 42+5 0 t

o Statio n 74-+-18

, 3,16 8 ft) wa s capped wit

h 1 2 inche s o

f clea n soil , sid e slope s grade

d an d roc k revetmen t placed
. Prio r to cove r placement

th e existhi g siu-fac

e wa s grade

d t o facilitat e acove r o f consisten t dept h an d t o provid e fo r manage d drainage
. Subsequen t to ca p installation , all disturbe d area s wer e prepai-e d an d seede d wit h nativ e grasses . Full construction detail s ar e availabl e i n th e Tooele Valle y Railroa d Constructio n Completio

n Report
.

Exlubif'C " Pag e 1Exhibi t "D " Titl e Exception s

Exhibit'T) " Page lALT A Cwnmltmen t Schedul e B 11 SCHEDULES-SECTIO N n EXCEPTION S T-2411 7 Th e polic y o rpoiioiesi D b e Issue d wO l cotifBl n exception ? t o th e followin g unlsa s an y of thes e excepSon s ar e dispose d o f t o th a satlsfectlo n o f th e Company

. 1

. Taxe s o rassessment s wliic h ar e not show n a s o^dstln g lien s by Ih e record s of an y taxin g auftorit y tha t levie s taxe s o rassessment s o n rea l pTopeif

y o rby Ih e Publi c Records

. PtocestiBng a b y a puMI c agency , whic h ma y resul t I n taxe s o rassessments , o rnotice s o t suc h proceedings , wh^e ro rno

t show n b y th e record s o

f suc h agenc

y o rby th e Pubi c Flecords

. 2

. An y feels, rights, Jnterssls , o rclaim s whic h ar e n o t show n b y th e Publi c Records , bu t whic h coul d b e ascertaine d by a n Inspectio n of th e Lan d o rb y makin g Inquir

y o f person s I n possessio n thereo t 3

. Easements , Hens , o rencumbranoes , o rdalm s themof , whic h ar e no t show n by th e Publi c Records

. 4

. An y encroadiment , encumbrance , violation , variation , t w advws e drcumstsnc a aPectin g th e TlH e that woul d b e disclose d b y a n accurat e an d complet e tend surve y o f th e Lan d an d rw t show n b y th e PuUl c Records

. 5

. (a ) Unpatente d minin g dalms ; (b ) reserralion s o rexception s i n pBtent B o rI n Act s authorizin g flie issuanc e thereof ; (c ) wate rrights , claims , o rtitl e t o water , whethe ro rno t th e matter s exoepte d unde r(a) , (b ) o r(c ) are show n b y th e Publi c Records

. 6

. An y Ife n o rright l o a He n fbrservtnas , labor , o rmateria l hBretofore o rhereafte rlumlshad , Impose d tr y law an d no t show n b

y th e Publi c Records , 7

. Texe s o

f th e yea - 200 9 are no

w a lien , no t ye t due

. Taxe s o f th e yea r200 8 wer e pai d I n th e amoun t o f $5.19

. Seria l No , 03-033-0-000 4 Taxe s o f th e year200 8 war e pai d I n th e amoun t o f $S.D9 , Ssria l No

. 03-034-0-000 4 Taxe s ofth e year200 B war e pai d I n th e amoun t o f $5.19

. Seria l No

. 03-035-0-001 5 Taxe s o f Ih e yea r20QB wer e pai d t n th e amoun t o f $8.B2

. Seria l No

. 03-033-^000 2 Taxe s o f th e yea r200 8 wer e pai d I n tiie amoun t o f $28.88

. Seria l No

. 03-034-0400 2 TBXB S ofth e yea r200 8 wer e pai d I n th e amoun t o f ^8.63

. Seria l No

. 03-035-040D BSchedul e B-1 1 (continued ) T.2411 7 8 . Sai d propert

y I s situate d withi n th e boundarie s of th e Tooel a Count

y Taxing Distric t10 , an d I s subjec tto sBsessmen tthereof . Sai d assessmen tI

s curren ta tthi s time . (A s to Parcel s 03-033-0 - 0004,03-03S-0-0015an d 03-033-W3002. ) g . Sai d propert

y Is situate d within th e boundarie s ofth e Tooel e Count y Taxing Distric t19 , an d i s subjBol t o assessmen tthereof . Sai d assessmen ti s curren ta tthi s time . (A s t o Parcel s 03-034-0 - 0004,03-034-0-OOO Z an d 03-035-0-0008 . 10 . Rights o f

wa y for roads , ditches , canals , transmfeslo n lines , pip e lines , talecommunicatlc n lines , fibe r optic s an

d utilitie s over , under , an d acros s sai d property . 11 . Sai d propert

y te situate d withi n th e boundarie s o f th e Tooel e Count

y Mosquit o Abatemen tDistrict, an d I B subjec tto asseBsman tthereof . Bal d assessmen ti s cunen ta l thi s time . (A s t a Parcel s 03 - 033-0-O004 , 03-O3B-D-0D1 5 an d 03-O33-O-D002. ) 12 . Sai d propert

y i s situate d withi n th e boundarie s o f th e Nort h Tooat e Count

y Fir e Protacfio n Dlairlol , an d Is subjao tt o assessmen tthereof . Sai d assessmen tIs curren ta tthi e Hme . 13 . Sai d propert

y t $ subleo tl o collectio n fee s an d assessment s b y th e Tooel e County Landtill . (B33-9520 ) 14 . Resenration s an d condiHon s a s dlsdo&s d i n tiie patent s fro

m ti)s Unite

d State s o f Americ a an d th e Stat e o f

Uta h a s reconde d I

n th e followlnf

l Book s en d Pages : 3E/5D4 , No . 1 /42 , en d N o .1/462 . 15 . Th e perpetua

l right, prtvllega , an d easemen tof operatfn a te smelte r a to r nea r th e mout h o f Pin e Canyo n an d of

dischaiBln o gases , fumes , smok e an d an y othe r aubslance e a s ros y b e emhte d withou tIncunin

g llsbtlifles t o th e firstparije s a s grante d b s Uta h Consolidate d Minin

g Company , an d subsequen tBasementB , notlo e o f dalm s o f interes tb y variou s document s o f record atfecCn

g sai d easement . Recorde d i

n Boo k B , pag e 481- 2 o f

Lien s an d Leases , Boo k B , pag e 4a2- 3 o f Lien s an d Leases , Boo k E . pag e 133- tof Bond s an d AgrBemarts , Boo k E . pag e 13 4 o f Bond s an d Agreements . Boo k 3K. pag e 467-7 1 of Deeds , an d subsequen tNotice s o f Interest s recorde d a s Entr y Nos . 2850B1,2951B9 . an d 296225 , raoonie d I n tli e ofiic e o f

th e Tooel e Count

y Recorder . N o examinatio n I

s hereb y mad e a s to th a presen townereh ^ o f sai d easement , notic e o

f claim , o r othe r documeniB pertainin g thereto . 16

. POLfeLINEEASEIVlEN T

Grantor : Grantee : Deted : iteoorded :

. Entr y No. : BooldPage ; Looation/Porpose : Chas

. R

. McBrid e an d wif e Uta h Powe r& Ugh t Compan y Octobers

. 192 6 Septembers

. 193 0 1BBB.4 5 0/464-46 5 (Misc. ) Se e Documen tSchedul e B>-l l (oontlnuBd ) T-2411 7 17 . Subjec tt o iBservatlon a containe d in tha tcertai n Qui tClai m Deed : Qranto r Th e Stat e of Uta h Grantee : IVIsr y Buzianl s Dated : Apri l 3,185 3 Rec»njed : Septembe r 15,195 4 Entr y No. : 23785 2 Book/Psge : 4F/3e 3 18 . Dee d o f

Trustto secur e a n Indebtednes s t n th e amoun tshow n below , an d an y othe r obilgaflon s secure d thereby : Tmstor ; Trustee : Beneficiary ; Amoun t Dated : Recorded : Entr y No. : Book/Page : Gu s D , Buzianl s

Assodate d Ttti e Compan y Zion s Credi t Corporatio n $60,184.56 , plu s interes t Apri l 25,198 9 MBy31,188 9 026B8 1 287/671- 6 19 . Th e effec to

f th e 1B6 8 Familan d /\s8ss6men tAct , wherei n ftare I s a five yea r roll-bac k pixrttelon witl i regar d t o assessmen tan d taxation , whli ^ become s etfectiv e upo n a chang e I n us e o f al) or par tof eliBibl e land , b y reaso n o

f tha tcertai n Annua

l Applicatio n fo r Assessmen tan d Taxatio n o f Agricultura l Lan d recorde d Augus t21 . 2O0 3 a s Entr y No . 20867 6 o f

Tooel e County Reooida . 20 . Th e EflliBc

tof Ui e 106 9 Pamnlan

d Assessmen tAct . wherei n ther e te a tw e yea r roll-baok provisio n wft h regard t o assessmen tan d taxation , whic h beoome s effectiv s upo n a charvje I n us e o f al ) o r par ti7 f eligibl e land , b y reaso n o f

tha tcertai n Annua

l Applicatio n fo r Assessmen tan d Ta>^io n o f Agrtculfuia ) Lan d recorde d Augus t15 , 200 5 a s Entr y No . 24511 5 o f

Tooel e Count

y Records . 21 , EASEMEN T

Grantor i Grantee : Dated ; Reconled : Entr y No. : Boole/Page : G & L Partnershi p

PadflCorp , a n Orego n ootporatlon , db a Uta h Powe r& Ligh t Compan y Febmar y 27,198 0 Marc h 9.199 0 03281 B 300/286 ^ 22 . Subjec tt o th e lac k o f acces s t o a publl o dedicate d road.Schedul e B-I I (continued ) T-2411 7

NOTE : Th e following names weri a oheolca d fo rtax Hen

e en d judgment s I n th e Tooel e Count y Record s an d Court s an d non e wer e foun d o f recor d excep t thos e liste d above

. ZION S FARM , L,C

. NOTE : An y los e o rdamafl e resultin g fro m claim s mad e agains t th e Insure d titl e baee d upo n operafio n of federa l banknjptc y stat e insolvenc

y o rsimila rcreditors rights lews

. NOT E A minimu m Cancellatio n Fe e o f $200.0 0 wil l b e du e an d payabl e t f n o Titl e Polic y ts Issue d followin g receip t o f thi s report
. Sai d Cancellatio n Fsa , whe n pai d wil l b e applie d a s a credi t iDwan l th e premiu m charge s o n th e TlU e Insuranc e Polic y issue d I n connectio n vM t thi s Commitmen t wltlil n si x (6 ) month s o f tti e dat e of thi s CommBment , Tooel e TSlt

e Compan y woul d ilk a t o than k yo u to rtetfln g u s serv e you . I f yo u hav e an y question s regardin g thi s file pl»s e contarrrtth e followin g personne l a t 436..862-1120 : Trtl e Examiner/Officer

. Jerr y Houghto n Escro w OfBce n Aliso n McCo y