Document:

8949\1\801146.7

8949\1\801146.7

                            STOCK PURCHASE AGREEMENT

                                  BY AND AMONG

                            PLATEAU RESOURCES LIMITED

                            CANYON HOMESTEADS, INC.,

                                CACTUS GROUP LLC,

                                      AND

                                 JOSEPH DEFFERT
                                D. PAIGE DEFFERT
                                  ERNST DEFFERT
                                 AILEEN DEFFERT
                                MARTIN VIALPANDO
                              MARY EILEEN VIALPANDO

                              DATED AUGUST 1, 2003

8949\1\801146.7

<PAGE>

                            STOCK PURCHASE AGREEMENT

     This  STOCK  PURCHASE  AGREEMENT  (the  "AGREEMENT")  is entered into as of
August  1,  2003,  by  and  among Cactus Group LLC, a Colorado limited liability
company  ("CGL"),  Joseph  Deffert,  D.  Paige  Deffert,  Ernst  Deffert, Aileen
Deffert,  Martin  Vialpando  and  Mary  Eileen  Vialpando  (each,  a "BUYER" and
collectively,  the  "BUYERS"),  Canyon Homesteads, Inc., a Utah corporation (the
"COMPANY"),  and  Plateau  Resources  Limited,  a  Utah  corporation  (the
"SHAREHOLDER").

                                    RECITALS

     A. The Shareholder owns 4,478 shares of the outstanding common stock of the
Company  (the  "SHARES"),  which  Shares  constitute  all  of  the  issued  and
outstanding  shares  of  capital  stock  of  the  Company.

     B.  The  Buyers,  through their wholly owned entity, CGL, desire to acquire
from  the  Shareholder  and the Shareholder desires to sell to the Buyers all of
the  Shares,  on  the  terms  and  subject  to  the conditions set forth in this
Agreement  (the  "ACQUISITION").

     C.  The  Board  of  Directors  of  the  Company and the Shareholder and the
members  of  CGL  shall  have  approved  and  adopted  this  Agreement  and  the
transactions  contemplated  hereby.

                                    AGREEMENT

     NOW,  THEREFORE,  in  consideration of the premises and the mutual promises
herein  made,  and  in  consideration  of  the  representations,  warranties and
covenants in this Agreement, CGL, the Company and the Shareholder (individually,
a  "PARTY"  and  collectively,  the  "PARTIES")  agree  as  follows:

                                    ARTICLE 1
                         DEFINITIONS AND INTERPRETATIONS

     1.1  DEFINITIONS.  Capitalized  terms  used  in  this  Agreement,  but  not
otherwise  defined  herein,  shall  have  the  meaning  set  out  below:

     "ACTION"  means  any  judicial  or  administrative  action,  claim,  suit,
investigation,  hearing,  demand  or  proceeding  by  or before any Governmental
Authority

     "AFFILIATE"  has  the  meaning  set  forth in Rule 12b-2 of the regulations
promulgated  under  the  Securities  Exchange  Act  of  1934,  as  amended.

     "AGREEMENT"  means  this  Stock  Purchase  Agreement.

     "ASSETS"  has  the  meaning  set  forth  in  Section  4.10.
                                                  -------------

     "CLOSING"  has  the  meaning  set  forth  in  Section  2.4.
                                                   ------------
"CLOSING  DATE"  has  the  meaning  set  forth  in  Section  2.7.
                                                    ------------

     "CODE"  means  the Internal Revenue Code of 1986, as amended, and the rules
and  regulations  promulgated  thereunder.

     "CONTRACTS"  has  the  meaning  set  forth  in  Section  4.14.
                                                     -------------

     "DEED  OF  TRUST" means that certain deed of trust executed by CGL relating
to  the  properties  and  improvements in such form reasonably acceptable to the
Shareholder.

     "EFFECTIVE  DATE"  means  August  1,  2003.

     "ENVIRONMENT"  means soil, land surface or subsurface strata, real property
(excluding  buildings,  other  structures  or  fixtures thereon), surface waters
(including  navigable  waters, ocean waters, streams, ponds, drainage basins and
wetlands),  groundwater,  water  body  sediments,  drinking water supply, stream
sediments,  plant  and animal life and any other environmental medium or natural
resource.

     "ENVIRONMENTAL  LAW"  means  any  federal,  state  or  local law, including
regulations  promulgated  thereunder,  or  common  law  relating  to  emissions,
discharges,  releases or threatened releases of pollutants, petroleum, petroleum
products,  contaminants,  chemicals  or  toxic or hazardous substances or wastes
into  the environment, including ambient air, soil, surface water, ground water,
wetlands,  land  or subsurface strata, or otherwise relating to the manufacture,
processing,  distribution,  use,  treatment,  storage,  disposal,  transport  or
handling  of  pollutants, petroleum, petroleum products, contaminants, chemicals
or  toxic  or  hazardous  substances  or  wastes.

     "ENVIRONMENTAL LIABILITY(IES) AND COST(S)" means all Liabilities and losses
incurred (i) to comply with any Environmental Law, (ii) as a result of a Release
of  any Hazardous Substance or (iii) as a result of any environmental conditions
present  at,  created by or arising out of the past or present operations of the
Company  and  its  business  through  the  Effective  Date.

     "ENVIRONMENTAL  PERMITS" mean any permit, registration, filing, approval or
authorization  from  any  Governmental Authority required under, issued pursuant
to,  or  authorized  by  any  Environmental  Law.

     "ENVIRONMENTAL  REPORT"  means  the  Environmental  Assessment  Report  for
Ticaboo,  Utah  prepared on behalf of Shareholder by Jay W. Davis dated July 23,
2003,  provided  by Shareholder to CGL and Buyers prior to the execution of this
Agreement.

     "EXCLUDED  ASSETS"  means  those  assets  set  forth  on Exhibit A attached
                                                              ---------
hereto.

     "EXCLUDED  LIABILITIES"  means  the  following  Liabilities of the Company,
relating to any period on or prior to the Effective Date: (i) any liabilities or
obligations of the Company with respect to any debt or trade payable (other than
accounts payable or debt of the Company which have been incurred in the Ordinary
Course  of  Business  and  are  outstanding  as of the Effective Date), (ii) any
liabilities  or obligations of any officer or employee of the Company, or of the
Shareholder  or  its  Affiliates  that  provided services to or on behalf of the
Company, (iii) any costs of any such employees, including without limitation any
accrued  vacation,  sick  leave, COBRA obligations, personal time, and any other
prerequisites  (including  accrued bonuses), (iv) any liabilities or obligations
with  respect to worker's compensation claims (v) any Taxes, including any Taxes
resulting  from  the  transactions  contemplated  hereby, and (vi) the Company's
relationship, contractual or otherwise, with the subtenant at Pier 84, (vii) the
pending  litigation between the Company and Phil Snyder, as further described on
Schedule  4.15  ("SNYDER  LITIGATION"),  and  (viii)  Company's  relationship,
--------------
contractual  or  otherwise,  with  Ticaboo  Townsite  Joint  Venture.

     "ERISA"  means  the  Employee  Retirement  Income  Security Act of 1974, as
amended.

     "GAAP"  means  United States generally accepted accounting principles as in
effect  on  the  date  hereof.

     "GOVERNMENTAL  AUTHORITY"  means  the  United States of America, any Indian
tribe,  any  state or other political subdivision thereof, any entity exercising
executive,  legislative,  judicial, regulatory or administrative functions of or
pertaining  to  government, or any court, tribunal, arbitrator or arbitral body.

     "GUARANTY  AGREEMENT"  means  the  Guaranty  Agreement, by and between each
Buyer  and  the  Shareholder, in a form reasonably acceptable to CGL, Buyers and
the  Shareholder.

     "HAZARDOUS  SUBSTANCE"  means, collectively, (i) any petroleum or petroleum
products,  explosives,  radioactive  materials, asbestos, urea formaldehyde foam
insulation,  and  transformers  or other substances that contain polychlorinated
biphenyls,  (ii) any chemicals or other materials or substances that are defined
as  or included in the definition of "hazardous substances," "hazardous wastes,"
"hazardous  materials,"  "extremely  hazardous  wastes,"  "restricted  hazardous
wastes," "toxic substances," "toxic pollutants," "contaminants," "pollutants" or
words of similar import under any Environmental Law and (iii) any other chemical
or  other  material  or  substance,  exposure to which is prohibited, limited or
regulated  under  any  Environmental  Law.

     "INDEBTEDNESS"  means,  with respect to any Person, any and all obligations
of  such  Person  (i)  for  borrowed  money,  (ii)  evidenced  by  notes, bonds,
debentures  or similar instruments, (iii) under or relating to letters of credit
(including  any obligation to reimburse the letter of credit issuer with respect
to  amounts  drawn on such instruments), (iv) for the deferred purchase price of
goods  or  services  (other than trade payables or accruals incurred and paid in
the Ordinary Course of Business), (v) under capital leases, (vi) with respect to
bank  overdrafts or otherwise reflected as negative cash in financial statements
of  such  Person,  (vii)  for  deferred  compensation, (viii) to pay any accrued
dividends  or  dividends that have otherwise been declared and not yet paid, and
(ix)  in  the  nature  of guarantees of the obligations described in clauses (i)
through  (viii)  above  of  any  other  Person.

     "INVESTMENTS"  means  (i)  any share of capital stock, partnership or other
equity  interest, evidence of Indebtedness or other security issued by any other
Person,  (ii)  any  loan,  advance,  prepayment  or  extension  of credit to, or
contribution  to  the capital of, any other Person, (iii) any acquisition of all
or  any  part  of the business of any other entity or the assets comprising such
business  or  part thereof, (iv) any commitment or option to make any investment
or  (v)  any  other  similar  investment.

     "KNOWLEDGE"  means  a  Person's  actual  knowledge  after  reasonable
investigation,  including  the  knowledge  of a particular fact or matter by any
executive  officer  employed  by  or  serving  a  Person; provided, however, the
Company's  knowledge  shall  mean  the actual knowledge of only Mark Larsen, Hal
Herron  and  Daryl  Winters.

     "LAWS"  means  all  laws, statutes, rules, regulations, codes, injunctions,
judgments,  orders, decrees, ruling, interpretations, constitutions, ordinances,
common  law  or  treaties  of  any federal, state, local, municipal and foreign,
international  or  multinational  Government  Authority.

     "LIABILITY"  means  any  liability or obligation (whether known or unknown,
whether  asserted or unasserted, whether absolute or contingent, whether accrued
or  unaccrued,  whether liquidated or unliquidated, whether incurred directly or
consequentially  and  whether due or to become due), including any liability for
Taxes.

     "MATERIAL  ADVERSE  EFFECT"  means a material adverse effect on the Party's
business,  financial  condition,  operations,  results  of  operations.

     "ORDINARY  COURSE  OF  BUSINESS"  means  the  ordinary  course  of business
consistent with past custom and practice (including with respect to quantity and
frequency).

     "PERSON" means an individual, a partnership, a limited liability company, a
corporation, an association, a joint stock company, a trust, a joint venture, an
unincorporated organization, or a governmental entity (or any department, agency
or  political  subdivision  thereof).

     "PROMISSORY  NOTE"  means  that  certain  secured  promissory  note  in the
principal  amount  of  $3,003,200.00  payable  to  the  Shareholder  in  a  form
reasonably  acceptable  to  the  Shareholder.

     "PURCHASE  PRICE"  has  the  meaning  set  forth  in  Section  2.2.
                                                           ------------

     "PROPERTY(IES)"means  collectively  the  Real  Property  and  Assets of the
Company.

     "REAL  PROPERTY"  has  the  meaning  set  forth  in  Section  4.10.
                                                          -------------

     "RELEASE"  means  any  actual,  threatened  or  alleged  spilling, leaking,
pumping,  pouring,  emitting,  dispersing,  emptying,  discharging,  injecting,
escaping,  leaching,  dumping  or  disposing of any Hazardous Substance into the
Environment  that  may  cause an Environmental Liability and Cost (including the
disposal  or  abandonment  of  barrels,  containers,  tanks or other receptacles
containing  or  previously  containing  any  Hazardous  Substance).

     "SCHEDULES"  has  the  meaning  set  forth  in  Article  3.

     "SECURITY  AGREEMENT"  means  that certain Security Agreement, by and among
the  CGL,  the  Company and the Shareholder in the form reasonably acceptable to
the  Shareholder.

     "SECURITY  INTEREST" means any mortgage, pledge, lien, encumbrance, charge,
claim,  equitable  interest, restriction on transfer or other security interest,
other than (a) mechanic's, materialmen's, and similar liens, securing payment of
sums not yet due and payable, (b) liens for Taxes not yet due and payable or for
Taxes  that  the  taxpayer  is  contesting  in  good  faith  through appropriate
proceedings  and  (c) other liens arising in the Ordinary Course of Business and
not  incurred in connection with the borrowing of money as set forth on Schedule
4.14.

     "TAX"  means  any federal, state, local, or foreign income, gross receipts,
license,  payroll,  employment,  excise,  severance, stamp, occupation, premium,
windfall profits, capital gain, intangible, environmental (including taxes under
Code  Section  59A),  customs  duties,  capital  stock,  franchise,  profits,
withholding,  social  security  (or  similar),  unemployment,  disability,  real
property,  personal  property,  sales, use, transfer, registration, value added,
alternative  or  add-on minimum, estimated, or other tax of any kind whatsoever,
including  any  interest, penalty, or addition thereto, whether disputed or not,
and any obligation to indemnify, assume or succeed to the liability of any other
Person  in  respect  to  the  foregoing.

     "TAX  RETURN"  means  any  federal,  state,  local,  or  foreign  return,
declaration,  report,  claim  for  refund,  or  information  return or statement
relating  to  Taxes, including any schedule or attachment thereto, and including
any  amendment  thereof.

     "TITLE COMPANY" means South Eastern Utah Title Company located 175 East 100
South,  P.O.  Box  855,  Price,  Utah  84501.

     "TREASURY  REGULATION"  or "TREAS. REG." means the proposed, temporary, and
final  regulations  promulgated  under  the  Code.

     1.2  Terms  denoting  the  singular only shall include the plural, and vice
versa.

     1.3  Unless  otherwise  stated, a reference to a Recital, Article, Section,
Schedule  or  Exhibit is a reference to a Recital, Article, Section, Schedule or
Exhibit  of  this  Agreement.

     1.4 Section numbers and headings are for convenience of reference only, and
shall  not  affect  the  interpretation  of  this  Agreement.

     1.5  Reference  to  any  gender  includes  the  other.

     1.6 Reference to "including" means including, but not by way of limitation.

     1.7  Unless otherwise expressly provided in this Agreement, reference to an
Agreement  (including  this  Agreement),  document, or instrument is the same as
amended,  modified,  novated  or  replaced  from  time  to  time.

     1.8  Reference  to  a  statute  or  other  legislative  act,  by-law, rule,
regulation,  or  order is to the same as amended, modified or replaced from time
to  time  and to any rule, regulation or order promulgated pursuant to such law.

                                    ARTICLE 2
                 PURCHASE AND SALE; INITIAL DELIVERIES; CLOSING

     2.1  PURCHASE  AND  SALE.  Upon  the  basis  of  the  representations  and
warranties,  for  the  consideration,  and  subject  to the terms and conditions
hereof,  the  Shareholder agrees to sell, convey, transfer and deliver to CGL at
the  Closing  (as  defined in Section 2.4 below), and CGL agrees to purchase and
accept  from  the  Shareholder at the Closing, effective as of the Closing Date,
the  Shares  free  and  clear  of  any  and  all  Security  Interests.

     2.2  PURCHASE  PRICE.  Subject to the adjustments set forth in Section 2.3,
the  aggregate  purchase  price  for  the  Shares  shall  be  $3,470,000.00 (the
"PURCHASE  PRICE"),  and  shall  be  payable  to  the  Shareholder  as  follows:

          a.  Within  five  (5)  business days following the Effective Date, CGL
shall  wire  at least one-half of an amount equal to $466,800 (the "Deposit") to
the  Title  Company.  The  remainder  of  the Deposit will be wired to the Title
Company  within  ten  (10)  business  days  following  the Effective Date. Title
Company  shall  place  the  Deposit  in an insured, interest-bearing account. If
prior  to  Closing,  this  Agreement  is terminated pursuant to Section 11.1(c),
$100,000  of  the  Deposit  shall  be  transmitted  by  the  Title  Company  to
Shareholder,  with the balance transmitted to CGL. At Closing, the Deposit shall
be  released  from  escrow to the Shareholder pursuant to certain escrow closing
instructions  to  be  delivered  by  CGL  to  the  Title  Company;  and

          b.  At  Closing,  CGL  shall  deliver the Promissory Note, dated as of
the  Closing Date, to the Shareholder, as well as the Security Agreement and the
Deed  of  Trust,  and  each  Buyer  shall  deliver  a  Guaranty  Agreement.

     2.3     INTENTIONALLY  DELETED.

     2.4     TITLE  COMMITMENT  AND  SURVEY.

          a.     Title  Insurance  Commitment.  The Shareholder has delivered to
                 ----------------------------
the  Buyers  and  CGL,  a  commitment  (the  "TITLE  COMMITMENT") from the Title
Company.  CGL  shall  deliver  a Lender's title insurance policy to Shareholder.
Buyers  and CGL and Shareholder shall share the cost of the Title Commitment and
Lender's  title  insurance  policy  equally.

          b.     Surveys.  The  Shareholder  shall deliver to the Buyers and CGL
                 -------
any boundary and improvement surveys of the Property in the Shareholder's or the
Company's  possession.

     2.5  WATER  RIGHTS.  The  Shareholder  has  provided the Buyers and CGL all
information  it  and  the  Company  have in their possession related to sanitary
sewer  and  other information with respect to the water rights, well permits and
other  documentation  related  to  adequacy  of  water  supply for the Property.

     2.6  UTILITIES  AND  POWER. The Shareholder has provided the Buyers and CGL
with  all  information  and  documentation  it  and  the  Company  have in their
possession  related  to  the  adequacy  of  power  and  utilities to service the
operation  of  the  Property,  including  without  limitation,  all  information
pertaining  to  power  generators  and  the  like.

     2.7  TENANT  RELATIONSHIPS. Within ten (10) days following the date hereof,
the  Shareholder shall provide the Buyers and CGL with any financial information
of subtenants of the Property within its or the Company's possession. Within ten
(10)  days  prior  to  the  Closing Date, the Shareholder shall use commercially
reasonable  efforts  to  have  the  following  subtenants  execute  estoppel
certificates  confirming that such subtenant's lease is in full force and effect
and that neither the tenant nor the Company is in default under their applicable
lease:  (i) Slick Rock Services, Inc., sublease dated June 1, 2003; (ii) Stephen
Lama,  sublease  for  Motel  Room  No. 112 dated March 27, 2001; and (iii) Wendy
Schmitz,  sublease  for  restaurant  and  bar  dated March 15, 2003. Each of the
foregoing  subleases  shall  also  be  assigned to the Company as of the date of
Closing.

     2.8 CLOSING. The closing of the transactions contemplated by this Agreement
(the  "CLOSING") shall take place at the offices of Davis Graham & Stubbs LLP in
Denver,  Colorado,  commencing  at 9:00 a.m., local time, or at such other place
and  time  as  is  agreed  upon by the Parties, on August 12, 2003 or as soon as
practicable thereafter following the satisfaction or waiver of all conditions to
the  obligations  of  the  Parties  to consummate the transactions contem-plated
hereby  (other  than  conditions  with respect to actions the respective Parties
will  take at the Closing itself) or such other date as the Parties may mutually
determine  (the "CLOSING DATE"). Notwithstanding the actual date of the Closing,
the  Closing  shall be effective for accounting purposes as of the 11:59 p.m. on
the  date  immediately  preceding  the  Effective  Date.

                                    ARTICLE 3
                      REPRESENTATIONS AND WARRANTIES OF THE
                                  SHAREHOLDER

     The  disclosure schedules (the "SCHEDULES") contemplated by this Article 3,
Article  4  and  Article  5  will  be arranged to correspond to the numbered and
lettered  sections  contained  in Article 3, Article 4 and Article 5 and will be
delivered  concurrently  with  the  execution  of  this  Agreement.

     As a material inducement to the Buyers and CGL to enter into this Agreement
and  consummate the transactions contemplated hereby, the Shareholder represents
and  warrants  to  the  Buyers  and  CGL  as  follows:

     3.1     ORGANIZATION,  QUALIFICATION, AND CORPORATE POWER.  The Shareholder
is a corporation duly organized, validly existing and in good standing under the
laws of the State of Utah and has the corporate power to own its property and to
carry on its business as now being conducted.  The Shareholder is duly qualified
and/or  licensed,  as  may  be  required,  and  in  good standing in each of the
jurisdictions  in  which  the  nature  of  the  business  conducted by it or the
character  of  the property owned, leased or used by it makes such qualification
and/or licensing necessary, except in such jurisdictions where the failure to be
so  qualified  and/or licensed would not individually or in the aggregate have a
Material  Adverse  Effect  on  the  Company  or  the  Shareholder.

     3.2  NO LIENS ON SHARES. The Shareholder is the beneficial and record owner
of  all  of  the  Shares free and clear of any Security Interests other than the
rights  and  obligations  arising  under  this  Agreement except as disclosed on
Schedule  3.2.  No Share is subject to any outstanding option, warrant, call, or
similar  right  of any other Person to acquire the same, and no Share is subject
to  any  restriction  on  transfer  thereof,  except for restrictions related to
registration  of  the  Shares  under the Securities Act of 1933, as amended (the
"SECURITIES  ACT").  The  Shareholder has full power and authority to convey the
Shares,  free  and  clear of any Security Interests. Upon Closing, CGL will hold
the  entire  equity  interest  in  the  Company,  free and clear of all Security
Interests, other than those Security Interests to be created by the transactions
contemplated  by  this Agreement or Security Interests otherwise created by CGL.

     3.3  AUTHORIZATION  OF  TRANSACTION.  The  Shareholder has the full limited
liability  company  power  and  authority  to  execute, deliver and perform this
Agreement  and to carry out the transactions contemplated hereby. The execution,
delivery  and  performance  of  this  Agreement  and  the  consummation  of  the
transactions  contemplated  hereby  have been duly and validly authorized by all
requisite  limited  liability  company action of the Shareholder. This Agreement
has  been  duly  and  validly  executed  and  delivered  by  the Shareholder and
constitutes  the  valid  and  legally  binding  obligation  of  the Shareholder,
enforceable against the Shareholder in accordance with its terms and conditions,
subject,  as  to  enforcement,  to  bankruptcy, insolvency, fraudulent transfer,
moratorium,  reorganization  and other laws of general applicability relating to
or  affecting  creditors'  rights  and  to  general  equity  principles.

     3.4 NONCONTRAVENTION. Except for filings, permits, authorizations, consents
and approvals, all of which are set forth on Schedule 3.4, neither the execution
                                             ------------
and  delivery  of  this Agreement by the Shareholder nor the consummation by the
Shareholder  of  the  transactions  contemplated  herein  nor  compliance by the
Shareholder  with  any of the provisions hereof will (i) conflict with or result
in  any  breach  of  the articles of incorporation or bylaws of the Shareholder,
(ii)  result  in  a  violation  or  breach of any provisions of, or constitute a
default  (or  an  event  which,  with  notice  or  lapse  of time or both, would
constitute  a  default) under, or result in the termination, cancellation of, or
accelerate  the  performance required by, or result in a right of termination or
acceleration  under, or result in the creation of any Security Interest upon any
of  the  properties  or  assets of the Shareholder, or require the notice to any
Person  under,  any  of  the  terms, conditions or provisions of any note, bond,
mortgage, indenture, deed of trust, license, contract, lease, agreement or other
instrument  or  obligation of any kind to which the Shareholder is a party or by
which  the  Shareholder's properties or assets, may be bound or (iii) subject to
compliance  with  applicable  Utah  corporate  laws,  the  Securities  Act  and
applicable "blue sky" laws, violate Laws applicable to the Shareholder or any of
the Shareholder's properties or assets. Except as set forth on Schedule 3.4, the
                                                               ------------
Shareholder  is not required by applicable Laws or other obligations to give any
notice  to,  make  any  filing  with,  or  obtain  any authorization, consent or
approval  of  any  Governmental  Authority  or  other  Person  in  order for the
consummation  by  the  Parties  of  the  transactions  contemplated  herein.

     3.5  CLAIMS AND PROCEEDINGS. Except as set forth on Schedule 3.5, there are
                                                         ------------
no  Actions  pending  or, to the Shareholder's Knowledge, threatened against the
Shareholder  that would reasonably be expected to have a Material Adverse Effect
on  the  Company  or  the  Shareholder,  or  that  question the validity of this
Agreement  or  of  any  action taken or to be taken pursuant to or in connection
with  the  provisions  of this Agreement nor, to the Shareholder's Knowledge, is
there  any  fact  (past or present), situation, circumstance, status, condition,
activity , practice, plan occurrence, event, incident, action, failure to act or
transaction  that  could  reasonably be expected to form the basis of an Action.
The  Shareholder  is  not  subject  to  any order, judgment, writ, injunction or
decree  of  any  Governmental Authority which, individually or in the aggregate,
has  a  Material  Adverse  Effect  on  Shareholder.

     3.6 BROKER'S FEES. Except as set forth on Schedule 3.6, the Shareholder has
                                               ------------
no Liability to pay any fees or commissions to any broker, finder, or agent with
respect  to  the transactions contemplated by this Agreement for which CGL could
become  liable.

     3.7  POWERS  OF  ATTORNEY.  There  are  no  outstanding  powers of attorney
executed  on  behalf  of  Shareholder  in  respect  of  the  Shares.

     3.8  DISCLOSURE.  The  representations  and  warranties  contained  in this
Article 3 (including the Schedules to this Agreement and any other schedules and
exhibits  required  to  be  delivered  by  the Shareholder to the Buyers and CGL
pursuant  to this Agreement) and any certificate furnished or to be furnished by
the  Shareholder  to  the  Buyers  and CGL hereunder do not contain and will not
contain  any  untrue  statement  of  material  fact  or  omit  to state any fact
necessary  in  order  to  make  the statements and information contained in this
Section  3  not misleading. To the Shareholder's Knowledge, there is no material
fact  relating  to  the  Shareholder  (other  than  general economic or industry
conditions)  which  may  have  a  Material  Adverse Effect on the Company or the
Shareholder  or  materially effect the ability of the Shareholder to perform any
of its material obligations hereunder which has not been disclosed in writing in
this  Agreement  to  the  Buyers  or  CGL  by  the  Shareholder.

                                    ARTICLE 4
                      REPRESENTATIONS AND WARRANTIES OF THE
                                    COMPANY

     As a material inducement to the Buyers and CGL to enter into this Agreement
and  consummate the transactions contemplated hereby, the Company represents and
warrants  to  the  Buyers  and  CGL  as  follows:

     4.1  ORGANIZATION,  QUALIFICATION,  AND  CORPORATE  POWER. The Company is a
corporation duly organized, validly existing and in good standing under the laws
of  the  State  of  Utah  and has the corporate power to own its property and to
carry  on  its  business  as  now being conducted. The Company is duly qualified
and/or  licensed,  as  may  be  required,  and  in  good standing in each of the
jurisdictions  in  which  the  nature  of  the  business  conducted by it or the
character  of  the property owned, leased or used by it makes such qualification
and/or licensing necessary, except in such jurisdictions where the failure to be
so  qualified  and/or licensed would not individually or in the aggregate have a
Material  Adverse  Effect  on  the  Company.

     4.2  CAPITALIZATION.  As  of  the  date  of  this Agreement, the authorized
capital  stock  of the Company consists of 20,000 shares of common stock, no par
value,  of  which  4,478  are  issued  and  outstanding.  This  4,478 issued and
outstanding  shares of common stock consist of all the Shares and constitute all
of the issued and outstanding shares of capital stock of the Company. The Shares
are  held  beneficially  and  of  record by the Shareholder. No shares of common
stock  are  held  in  the  treasury  of  the  Company. The Shares have been duly
authorized,  validly  issued,  are  fully  paid  and  nonassessable  and free of
preemptive rights. None of the Shares were issued in violation of the Securities
Act or applicable "blue sky" laws. There are no outstanding options, warrants or
other  rights to subscribe for, purchase or acquire from the Company any capital
stock  of the Company or securities convertible into or exchangeable for capital
stock of the Company. Immediately following the Closing, CGL will own the entire
ownership  interest  of  the  Company.

     4.3  AUTHORIZATION OF TRANSACTION. The Company has the full corporate power
and  authority  to  execute, deliver and perform this Agreement and to carry out
the transactions contemplated hereby. The execution, delivery and performance of
this Agreement and the consummation of the transactions contemplated hereby have
been  duly  and  validly  authorized  by  all  requisite corporate action of the
Company.  This Agreement has been duly and validly executed and delivered by the
Company and constitutes the valid and legally binding obligation of the Company,
enforceable  against  the  Company  in accordance with its terms and conditions,
subject,  as  to  enforcement,  to  bankruptcy, insolvency, fraudulent transfer,
moratorium,  reorganization  and other laws of general applicability relating to
or  affecting  creditors'  rights  and  to  general  equity  principles.

     4.4 NONCONTRAVENTION. Except for filings, permits, authorizations, consents
and approvals, all of which are set forth on Schedule 4.4, neither the execution
                                             ------------
and  delivery  of  this  Agreement  by  the  Company nor the consummation by the
Company  of  the  transactions contemplated herein nor compliance by the Company
with any of the provisions hereof will (i) conflict with or result in any breach
of  the  articles  of  incorporation  or bylaws of the Company, (ii) result in a
violation  or  breach of any provisions of, or constitute a default (or an event
which,  with notice or lapse of time or both, would constitute a default) under,
or  result  in  the  termination, cancellation of, or accelerate the performance
required  by,  or  result  in  a  right of termination or acceleration under, or
result  in  the  creation of any Security Interest upon any of the Properties of
the  Company  or  require  the  notice  to  any  Person under, any of the terms,
conditions  or provisions of any note, bond, mortgage, indenture, deed of trust,
license,  Contracts,  lease,  agreement or other instrument or obligation of any
kind  to  which the Company is a party or by which the Company's Properties, may
be  bound,  or  (iii) subject to compliance with applicable Utah corporate laws,
the  Securities  Act  and applicable "blue sky" laws, violate Laws applicable to
the  Company  or  any of the Company's properties or assets, other than any such
event  described  in  items  (i),  (ii) or (iii) which would not (x) prevent the
consummation  of  the  transactions  contemplated  hereby or (y) have a Material
Adverse  Effect on the Company. Except as set forth on Schedule 4.4, the Company
                                                       ------------
is  not  required by applicable Laws or other obligations to give any notice to,
make  any  filing  with, or obtain any authorization, consent or approval of any
Governmental  Authority  or  other  Person  in order for the consummation by the
Parties  of  the  transactions  contemplated  herein.

     4.5  REVENUE  AND OPERATING COST SUMMARIES. Attached hereto as Schedule 4.5
                                                                    ------------
are  the  Company's  monthly  revenue  and operating cost summaries covering the
period  from  January  1,  2000  to  June  30,  2003 (collectively, the "Revenue
Summaries").  The Revenue Summaries have been prepared consistent with the books
and  records  of the Company and the Shareholder and are correct and complete in
all  material respects, present fairly the financial condition of the Company as
of  such  dates  and  the results of operations of the Company for such periods.

     4.6  SUBSEQUENT  EVENTS;  CORPORATE  TRANSACTIONS.  Except  as set forth on
Schedule 4.6, since June 30, 2003, the Company has conducted its business in the
------------
Ordinary  Course of Business and has not (a) suffered a Material Adverse Effect;
(b)  incurred  any  Liabilities  that  would  reasonably  be  expected to have a
Material  Adverse Effect on the Company; (c) incurred any Indebtedness or become
the  guarantor  or  otherwise  liable  for  any  Indebtedness of any Person, (d)
suffered  any  change  in its relationship with any of the suppliers, customers,
distributors,  lessors,  licensors, licensees or other third parties which would
reasonably  be  expected  to  have a Material Adverse Effect on the Company; (e)
waived  any  claims  or  rights of material value; (f) sold, leased, licensed or
otherwise  disposed of any of its Property, other than in the Ordinary Course of
Business;  (g) amended, modified or terminated any material contract to which it
is  or  was  a  party;  (h)  suffered any creation or imposition of any Security
Interest  upon  any of the Company's Property or suffered any occurrence, event,
incident,  action, omission or transaction which could reasonably be expected to
materially affect the ability of the Company to hold its Property free and clear
of  all  Security  Interests, (i) incurred any capital expenditure (or series of
related  capital expenditures) involving more than $25,000 in the aggregate, (j)
incurred  any  Investment  in,  loan  to or any acquisition of the securities or
assets  of  any  other  Person which exceeds $25,000, (k) permitted any delay or
postponement  of  accounts payable or any other Liabilities outside the Ordinary
Course  of  Business, (l) declared any dividend or distribution (whether in case
or  in  kind)  or  repurchase, redemption or retirement of any securities of the
Company,  (m)  suffered  any  damage,  destruction  or  loss (whether covered by
insurance)  to  the  Property  of the Company, which damage, destruction or loss
singly  or  in  the aggregate exceeds $25,000, (n) entered into any agreement or
transaction  with  an  Affiliate  of  the Company or (o) committed pursuant to a
legally  binding  agreement  to  do  any  of  the  things  set  forth  above.

     4.7 LEGAL COMPLIANCE. Except as set forth on Schedule 4.7, to the Company's
                                                  ------------
knowledge,  the  Company  is in compliance with all applicable Laws currently in
effect,  except  where non-compliance would not reasonably be expected to have a
Material  Adverse  Effect on the Company. The Company has received no notices of
any  noncompliance  with  any  applicable  Laws.

     4.8  ABSENCE  OF  UNDISCLOSED  LIABILITIES.  The Company has no Liabilities
except  for  (i)  Liabilities reflected on the Revenue Summaries, or any related
balance  sheets  provided  by  the  Shareholder  to  the  Buyers  and  CGL, (ii)
Liabilities  under  Contracts  listed  on  Schedule  4.14,  (iii) Liabilities in
                                           --------------
connection  with  Actions disclosed on Schedule 4.15. (none of which have had or
                                       -------------
could  reasonably  be expected to have a Material Adverse Effect on the Company)
or (iv) Liabilities which have arisen since the date of the Revenue Summaries in
the  Ordinary  Course  of  the  Business.

     4.9  TAX  MATTERS.

          a.  The  Company's  Tax Returns are filed on a consolidated basis with
its  parent  companies. To the extent of the Company's information, all such Tax
Returns  were  correct  and complete in all material respects. All Taxes owed by
the  Company  shown  on  any  Tax Return have been paid in a timely fashion. The
Company  currently  is not the beneficiary of any extension of time within which
to  file  any  Tax  Return.  The Company has not received written notice from an
authority  in a jurisdiction where the Company does not file Tax Returns that it
is  or  may  be  subject to taxation by that jurisdiction. There are no Security
Interests  on any of the assets of the Company that arose in connection with any
failure  (or  alleged  failure)  to  pay  any  Tax.

          b.  The  Company  has withheld and paid all material Taxes required to
have  been  withheld  and  paid  in  connection with amounts paid or owed to any
independent  contractor,  creditor,  shareholder,  or  other  third  party.

          c.  There  is  no dispute or claim concerning any Tax Liability of the
Company  either  (i) claimed or raised by any authority in writing or (ii) as to
which  the  Company  has  Knowledge.

          d. The Company has not waived any statute of limitations in respect of
Taxes  or  agreed  to  any extension of time with respect to a Tax assessment or
deficiency.

          e.  The  Company  has  not  been a United States real property holding
corporation  within  the meaning of Code Section 897(c)(2) during the applicable
period  specified  in  Code  Section  897(c)(1)(A)(ii).

          f. The Company does not have any Liability for the Taxes of any Person
(other  than  the  Company)  under  Treas. Reg. Section 1.1502-6 (or any similar
provision  of  state,  local,  or foreign law), as a transferee or successor, by
contract,  or  otherwise.

     4.10  PROPERTIES/ASSETS.

     a.  Attached  hereto  as  Schedule 4.10(a) is a legal description of all of
                               ----------------
the  Company's  interests  in  real  property  (including,  without  limitation,
leasehold  interests)  used or occupied by it in the conduct of the business, as
well  as  a  list reflecting the Company's good faith understanding of all other
related  real  property interests (the "REAL PROPERTY"). Except as expressly set
forth  on  Schedule 4.10(a)the Title Commitment, or applicable zoning, land use,
           ----------------
or  similar  restrictions,  such  Real  Property  is  free and clear of Security
Interests  and  is  not subject to any rights of way, building use restrictions,
exceptions,  variances  or limitations which interfere with the use of such Real
Property  in  the  conduct of the business. All Real Property leases used in the
conduct of the business are described in Schedule 4.10(a), are in full force and
                                         ----------------
effect,  the Company holds a valid and existing leasehold interest under each of
the  leases  for  the  terms  set  forth  on  such Schedule and any and all rent
payments  owing under the leases have been paid to date, except as expressly set
forth  on  Schedule  4.10(a). The Company has not received written notice of any
           -----------------
default  under  the  leases  and  the Company is not in default under any of the
leases.  No person has the right to terminate or accelerate performance under or
otherwise  modify  (including upon the giving notice or the passage of time) any
of  such  leases,  except in accordance with the provisions thereof. The Company
has  provided  CGL  with true and correct copies of all the Real Property leases
listed  on  Schedule 4.10(a), including any amendments or modifications thereto.
            ----------------

          b.  Attached  hereto  as  Schedule 4.10(b) is a list containing a good
                                    ----------------
faith  estimate  description  of  each  of  the  Company's  assets, tangible and
intangible,  owned  or  leased, having a value exceeding $10,000, located on its
premises,  used  in  the  conduct of the Company's business, other than the Real
Property  (the  "ASSETS").  Schedule  4.10(b)is  a  good faith estimate of other
                            -----------------
assets  of  the  Company owned as of the Effective Date (other than the Assets).
All  Assets  are conveyed by Shareholder "AS IS, WHERE IS", and without warranty
of any nature from the Shareholder or Company. The Company has good title to, or
a  valid  leasehold  interest  or  related rights in, all of the Assets free and
clear of all Security Interests, except for (a) minor imperfections of title and
encumbrances  that  do  not materially detract from or materially interfere with
the present use or value of such assets; and (b) Security Interests disclosed on
Schedule  4.14.
 -------------

     4.11  SUBSIDIARIES AND INVESTMENTS. The Company does not have and has never
had any Subsidiaries. Except as set forth on Schedule 4.11, the Company does not
                                             -------------
have  any  Investments.

     4.12  LICENSES  AND  PERMITS.  The  Company  has  the governmental permits,
licenses  and  authorizations set forth on Schedule 4.12. Such permits, licenses
                                           -------------
and  authorizations  are  in  full  force  and  effect.

     4.13  INSURANCE.  Attached  hereto  as  Schedule  4.13  is a list and brief
                                             --------------
description  of  all  policies  of  fire, casualty, liability, property or other
forms  of insurance and all fidelity bonds held by or applicable to the Company,
and  as  amended or modified to date. The Company is not in default with respect
to  its obligations under any of such insurance policies or bonding arrangements
and  the  Company  has  not  received  any  notification  of  cancellation  or
modification  of  any  of such insurance policies or bonding arrangements nor is
any  claim  outstanding  which could be expected to cause a material increase in
the Company's insurance rates. The consummation of the transactions contemplated
by this Agreement will not result in the termination of such insurance policies.
Schedule  4.13  sets  forth  a  description  of  any  self-insurance
--------------
arrangements  maintained  by  the  Company.

     4.14  CONTRACTS.  Schedule  4.14  contains  a  list  of all written or oral
                       --------------
contracts,  commitments,  leases,  and  other  agreements  (including,  without
limitation,  promissory  notes,  loan  agreements,  and  other  evidences  of
indebtedness,  guarantees,  agreements  with  distributors,  suppliers, dealers,
franchisers  and  customers,  and  service agreements) to which the Company is a
party  or  by  which  the  Company  or  its  properties are bound, including all
contracts  (a)  concerning  a  partnership  or  joint  venture,  (b)  concerning
noncompetition  or otherwise creating or proposing to create any restrictions on
the  Company's  ability  to  engage  in  any  business  or  to  operate  in  any
geographical area, (c) regarding an agreement between the Company and any of its
Affiliates,  (d)  concerning  any  profit sharing, option, purchase or any other
similar  plan  permitting  the  acquisition  of  capital  stock  in the Company,
deferred  compensation,  severance  or other similar plan or arrangement for the
benefit of its current or former directors, officers or employees, (e) regarding
any  employment  agreement  or  consulting  agreement  or providing severance or
retirement  benefits,  (f)  pursuant  to  which the consequences of a default or
termination  could  have a Material Adverse Effect on the Company, (g) which are
service contracts and equipment leases used in connection with the operation and
maintenance  of the Property and/or (h) regarding any personal guarantees of the
foregoing  (collectively,  the  "CONTRACTS").  Except  as  set forth on Schedule
                                                                        --------
4.14, each Contract is legal, valid, binding, enforceable, and in full force and
----
effect,  and  the  Company  is  not  in  material breach or default, and, to the
Company's  Knowledge,  the other party to the Contract is not in material breach
or  default  of  and  no  event has occurred which, with notice or lapse of time
would  constitute  a  material  breach  or  default,  or  permit  termination,
modification,  or  acceleration,  under  the  Contract.

     4.15  CLAIMS  AND  PROCEEDINGS. Except as set forth on Schedule 4.15, there
                                                            -------------
are  no  Actions  pending or, to the Company's Knowledge, threatened against the
Company.  To  the  Company's  Knowledge  there  are  no facts (past or present),
situations,  circumstances, conditions, activities, omissions, practices, plans,
occurrences,  events or transactions that could reasonably be expected to be the
basis  for  an  Action. The Company is not subject to any order, judgment, writ,
injunction  or  decree of any Governmental Authority which would have a Material
Adverse  Effect  on  the  Company.

     4.16  EMPLOYEES  AND  LABOR  MATTERS.  The  Company  has  no  employees.

     4.17  ENVIRONMENTAL  MATTERS.  Except  as  set  forth  in the Environmental
Report,  the  Company has materially complied and is in material compliance with
all  Environmental  Laws.  There  are  no  Actions  pending or, to the Company's
Knowledge, threatened against the Company in respect of (i) noncompliance by the
Company  with  any  Environmental Laws, (ii) the Release into the Environment of
any  Hazardous  Substance  by  the  Company or (iii) the handling, storage, use,
transportation  or  disposal  of  any  Hazardous  Substance  by the Company. The
Company  has obtained and complied, and is in compliance, with all Environmental
Permits.  The  Company  has  not  received  any  written notice, report or other
written  information  regarding any actual or alleged violation of Environmental
Laws  or  any  Liabilities  or potential Liabilities (whether accrued, absolute,
contingent,  unliquidated or otherwise) thereunder, including any investigatory,
remedial  or  corrective  obligations,  relating  to  the  Company or any of its
facilities,  arising  under  Environmental Laws. Except as set forth on Schedule
                                                                        --------
4.17  or the Environmental Report, the Company has not treated, stored, disposed
----
of,  arranged for or permitted the presence, disposal of, transport, handling or
Release of any Hazardous Substance, or owned, leased or operated any property or
facility  in  a  manner  that  has  given  or  would  give rise to Environmental
Liabilities  and  Costs,  including any Liability for response costs, corrective
action  costs,  personal  injury,  property damage, natural resources damages or
attorneys'  fees,  pursuant  to  any Environmental Laws.  Except as set forth on
Schedule  4.17 or the Environmental Report, none of the Property is contaminated
--------------
by  any  Hazardous  Substance.  The  Company  has  not,  either  expressly or by
operation  of  law,  assumed,  undertaken  or  otherwise  become  subject to any
Liability,  including  any  obligation for corrective or remedial action, of any
other  Person  relating to Environmental Laws.  To the Knowledge of the Company,
no  facts,  events  or  conditions  relating  to the past or present facilities,
properties  or  operations  of  the  Company  (or its predecessors or Affiliates
insofar  as  they  affect  the  Company and the Assets) are reasonably likely to
prevent,  hinder  or  limit continued compliance with Environmental Laws or give
rise  to  any  investigatory,  remedial  or  corrective  obligations pursuant to
Environmental  Laws.

     4.18  AFFILIATE  TRANSACTIONS.  Except  as  set forth on Schedule 4.18 (the
                                                              -------------
"AFFILIATE  TRANSACTIONS"),  the  Company  is  not  a  party  to or bound by any
contract,  commitment  or  understanding with any of its directors, officers, or
any  other  Affiliates  of  the  Company,  and none of such directors, officers,
Affiliates  or other Persons owns or otherwise has any rights to or interests in
any  asset,  tangible or intangible, which constitutes a part of the Property or
is  used  in  or  related  to  the  Company's  business.

     4.19  BROKER'S FEES. Except as set forth on Schedule 4.19, the Company does
                                                 -------------
not  have any Liability to pay any fees or commissions to any broker, finder, or
agent  with respect to the transactions contemplated by this Agreement for which
CGL  could  become  liable.

     4.20  NO  ILLEGAL  PAYMENTS,  ETC.  Neither  the  Company  nor  any  of its
Affiliates,  directors, officers, employees or agents has directly or indirectly
given  or  agreed  to  give  any  illegal gift, contribution, payment or similar
benefit  to  any  supplier, customer, governmental official or employee or other
Person  who  was,  is  or  may be in a position to help or hinder the Company or
assist  in connection with any actual or proposed transaction, or made or agreed
to  make  any  illegal contribution, or reimbursed any illegal political gift or
contribution  made  by  any  other  Person, to any candidate for federal, state,
local or foreign public office (i) which could reasonably be expected to subject
the  Company  to  any  damage  or penalty in any civil, criminal or governmental
litigation  or proceeding or (ii) the non-continuation of which has had or could
reasonably  be  expected  to  have  a  Material  Adverse  Effect on the Company.

     4.21 BOOKS AND RECORDS. The books, company records and financial records of
the  Company  are  complete  and  correct in all material respects and have been
maintained  in  accordance  with the Company's past business practices and Laws.
The  Company has provided the Buyers and CGL with true and correct copies of the
Company's  books,  records  and  financial  records.

     4.22  POWERS  OF  ATTORNEY.  There  are  no  outstanding powers of attorney
executed  on  behalf  of  the  Company  in respect of the Company, its Property,
Liabilities,  or  the  Shares.

     4.23  DISCLOSURE.  The  representations  and  warranties  contained in this
Article 4 (including the Schedules to this Agreement and any other schedules and
exhibits  required  to be delivered by the Company to the Buyers or CGL pursuant
to  this  Agreement)  and  any  certificate  furnished or to be furnished by the
Company  to  the Buyers or CGL hereunder do not contain and will not contain any
untrue  statement  of material fact or omit to state any fact necessary in order
to  make  the  statements  and  information  contained  in  this  Article  4 not
misleading.  There  is no material fact relating to the Company which may have a
Material  Adverse  Effect on the Company or materially effect the ability of the
Company  to perform any of its material obligations hereunder which has not been
disclosed  in  writing  in  this  Agreement to the Buyers or CGL by the Company.

                                    ARTICLE 5
                      CGL'S REPRESENTATIONS AND WARRANTIES

     As  a  material inducement to the Shareholder and the Company to enter into
this  Agreement and consummate the transactions contemplated hereby, the Company
and  each  Buyers jointly and severally represent and warrant to the Company and
the  Shareholder  as  follows.

     5.1  ORGANIZATION.  CGL  is  a  limited  liability  company duly organized,
validly  existing  and  in good standing under the laws of Colorado. CGL is duly
authorized  to  conduct  business and is in good standing under the laws of each
jurisdiction,  in  which  the  nature  of  the  business  conducted by it or the
character  of  the  property  owned,  leased  or used by it makes such qualified
and/or  licensing necessary, except in such jurisdiction where the failure to be
so  qualified  and/or licensed would not individually or in the aggregate have a
Material  Adverse  Effect  on  CGL.

     5.2  AUTHORIZATION  OF  TRANSACTION.  CGL  has  the  full limited liability
company power and authority to execute and deliver this Agreement and to perform
its  obligations  hereunder.  The  execution,  delivery  and performance of this
Agreement,  and the consummation of the transactions contemplated hereby, by CGL
has  been duly and validly authorized by all requisite limited liability company
action.  This  Agreement constitutes the valid and legally binding obligation of
CGL  and  the  Buyers  enforceable against them in accordance with its terms and
conditions,  subject,  as  to  enforcement,  to  bankruptcy,  insolvency,
reorganization  and other laws of general applicability relating to or affecting
creditors'  rights  and  to  general  equity  principles.

     5.3 NONCONTRAVENTION. Except for filings, permits, authorizations, consents
and approvals, all of which are set forth on Schedule 5.3, neither the execution
                                             ------------
and  the  delivery  of  this Agreement, nor the consummation of the transactions
contemplated  hereby,  will  (a)  violate any constitution, statute, regulation,
rule,  injunction, judgment, order, decree, ruling, charge, or other restriction
of  any  Governmental  Authority  to  which CGL or the Buyers are subject or any
provision  of  the certificate of formation or operating agreement of CGL or (b)
conflict  with, result in a breach of, constitute a default under, result in the
acceleration of, create in any party the right to accelerate, terminate, modify,
or  cancel,  or  require any notice to any Person under any agreement, contract,
lease,  license, instrument, or other arrangement to which CGL or any Buyer is a
party  or  by  which  they are bound or to which any of their assets is subject,
except in each case for such violations, conflicts, breaches or defaults that do
not  have  a  Material  Adverse  Effect on CGL or any Buyer. Neither CGL nor any
Buyer is not required to give any notice to, make any filing with, or obtain any
authorization,  consent,  or approval of any Governmental Authority in order for
the  Parties  to  consummate  the  transactions  contemplated by this Agreement.

     5.4  BROKERS'  FEES. Neither CGL nor any Buyer has any Liability to pay any
fees  or  commissions  to  any  broker,  finder,  or  agent  with respect to the
transactions  contemplated  by  this  Agreement  for which the Shareholder could
become  liable.

     5.5  LITIGATION.  There  are no Actions pending or, to CGL's or any Buyer's
Knowledge,  threatened  against  or  affecting  CGL  or  any  Buyer  that  would
reasonably be expected to have a Material Adverse Effect on CGL's or any Buyer's
performance  under  this  Agreement  or  the  consummation  of  the transactions
contemplated  hereby. There are no injunctions, decrees or unsatisfied judgments
outstanding  against  or  related  to CGL or any Buyer that could interfere with
CGL's or any Buyer's ability to consummate the transactions contemplated by this
Agreement.

     5.6 INVESTIGATION BY BUYERS. Prior to the Closing, the Buyers and CGL shall
have directly and through their representatives, at the Buyers' sole expense, in
cooperation  with  the management of the Company, made such investigation of the
Company  as  the  Buyers  and  CGL deemed necessary or advisable, and each Buyer
acknowledges  that  he  or  she is and shall be relying solely on his or her own
investigation and the representations and warranties contained in this Agreement
and  the  Schedules  in  deciding  on  the  value of the Company and deciding to
proceed  with  the  purchase  of  the  Shares.  Further,  each  Buyer  expressly
represents that he or she (i) prior to the Closing Date, has had the opportunity
to  have exercised due diligence in his or her examination of the affairs of the
business  of  the  Company,  and  (ii)  has  not relied on any representation or
warranty  by the Shareholder or the Company, or its respective agents, officers,
or employees, in entering into this Agreement, except as may be expressly stated
or  provided  herein  and  the  Schedules.

     5.7  HELD FOR INVESTMENT. The Buyers, through CGL, are acquiring the Shares
pursuant  to  this  Agreement  for  investment  only  and not with a view to the
distribution  thereof  in violation of federal or state securities laws. CGL and
the  Buyers  understand  that  the  Shares  have  not  been registered under the
Securities  Act,  or  under  any  applicable  "blue  sky"  laws and must be held
indefinitely  unless  such  securities  are  subsequently  registered  under the
Securities  Act  and  such  state laws or an exemption from such registration is
available.

     5.8 FUNDS. At the Closing, the Buyers or CGL will have, sufficient funds on
hand  or  available  pursuant to unconditional commitments to pay the portion of
the  Purchase  Price  set  forth  in  Section  2.2(a).

     5.9  DISCLOSURE.  The  representations  and  warranties  contained  in this
Article 5 (including the Schedules to this Agreement and any other schedules and
exhibits  required  to  be delivered by the Buyers and CGL to the Shareholder or
the  Company  pursuant to this Agreement) and any certificate furnished or to be
furnished  by the Buyers and CGL to the Shareholder and the Company hereunder do
not  contain  and will not contain any untrue statement of material fact or omit
to  state  any  fact  necessary  in order to make the statements and information
contained  in  this Article 5 not misleading. There is no material fact relating
to  the  Buyers or CGL which may have a Material Adverse Effect on the Buyers or
CGL  or  materially  effect  the  ability of the Buyers or CGL to perform any of
their material obligations hereunder which have not been disclosed in writing in
this  Agreement  to  the  Shareholder  and  the  Company  by  the Buyers or CGL.

                                    ARTICLE 6
                              PRE-CLOSING COVENANTS

     6.1  The  Parties  agree  as follows with respect to the period between the
date  hereof  and  the  Closing  Date:

          a.  GENERAL.  Each of the Parties will use its commercially reasonable
efforts  to take all action and to do all things necessary, proper, or advisable
in  order to consummate and make effective the transactions contemplated by this
Agreement (including satisfaction, but not waiver, of the closing conditions set
forth  in  Article  8).

          b.  NOTICES AND CONSENTS. Each of the Parties will give any notices to
third  parties,  and  will  use  its reasonable best efforts to obtain any third
party  consents,  that  the  other Party may request and as required pursuant to
Schedule  8.1(f).
----------------

          c.  REGULATORY  MATTERS  AND  APPROVALS. The Parties shall prepare and
submit for filing any and all applications, filings, and registrations with, and
notifications  to,  all  Governmental  Authorities  required  on the part of the
Company or the Shareholder for the Acquisition to be consummated as contemplated
by  this  Agreement. Thereafter, all Parties shall pursue all such applications,
filings,  registrations,  and  notifications  diligently  and in good faith, and
shall  file  such  supplements,  amendments,  and  additional  information  in
connection  therewith  as  may be reasonably necessary for the Acquisition to be
consummated  at  the  Closing  Date.

     6.2     PRESERVATION  AND OPERATION OF THE BUSINESS.  At all times prior to
the  Closing,  the  Company and the Shareholder will use commercially reasonable
efforts  to keep the Company, its business and Property substantially intact and
operate  the  Company in the Ordinary Course of the Business, except for actions
required  or  permitted  to  be  taken  pursuant  to  Article  6.

          6.3  TRANSFER  OF  SHARES.  The Shareholder will not sell or otherwise
     dispose  of any of the Shares. The Shareholder will not grant any rights to
     purchase  or  obtain  (including  upon conversion, exchange or exercise) or
     otherwise  control  any  Shares.

          6.4  ACCESS  TO  INFORMATION.  Upon  reasonable  notice and subject to
     applicable  laws  relating  to the exchange of information, the Company and
     the Shareholder shall afford to CGL and CGL Principals and their authorized
     representatives,  access  during  normal  business  hours during the period
     prior  to  the  Closing  Date,  to  all of the Company's Properties, books,
     Contracts,  commitments  and records for the purpose of updating any review
     of  such  items  performed  prior to the date of this Agreement and, during
     such period, the Company and the Shareholder shall make available all other
     information concerning its business, Properties and personnel as CGL or the
     CGL  principals  may  reasonably  request.

          6.5  PIER 84 SUBLEASES. Prior to Closing, the Shareholder shall obtain
     from  principals  of  Pier Marine Inc., d/b/a Pier 84 ("PIER 84") a written
     commitment  to  cooperate in an operational transition of the boat service,
     boat  storage services and the convenience store operations to CGL pursuant
     to the terms and conditions of that certain letter agreement dated July 29,
     2003  from Hal Herron to Pier 84 (the "LETTER AGREEMENT"). In addition, the
     Shareholder  shall  obtain  written  Lease  Termination  Agreements for the
     following  subleases:  oral  lease  agreement pertaining to the Model Home,
     that certain written sublease dated April 1, 2001 with respect to a portion
     of  the Ticaboo Boat Storage Facility, that certain sublease dated April 1,
     2000 with respect to a portion of the Ticaboo Boat Center, and that certain
     sublease  dated  April  1,  2001  with  respect to a portion of the Leapin'
     Lizard Convenience Store. In the event that lease payments for the month of
     August,  2003  (C-Store)  and August/September, 2003 (Boat Service and Boat
     Storage)  are  not  timely  paid  to the Company in full as required by the
     Letter  Agreement,  such amounts shall be offset against the next principal
     installment  owing  under  the  Promissory  Note.

          6.6  ENVIRONMENTAL  REPORT/REMEDIATION.  The  Environmental  Report
     identifies a "release of diesel fuel at the powerhouse." Within thirty (30)
     days  following  the Closing Date, the Shareholder shall (i) remediate this
     release  by removing contaminated soils and disposing of them in accordance
     with  applicable  legal requirements, and (ii) procure a third party review
     and  field inspection of the remediation by the author of the Environmental
     Report prior to backfilling the area where the contaminated soils have been
     removed  (collectively,  the  "REMEDIATION  WORK").  In  the  event  the
     Shareholder  fails  to  perform  the  foregoing Remediation Work within the
     thirty (30) period set forth above, CLG may obtain a reasonable estimate to
     have such Remediation Work performed by a third party consultant acceptable
     to  CGL  and  the  cost  thereof shall be offset against the next principal
     installment  owing  under  the  Promissory  Note.

                                    ARTICLE 7
                              POST-CLOSING COVENANT

     7.1 FURTHER ASSURANCE. From time to time after the Closing, the Shareholder
will  timely  execute  and  deliver  to  CGL such instruments of sale, transfer,
conveyance,  assignment  and  delivery, and such consents, assurances, powers of
attorney  and  other  instruments,  as may be reasonably requested by CGL or its
counsel  in  order  to  vest  in CGL all right, title and interest in and to the
Shares  and  otherwise  in  order  to  carry  out the purpose and intent of this
Agreement.  In  addition,  the  Parties  agree  that  if,  at any time after the
Closing,  any further action is necessary or desirable to carry out the purposes
of this Agreement, each of the Parties will take such further action and execute
and  deliver  any  document  and  instrument  as  any other Party reasonably may
request,  all  at  the sole cost and expense of the requesting Party (unless the
requesting  Party  is  entitled  to  indemnification therefor under Article 10).

     7.2  SALE  PROCEEDS. CGL agrees to pay, and shall cause the Company to pay,
to  the  Shareholder the net sale proceeds from the Company's sale of all single
family  home  lots ("SFH Lots") and mobile home lots ("MH Lots") included in the
Real  Property,  until  and  to  the extent that such sales (utilizing the gross
sales  proceeds  of  each  sale)  equal  an  aggregate  $210,000.00  ("Threshold
Amount"), provided that any related sales expenses are reasonable and customary.
CGL  and  the  Buyers  shall  notify, and shall cause the Company to notify, the
Shareholder  when  any SFH Lots or MH Lots are sold, and transmit the applicable
net sales proceeds to the Shareholder promptly thereafter. After the Company has
satisfied  the  Threshold  Amount,  CGL and the Buyers agree that 75% of the net
proceeds  of any sales of SFH Lots or MH Lots beyond such Threshold Amount shall
be applied directly to a reduction of the principal amount outstanding under the
Promissory  Note  until  such  Promissory Note is fully repaid. If CGL or Buyers
transfer  the Capital Stock of the Company or substantially all of the assets of
the Company to a third party, CGL and the Buyer shall pay to the Shareholder any
unpaid  balance  of  the  Threshold  Amount.

     7.3  TICABOO  LODGE CREDITS. CGL hereby grants, and shall cause the Company
to  grant,  to  Shareholder  and  its  designees 1,000 room night credits at the
Ticaboo  Lodge from the Effective Date through the date that the Promissory Note
is  fully  repaid,  each of which credits shall be valued at 50% of the standard
room  rate  on the night which such credit is used, but in no event greater than
$50.00  ("Credits").  The  value of the Credits shall be calculated on a monthly
basis  and CGL and the Buyers shall cause the Company to provide the Shareholder
with  a monthly report detailing the value of the Credits used and the remaining
balance  of  unused  Credits.  The  Parties agree that the Credits used shall be
applied  against  the  outstanding  principal  amount under the Promissory Note.
Notwithstanding  anything herein to the contrary, if the Ticaboo Lodge is at 85%
occupancy or greater, Credits shall be valued at 100% of the standard room rate.

     7.4  CERTAIN  TAX  MATTERS.

          a. TAX PERIODS ENDING ON OR BEFORE THE EFFECTIVE DATE. The Shareholder
shall  prepare  or  cause  to  be prepared and file or cause to be filed, at the
Shareholder's expense, all Tax Returns for the Company for all periods ending on
or prior to the Effective Date which are filed after the Effective Date. Subject
to  CGL  signing a confidentiality agreement with the Shareholder and its parent
company, the Shareholder shall permit CGL to review and comment on each such Tax
Return  described  in  the  preceding  sentence prior to filing. The Shareholder
shall  reimburse  CGL  for any Taxes of the Company with respect to such periods
within  15  days after payment by CGL or the Company of such Taxes to the extent
such  Taxes  are  not  reflected in the reserve for Tax Liability (excluding any
reserve  for  deferred  Taxes  established to reflect timing differences between
book  and  Tax  income)  shown  in  any balance sheet related to such liability.

          b.  COOPERATION  ON  TAX  MATTERS.

               (i)  Each  of  the  Parties  shall cooperate fully, as and to the
     extent reasonably requested by another Party, in connection with the filing
     of  Tax  Returns  pursuant to this Section 7.6 and any audit, litigation or
     other  proceeding  with  respect  to Taxes. Such cooperation shall include,
     without  limitation, the retention and (upon the other Party's request) the
     provision  of  records and information which are reasonably relevant to any
     such  audit,  litigation or other proceeding and making employees available
     on  a  mutually  convenient  basis  to  provide  additional information and
     explanation  of any material provided hereunder. The Shareholder agrees (1)
     to retain or cause to be retained all books and records with respect to Tax
     matters  pertinent  to the Company relating to any taxable period beginning
     before  the  Effective  Date  until  the  expiration  of  the  statute  of
     limitations  (and,  to  the  extent notified by CGL or the Shareholder, any
     extensions  thereof) of the respective taxable periods, and to abide by all
     record retention agreements entered into with any taxing authority, and (2)
     to  give CGL reasonable written notice prior to transferring, destroying or
     discarding any such books and records and, if the other Parties so request,
     shall allow the other Parties to take possession of such books and records.

               (ii)  The  Parties  further  agree,  upon  request,  to use their
     commercially reasonable efforts to obtain any certificate or other document
     from  any Governmental Authority or any other Person to mitigate, reduce or
     eliminate  any  Tax  that  could  be imposed (including with respect to the
     Transaction).  c. CERTAIN OTHER TAX LIABILITIES. All transfer, documentary,
     sales,  use,  stamp,  registration and other such Taxes and fees (including
     any  penalties and interest) incurred by or assessed against the parties in
     connection  with  the  transfer  of  the  Shares pursuant to this Agreement
     (including  transfer  or similar Tax imposed in any states or subdivisions)
     shall  be  paid  by  the Shareholder when due, and the Shareholder will, at
     their  own  expense, file all necessary Tax Returns and other documentation
     with  respect  to  all  such  transfer,  documentary,  sales,  use,  stamp,
     registration  and other Taxes and fees, and, if required by applicable Law,
     CGL  and the Company will join in the execution of any such Tax Returns and
     other  documentation.

     7.5  PLATTING OF LOTS The Shareholder agrees to perform, within ninety (90)
days  following  the  Closing  Date,  all  necessary  actions  required  by  any
applicable  governmental  entities  with  respect  to  the  surveying  and legal
platting  of  that  certain  unplatted  property  apart  which the model home is
located, into six platted home lots. To the extent that the Shareholder does not
complete  the  platting of such lots within the ninety (90) day period set forth
above,  CGL  shall  endeavor  to have such lots platted and the cost incurred in
connection  therewith  shall  be  offset against the next principal and interest
installments  owing  under  the  Promissory  Note.

     7.6  COMPANY  SOFTWARE.  The  Company  shall  continue  to use the business
software  systems  in use as of the Effective Date until such time as the entire
balance of the Promissory Note is paid in full. If CGL or Buyers wish to revise,
change  or  upgrade the business software systems in use by the Company prior to
the  payment  in  full  of  the  Promissory  Note, CGL and Buyers shall do so in
consultation  with  Shareholder, and any change in the business software used by
the  Company  shall  be subject to the prior written consent of the Shareholder,
such  consent  not  to  be  unreasonably  withheld  or  delayed.

                                    ARTICLE 8
                        CONDITIONS TO OBLIGATION TO CLOSE

     8.1  CONDITIONS  TO OBLIGATION OF THE BUYERS AND CGL. The obligation of the
Buyers  and  CGL  to  consummate  the  transactions  to  be performed by them in
connection  with  the  Closing  is  subject  to  satisfaction  of  the following
conditions:

          a.  The  Company  and  the  Shareholder  shall  have  performed in all
material  respects  all  obligations and agreements and complied in all material
respects  with  all  covenants  contained  in this Agreement to be performed and
complied  with  by  each  of  them  prior  to  or  at  the  Closing  Date.  The
representations  and  warranties of the Company and the Shareholder set forth in
this  Agreement shall be true and correct at and as of the Closing Date with the
same  force  and  effect as though made on and as of the Closing Date except (i)
for  any  changes resulting from activities or transactions which may have taken
place  after  the  date  hereof  and  which are permitted or contemplated by the
Agreement, (ii) for such matters as would not, individually or in the aggregate,
have  a  Material  Adverse  Effect  on  the  Company to the extent that any such
representation  and warranty is expressly made as of another specified date and,
as  to  such  representation  or  warranty,  the  same  shall be true as of such
specified  date.

          b.  All  statutory  requirements  for  the  valid  consummation by the
Company  and  the Shareholder of the transactions contemplated by this Agreement
and  the  Acquisition shall have been fulfilled and all authorizations, consents
and  approvals  including  all of the third-party consents specified in Schedule
                                                                        --------
8.1(f),  and  those  of  all Governmental Authorities required to be obtained in
------
order  to  permit  the  consummation  of  the  Acquisition  and the transactions
contemplated  hereby  shall  have been obtained in form and substance reasonably
satisfactory  to CGL. All approvals of the Board of Directors of the Company and
the  Shareholder  necessary  for  the  consummation  of  this  Agreement,  the
Acquisition  and  the transactions contemplated hereby shall have been obtained.

          c.  No  Action  shall  be  pending  or  threatened before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction  or  before  any  arbitrator  wherein  an  unfavorable  injunction,
judgment, order, decree, ruling, or charge would (i) prevent consummation of any
of  the  transactions  contemplated  by  this  Agreement,  (ii) cause any of the
transactions  contemplated  by  this  Agreement  to  be  rescinded  following
consummation,  or (iii) affect adversely the right of the CGL to own the capital
stock  of  the  Company  and  to  control  the  Company.

          d.  The  Company  and  the Shareholder shall have delivered to Buyer a
certificate  to  the  effect  that  each of the conditions specified in Sections
                                                                        --------
8.1(a)-(c)  is  satisfied  in  all  respects.
----------

          e.  The  Company shall have delivered to CGL and the Buyers (i) a copy
of  the  articles  of  incorporation  of the Company certified by an appropriate
authority of the jurisdiction of its incorporation, (ii) a copy of the bylaws of
the  Company  certified by the Secretary thereof, (iii) the books and records of
the  Company,  (iv)  a  copy of the resolutions of the Board of Directors of the
Company  and  the  Shareholder  approving  the transactions contemplated by this
Agreement  certified  by  the  Secretary  thereof,  and (v) certificates of good
standing/existence  of the Company certified by and appropriate authority of the
jurisdiction  issuing  such  certificate.

          f.  The  Shareholder  shall  have procured all governmental approvals,
consents or authorization and third party consents specified on Schedule 8.1(f).
                                                                ---------------

          g.  Each  director  and officer of the Company shall have executed and
delivered  a  resignation  letter  for  such  positions  held  with the Company.

          h.  The  following  additional  documents  shall  be  delivered at the
Closing  by  the  Company  and  the  Shareholder:

               (i) Payoff of the two existing bank Loans and an executed release
of  the  existing  deeds  of  trust  ("TRUST  RELEASE").

               (ii)  The stock certificates representing the Shares, accompanied
by  duly  executed  stock  powers;

provided,  however,  that  Shareholder  shall retain all Shares in escrow at the
offices  of  Shareholder's  legal  counsel  as security for the Promissory Note,
which  shall  be  released  to CGL upon full and final payment of the Promissory
Note.

CGL  and  the Buyers may waive any condition specified in this Section 8.1 if it
                                                               -----------
executes  a  writing  so  stating  at  or  prior  to  the  Closing.

     8.2  CONDITIONS  TO  OBLIGATION  OF  THE  COMPANY  AND THE SHAREHOLDER. The
obligation  of the Company and the Shareholder to consummate the transactions to
be  performed by it in connection with the Closing is subject to satisfaction of
the  following  conditions:

          a.  CGL  shall have performed in all material respects all obligations
and  agreements  and  complied  in  all  material  respects  with  all covenants
contained  in  this Agreement to be performed and complied with by them prior to
or  at the Closing Date.  The representations and warranties of CGL set forth in
this  Agreement shall be true and correct at and as of the Closing Date with the
same  force  and  effect as though made on and as of the Closing Date except (i)
for  any  changes resulting from activities or transactions which may have taken
place  after  the  date  hereof  and  which are permitted or contemplated by the
Agreement, (ii) for such matters as would not, individually or in the aggregate,
have  a Material Adverse Effect on the CGL, or (iii) to the extent that any such
representation  and warranty is expressly made as of another specified date and,
as  to  such  representation  or  warranty,  the  same  shall be true as of such
specified  date.

          b. All statutory requirements for the valid consummation by CGL of the
transactions  contemplated by this Agreement and the Acquisition shall have been
fulfilled  and  all  authorizations, consents and approvals including all of the
third-party consents specified in Schedule 8.2(g), and those of all Governmental
                                  ---------------
Authorities  required  to be obtained in order to permit the consummation of the
Acquisition and the transactions contemplated hereby shall have been obtained in
form  and  substance  reasonably satisfactory to the Company and the Shareholder
unless  such  failure  shall  not  have  a  Material Adverse Effect on CGL.  All
approvals  of  the  members  of  CGL  necessary  for  the  consummation  of  the
Acquisition, this Agreement, and the transactions contemplated hereby shall have
been  obtained.

          c.  No  Action  shall  be  pending  or  threatened before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction  or  before  any  arbitrator  wherein  an  unfavorable  injunction,
judgment, order, decree, ruling, or charge would (i) prevent consummation of any
of  the  transactions  contemplated  by  this  Agreement,  (ii) cause any of the
transactions  contemplated  by  this  Agreement  to  be  rescinded  following
consummation,  or (C) affect adversely the right of CGL to own the Shares and to
control  the  Company.

          d. CGL shall have delivered to the Company a certificate to the effect
that each of the conditions specified in Sections 8.2(a)-(c) is satisfied in all
                                         -------------------
respects.

          e.  CGL  shall  have  delivered the Purchase Price, in accordance with
Section 2.2.
-----------

          f.  CGL  shall  have  executed  and delivered the Promissory Note, the
Security  Agreement and the Deed of Trust.

          g.  Each Buyer shall have executed and delivered a Guaranty Agreement.

          h.  The  Company  shall have delivered to the Shareholder the Excluded
     Assets.

          i.  CGL  shall  have procured all governmental approvals, consents and
authorizations  and  third  party  consents  specified  in Schedule 8.2(g).
                                                           ---------------

          j.  CGL  shall  have provided evidence to the Shareholder that CGL has
procured worker's compensation insurance for employment of the its employees and
insurance  policies  with  comparable  coverage  to  the  policies  and  limits
maintained  by  the  Company  prior  to  the  Effective  Date.

          k.  CGL  shall  have  provided  a  Lenders  Title  Insurance  Policy.

          l.  The Boards of Directors of the Company, Shareholder, Crested Corp.
and  U.S.  Energy  Corp.  shall have approved of the transaction contemplated by
this  Agreement.

The  Company  and  the  Shareholder  may  waive  any condition specified in this
Section  8  if  they  execute  a  writing so stating at or prior to the Closing.
----------

                                    ARTICLE 9
                   SURVIVAL OF REPRESENTATIONS AND WARRANTIES

     The  Parties  agree  that,  notwithstanding  any  examination made by or on
behalf  of  the  respective  Parties, the knowledge of the Parties or any of the
respective  agents  of  the  Parties,  or  the  acceptance  by  any Party of any
certificate  or  opinion,  each  statement, representation, warranty, indemnity,
covenant  and  agreement made by the Parties in this Agreement shall survive the
consummation of the transactions contemplated hereby for a period of twelve (12)
months  following  the  Closing  Date.

                                   ARTICLE 10
                                INDEMNIFICATION

     10.1  SHAREHOLDER  INDEMNITY.  The  Shareholder shall indemnify, defend and
hold  harmless  the  Buyers  and  CGL  and  their  respective successors, heirs,
assigns,  and  CGL's officers, directors, members, managers, equity holders, and
employees  (collectively,  the  "ACQUIROR  GROUP")  against  any Actions, suits,
proceedings,  hearings,  investigations,  charges,  complaints, claims, demands,
injunctions,  judgments,  orders,  decrees,  rulings,  damages, dues, penalties,
fines,  costs,  amounts  paid  in  settlement,  Liabilities, obligations, Taxes,
liens,  losses,  expenses,  and  fees,  including  court  costs  and  reasonable
attorneys'  fees  and  expenses  (collectively, "ADVERSE CONSEQUENCES") that any
member  of Acquiror Group may suffer, sustain or become subject to as the result
of,  or  arising  from  or  in  connection  with  (a)  any  breach of any of the
representations  or  warranties  made  by the Company or the Shareholder in this
Agreement, (b) any breach of the covenants and agreements made by the Company or
the Shareholder in this Agreement or any exhibit hereto delivered by the Company
or the Shareholder in connection with the Closing, (c) any Excluded Liabilities.

     10.2  CGL  AND  THE  BUYERS INDEMNITY. CGL and the Buyers shall jointly and
severally  indemnify  and  hold  harmless  the  Shareholder  and its successors,
assigns,  officers, directors, equity holders, and employees against any Adverse
Consequences  which  they may suffer, sustain or become subject to as the result
of,  arising  from  or  in  connection  with (a) a breach of any representation,
warranty,  covenant  or  agreement  by  CGL  contained  in this Agreement or any
exhibit  or  Schedule or (b) the ownership or operation of the Company after the
Effective  Date,  except for (i) any amounts relating to Excluded Liabilities or
(ii)  the  breach  of any representation, warranty, covenant or agreement by the
Company  or  the  Shareholder  in  this  Agreement.

     10.3  INDEMNITY  LIMITATION.  Anything  in  Section  10.1  to  the contrary
notwithstanding,  no  amounts  shall be payable by the Shareholder under Section
10.1(a)  unless  and  until the Acquiror Group shall have incurred or reasonably
expects  that  it  will  incur  on a cumulative basis Adverse Consequences in an
amount  exceeding $10,000 (the "BASKET"), at which time the Shareholder shall be
responsible  for  all  amounts due, including amounts previously accumulated but
unreimbursed.  Notwithstanding  the foregoing, no threshold shall be required to
be  met  as  a  condition to indemnification with respect to willful breaches of
representations  and  warranties  or  of  covenants  under  this  Agreement.
Notwithstanding  anything  to  the  contrary  contained  herein, other than with
respect  to  the  Excluded  Liabilities  for  which the Shareholder shall remain
liable, no Party shall be liable for an amount in excess of the principal amount
of  the Promissory Note plus accrued interest at such time outstanding as of the
date  any  claim  is  due  and  payable  for  Adverse  Consequences,  subject to
indemnification  as  a result of a breach of representation or warranty, and any
such  valid  claim shall be offset against the principal balance owing under the
Promissory  Note.

     10.4  INDEMNIFICATION  PROCEDURES.

          a.  If  any  third party shall notify any Party to this Agreement (the
"INDEMNIFIED  PARTY")  with respect to any matter which may give rise to a claim
for indemnification against any other Party to this Agreement (the "INDEMNIFYING
PARTY")  under  Article  10,  then  the  Indemnified  Party  shall  notify  each
                -----------
Indemnifying  Party  thereof  with  five  (5)  days  of  the Indemnified Party's
knowledge  of  such  claim;  provided, however, that no delay on the part of the
                             --------  -------
Indemnified  Party  in  notifying  any  Indemnifying  Party  shall  relieve  the
Indemnifying  Party  from any liability or obligation hereunder unless (and then
solely  to  the  extent) the Indemnifying Party is prejudiced by the delay.  Any
Indemnifying  Party  will have the right to defend the Indemnified Party against
the  Third Party Claim with counsel of its choice reasonably satisfactory to the
Indemnified Party so long as (A) the Indemnifying Party notifies the Indemnified
Party  in writing within 15 days after the Indemnified Party has given notice of
the  Third Party Claim that the Indemnifying Party will undertake the defense of
such  claim,  (B)  the  Indemnifying  Party  provides the Indemnified Party with
evidence  reasonably  acceptable  to the Indemnified Party that the Indemnifying
Party  will have the financial resources to defend against the Third Party Claim
and  fulfill its indemnification obligations hereunder, and (C) the Indemnifying
Party  conducts  the  defense  of the Third Party Claim actively and diligently.
The  Indemnified  Party  may  participate  in  the  defense  of  such claim with
co-counsel  of  its choice; provided, however, that the fees and expenses of the
                            --------  -------
Indemnified  Party's  counsel  shall  be at the expense of the Indemnified Party
unless  (A)  the  Indemnifying  Party has agreed in writing to pay such fees and
expenses, (B) the Indemnifying Party has failed to assume the defense and employ
counsel  as  provided  herein or (C) a claim shall have been brought or asserted
against  the  Indemnifying  Party  as  well  as  the Indemnified Party, and such
Indemnified  Party  shall have been advised in writing by counsel that there may
be  one  or  more factual or legal defenses available to it that are in conflict
with  those  available  to the Indemnifying Party, in which case such co-counsel
shall  be  at the expense of the Indemnifying Party; provided, however, that the
                                                     --------  -------
Indemnifying  Party  will  not  be required to pay the fees and expenses of more
than  one separate principal counsel (and one appropriate local counsel) for all
Indemnified Parties.  If, within such 15-day period, the Indemnifying Party does
not  assume  the  defense  of  such  matter or fails to defend the matter in the
manner  set  forth above, the Indemnified Party may defend against the matter in
any  manner  that  it reasonably may deem appropriate and the Indemnifying Party
will  reimburse the Indemnified Party promptly and periodically for the costs of
defending against such claim (including reasonable attorneys' fees and expenses)
and  the Indemnifying Party will remain responsible for any Adverse Consequences
the Indemnified Party may suffer resulting from, arising out of, relating to, in
the  nature  of,  or  caused by the claim to the fullest extent provided herein,
provided,  however,  that  the Indemnified Party may not consent to the entry of
   -----   -------
any  judgment  with  respect  to  the  matter  or enter into any settlement with
respect  to  such  matter  without  the consent of the Indemnifying Party, which
consent  may  not  be  unreasonably  withheld.

          b.  Except  for  (i)  fraud,  in  which case all remedies at law or in
equity  shall  be  available  to  the Parties, and (ii) other remedies expressly
provided  for  in  this  Agreement,  the Parties hereby agree that the foregoing
provisions  of this Article 10 shall be the sole and exclusive means of recovery
                    ----------
of  a  Party  hereto  or any other Person entitled to indemnification under this
Article  10.
-----------

                                   ARTICLE 11
                                  TERMINATION

     11.1  TERMINATION OF AGREEMENT. The Parties may terminate this Agreement as
provided  below:

          a.  The Parties may terminate this Agreement by mutual written consent
at  any  time  prior  to  the  Closing;

          b.  CGL  may  terminate  this  Agreement  by  giving written notice to
Shareholder at any time prior to the Closing (i) in the event Shareholder or the
Company  has breached any representation, warranty or covenant contained in this
Agreement  in  any  material  respect,  CGL  has notified the Shareholder of the
breach  and  the breach has continued without cure for a period of 30 days after
the notice of breach or (ii) if the Closing shall not have occurred on or before
September  2,  2003  by  reason  of the failure of any condition precedent under
Section  8.1 hereof (unless the failure results primarily from CGL breaching any
representation,  warranty  or  covenant  contained  in  this  Agreement);  and

          c.  The  Shareholder  may  terminate  this Agreement by giving written
notice to CGL at any time prior to the Closing (i) in the event CGL has breached
any  representation,  warranty  or  covenant  contained in this Agreement in any
material  respect, the Shareholder has notified CGL of the breach and the breach
has continued without cure for a period of 30 days after the notice of breach or
(ii)  if  the  Closing shall not have occurred on or before September 2, 2003 by
reason of the failure of any condition precedent under Section 8.2 hereof caused
by  CGL  or Buyers (unless the failure results primarily from the Shareholder or
Company  breaching  any  representation,  warranty or covenant contained in this
Agreement).

     11.2 EFFECT OF TERMINATION. If any Party terminates this Agreement pursuant
to  Section  11.1  hereof,  all  rights and obligations of the Parties hereunder
shall  terminate  without  any  Liability of any Party to any other Party (other
than  pursuant  to  Article  11  hereof,  including all sections and subsections
thereof);  provided,  however,  no  termination shall relieve any Party from any
Liability  arising  from  or  relating  to  such  Party's  breach at or prior to
termination.

                                   ARTICLE 12
                                  MISCELLANEOUS

     12.1  CONFIDENTIALITY. Each Party agrees that it shall, and it shall direct
and  use  its  best  efforts  to  cause  its  officers, directors, shareholders,
employees,  agents  and  representatives  to,  and the terms of the transactions
contemplated  hereby  strictly  confidential and to not disclose such matters to
any  third  party  without  the  other  Party's prior written consent, provided,
however, that U.S. Energy may make a public disclosure to comply with applicable
securities  law.

     12.2  NO  THIRD-PARTY  BENEFICIARIES.  This  Agreement shall not confer any
rights  or  remedies upon any Person other than the Parties and their respective
successors  and  permitted  assigns.

     12.3  ENTIRE AGREEMENT. This Agreement (including the documents referred to
herein)  constitutes  the  entire agreement among the Parties and supersedes any
prior  understandings,  agreements,  or representations by or among the Parties,
written  or  oral,  to  the  extent they relate in any way to the subject matter
hereof.

     12.4  SUCCESSION  AND  ASSIGNMENT. This Agreement shall be binding upon and
inure to the benefit of the Parties named herein and their respective successors
and permitted assigns. No Party may assign either this Agreement or any of their
rights,  interests,  or obligations hereunder without the prior written approval
of  CGL  and  the  Shareholder.

     12.5  COUNTERPARTS.  This  Agreement  may  be  executed  in  one  or  more
counterparts,  each  of  which  shall  be  deemed  an  original but all of which
together  will  constitute  one  and  the  same  instrument.

     12.6  NOTICES.  All  notices,  requests,  demands,  claims,  and  other
communications hereunder will be in writing. Any notice, request, demand, claim,
or  other  communication  hereunder  shall be deemed duly given if (and then two
business  days after) it is sent by registered or certified mail, return receipt
requested,  postage  prepaid,  or  by  expedited courier, next day delivery, and
addressed  to  the  intended  recipient  as  set  forth  below:

     If  to  CGL  or  the  Buyers:          Copy  to:

     Cactus  Group,  LLC                    Brownstein, Hyatt & Brownstein, P.C.
     4855  W.  Lakeridge  Rd.               410  17th  Street,  22nd  Fl.
     Denver,  Colorado  80219               Denver,  Colorado  80202
     Attn:  Joseph  Deffert                 Attn:  Lea  Ann  T.  Groesser
     Telephone:  (303)  987-8855            Telephone:  (303)  223-1182
     Fax:        (303)  977-4129            Fax:        (303)  223-0982

     If  to  the  Shareholder:              Copy  to:

     Plateau  Resources  Limited            Davis  Graham  &  Stubbs  LLP
     c/o  U.S.  Energy  Corp.               1550  Seventeenth  Street
     877  North  8th  West                  Suite  500
     Riverton,  Wyoming  82501              Denver,  Colorado  80202
     Attention: Daniel P. (Mike) Svilar     Attention: Scot  Anderson
     Telephone: (307)  856-9271             Telephone: (303)  892-7383
     Fax:       (307)  857-3050             Fax:       (303)  893-1379

Any  Party  may  send any notice, request, demand, claim, or other communication
hereunder  to  the  intended  recipient at the address set forth above using any
other means (including personal delivery, messenger service, facsimile, ordinary
mail,  or electronic mail), but no such notice, request, demand, claim, or other
communication  shall  be  deemed  to  have  been  duly given unless and until it
actually  is  received  by  the  intended  recipient.  Any  Party may change the
address  to  which  notices, requests, demands, claims, and other communications
hereunder  are  to be delivered by giving the other Parties notice in the manner
herein  set  forth.

     12.7  GOVERNING  LAW; JURISDICTION; VENUE. This Agreement shall be governed
by  and  construed  in  accordance with the laws of the State of Wyoming without
regard  to  its  rules  of  conflict  of laws. Each Party hereby irrevocably and
unconditionally  consents and submits to the exclusive jurisdiction of the state
courts  of the State of Wyoming and of any federal court located in the State of
Wyoming  in  connection with any actions, disputes or proceedings arising out of
or  relating  to  this  Agreement.  Each  Party  irrevocably and unconditionally
waives,  to  the fullest extent he, she or it may legally and effectively do so,
any  objection that it or he may now or hereafter have to the laying of venue of
any  suit,  action  or proceeding arising out of or relating to the Agreement in
any  Wyoming  state  or  federal  court.  Each of the Parties hereto irrevocably
waives,  to  the fullest extent permitted by law, the defense of an inconvenient
forum  to the maintenance of such action or proceeding in any such court. In any
such action, dispute or proceeding, each Party hereby absolutely and irrevocably
waives  personal service of any summons, complaint, declaration or other process
and hereby absolutely and irrevocably agrees that service thereof may be made by
certified  or  registered first class mail directed to such Party at its address
in  accordance  with  Section  12.6  hereof.
                      -------------

     12.8  WAIVER  OF  JURY  TRIAL.  NO PARTY TO THIS AGREEMENT OR ANY ASSIGNEE,
SUCCESSOR, HEIR OR PERSONAL REPRESENTATIVE OF A PARTY SHALL SEEK A JURY TRIAL IN
ANY  LAWSUIT,  PROCEEDING,  COUNTERCLAIM OR ANY OTHER LITIGATION PROCEDURE BASED
UPON  OR  ARISING  OUT  OF  THIS  AGREEMENT  OR THE DEALINGS OR THE RELATIONSHIP
BETWEEN THE PARTIES. NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION, IN WHICH
A JURY TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT
OR HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS SECTION HAVE BEEN FULLY DISCUSSED
BY  THE  PARTIES HERETO, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS.
NEITHER  PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO THE OTHER PARTY THAT
THE  PROVISIONS  OF  THIS  SECTION  WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.

     12.9  AMENDMENTS  AND  WAIVERS.  No  amendment  of  any  provision  of this
Agreement  shall  be valid unless the same shall be in writing and signed by the
Buyers  and  the  Shareholder.  No  waiver  by  any  Party  of  any  default,
misrepresentation,  or  breach  of  warranty  or  covenant  hereunder,  whether
intentional  or  not,  shall  be  deemed  to  extend  to any prior or subsequent
default,  misrepresentation,  or  breach  of  warranty  or covenant hereunder or
affect  in  any way any rights arising by virtue of any prior or subsequent such
occurrence

     12.10 SEVERABILITY. Any term or provision of this Agreement that is invalid
or  unenforceable  in  any  situation  in  any jurisdiction shall not affect the
validity  or  enforceability of the remaining terms and provisions hereof or the
validity  or  enforceability  of  the  offending  term or provision in any other
situation  or  in  any  other  jurisdiction.

     12.11  EXPENSES. Each of the Parties will bear their own costs and expenses
(including  legal, fees and expenses) incurred in connection with this Agreement
and  the  transactions  contemplated  hereby.

     12.12  CONSTRUCTION. The Parties intend that each representation, warranty,
and  covenant contained herein shall have independent significance. If any Party
has  breached  any representation, warranty, or covenant contained herein in any
respect, the fact that there exists another representation, warranty or covenant
relating  to  the  same  subject  matter  (regardless  of the relative levels of
specificity) which the Party has not breached shall not detract from or mitigate
the  fact  that the Party is in breach of the first representation, warranty, or
covenant.

                   REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

<PAGE>

     IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to
be  duly  executed  as  of  the  date  and  year  first  above  written.

                                        CANYON  HOMESTEADS,  INC.

                                        By:   /s/ Mark J. Larsen
                                            ------------------------------------
                                        Name: Mark J. Larsen
                                            ------------------------------------
                                        Its:  President
                                            ------------------------------------

                                        SHAREHOLDER:

                                        PLATEAU  RESOURCES  LIMITED

                                        By:   /s/ Hal Herron
                                            ------------------------------------
                                        Name: Hal Herron
                                            ------------------------------------
                                        Its:  President
                                            ------------------------------------

                                        CACTUS  GROUP,  LLC

                                        By:   /s/ Joseph Deffert
                                            ------------------------------------
                                        Name: Joseph Deffert
                                            ------------------------------------
                                        Its:  President
                                            ------------------------------------

                                        BUYERS:

                                         /s/ Joseph Deffert
                                            ------------------------------------
                                        JOSEPH  DEFFERT

                                         /s/ D. Paige Deffert
                                            ------------------------------------
                                        D.  PAIGE  DEFFERT

                                         /s/ Ernst Deffert
                                            ------------------------------------
                                        ERNST  DEFFERT

                                         /s/ Aileen Deffert
                                            ------------------------------------
                                        AILEEN  DEFFERT

                                         /s/ Martin Vialpando
                                            ------------------------------------
                                        MARTIN  VIALPANDO

                                         /s/ Mary Eileen Vialpando
                                            ------------------------------------
                                        MARY  EILEEN  VIALPANDODownloaded By: Hoyt R

Exhibit 4.5

 

______________________________________________________________________________

 

WISCONSIN GAS COMPANY

 

and

 

U.S. BANK NATIONAL ASSOCIATION

(as successor to First Wisconsin Trust Company)

As Trustee

__________________

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of March 22, 2004

to

Indenture Dated as of September 1, 1990

 

6.60% Debentures due September 15, 2013

6-3/8% Notes due November 1, 2005

5-1/2% Notes due January 15, 2009

______________________________________________________________________________

 

THIS FIRST SUPPLEMENTAL INDENTURE (this "Supplemental Indenture") is made as of March 22, 2004, between WISCONSIN GAS COMPANY, a Wisconsin corporation (the "Company"), as issuer, and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the "Trustee"), as trustee. 

RECITALS

WHEREAS, the Company and the Trustee (as successor trustee to First Wisconsin Trust Company in accordance with Section 612 of the Original Indenture) are parties to an Indenture, dated as of September 1, 1990 (the "Original Indenture"), pursuant to which the Company issued and the Trustee authenticated and delivered the following securities which are, as of the date hereof, currently outstanding (collectively, the "Securities"):

(a) $45 million principal amount of the Company's 6.60% Debentures due September 15, 2013;

(b) $65 million principal amount of the Company's 6-3/8% Notes due November 1, 2005; and

(c) $50 million principal amount of the Company's 5-1/2% Notes due January 15, 2009;

WHEREAS, the Board of Directors of the Company has determined that it is in the best interests of the Company to convert its corporate form from a Wisconsin corporation to a Wisconsin limited liability company pursuant to Section 180.1161 of the Wisconsin Business Corporation Law and Section 183.1207 of the Wisconsin Limited Liability Company Act (the "Conversion");

WHEREAS, the Board of Directors of the Company has determined that it is advisable to amend certain provisions of the Original Indenture which may affect the Conversion;

WHEREAS, the Original Indenture provides that the Company and the Trustee may amend or supplement the Original Indenture, without the consent of the Holders of the Securities, to make any change that does not adversely affect in any material way the rights of any Holder of the Securities;

WHEREAS, the Board of Directors of the Company has determined that the amendments to the Original Indenture contained in this Supplemental Indenture do not adversely affect in any material way the rights of any Holder of the Securities; and

WHEREAS, this Supplemental Indenture has been duly authorized by all necessary action on the part of the Company.

NOW, THEREFORE, the Company and the Trustee agree as follows for the equal and ratable benefit of the Holders:

ARTICLE I

DEFINITIONS; INTERPRETATION

SECTION 1.1  Definitions. Capitalized terms that are defined in the preamble or the recitals hereto shall have such meanings throughout this Supplemental Indenture. Capitalized terms used but not defined in this Supplemental Indenture have the meanings assigned thereto in the Original Indenture.  The meanings assigned to all defined terms used in this Supplemental Indenture shall be equally applicable to both the singular and plural forms of such defined terms.  The term "Indenture" as used herein means the Original Indenture as supplemented by this Supplemental Indenture, or as otherwise supplemented or amended from time to time by one or more indentures supplemental thereto or hereto entered into pursuant to the applicable provisions of the Indenture.

SECTION 1.2  Interpretation. References in the Original Indenture (including references in the Original Indenture as amended and supplemented hereby) to "this Indenture" (and indirect references such as "hereunder," "herein" and "hereof") shall be deemed references to the Original Indenture as amended and supplemented hereby.  All of the covenants, agreements and provisions of this Supplemental Indenture shall be deemed to be and construed as part of the Original Indenture to the same effect as if fully set forth therein and shall be fully enforceable in the manner provided in the Original Indenture.  Except as otherwise provided in this Supplemental Indenture, all of the covenants, agreements and provisions of the Original Indenture shall remain in full force and effect.

ARTICLE II

AMENDMENTS

SECTION 2.1  Amendments. The following provisions of the Original Indenture are hereby amended, modified, supplemented or replaced as follows: 

(a)  The definition of "Board of Directors" contained in Article 100, Section 101 of the Original Indenture is amended to read in its entirety as follows: ""Board of Directors" means the board of directors of the Company or any authorized committee thereof, or, if the Company is not a corporation, the equivalent decision making body thereof or authorized committee thereof."

(b)The definition of "Common Stock" contained in Article 100, Section 101 of the Original Indenture is amended to add the following phrase at the end of the sentence: ", or, if the Company is not a corporation, the equivalent of such common stock."

(c)The definition of "Company" contained in Article 100, Section 101 of the Original Indenture is amended to add the words "or other entity" after each occurrence of the word "corporation."

 

(d)The definition of "Consolidated Tangible Net Worth" contained in Article 100, Section 101 of the Original Indenture is amended to add the words "(or its equivalent if the Company is not a corporation)" after the words "common stockholders' equity."

(e)The definition of "Officers' Certificate" contained in Article 100, Section 101 of the Original Indenture is amended to read in its entirety as follows: ""Officers' Certificate" means a certificate signed by any one or more of the Chairman of the Board, any Vice Chairman, the President, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer, the Secretary, the Controller, any Assistant Treasurer, any Assistant Secretary or any Assistant Controller of the Company, and delivered to the Trustee."

(f)  The definition of "Subsidiary" contained in Article 100, Section 101 of the Original Indenture is amended in its entirety to read as follows: ""Subsidiary" means a corporation or other entity a majority of whose voting stock or comparable securities is owned by the Company or a Subsidiary."

(g)Article 100, Section 112 of the Original Indenture is amended to replace the word "Corporate" appearing in the heading thereof with the word "Company."

(h)Article 100, Section 112 of the Original Indenture is further amended to add the words "(or an individual holding a similar position or ownership interest in an entity that is not a corporation)" after the word "shareholder."

(i)The first paragraph of Article 300, Section 303 of the Original Indenture is amended to add the words "(if any)" after the phrase "corporate seal."

(j)The last paragraph of Article 600, Section 608(c) of the Original Indenture is amended to add the words "(or their equivalent if the entity is not a corporation)" after the phrase "corporate securities."

(k)Article 800, Section 801 of the Original Indenture is hereby amended to insert the words "or limited liability company" after each occurrence of the word "corporation."

(l)  Article 800, Section 801 of the Original Indenture is further amended to insert the following language as the last paragraph thereof: "Nothing in this Indenture shall prohibit the Company from effecting a conversion pursuant to applicable law of the Company from a corporation into a limited liability company or from a limited liability company into a corporation, whether directly or by means of a merger, and any such conversion shall not be deemed to be a consolidation, merger or transfer subject to the requirements of the immediately preceding paragraph, provided, that such conversion by law shall not be deemed to affect any obligations or liabilities of the Company incurred prior to such conversion (including obligations or liabilities with respect to the Notes).  Notice of any such conversion shall be promptly delivered to the Trustee." 

(m)Article 800, Section 802 of the Original Indenture is amended to insert the words "or Limited Liability Company" appearing in the heading thereof after the word "Corporation."

(n)Article 800, Section 802 of the Original Indenture is further amended to insert the words "or limited liability company" after each occurrence of the word "corporation."

(o) Article 900, Section 901 is hereby amended to insert the words "or limited liability company" after the word "corporation" in clause (2) thereof. 

(p)Article 1000, Section 1008 of the Original Indenture is amended to replace the word "Corporate" appearing in the heading thereof with the word "Legal."

(q)Article 1000, Section 1008 of the Original Indenture is further amended to replace the word "corporate" with the word "legal."

(r)The Table of Contents of the Original Indenture is hereby amended as necessary to reflect the foregoing amendments.

ARTICLE III

MISCELLANEOUS

SECTION 3.1  Conflict with the TIA.  If any provision of this Supplemental Indenture modifies or excludes any provision of the TIA that is required under such Act to be part of and govern the Indenture, the provision of the TIA shall control.  If any provision hereof modifies or excludes any provision of the TIA that may be so modified or excluded, the provision of the TIA shall be deemed to apply to this Supplemental Indenture, as so modified or excluded, as the case may be.

SECTION 3.2  Date and Time of Effectiveness.  This Supplemental Indenture shall become a legally effective and binding instrument at and as of the date hereof.

SECTION 3.3  Notes Deemed Conformed.  As of the date hereof, the provisions of each Security then outstanding shall be deemed to be conformed, without the necessity for any reissuance or exchange of such Security or any other action on the part of the Holders, the Company or the Trustee, so as to reflect this Supplemental Indenture. 

SECTION 3.4  Successors. All agreements of the Company and the Trustee in this Supplemental Indenture and in the Indenture shall bind their respective successors.

SECTION 3.5  Benefits of Supplemental Indenture.  Nothing in this Supplemental Indenture, express or implied, shall give to any person, other than the parties hereto and their successors hereunder, any Paying Agent, Registrar and the Holders, any benefit or any legal or equitable right, remedy or claim under this Supplemental Indenture or the Indenture.

SECTION 3.6  Separability. In case any provision in this Supplemental Indenture, or in the Indenture, shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law.

SECTION 3.7  Trustee Responsibility. The Trustee assumes no duties, responsibilities or liabilities by reason of this Supplemental Indenture other than as set forth in the Original Indenture.  The Trustee assumes no responsibility for the correctness of the statements herein contained, which shall be taken as statements of the Company.  This Supplemental Indenture is executed and accepted by the Trustee subject to all of the terms and conditions of its acceptance of the trust under the Original Indenture, as fully as if said terms and conditions were herein set forth in full.

SECTION 3.8  Headings.  The Article and Section headings of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

 

SECTION 3.9  Counterparts.  This Supplemental Indenture may be executed in counterparts, each of which shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

SECTION 3.10  Governing Law.  This Supplemental Indenture shall be governed by and construed in accordance with the internal laws of the State of Wisconsin, unless Federal law governs.

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the day and year first above written.

 

 

                                                                       WISCONSIN GAS COMPANY

         (CORPORATE SEAL)                       By:     /s/ Roman A. Draba          

                                                                                 Name: Roman A. Draba

                                                                                 Title: Vice President-State Regulatory

                                                                                            Affairs

Attest:

/s/ Keith H. Ecke                        

Name: Keith H. Ecke

Title: Assistant Corporate Secretary

 

 

                                                                       U.S. BANK NATIONAL ASSOCIATION

          (CORPORATE SEAL)                       By:     /s/ Steven J. Peterson              

                                                                                 Name:  Steven J. Peterson

                                                                                 Title:  Assistant Vice President

Attest:

/s/ Michael K. Herberger                  

Name:  Michael K. Herberger

Title:  Assistant Vice President

STATE OF WISCONSIN           )

                                                       ) SS.

COUNTY OF MILWAUKEE     )

 

On this 22nd day of March, 2004, before me personally came Roman A. Draba and Keith H. Ecke, to me known, who, being by me duly sworn, did depose and say that they are the Vice President-State Regulatory Affairs and Assistant Corporate Secretary, respectively, of WISCONSIN GAS COMPANY, one of the entities described in and which executed the above instrument; that they know the corporate seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that they signed their names thereto by like authority.

IN WITNESS WHEREOF,  I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

                                                                                 /s/ Karen G. Paul                       

                                                                                 Name:  Karen G. Paul                   

                                                                                 My commission expires:  October 2, 

2005   

        (NOTARIAL SEAL)

 

STATE OF WISCONSIN           )

                                                       ) SS.

COUNTY OF MILWAUKEE     )

On this 22nd day of March, 2004, before me personally came Steven J. Peterson and Michael K. Herberger, to me known, who, being by me duly sworn, did depose and say that they are each an Assistant Vice President of U.S. Bank National Association, one of the entities described in and which executed the above instrument; that they know the corporate seal of said association; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said association; and that they signed their names thereto by like authority.

IN WITNESS WHEREOF,  I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

                                                                                  /s/ Steven F. Posto                      

                                                                                  Name:  Steven F. Posto                  

                                                                                  My commission expires:  February 11, 2007

        (NOTARIAL SEAL)

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