CONVERSE FARM RECEIVERSHIP

Litigants in Civil Action No. 2015CV31023, Douglas County District Court agreed to file a motion to appoint a receiver over certain real estate and appurtenant water rights ("Property") situated near Franktown in Douglas County, Colorado. In this Receivership Action, the Douglas District Court appointed Sterling as receiver to preserve the Property while the District Court resolved the various disputes among the litigants and established the amount and priority of the litigants claims against the Property. It is likely that the receiver will conduct a receiver’s judicial sale of the Property, and hold the proceeds from the sale pending the resolution of claims against the Property. The real estate that comprises the Property is 106 ± acres of agricultural land situated on both side of Cherry Creek at Castle Oaks Drive that has a farm house, two industrial buildings, and a 23.5± acre tree farm that is fully irrigated. The water rights include substantial tributary, non-tributary, and not non-tributary rights.