A reservation or exception of mineral rights renders a seller's title unmarketable. Rule v. Link, 84 Colo. 82, 267 P. 1005 (1928) Eychaner v. Springer, 34 Colo. App. 412, 527 P.2d 903 (1974). The defect on Marcor's title was never cured.

Colorado would appear to be in general accord with the foregoing statement. See Murdock v. Pope, 156 Colo. 7, 396 P.2d 841; Kuper v. Scroggins, 127 Colo. 416, 257 P.2d 412, and Rule v. Link, 84 Colo. 82, 267 P.2d 1005. In our analysis of the situation it is at once obvious that because of the encroachment problem the Corporation cannot convey to the plaintiffs by a general warranty deed fee simple title to all of lot 15, and all of it to the plaintiffs.

00 as damages suffered by the Popes in connection with the acquisition of an access road to a public highway. With reference to question (1) above, the following decisions of this court fully support the judgment of the trial court: The Florence Oil Refining Co., et al., v. McCandless, 26 Colo. 534, 58 Pac. 1084; Mullen v. Bromley, 21 Colo. App. 399, 122 Pac. 66; Rule v. Link, et al., 84 Colo. 82, 267 Pac. 1005; Kuper v. Scroggins, et al., 127 Colo. 416, 257 P.2d 412. From Rule v. Link, supra, where a similar factual situation was present, we quote, inter alia: "* * * He [the plaintiffs in the instant case] elected not to rescind the contract because of plaintiffs' inability to convey a good title, but rather he elected to accept the title as it was with reduction of the purchaser price such as would compensate him for the deficiency.

" In Rule v. Link, 84 Colo. 82, 267 Pac. 1005, we held that a reservation of gas and oil rights in a transfer of title constituted an encumbrance upon the land and justified a refusal of grantee to perform. In Eriksen v. Whitescarver, 57 Colo. 409, 142 Pac. 413, the lands contracted for were subject to a right of way for an irrigation ditch and we held that the easement thereby created operated to destroy merchantable title, and the trial court's judgment decreeing specific performance was reversed.

The feverish excitement in oil fields, and guesses as to wealth beneath the surface of the earth, with values, potential or otherwise, often more fickle than the weather, do not admit of the deliberation frequently employed in perfecting titles to ordinary real estate. The correspondence shows that Pierce himself did not know the names of the sub-lessees; one of his letters about it, and the allegations of his and McCall's complaint conflict. Producer was not required to wait on unduly slow processes. It was not obliged to accept a defective title, when the agreement, if any, express or implied was for a good one. Rule v. Link, 84 Colo. 82, 267 Pac. 1005. In the present case this applies not only to the two per cent overriding royalty from vendors, but also to the acquirement of a further interest in the lease to come from California, both of which were conditions precedent.

Clearly it was not. The reservation of mineral rights constitutes an encumbrance rendering the title unmarketable. See Rule v. Link, 84 Colo. 82, 267 P. 1005; 8A G. Thompson, Real Property § 4484 (J. Grimes 1963 Replacement). Springer's argument is that an option agreement does not require an optionor to have marketable title in the absence of an express warranty in the contract. We do not agree.