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<br />WATER RIGHTS PURCHASE AND SALE AGREEMENT <br /> <br />This Water Rights Purchase arid Sale Agreement (hereinafter referred to as the <br />"Agreement") is made and entered this 2nd day of April, 2003 (the "Effective Date"), by and <br />between Mary Alice Broyles, Jake O. Broyles Trust No.1, and Prowers Enterprises, LLC <br />Gointly referred to as "Seller") whose address is c/o William O. Broyles, P.O. Box 793, Lamar, <br />CO 81052, and Lower Arkansas Water Management Association, a Colorado non-profit <br />corporatiortf"LAWMA~or:"P:urchaser") whose address is P. O. Box 1161, Lamar, Colorado <br />81052. <br /> <br />IlliCIT ALS <br /> <br />A. Selleristlie'oWnerof the Keesee Ditch, the headgate of which is located <br />on the South bank of the Arkansas River in the NElf4 of the swVt of Section 1, Township 23 <br />South, Range 49 West of the 6th P.M. in Bent County, Colorado. Seller owns all the water rights <br />decreed to the Keesee Ditch and is entitled to all rights associated with the Keesee storage <br />accountin John Martin Reservoir. Seller's water rights in the Keesee Ditch and Seller's rights to <br />the Keesee storage account in John Martin Reservoir are referred to herein as the "Keesee Water <br />Rights" and are described as follows: <br /> <br />I. Nine cubic feet per second (9 cfs) decreed to the Keesee Ditch by <br />the Bent County District Court on July 1, 1895 in the original <br />adjudication proceeding in Water District No. 67, with an <br />appropriation date of March 13, 1871 representing Priority No. I in <br />the Water District No. 67. <br /> <br />2. Four and one-half cubic feet per second (4.5 cfs) decreed to the <br />Keesee Ditch by the BentCounty District Court on July 1, 1895 in <br />the original adjudication proceeding in Water District No. 67, with <br />an appropriation date of December 31, 1883 representing Priority <br />_ No.4 in the Water District No. 67. <br /> <br />3. Fifteen cubic feet per second (15 cfs) decreed to the Keesee Ditch <br />by the Bent County District Court on October 14, 1918 with an <br />appropriation date of September 3, 1893. <br /> <br />4. The Keesee storage account in John Martin Reservoir arising under <br />the 1980 Operating Plan for John Martin Reservoir, which plan <br />was adopted as a Resolution of the Arkansas River Compact <br />Administration on April 24, 1980 and amended on May 10, 1984 <br />and December II, 1984. Under the 1980 Operating Plan for John <br />Martin Reservoir, the Keesee storage account is allotted 2.30% of <br /> <br />Page 1 of 29 <br />