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<br />the Colorado Water District No. 67 ditches' entitlement to <br />conversation storage in the reservoir. <br /> <br />B. Seller also owns the 1400 acres of Land historically irrigated by the <br />Keesee Water Rights, as generally shown on Exhibit A, attached hereto and incorporated herein <br />by reference (hereinafter referred to as the "Land"). ' <br /> <br />C. The Keesee Water Rights are subject to a pending application, as <br />amended, for change of water rights, filed by Seller in District Court, Water Division 2, in Case <br />No. 82CW130 (hereinafter referred to as the "Change Application"); which application seeks to <br />change the place and type of use and to adjudicate certain exchanges to storage of the Keesee <br />Water Rights. <br /> <br />D. Purchaser desires to purchase from Seller one-half ('h) of the Keesee <br />Water Rights (he.reiiiafterfeferred to as the "Water Rights") described as follows: <br /> <br />1. Four and one-half cubic feet per second (4.5 cfs) of a total of nine <br />cubic feet per second (9 cfs) decreed to the Keesee Ditch by the <br />. Bent County District Court on July I, 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. Two and one-quarter cubic feet per second (2.25 cfs) of a total of <br />four and one-half cubic feet per second (4.5 cfs) decreed to the <br />Keesee Ditch by the Bent County District Court on July I, 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. Seven and one-half cubic feet per second (7.5 cfs) of a total of <br />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. One-half ('h) of Sellers right, title and interest, including contract <br />rights, to the Keesee storage account in John Martin Reservoir <br />arising under the 1980 Operating Plan for John Martin Reservoir, <br />which plan was adopted as a Resolution of the Arkansas River <br />Compact Administration on April 24, 1980 and amended on May <br />10, 1984 and December 11, 1984. Under the 1980 Operating Plan <br />for John Martin Reservoir, the Keesee storage account is allotted <br />2.30% of the Colorado Water District No. 67 ditches' entitlement <br />to conversation storage in the reservoir. <br /> <br />Page 2 of 29 <br />