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"..--- WATER EXCHANGE AGREEMENT THIS AGREEMENT made and ,entered into this / / -Pv day of February, 1997, by and between RIVERSIDE IRRIGATION DISTRICT, hereinafter referred to as "Riverside" and the GROUNDWATER APPROPRIATORS OF THE SOUTH PLATTE RIVER BASIN, INC., hereinafter referred to as "GASP", WITNESSETH: That Riverside owns certain Decrees in Water Court Division I for the State of Colorado for augmentation rights, thereby allowing the development and use of water for augmentation purposes, and That GASP is the owner of certain Contract Rights of the Riverside Reservoir and Land Company, and That. GASP has formed a plan for augmentation under the statutory authority of the State of Colorado, and That the parties have for the preceding three irrigation seasons exchanged the use of certain water rights and now the parties desire to formalize their agreement by reducing the same to writing, and That as in the past GASP will exchange the water apportioned to it's Contract Rights to Riverside and Riverside shall exchange certain augmentation credits for the same as more particularly described herein. NOW THEREFORE in consideration of the mutual covenants herein contained and other good and valuable consideration, the parties agree as follows: 1. That for the irrigation season 1997 and every irrigation season thereafter the parties agree to exchange certain water and augmentation credits as more particularly described herein. It being the intent of the parties that this agreement shall be automatically renewable from year-to-year unless canceled by either party by giving written notice to the other on or before February 1 of the calendar year in which this agreement is to be canceled. 2. In consideration of this private agreement, GASP agrees to transfer unto Riverside the use of ~~ Rights for the irrigation season 1997.