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e e 4, In consideration of the lease, GASP shall pay to Lower, during the term of this Agreement and any renewal thereof, an amount equal to: 1) all reasonable fees and costs for surveys, well permits or other approvals necessary to drill and use the well; 2) all monthly or annual payments, as the case may be, to which Lower is obligated for the financing of the cost of drilling the well, purchasing and installing the associated equipment, providing an electrical power hookup, piping the well water to the State Line Canal, and obtaining and maintaining insurance coverage on the well and pipeline; 3) all electric costs for operation of the well and all maintenance, repair and replacement costs for the well, associated equipment and pipeline; and 4) all fees Lower will pay the Julesburg Irrigation District and Peterson Ditch Company for delivery of water from the well through the State Line Ditch to the South Platte River, It is the intent of the parties that Lower shall not bear any expense for the construction or operation of the well, during the term of this Agreement and any renewal thereof, as GASP is obtaining the benefits of the pumping of the well. All requests for payment shall be mailed or delivered to GASP at the address above and shall be paid within 30 days of receipt. If they are not paid within 30 days of receipt, Lower shall send a written notice of demand for payment to GASP and if payment is not made within 30 days of mailing of said notice, Lower may terminate the Agreement and take such action as it deems appropriate to collect any amounts due, 5. GASP shall notify Lower 24 hours in advance when it wishes the well to be operated and at what flow rate, GASP shall likewise provide 24 hours advance notice if it wants the well to be shut off, Lower cannot and does not guarantee that water will be available from the well at any certain time or in any certain amount. Lower will use its best efforts to operate the well to provide water for GASP in accordance with this Agreement. GASP agrees that any damages it may claim or obtain for the failure of Lower to comply with this Agreement shall be limited to liquidated damages of $10,00 and the right to seek termination of this Agreement, provided that nothing herein shall prevent GASP from seeking injunctive relief to require Lower to comply with the terms of this Agreement or to prevent interference with operation of the well by third parties. 6. Lower shall keep records of the days the well is pumped and the amount of water pumped from the well each day and submit them to GASP on a monthly basis, GASP shall prepare such records as required by the Division Engineer concerning the pumping of the well and shall submit such records and calculations of depletions to the South Platte River caused by the well pumping to Lower and the Division Engineer on or before December 31 st of each year or more often if required by the Division Engineer, 7, The pumping of this well will resultin delayed depletions to the South Platte River. To replace these depletions, GASP shall lease from Lower, and Lower shall lease to GASP, the April through October accretion credits which Lower has obtained from Farmers Grain Co. in the Lower/Farmers Grain Agreement. The accretion credits obtained by Lower from Farmers Grain are all the April through October recharge accretions, up to but not exceeding, all the April thiOugh October depletions from this well. The lease price for the accretion credits shall be revised by April 1 of each year to equal the current market values for April through October recharge accretion credits assigned for irrigation well depletion replacement in multiple year commitments, but in any event no less than $8,25 per acre foot. The lease rate paid by GASP will be the same lease rate that Lower pays Farmers Grain F:\KIM\LSP\Augmentation Well\LSPWCD GASP Agreement 6-1-01,wpd 2