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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />l <br />I <br /> <br /> <br />{f.. <br /> <br /> <br />;: 125458 <br /> <br />Proiect Yield <br /> <br />The firm annual yield of the Eagle Park Reservoir Project will be obtained from a <br />number of sources. The first is the yield derived from a new water right for this <br />storage facility coupled with subordination agreements. An application for a water <br />right for this Reservoir is currently pending in Water Division No.5, Case No. <br />92CW340. A copy of this application is attached as Exhibit E. <br /> <br />Subordination or other comparable agreements are in the process of being <br />negotiated with Denver, Colorado Springs and the Colorado River Water <br />Conservation District. An agreement which subordinates Denver's Eagle-Colorado <br />Project to Eagle Park Reservoir has been finalized and is attached hereto as <br />Exhibit I. Also, the River District board voted at its July meeting to allow the <br />decrees for its Red Cliff (Iron Mountain) and Wolcott Reservoir Projects to be <br />used to enhance and firm up the yield of Eagle Park Reservoir. A formal written <br />agreement between the loan appli.:;ants and the River District is being fmalized. <br />While no agreement has been reached with Colorado Springs, discussions with <br />Colorado Springs are ongoing. <br /> <br />The second source of project yield will be the exchange of senior consumptive use <br />credits owned by the Authority, Consolidated District and Vail Associates. The <br />historic use of these senior water rights has previously been quantified in various <br />augmentation plans and change cases and will be exchanged to Eagle Park <br />Reservoir. <br /> <br />Similarly, these three entities have existing Green Mountain Reservoir contracts <br />that can be used to firm up the yield of Eagle Park Reservoir by exchange. Vail <br />Associates also owns snowmaking return flow credits which are in the process of <br />being quantified, and will be exchanged to Eagle Park Reservoir. <br /> <br />A fourth source of water for Eagle Park Reservoir is the Arkansas Well and <br />Arkansas River exchanges. As mentioned above, Vail Associates currently owns <br />the first 500 acre feet of the Arkansas Well. <br /> <br />The water rights application for Eagle Park Reservoir includes diversions from <br />Ten Mile Creek as well as diversions from the Eagle River basin. The facilities for <br />the interceptors tributary to Ten Mile Creek have already been permitted by <br />Summit County in connection with the Clinton Reservoir transaction. <br /> <br />Finally, additional yield can be obtained from the use of certain senior water rights <br />owned by Cyprus Climax and historically used in connection with the Climax <br /> <br />5 <br />