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<br />OOJ378 <br /> <br />Annual Quantity: <br /> <br />Up to 200,000 AF per year inclusive of any water created for mitigation PUIpOses, with a <br />maximum volume created in year 1 of 100,000 AF- <br /> <br />Method of Conservation: Fallowing <br /> <br />Hydrologic Shortage Sharing <br /> <br />Pro rata reductions in the transferred voJwne, with cessation of the transfer during periods <br />that water available to lID is equal to or less than 2.6 million AF per year <br /> <br />Water Payment Schedule:, <br /> <br />. ,~ .11 <br />Up front payment: $20 million at time of execbti6n; <br /> <br />Plus annual payments, to be paid in full by January 15 of each year, for each acre-foot <br />created at the following price: <br /> <br />· $200/AF ('03$), subject to inflation adjustment based on GDP Implicit Price <br />Deflator for water made available for transfer and any necessary mitigation; or' <br /> <br />· Payment during suspension of transfer for reasons related to surplus availability <br />or conveyance access: $50/ AF ('03$), subject to inflation adjustment based on <br />GDP Implicit Price Deflator. <br /> <br />Payee: lID <br /> <br />Socio-Economic Payments for Land Fallowing: Included in payments for water. IID will <br />determine the impacts, and form a Local Entity with County of Imperial to administer payments <br />received from lID and identify how and when to spend such amounL <br /> <br />Environmental: Buyer pays for environmental mitigation costS as incurred, including the <br />pwchase of any required mitigation water and permitting, documentation and review process <br />costs. The price for any mitigation water supplied by IID for environmental mitigation is the <br />same per acre-foot as set forth above_ lID 'Will be the Lead Agency under CEQA and a pemrittee <br />under ESA and CESA permits_ The scope of coverage under state and federal permits must be <br />acceptable to lID. <br /> <br />Junior Right Holders: Buyer to obtain consent or approval to transfer around junior right <br />holders. <br /> <br />Delivery Point: Imperial Dam on Colorado River. Buyer responsible for costs and consents <br />necessary for delivery of water to place of ultimate use. <br /> <br />Other: <br />1_ 1988 IID/MWD Agreement and 1989 Approval Agreement remain in effect and unmodified. <br /> <br />569829,01ISD <br />14161-oo2l12-13-OOJ6Jf}/djo <br /> <br />-3- <br />