C150150 Market Report

• Contract/PO #: C150150
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Bent
• Loan Projects - Doc Type: Feasibility Study

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SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS

PROPERTY: Water Rights consisting offour and one-half cubic feet per second (4.5
c.f.s.) of the nine cubic feet per second (9 c.f.s.) decreed to the Keesee
Ditch by the Bent County District Court on July 1, 1895, in the original
adjudication proceedings in Water District No. 67 as Priority No. 1 with
an appropriation date of March 13, 1871. Two and one-quarter cubic
feet per second (2.25 c.f.s.) of the four and one-half cubic feet per second
(4.5 c.f.s.) decreed to the Keesee Ditch by the Bent County District Court
on July 1, 1895, in the original adjudication proceedings in Water District
No. 67 as Priority No.4 with an appropriation date of December 31,
1883. Seven and one-half cubic feet per second (7.5 c.f.s.) of the fIfteen
cubic feet per second (15 c.f.s.) decreed to the Keesee Ditch by the Bent
CountY District Court on October 14, 1918, in a supplemental
adjudication proceeding in Water District No. 67, with an appropriation
date of September 3, 1893.

One-half (Y:z) of the Keesee Ditch storage account in John Martin
Reservoir established by the 1980 Operating Plan for John Martin
Reservoir, was adopted as a Resolution of the Arkansas River Compact
Commission on April 24, 1980, and amended on May 10, 1984, and
December 11, 1984. Under the Operating Plan, the Keesee Ditch
storage account is allotted 2.3 % of the Colorado Water District No. 67
ditches' share of Conservation Storage in the reservoir.

As part of the purchase of the water rights, the Lower Arkansas Water
Management Association ("LA WMA") will also acquire the following
property rights:

A Real Covenant for Dry-Up of historically irrigated land: Except for
the purposes of revegetation as required by the Real Covenant for
Revegetation, certain described historically-irrigated lands (the "Dry-Up
Land") will be removed from irrigation and will not be irrigated in the
future unless the water used for such irrigation is from a permitted exempt
well, is water supplied by a municipal or quasi-municipal entity, or is water
diverted pursuant to either a change of water right or augmentation plan
approved by the Water Court for Water Division No.2, or a substitute
water supply plan or replacement plan approved by the Colorado State
Engineer. This covenant and the burdens imposed thereby are binding on
and run with the Dry-Up Land forever and are forever enforceable against
Sellers, their heirs, successors, and assigns forthe benefit of LA WMA, its
successors and assigns.

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