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Water Supply Reserve Account - Grant Application Form <br />Form Revised May 2007 <br />Please understand that this letter sets forth certain proposed terms <br />for a contract only and is not a contract itself or otherwise in any <br />way legally binding upon the parties regarding the ultimate purchase <br />of the FIDCO Shares and the recharge facility. Nonetheless, upon <br />acceptance of the terms by the parties, it is Central's intention to <br />proceed diligently to enter into binding contracts in accordance with <br />the terms and procedures set forth in this letter and as further <br />negotiated by the parties. <br />If the provisions set forth in this letter are acceptable to you, <br />please sign at the bottom of this letter and return it to me via mail <br />at the address set forth above. If you fail to return this letter <br />prior to 2008, then this letter shall be deemed <br />void and of no further effect. <br />Central looks forward to working with you on this project. <br />Sincerely, <br />Tom Cech, Executive Secretary for the <br />Central Colorado Water Conservancy <br />District <br />Accepted: <br />Weld County School District RE-1 <br />James Alan Frank <br />By• <br />Jo Barbie, Superintendent <br />Dated: <br />21 <br />Laurie Ann Frank <br />Dated: <br />