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<br />WHEREAS, PWSD and the Water Users acquiring the PWSD surrendered allocation have requested that <br />the CWCB approve the distribution of the PWSD surrendered allocation according to the table in Exhibit <br />C as a condition precedent to completing the acquisition of PWSD surrendered allocation. <br /> <br />NOW THEREFORE BE IT RESOLVED by the Colorado Water Conservation Board: <br /> <br />1. PWSD is released from its Letter of Commitment related to the Reallocation of Storage Space in <br />Chatfield Reservoir dated March 3, 2005. PWSD's rights and obligations in the reallocation of <br />Chatfield Reservoir are tem1inated. <br /> <br />2. PWSD's surrendered 2,000 acre-foot allocation in Chatfield Reservoir has been re-distributed <br />between those members of the Upstream Group electing to acquire their prorated share of <br />PWSD's surrendered allocation, and to Mt. Carbon Metropolitan District. A table establishing the <br />disbibution ofPWSD's surrendered allocation is attached as Exhibit C. The CWCB expressly <br />approves the distribution of PWSD's sUlTendered allocation as provided in Exhibit C. The form <br />of the assignment from PWSD to the participating Water Users is attached as Exhibit D and this <br />assignment instrument is approved by the CWCB. A Waiver and Release document is attached as <br />Exhibit E tor approval by all members of the Upstream Group, all members of the Downstream <br />Group, Mt. CarhonMetropolitan District, and the CWCB. The CWCB expressly approves <br />revisions to Exhibit E that are mutually acceptable to aU affected parties, prior to its execution. <br />The fun and complete execution of Exhibit E is a condition of the transfer of the surrendered <br />2,000 acre-feet of storage space from PWSD to the acquiring entities. <br /> <br />3. Exhibit C to this Resolution is a revised form of Exhibit A that was attached to all of the Letters <br />of Commitment. Exhibit C has been revised for those members of the Upstream Group who <br />participated in the acquisition of PWSD surrendered allocation, and Mt. Carbon Metropolitan <br />District, and reflects the revised total allocation of these Water Users including their prorated <br />share ofPWSD's surrendered allocation. Payment of future costs and expenses by the Upstream <br />and Downstream Groups, shall be based on the prorations as provided in Exhibit C. <br /> <br />CERTIFICATE <br />I certify that the foregoing is a true and correct copy of a resolution adopted by a majority vote of the <br />members of the Colorado Water Conservation Board in regular session assembled at Glenwood Springs, <br />Colorado, on the 20th day O~f May, 200~} at which a ~uomm was present. <br /> <br />~"A__-' '~ L~! <br />. i J n-;;ifer Gi ;,el, CWCB Director <br />\-/ V <br />