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12.0 PERMITTING AND LAND LEASES <br />,~ <br />No easements, rights of ways or other permits are required for the water rights purchases. The <br />appropriate Federal, State, County and local permitting will be obtained for the construction of <br />measurement structures and the reservoir. OAC anticipates that all aspects of the project will be <br />exempt from Federal permitting requirements; however, this will be confirmed with the U. S. Army <br />Corps of Engineers. Anticipated State requirements include notice to the State Engineer, Dam Safety <br />Branch for reservoir construction and acquisition of well permits from the Division of Water <br />Resources. OAC does not anticipate County or local permitting requirements; however, this will be <br />confirmed prior to construction. <br />The proposed recharge and lined reservoir facilities will be located on lands owned by OAC <br />members. The land owns have a high interest in the success of this project and each has indicated <br />that they will provide OAC with along-term lease (30 year minimum) for the facilities. The annual <br />lease payment is expected to be nominal as the projects will have little to no impact upon the farm <br />production of the land. Appendix I contains a copy of a letter of commitment from SLW Ranch <br />Company for the lease of land to OAC. The final lease agreements will be provided to CWCB prior <br />to the pay request for construction of the facitities. <br />13.0 INSTITUTIONAL CONSIDERATIONS <br />If OAC is approved for CWCB funding for this project, an initial pay request will be made in order <br />pay off the existing bridge loan for the purchase of 1.0 share of GIC. Agreements for additional <br />water rights purchases, recharge and reservoir construction, and flow measurement and monitoring <br />implementation will be finalized subsequent to authorization of the CWCB loan. <br />14.0 COLLATERAL <br />The Ogilvy Augmentation Company can offer the following collateral for the CWCB loan. <br />1. The revenue from assessments as allowed by the Augmentation Agreement and Covenant, <br />Company By-Laws, and Articles of Incorporation. <br />2. A certificate of deposit account in the amount of one annual payment to be held by the State <br />Treasurer. <br />3. The reserve account in the amount of one annual payment. <br />3. The water rights purchased by the OAC. <br />Feasibility Study of the Ogilvy Augmentation Company <br />We11.4ugmentation Project <br />Page 22 <br />