Elkhead Reservoir Final Acquisition Agreement

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Page 5 water stored behind the Dam Enlargement shall include water stored pursuant to water storage rights decreed for the existing Elkhead Reservoir as well as any water stored pursuant to additional v~Tater storage rights adjudicated and decreed for storage in the Reservoir Enlargement. The Reservoir Enlargement will have a total estimated capacity of 24,887 acre-feet. Permanent «Tater Supply -shall consist of the CWCB's ownership interest in the storage space in the Reservoir Enlargement and the CWCB's ownership interest in the water storage rights decreed to fill the Reservoir Enlargement as described in paragraph II.A herein. Pn~ -shall mean the relative seniority of the v~~ater rights held by, or that maybe acquired or adjudicated by, Craig, the River District, or the Yampa Participants for the Reservoir or Reservoir Enlargement as decreed by a court of the State of Colorado. Pro-Rata Formula -shall mean the allocation of the storage space created by the construction of the Reservoir Enlargement, estimated to be 11,750 acre-feet, as follows: 27i'47tI` interest (6,750 acre-feet) to the River District and 20/47` interest (5,000 acre-feet) to the C`'~'CB for Recovery Program purposes. The Pro-Rata allocation is based on the percentage contributions of the parties to fund the total costs related to the construction of the Reservoir Enlargement as well as the long term costs of the Reservoir's operation, maintenance and repair allocated to the Reservoir Enlargement. In the event that the actual percentage contributions of the parties to fund the total costs related to the construction of the Reservoir Enlargement differ from the 27/47th and 20/47th relationship described herein, then the Pro-Rata Formula shall be adjusted in accordance with the terms of paragraph II.B herein. Pro-Rata does not refer to or mean the amount of water actually stored in the Reservoir Enlargement at any specific time. Reco~Te Program Obligation -shall mean the obligation of the Recovery Program, through Reclamation with and through the State of Colorado, to fund the Recovery Program's Pro-Rata share of the Reservoir Enlargement Cost of Construction. The Recovery Program Obligation is estimated at $8,722,888.00. The amount of the Recovery Program Obligation maybe adjusted pursuant to the terms of paragraphs II.B and III.A.l herein. Reservoir Enlargement Cost of Construction -shall include costs related to: actual construction costs, land acquisition costs, permitting costs, engineering costs, construction contract administration costs, construction management costs, and water rights adjudication costs. The Reservoir Enlargement Cost of Construction is estimated to be X20,498,787.00. Reservoir Operation, Maintenance and Repair "OM&R"- shall mean the day-to-day control and operation and the reasonable and necessary maintenance, and/or repair, I''OO~~.Clients~Ri~-er District3l-Elkhead-10?8'~~~-eements~Resenoir Enla cement Agreement final.wpd Januan 6.200