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Page 7 <br />B. l~'Iodification of Interest to be Conveyed. The parties recognize that the interests <br />in the storage space in the Reservoir Enlargement and the water rights to be conveyed to <br />the CWCB, pursuant to paragraph II.A. herein may be modified by letter agreement <br />beriveen the parties and the CV~TCB if one of the following events occurs: <br />1. Elevation-Area Capacity Curve. If the River District's as-built <br />elevation-area capacity curve table of the Reservoir Enlargement shows the <br />enlargement area to be less than 11,750 acre-feet, then the Recovery Program <br />through the CWCB and Reclamation, in consultation with the Service may, in <br />their discretion: <br />a. agree to accept the conveyance to the CWCB of a 20/47ths <br />interest in the capacity created by the Reservoir Enlargement as shown on <br />the as-built elevation-area capacity curve; in such case the storage <br />capacity and water right interests to be conveyed pursuant to paragraph <br />II.A. herein shall be adjusted accordingly; or <br />b. agree to accept the conveyance to the CWCB of the <br />storage space and water right interests described in paragraph II.A. herein, <br />but agree to adjust the Recovery Program Obligation and pay a percentage <br />share of the Reservoir Enlargement Cost of Construction equal to the <br />percentage of: 5,000 acre feet divided by the number of acre feet of <br />storage space created by the construction of the Reservoir Enlargement as <br />determined by the as-built elevation-area capacity curve. <br />2. Cost Ovemzns. If the actual Reservoir Enlargement Cost of <br />Construction exceeds $20,498,787.00, then the Recovery Program through the <br />C~'VCB and Reclamation, in consultation with the Service may, in their discretion: <br />a. choose not to pay more than the Recovery Program <br />Obligation, but agree to accept the conveyance to the CWCB of adjusted <br />storage space and water right interests in an amount equal to 11,750 acre <br />feet multiplied by (the Recovery Program Obligation divided by the actual <br />Reservoir Enlargement Cost of Construction); or <br />b. agree to accept the conveyance to the CWCB of the <br />storage space and v~~ater right interests described in paragraph II.A. herein, <br />but agree to adjust the Recovery Program Obligation and pay 20/47ths of <br />the actual Reservoir Enlargement Cost of Construction. <br />3. I~TOnpayment. In the event that one of the events described in <br />paragraph II.B.l . or II.B.2. herein occurs, the Recovery Program through <br />Reclamation, the Service and/or the State of Colorado shall commit to pay a full <br />Pro-Rata share to the River District {as described in paragraphs II.B.I .b. or <br />I:~200-M1'°-Clients`Ri~er ~istrici3l-Elkhead-1028.A~eements`~Reservoir Enlargement Agreement final.wpd <br />Januan° 6, 205 <br />