Elkhead Reservoir Final Acquisition Agreement

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3. Said conveyance shall be by special warranty deeds, the forms of which are attached hereto as Exhibits E and F. The C~'VCB will hold this water right and storage space easement in perpetuity, except as provided for herein, for the benefit of, and at the direction of, the Recovery Program acting through Reclamation and the Service, and pursuant to the terms and conditions of this Acquisition Agreement. 4. The River District states, but does not in any way warrant, that it is, or will be upon completion of construction of the Reservoir Enlargement, the sole owner of the real property described in paragraph II.A.2 herein and that no prior easements and/or lease agreements, except those identified in this Acquisition Agreement, exist that will interfere «-ith the easement conveyed by this Acquisition Agreement. ~. It is understood and agreed that the rights to be conveyed to the CWCB, as described in paragraph II.A.2 herein, shall be subject to the terms and conditions of the decree to be issued in Case'~To. 02CVV106 (Water Division l~~o. 6) but shall otherwise be free from lien or encumbrances that would impair the use of such rights for the purposes intended by the C~'~'CB. Any lien or encumbrance shall be expressly agreed to by the parties at the time of conveyance. 6. The easement described in paragraph II.A.2 herein will be conveyed subject to the terms and conditions of this Acquisition Agreement as more particularly described herein. 7. The «-ater storage easement and water storage rights to be conveyed are subject to the terms and conditions of the Amended and Restated Agreement between the River District, Craig and the Yampa Participants, attached as Exhibit G, the terms of which are incorporated herein. The CWCB's use of the water storage easement and water storage rights to be conveyed shall be exercised consistent with the provisions of the Amended and Restated Agreement behveen the Yampa Participants, the River District and the City of Craig. 8. Pursuant to the Amended and Restated Agreement beriveen the Yampa Participants, the Ri~-er District, and the City of Craig, the rights conveyed to the CWCB in paragraph II.A.2 herein are expressly subject to, and will share Pro-Rata together with the retained interests of the River District, in any loss of storage space as a result of sedimentation in the Reservoir Enlargement, any loss of storage water as a result of evaporation, any water shortage resulting from hydrological conditions, any water shortage resulting from an operational constraint on the Reservoir Enlargement, and/or any constraint on the ability to release «-ater from the Reser~-oir Enlargement due to limitations on the reservoir outlet. 9. Payment of the full Recovery Program Obligation pursuant to the Reservoir Enlargement Agreement is a prerequisite to the River District executing the deeds transferring the interests described in paragraph II.A.2 herein to the CWCB. The parties agree and acknowledge that Cu'CB shall receive no partial interest in the Reservoir Enlargement L _~ ~~- ~zuU ~Ri~-~r Di~~ic ~ i-Elkhzad-I ~'- ~ ~~eenxnti _~cq'n A~ni >~al.w~ D2C2I=iL?~r,:,_ ~~{ j'ag 6 of 17