Elkhead Reservoir Final Acquisition Agreement

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2. The term hereof shall be deemed perpetual as to Craig and the Yampa Participants. The Parties agree that if written notice is provided as set forth in Section C.1 above, no later than one-year prior to the end of the 7~-year term they will attempt to negotiate another agreement for another 75-year term on the same or similar provisions as contained herein. If the Parties are unable to consummate such an agreement, the River District agrees to execute documents no later than three months prior to the expiration of the 75-year term which allow Craig and the Yampa Participants to utilize jointly v~~ith the River District the River District's land, easement, rights-of--way, and permits for the Reservoir Enlargement for the purposes set forth in this Amended and Restated Agreement. D. FinancialObli~ations 1. The financial obligations of the River District and Craig are the sole obligations of those Parties' water projects enterprise, and water enterprise respectively, to be paid solely from those enterprises' respective revenues. 2. The River District's and Craig's enterprises, respectively, agree and covenant to establish and collect water rates, fees (including, if applicable, connection fees) and other charges for the products and services provided by their respective enterprises; which u.~ater rates, fees, and other charges; together v~-ith other moneys available shall be at least sufficient: (i} to meet the operation and maintenance expenses and other financial obligations of their respective enterprises; and (ii) to comply with all financial obligations contained in this Amended and Restated Agreement. E. Representations. 1. The Parties represent to each other that they have obtained any necessary approvals and authorizations, including official actions of their boards or council, if necessary, so as to execute this Amended and Restated Agreement and be bound to the terms hereof. 2. Craig and the River District represent that the State of Colorado, acting by and through the Department of V4Tildlife ("DOW ') no longer has any remaining interest or rights in the 1973 Agreement or the Supplemental Agreement nor in the terms of this Amended and Restated Agreement, and they have secured written confirmation of this representation from an authorized representative of DOW, except that DOW does retain rights for public recreational access to the Reservoir Enlargement pursuant to a deed reservation contained in the special Warranty Deed from the State of • Colorado to the City of Craig dated March 28, 1991 and recorded October 1, 2002 at Document Number 2002L4329 and October 4, 2002 at 14