C150269 Contract - Laserfiche WebLink

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4.5.3 The party whose estimated fair market value for Firm Storage space for augmentation water was furthest from the value determined by the arbitrator is liable for all costs of the arbitration, including all parties' costs, expenses, and attorneys' fees. The new Lease price per ace-foot sha11 be effective as of November 1 of the water year in which the rate increase is to be made (e.g. the 6~', 11~' 16~' etc. water years), regardless of when the renewal lease price is determined. 5.0 Operating Principles 5.1 Oneration and Maintenance. Santa Maria shall be solely responsible for a11 operation and maintenance of the Reservoirs. 5.2 Notice of Anticipated Stora~e Demand. If requested by Santa Maria, prior to each Water Year the District will provide Santa Maria with its estimate of the anticipated amount of the Subject Water the District wishes to store in the Reservoirs under this Lease during the coming Water Year. This estimate is non-binding and does not modify any of the District's rights under this Lease. 5.3 Stora~y the District. The District shall notify the Santa Maria not less than 36 hours before its desires to deliver Subject Water to storage in the Reservoirs, the estimated amount of the Subject Water to be delivered, the rate of delivery, the method of delivery, and the estimated quantity of the delivery in acre-feet. Santa Maria will notify the District if, and to what extent, it believes it will be able to divert and store the Subject Water and the reservoir in which the water will be stored. At the conclusion of the diversions Santa Maria will notify the District of the quantity water actually diverted and stored. 5.4 Reservoir Releases. Santa Maria will make reasonable attempts to release the Subject Water stored for the District in accordance with the direction of the District and the Division Engineer. Santa. Maria reserves the right to operate the Reservoirs and make releases of water, including the Subject Water, at such times and in such manner as in its discretion is required by sound reservoir operation and management practices. Santa Maria shall provide notice to the District if it becomes necessary to release the Subject Water absent a request for such release by the District. Except in the event of emergency, such notice shall be given at least 48 hours before the anticipated release so that the District can attempt to make other arrangements of the storage or use of the Subject Water released by Santa, Maria. 5.5 Reservoir Spills. If the Subject Water is stored in the Reservoirs and the Reservoirs are spilling or, without a release of water, the Reservoirs are reasonably anticipated to spill, then Santa Maria or the District may attempt to arrange for an exchange of the Subject Water into another reservoir, including Rio Grande Reservoir, in order to avoid a spill of Santa Maria water. However, if it is not possible to exchange the Subject Water to another reservoir, Santa Maria water sha11 spill before the spill any of the Subject Water in storage. Page 4 of 9