Prehearing Statement of the Board of County Commissioners of the County of Summit, CO

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NOW, THEREFORE, in consideration of the premises, mu#ual covenants and agreements, as well as the sum of money #o be paid by Applicant to Middle Park, it is agreed as follows: (1) The water specifically subject to this Contract is that stated and described in said Agreement. (2) Middle Park makes no warranties or representations regarding the suitabifity of this par#icular water for the - purposes of Applicant, and it shall be Applicant's duty to perforrn whatever engineering and legal studies are necessary to ascertain whefher or not this water right is adequate for its purposes. This'Contract is subfect ta existing water Iaw, and i# shall be the obiigatian of Applicant to initiate and pay for whatever water right covrt proceedings are necessary to exchange these water rights to the iocatton and use necessary far the Applicant. The point of delivery shall be the outlet works of Wolfard Mountain Reservoir. Appficant, its parmitted heirs, successors and assigns, agree to pay any costs reasonably incurred by Middle Park such as attomey fees and engineering costs if Middle Park is required to testify or participate in any Water Court proceeding commenced by Applicant. _ (3) Middle Park hereby allots Appiicant, 30 acre-fieet of water at the price of $39.90 per acre-foot. Said water shall be a portion of that water as mentioned in said Agreement to be placed in Wolford Mountain Reservair as provided in said Agresmen#: Applicant shall pay #o Middle Park a yearly sum of $39.90 multiplied by the number of acre-feet that Applicant is cantracting for. This will represent a service charge for the delivery of said water and shall be paid on or before September '!, in advance, every year. Appiicant, at ths same time, shall provide Middle Park with an estimate of the amoun# of water #hat Applicant, out flf its allotted contractual amount wi11 be uti]izing, such that Middle Park can certify to the Colorado River Water Conservation District as to the usage for #he coming year. The estimate shall be realistic, The service charge shall increase at a ra#e of 5% per year beginning in 2003, or cost of living increase,.whichever is greater. Additionaffy, on top of the service charge, Applicant wiII pay the annual operation and maintenance charge charged -Middle Park by the Coforado River Vllater Conservation District, which is presently $25.00 per acre-foot per year in 2003. Attached are the present Middle Park policias which are incorporated herein by this reference as Exhibits A& B; however, any provision in such policiES that would prohibit the Applicant fram serving fands.on which water rights have previously been removed shfluld be inapplicabfe to the Applicant for purposes of this Contract. (Tatal due at Contract submittal:'l,947.00.) (4) As security to Middle Park, the Applicant agrees that the foregoing covenant to make annual payments iri. advance of water deIivery wiil be fuily met by annuaE budget and appropriation of funds from such sources of revenues as may be legally avaiiable ta said Applicant. As additional security to Middle Park, the Applicants, to #he extent a(Iowed by law, will hold-harmless any person, corporation, -2-