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<br />OPTION AGREEMENT <br />THfS OPTION AGREEMENT is made and entered into this an,,, day af <br />JLne , 2003 by and between the 8oard of Directars of Middle Park Water <br />Canservancy District, hereinafter referred to as ("Middle Park"), and the Board of <br />County Commissioners of Summit Caun#y, Colorado, hereinafter referred- to as <br />("Summit County"). <br />WITNESSETH <br />WHEREAS, Middle Park has in the past mada availab}e to Summit County sixiy <br />acre-feet of Windy Gap water, and is in the process of making #hirty acre-feet of <br />WolfQrd Mounfain water available to Summ+t County pursuant to a Wolford Mountain <br />Standby Contract; and WHEREAS, Summit County filed in 1995 in Water Court, Water Division No. 5, <br />an augmentafion p1an, 95CW122, which was specifcaily designed to make water <br />available for nonconforming we!!s in Summit County, as weil as additional residential <br />units as specffied in said ptan; and WHEREAS, Summit County in 1997 approached Midd(e Parfc regarding. <br />potentia(iy supplernenting its water dghts that are available .for use in 95CW122 with <br />Wolford Mountain water; and <br />WHEREAS, Middle Park in 1997 passed a Reso[ution providing up to 300 acre- <br />feet to Summit County for the purposes of its augmen#ation plan; and <br />WHEREAS, the 1985 Agreement befween Summit County and the City and <br />County of Denver by its 8oard of Water Commissioners provided a mechanism for . <br />Summit County fo replace water oursuant to that Agreement by utilizing Windy Gap <br />water, and <br />WHEREAS, Middle Park, pursuant to Summit County's request, had Bishop- <br />Brogden Associates make a determination of the quanfity of water needed for out-of- <br />compliance weils presen#ly and in the future in Summit County which is approximately <br />125 acre-feet; and ' <br />UVHEREAS, Summit County has additional use far water, including Sumrnit <br />County owned facilities, as weil as replacemsnt involving #he Denver Water Board and <br />#he Cify of Co(orado Springs; and <br />-1- <br />Summit Exhibit 5