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not have any contracts, then it would pay Middie Park 300 x$25 or <br />$7,500.00, assuming the River Dis#rict charge stays at $25 per acre foot <br />per year. On September 1, 2004, the 300 number woufd be reduced by <br />whatever number Summit County has under contract and otherwise pays <br />for at that time. <br />(7) Summit County has the option to terrninate this Option Agreement, upon <br />thirty days written notice to Middle Park. <br />(8) !t is recognized by the Parkies that under 5c, Summi# Caunty may not <br />know by August or September in any given year, a# least in fhe near <br />future, whether or not it will need to provide exchange water to either <br />Denver or Calorado Springs. Middle Park stipulates and agrees that upon <br />payrnen# by Summit County of whatever the existing O&M charges are by <br />the River District ta Middle Park (presently $25.04 per acre-foot), Middle <br />Park will request that the Riuer District hold that quantity of water available <br />for its use for September 'i St through the following August 311, subject to <br />the terms arzd conditions of Middle Park's Agreements, with the Colorado <br />River Water Conservation District dated December 17, 1992. 1n the event <br />that Summit County needs that water, both partiss will enter in#o a <br />standard WoIfard Mountain Contract for that portion that is needed and <br />. Summit County will pay the standard Wofford Mountain fees-but shal( not <br />be required to execute a Contract fior that water until it is actually needed <br />and required. _ <br />(9) Due to the nature of this Contract befween Summif County and Middle <br />Park, some of #he Wolford Mountain provisions regarding subcon#racting <br />and exchanges, as weq as conveyance to parties that have conveyed their <br />water off their property, are inappropriate and at such tims as the <br />Contracts are entered into, those cfauses may be appropriately modified <br />as necessary including at a minimum the following: <br />{a} Middle Park Policies and Bylaws which are incorporated in <br />Paragraph 3 prohibits contracts from serving (ands on which water <br />rights have previously been removed are not apPlicabie to the <br />contract or this option. <br />(b) The County, in effectuating in-basin uses or exchanges, may use <br />the Wolford water as repiacement water to Denver andlor others <br />who may Use the replacement water for a transbasin diversion of <br />exchange. <br />-4-