MOA Between Members of Fountain Valley Authority on Reoperation Storage

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4. Each FVA Reoperations Participant agrees to fulfill its responsibilities under the Reoperations MOA, including the timely payment of all financial obligations assumed thereunder. 5. At such time as the United States implements reoperations through the execution of Reoperation Contracts, each FVA Reoperations Participant shall support the execution by either FVA or the individual members of FVA of a Reoperation Contract with the United States. 6. . If an individual FVA member determines that, taking into account the storage amounts identified in the PSOP Report and the Reoperations MOA, the amount of available reoperations storage space has been reduced to a point where it is not economically prudent to execute a Reoperation Contract, then that member may elect not to execute a Reoperation Contract. 7. Each FVA Reoperations Participant agrees to be solely responsible for those costs (other than implementation and development costs as identified in the Reoperations MOA) associated with obtaining .its Reoperation Contract from the United States for its share of reoperations space. 8. It shall be the sole responsibility of each FVA Reoperations Participant to obtain any water rights or change of water rights, which may be necessary to fully or partially utilize its reoperations space as identified in any Reoperation Contract with the United States for such space. 9. The FVA acknowledges that it has been allocated under the Reoperations MOA intended Reoperations storage space of 31,500 a.f. The members of FVA further acknowledge that Colorado Springs has committed to the acquisition of 28,500 a.f. of reoperations storage space under the Reoperations MOA and that Fountain has committed to 3,000 a.f. of such space. The members also acknowledge that SWD desires to retain an option to participate in reoperations storage in an amount of up to 3,000 a.f. and that WWSD desires to retain an option to participate in reoperations storage for up to 2,000 a.f. Such options may be assigned only as allowed under the Reoperations MOA. 10. FVA and its individual members agree that SWD and WWSD may each choose to exercise its option to participate by notifying Colorado Springs, through its utility (CSU), in writing, of such intent to participate and identifying in such notice the amount of reoperations storage it desires. A copy of such notice shall be provided to FVA and other FVA Reoperations Participants. Such notice must be received by CSU, FVA and the FVA Reoperations Participants on or before December 31, 2001 ( "option deadline "). The right to such storage in the amounts indicated will then be assigned by Colorado Springs to these entities from Colorado Springs' 28,500 a.f. share upon payment by SWD and/or WWCD of their respective pro rata shares of all costs and expenses incurred to date and as referenced in paragraph 4 above, with specific reference to the implementation and development costs identified in the Reoperations MOA.