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<br />REC EPTION#: 878543,
<br />09/28/2010 at 03:15:14 PM, 1 OF 7, ft$41.00
<br />NORMA HATFIELD, CLERK AND RECORDER
<br />FREMONT COUNTY, CO
<br />AGREEMENT .FOR STORAG� SPACE
<br />IN BRUSH HOLLOW RESERVOIR
<br />This Agreement entered into this 25th day of September, 2010 by and between Beaver Park Water Inc., a Colorado
<br />non-profit corporation and mutual ditch company, whose address is 209 Broadway, Penrose, CO 81240, hereinafter
<br />referred to as "Beaver Park", and Penrose Water DiStrict, doing business as the Penrose Water District Water Activity
<br />Enterprise, whose address is 340 Grant Street, Penrose, Colorado 81240, hereinafter referred to as "Penrose".
<br />RECITALS
<br />A. WI�REAS, Penrose is a Special District seeking to acquire suitable storage space for water rights it has acquired
<br />or may acquire in the future on the Arkansas River and its tributaries; and
<br />B. WHEREAS, of the options under consideration by Penrose, Brush Hollow Reservoir (the "Reservoir") has been
<br />identified as a potential site for storage space; and
<br />C. WHEREAS,.Penrose is dev�loping a new water system, ("Penrose-Arkansas Pipeline") including a diversion or
<br />intake structure on the Arkansas Ftiver, pumpipg facilities and pipeline that wili allow diversion of water to the.Reservoir,
<br />or the Penrose Water Treatment Plant, and ma,y.include w.ater between the Arkansas.River and the Reservoir, and
<br />delivery of water from the Reservoir into the Lower.Canal into the Penrose G Street (St.) Fumping Station; and
<br />D. WHEREAS, Beaver Park is the of Brush Hollow Reservoir and a�*rafei deliyery sysfem in Penrose; and
<br />E. WHEREAS, Penrose`desires to obtain from Beaver Park, and Beaver Park desires`to sell to Penrose the right to
<br />purchase stoiage space at the Reseivoir; and -
<br />F. WHEREAS, Penrose desires to obtain from Beaver Park; and Iieaver Park desires to grant the conditional right to
<br />liave Beaver �ark deliver that water t�imug6 the Lower Canal to Penrose's G St. Pump Statiori undei tHe terms of this
<br />agreement; and :
<br />G. WHER$AS, Beaver Park desires to ob#ain from Penrose; and. `Penrose desires to grant to Beaver Park, the
<br />conditional right to have Fenrose deliver water as caniage capacity is available in the Penrose-Arkansas Pipeline, under the
<br />terms of this agceement; and
<br />H. WHEREAS,. Beauer Park .finds. that the,.use .Qf the : Reservoir -by. :Penrose:.pursuant,.to this �Agreement wilt not
<br />signiGcantly interfere witli the full use of those facilities or Beaver Park's water rights, and Penrose finds that the use of the
<br />Penrose-Arkansas Pipeline by Beaver Park pursuant to this Agreement will not interfere wit}i the full ase of'thos� facilities
<br />by Penrose or the water rights owned tiy Penrbse; and
<br />I, WI�EREAS,.the. shareholders of B.eaver Park Water, Inc. were presented.the terms of this agreement and have
<br />approved the terms; the parties agree as follows: '
<br />AGREEMEN'T
<br />In consideration for the granting of mutual rights to use these facilities by both parties and other covenants stated herein,
<br />and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged:
<br />Beaver Park agrees to sell to Penrose 500 �1cre Feet (AF) of Storage Space in Brush Hollow Reservoir,. (the "Property").
<br />Beaver Pazk also agrees to grant the conditional use of the Lower Canal to release stored water from the Reservoir to the G
<br />St. Purnp Station until Penrose builds a.pipeline from the Reservoir to the treatri►ent.plant. This agreement does not
<br />authorize Penrose to enlarge the Reservoir and .conveys ownership only of 500 AF of Storage Space in the Reservoir.
<br />Both Parties understand that Brush Hallow Reservoir is encumbered by a. Deed. of Trust with the ,Colorado Waxer
<br />Conservation Board (CWCB) and agree that, at the time of closi,ng, the property must be free and clear of encumbrances.
<br />Beaver Park Water intends to obtain from CWCB a partial release from that encumbrance as it retates to the 500 AF of
<br />Storage Space, the "Property", the release to be recorded with the warranty deed.
<br />1'enrose agrees to construct a pipeline from the Arkansas River (Penrose-Arkansas Pipeline) including an inlet to the
<br />Reservoir and to grant to Beaver Park the use of excess capacity in the Penrose-Arkansas pipeline.
<br />Both Parties agree that Penrose intends to utilize water from the Reservoir by means of an intra-ditch exchange through the
<br />Upper Canal whenever possible. When the flow in the Upper Canal is insufficient for intra-ditch exchanges, delivery of
<br />Penrose's water will be by use of the Lower Canal.
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