Project-Specific Agreement- for the Heyborne Recharge and Wildlife Project

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b.) The above-]isted financial contributions total $428,466, which the Parties believe is a sufficient amouat to complete construcpon of the HRWP, based on the low bid received for the Approved Design. Absent amendments agreed to by all Parties, DU will manage the, construction of the HRWP such that it is compieted within this budgeted amount. c.) On a quarterly basis, copies of all of DU's invoices for construction costs (including those paid by DU/SPRR) will be presented by DU to Lower, SPWRAP and the CWCB/CDNR with references to the project components to which they relate in the Funding Schedule. Lower, SPWRAP and the CWCB/CDNR will review the invoices for consistency with the Funding Schedule, and each will pay the amounts for which it is responsible within 45 days of receipt of such invoices. � (5) Operations and Costs: Lower is the HRWP Coordinator and water right holder as detailed in Appendix A. Lower will manage the daily operations of the HRWP including � the payment of electrical costs and O&M costs. The river accretion credits available to meet PRRIP obligations and to meet sugmentation obligations for wells, will vary from year to year. The Yield Analysis Memo states the expectation of the Parties regarding the � credits that will be available on an average basis, for these purposes, and shows that, in general, the credits needed for PRRIP compiiance occur at different times of the year than the credits needed for agricultural well augmentation. a•) Tn accordance with the rights and obligations stated in Appendix A, Lower will seek to lease recharge credits generated by the HRWP to Iocal augmentation plans that replace depletions of wells in Sedgwick County, Colorado, and will maintain appropriate accounting of such revenues. T'hese revenues wi11 only be used for 08cM costs of the HRWP. Lower will lease such credits at the prevaiting market rate. b.) SPWRAP wi11 reimburse Lower for all elech�ical (pumping) costs and O&M costs that are not first covered by leasing of HRWP credits as described above. "O&M costs" are defined as those costs reasonabl y necessary for the operation and mainYenance of the infrastructure constructed pursuant to the Approved Design. HRWP pumping will only occur after approval by SPWRAP. c.) Lower wil] keep track of its administration costs, including personne] time, and will be reimbursed by SPWRAP for all reasonable administrative costs as approved by the SPWRAP Board. If and as the efforts of Lower increase in the future towards accomplishing PRRIP goals, SPWRAP and Lower will develop a long-term agreement addressing in greater detail the terms for reimbursement of L.ower's administrative costs. d.) L.ower will be reimbursed on a monthly basis by SPWRAP for the costs described above. At least six days prior to a SPWRAP board meeting (held on the third Thursday of a month), Lower wil] provide to SPWRAP an invoice along 4 HRWP Project Specific Agr 1-21-09