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

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with reasonable back-up documentation of the costs for which reimbursement is sought. Provided such invoice is approved by the SPWRAP board, SPWRAP will send payment within ten days following such meeting. In the event of a dispute over SPWRAP's obligation for a particular cost, SPWRAP shall give written notice, including an explanation of the basis for such dispute within the time allowed for making payment. Thereupon, SPWRAP and Lower will attempt to negotiate a resolution of the dispute for up to 60 days. If no resolution is agreed upon within that time, Lower or SPWRAP may seek arbitration in accordance with paragraph 14 below. (6) For the purpose of ineeting PRitIp obligations, Lower hereby provides to SPWRAP all excess credits developed from the HRWP that accrue to the South Platte River during the "Non-Compact Period" as defined by Article IV, § 1 of the South Platte River Compact (C.R.S. § 37-65-101), as well as any credits from HRWP that accrue at other times if such credits are excess and not leased for sugmentation of wells in Sedgwick County and not utilized by SPRR per the Lower-SPRR Agreement (Appendix A). The river aceretion credits generated by the HRWP will result from Lower's exercise of its water rights being adjudicated in 08CW024, Water Division 1, State of Colorado. The payment by SPWRAP of elechical and other O&M costs as pmvided above shall be deemed the consideration for obtaining excess credits. The term of this Agreement shall be fifteen years, and sha[I be renewable at the election of SPWRAP for successive fifteen year terms, subject to the termination provisions below. (7} Tennination: The obligarions of this Agreement may be terminated under the following conditions. If terminated, Parties shall not be obligated to return already reimbm-sed funds shown on Appendix G, and no Party sha11 have any further obligation pursuant to t}ris Agreement. a.) Lower may terminate the Agreement if either of the following occur: (i) 3PWRAP becomes more than thirty days delinquent in its reunbursement payments to Lower unless SPWRAP has given norice as to a dispute pursuant to Paragaph 5(d). (ii) L,ower is unable, despite its best efforts, to pump HItWP facilides in amounts sufficient to avoid the termination of "Phase 1" of the Lower- SPRR Agreement (Appendix A), and "Phase 2" commences in accordance with Pazagraph 13 of Appendix A. b.) SPWItAP may teiminate the Agreement if any of the following occnr: (i) I,ower fails' to perform as wntemplated herein; (ii) Operation of the HRWP substantially fails to create the benefits described in the Yield Analysis Memo; HRWP projxt Spxific Agr 1-21-09