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Routing # CMS # <br />STATE OF COLORADO <br />STATE OF COLORADO for the use and benefit of the DEPARTMENT OF <br />NATURAL RESOURCES, <br />INTERAGENCY AGREEMENT <br />between <br />the Colorado Water Conservation Board and the Division of Parks and Wildlife <br />TABLE OF CONTENTS <br />1. PARTIES ................................................................................................................................................ ..............................1 <br />2. EFFECTIVE DATE AND NOTICE OF NONLIABILITY .................................................................... ..............................1 <br />3. RECITALS ............................................................................................................................................. ..............................1 <br />4. TERM and TERMINATION .................................................................................................................. ..............................1 <br />5. PAYMENTS- NONE ............................................................................................................................... ..............................1 <br />6. EXECUTION OF SUBORDINATION AGREEMENT ......................................................................... ..............................2 <br />7. FAILURE TO PERFORM- DISPUTES .................................................................................................. ..............................2 <br />8. NOTICE AND REPRESENTATIVES ................................................................................................... ..............................2 <br />9. SIGNATURE PAGE ............................................................................................................................... ..............................3 <br />10. EXHIBIT A- SUBORDINATION AGREEMENT FORM ................................................................... ..............................4 <br />1. PARTIES <br />This Interagency Agreement (hereinafter called "Agreement ") is entered into between the Colorado Water <br />Conservation Board (hereinafter called "CWCB "), and the Division of Parks and Wildlife (hereinafter called <br />"CPW "), who may collectively be called the "Parties" and individually a "Party", both of which are agencies of <br />the State Of Colorado, Department Of Natural Resources, hereinafter called the "State ". <br />2. EFFECTIVE DATE AND NOTICE OF NONLIABILITY. <br />This Agreement shall not be effective or enforceable until it is approved and signed by CWCB and CPW <br />(hereinafter called the "Effective Date "), but shall be effective and enforceable thereafter in accordance with its <br />provisions. <br />3. RECITALS <br />A. Authority, Appropriation, And Approval <br />Authority to enter into this Agreement exists in CRS §33 -1- 101; §33 -1 -105, and §33 -10- 107, §33 -9 -101, et <br />seq. and §37 -60 -106. Required approvals, clearance and coordination have been accomplished from and <br />with appropriate agencies. <br />B. Consideration <br />The Parties acknowledge that the mutual promises and covenants contained herein and other good and <br />valuable consideration are sufficient and adequate to support this Agreement. <br />C. Purpose <br />CPW entered into a lease in 1992 with the Julesburg Irrigation District (JID) allowing public recreation, <br />wildlife related recreation, and fish management on the Jumbo Reservoir. Said lease expires March 31, <br />2012 and CPW and JID desire to extend the lease term to March 31, 2037. Since 1992, CWCB has loaned <br />money to JID, including a 2001 loan that is secured by a deed of trust affecting the leased property. The <br />Parties agree that it is in the public interest that in the event of any default by JID under the loan contract, <br />CPW's leasehold interest should continue. Therefore, CWCB agrees to subordinate its deed of trust to <br />CPW's leasehold interest. <br />4. TERM and TERMINATION <br />This subordination shall commence on the Effective Date of this Agreement and shall terminate upon <br />expiration of CPW's leasehold interest <br />5. PAYMENTS -NONE <br />