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operation and provide an on -going revenue stream for the HOA, which holds the <br />underlying mineral rights for the subdivision. <br />The HOA owns the community's raw water system assets consisting of ditch company <br />shares, three reservoirs, pumps, pump controllers, a network of pipes running through the <br />subdivision, fire hydrants, pressure sensors, lake aeration systems, and associated <br />equipment such as valves. The HOA owns the land surrounding Wadley Reservoirs Nos. <br />2 and 3 and has a permanent deeded easement for use of Wadley Reservoir No. 1 for <br />water supply and storage purposes. The HOA also owns one of the lots in the subdivision <br />at the toe of the dam for Reservoir No. 2 and another approximately one acre parcel of <br />land abutting 144th Avenue. <br />The HOA has established a replacement fund for depreciable equipment within the water <br />system and pursues a regular maintenance and replacement program to keep the system <br />in good working order. Fire hydrants. as shown in Figure 4, are flushed and pressure - <br />checked by the HOA at least once each year. <br />Figure 4: Typical Fire Hydrant Installation in Wadley Farms No. 3 <br />Ak <br />zr <br />Figure 5 shows the piping system that connects the pumps at the three lakes to the metering <br />pits for each lot and to the fire hydrants. Isolation valves are located in several places <br />throughout the system to provide points where leaks can be isolated without interrupting <br />water service to all homeowners. "There are also pressure reduction vaults located within the <br />system to help keep water pressure constant throughout the entire system as it drops in <br />elevation by about 100 feet from the east side to the west side of the subdivision. <br />Wadley Farms No. 3 Water Supply CWCB Loan Feasibility Study Page 7 <br />