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<br />, <br /> <br />1/ <br /> <br />tit <br /> <br />Special Warranty Deed <br /> <br />This deed is made this day of , 2004 by the Colorado Water <br />Trust, a Colorado nonprofit corporation (hereinafter the "Trust" or "Grantor"), to the <br />Colorado Water Conservation Board, an agency of the State of Colorado (hereinafter the <br />"Board" or "Grantee"). <br /> <br />Subject to reservations hereinafter contained, the Trust hereby conveys for due <br />and sufficient consideration all of its remaining right, title and interest in the following <br />described water rights (the "Conveyed Water Rights") located in the County of Summit, <br />State of Colorado, to the Board for use to preserve and improve the natural environment <br />to a reasonable degree in Boulder Creek from the decreed location ofthe Peabody #1 <br />headgate, downstream to the confluence with the Blue River and in the Blue River from <br />the confluence with Boulder Creek, downstream to the confluence with Green Mountain <br />Reservoir: <br /> <br />. <br /> <br />The Peabody No. 1 Ditch No. 151, Priority No. 151, for 5.0 cfs absolute out of <br />Boulder Creek, tributary to the Blue River, decreed on March 2, 1910 by the <br />District Court of the Fifth Judicial District of Colorado in and for the County of <br />Summit in Civil Action 1277 with an appropriation date of May 23, 1904 <br />(Original Adjudication). <br /> <br />The Lund Enlargement and Extension ofthe Peabody No.1 Ditch No. 193, <br />Priority No. 204 for 1.5 cfs absolute out of Boulder Creek, tributary to the Blue <br />River, decreed on July 5,1916 by the District Cowt of the Fifth Judicial District <br />of Colorado ill and for the County of Summit in Civil Action 1520 with an <br />appropriation date of May 15,1915 (Supplemental Adjudication). <br /> <br />The Lund Enlargement and Extension water of the Peabody No. 1 Ditch No. 193, <br />Priority No. 204, for 2.0 cfs out of Boulder Creek, tributary to the Blue River, <br />decreed conditional on July 5, 1916 by the District Court of the Fifth Judicial <br />District of Colorado in and for the County of Summit in Civil Action 1520 <br />(Supplemental Adjudication). This water right was made absolute in Case No. <br />86CW151 by the Water Court for Water Division 5. <br /> <br />The Trust hereby reserves the right to use the decreed consumptive use of the Conveyed <br />Water Rights downstream of the confluence of the Blue River with Green Mountain <br />Reservoir, including the right to assign or sell said right of use ("Reservation"). The <br />Reservation shall extend to the Trust's successors and assigns and shall be subject to the <br />following conditions, which shall run with the Reservation: <br /> <br />. <br /> <br />1. The Trust, its successors and assigns are expressly prohibited from exercising <br />the Reservation via exchange to uses located upstream from Green Mountain <br />Reservoir, or on the Colorado River upstream of the confluence with the Blue <br /> <br />Exhibit A <br />