BOARD00255

• Board Meeting Date: 5/23/2005
• Description: ISF Section - Proposed Amendment to Moser Water Right Acquisition Agreement
• Board Meetings - Doc Type: Memo

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Agenda Item No.6

ADDENDUM TO ACQUISITION AGREEMENT

This Addendum to Acquisition Agreement ("this Agreement") is made
between the Colorado Water Conservation Board ("the Board"), an agency of the State of
Colorado, and the Colorado Water Trust ("the Trust"), a Colorado nonprofit corporation.

RECITALS

WHEREAS, the Board is authorized under S 37-92-102(3), C.R.S., to acquire
from any person, including any governmental entity, such water rights or interests in water
as the Board determines may be required for in stream flows to preserve or improve the
natural environment to a reasonable degree and to take whatever action may be needed to
ensure such instream flows remain in the river; and

WHEREAS, the Trust was organized as a nonprofit corporation to "acquire, or
assist others in acquiring, water rights or interests in water rights, using voluntary
approaches with willing owners, for conservation benefits; and

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WHEREAS, the Board and the Trust entered into an Acquisition Agreement
dated December 22, 2004 ("the Acquisition Agreement") whereby the Trust will donate the
Peabody #1 and Lund Enlargement to the Board for instream flow use to preserve and
improve the natural environment of Boulder Creek and the Blue River in Summit County;
and

WHEREAS, the parties desire to' amend the Acquisition Agreement.

AGREEMENT

It is hereby agreed between the parties that the Agreement be amended \n
the following manner:

1. The phrase, "except that the Special Warranty Deed shall be revised in a
manner consistent with the change in Section 6 B of this Amended Agreement"
shall be added to the end of the sentence in section 1 of the Agreement.

2. Section 6B shall be amended in its entirety. The new Section
6B shall read as follows:

6.B.1. This Agreement expressly prohibits the Trust and its assigns from
exercising the right to use the Donated Rights reserved by the Trust
via exchange to uses located upstream from Green Mountain