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<br />4 <br /> <br />Recla::'...:~tion projects, but <:11so a~y ..;.uthorL:ed projects involving third <br />p2~ty water users. <br /> <br />. <br /> <br />2.2 The parties hereto re~ognize the 1~portance oE identifying <br />those glacial moraines which Reclar.4tion and CORY deem suitable for i~e- <br />diate study and agree to jointly designate t~enty-five (25) or more <br />moraines as priority projects no later than thirty (30) days after the date <br />of the execution of this contract. Furthermore, Reclamation and CORY may <br />mutually designate additional moraines for study during the term of this <br />agree:::!ent. <br /> <br />2.3 Reclamation agrees to provide CORY with data and information <br />developed during the studies herein described to support the co~any's water <br />right applications. <br /> <br />3. CORY'S RIGHTS ~~ RESPONSIBILITIES <br /> <br />3.1 Reclamation, as authorized by Congress, agrees that CORY <br />shall have the right to act as project sponsor for all designated projects. <br />CORY's rights and responsibilities shall include but not be limited to: <br /> <br />(a) The obligation and right to file, defend, prosecute, and per- <br />fect all water right and water storage rights in existence or to be filed <br />for all designated projects identified under 2.2 above. <br /> <br />(b) The right to develop, finance, construct, or ovn any project <br />facilities developed, and operate and maintain any of said designated <br />projects jointly or solely, as the parties may hereinafter agree. <br /> <br />. <br /> <br />(c) Said rights and obligation in (a) and (b) above apply to <br />both projects designated for the benefit and use of Reclamation as well <br />as projects designated for the benefit of third party water users. <br /> <br />(d) Said rights in (b) above together with Recla~tion's rights <br />to participate are to be the subject of modification to this contract pur- <br />suant to section 2.1 herein. <br /> <br />(e) CORY shall have the right to take water from the projects in <br />lieu of cash payments based upon a formula agreeable to the parties hereto. <br /> <br />(f) If authorized, it is intended that there be reimbursement of the <br />Federal investment cost in the shortest practical period not to exceed 40 years. <br />The Federal investment cost shail include construction charges, interest during <br />constr~ction, interest on investment where applicable, and operation, main- <br />tenance, and replacement costs. <br /> <br />(g) All modifications .or additions to this contract or, in <br />Reclamation's discretion, follow-on contracts related to CORY's activities <br />contained herein shall be on terms and conditions as similar as possible to. <br />the terms of this contract and may b~ executed at any time now or in the <br />future whenever the parties agree in any manner on a joint participation Or <br />development of any of the glacial muraines within the State of Colorado in . <br />which CORY has water rights. Said participation shall be deemed a designa- <br />tion giving rise to CORY's rights to act as project sponsor for those <br />designated projects. <br />