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<br />WHEREAS, the Serviee and the CWCB will benefit from the study <br />and evaluation of the effeets of the releases of water from <br />Steamboat Lake on the important habitat of endangered fishes in the <br />Yampa River and such releases will "eontribute to sufficient <br />progress under the Reeovery Program. <br /> <br />~ <br /> <br />Terms and Conditions <br /> <br />In consideration of the mutual agreements eontained herein and <br />other good and valuable eonsideration, the receipt and sufficieney <br />of which are hereby acknowledged, Parks, the Service, and CWCB as <br />the Serviee's sublessee, agree as follows: <br /> <br />1. General. Parks hereby leases to the Serviee up to 2,000 <br />acre-feet annually for the lease payment deseribed in paragraph 2 <br />below and for the term deseribed in paragraph 4 below, but only for <br />sublease to the CWCB pursuant to paragraph 6 below. For purposes <br />of this Lease and Sublease, the annual lease period shall start on <br />Oetober 1 and end on September 30. The point of delivery for Parks <br />is the outlet works of willow Creek Dam. <br /> <br />2. Lease Pavment. An annual lease payment of $30,000.00 <br />($15.00 per acre foot of water plus $2,000.00 ($1.00 per aere foot <br />for operation and maintenance) shall be made by the Service to <br />Parks. The annual lease payment shall be payable to Parks by no <br />later than September 30 of eaeh year. This payment shall only be <br />made after the quantity of water identified herein has been <br />released and shall be paid at the stated unit price for the <br />quantity aetually released. <br /> <br />3. Additional Water. The Serviee will have the option to <br />lease additional water, up to 1,300 aere-feet, from Parks each <br />year, depending on water availability as determined by Parks, but <br />only for sublease to the CWCB pursuant to paragraph 6 below. The <br />Service shall pay for any additional water aecording to the same <br />terms as described in paragraph 2 of this Lease and Sublease. <br />Parks shall advise the serviee of the amount of additional water, <br />if any, available for lease by no later than May 1 of each year. <br />Upon notiee of availability by Parks, the Service shall have 30 <br />days to exereise its option to lease additional water. Delivery <br />shall be aecording to the provisions deseribed in paragraph 5 of <br />this Lease and Sublease. <br /> <br />4. Terms. The Lease and Sublease will commenee on April 15, <br />1996, and run through September 30, 1996. Thereafter, this lease <br />may be renewed at the option of the Serviee, eaeh year, on October <br />1, for up to four additional years. The Service shall notify Parks <br />and the CWCB of the serviee's intent to exereise its option to <br />renew 60 days prior to expiration of the lease term. At the. <br />eonelusion of the last option year, the parties agree that <br />reasonable efforts shall be made to enter into a new Lease and <br /> <br />5 <br /> <br />_'''.., n'~ <br /> <br />