PROJ00480

• Contract/PO #: C150015
• Contractor Name: Highland Ditch Company
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Feasibility Study

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ARTICLE III

ALLOCATION OF WATER

3,1 The Trustees shall determine a quota in inches of water to be delivered from
storage to each shareholder on or before May 15th of each year, If additional water
becomes available after the initial quota is declared, the Trustees may increase the quota.
In declaring the quota, the Trustees shall take into consideration losses which will result
from seepage and evaporation from the Reservoirs,

3.2 The available direct flow water shall be distributed pro-rata to shareholders
based on the number of shares owned by the shareholder during the time period in which
the direct flow water is available. Each shareholder is allowed 50 a.f. of direct flow
water for each share of stock owned before an excess charge of $5.00 per a.f. is
charged.

3,3 Leases or temporary transfers of any water to other Highland Shareholders for
use on lands under and historically irrigated with water from the Highland Ditch may be
made anytime during the operating season of the Highland Ditch, Any lease or temporary
transfer shall be made in writing by the leasing or transferring shareholder prior to the
delivery of water, All leases or temporary transfers must be done on an annual basis,

ARTICLE IV

USE OF COLORADO-BIG THOMPSON WATER

4,1 Any Colorado Big-Thompson (CBT) project water available for use as a result
of a quota declared in the previous year (carryover) and assigned for delivery down the
Highland Ditch shall be available to individual shareholders who owned or leased the CBT
water the previous year, Carriage of carryover water will be allowed following the carriage
of direct flow and allocated storage water,

4,2 Each stock holder is allowed carriage of 50 aJ, of CBT Project Water at the
following charges for each share of stock owned,
Project Water Charges are levied as follows:
$2.00 per A.F. for the 1st 50 A.F.
$2.25 per A.F. for the 2nd 50 A.F.
2.50 per A.F. for anything over 100 A.F.
$10.00 per A.F. for non-stockholders

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