Laserfiche WebLink
<br />at or above an elevation of 7,429 feet above <br />sea level (as provided in permits) <br /> <br />10. Forty percent of all the inflow available to the reservoir <br />when the reservoir is in priority shall be stored and allotted to <br />Denver's account and sixty percent to the River District's account <br />until one of the accounts fills, and thereafter storage shall be <br />attributable entirely to the other account until full. Each <br />account shall be maintained on an administration year basis <br />beginning April 16 in each year and expiring on April 15 of the <br />following year. <br /> <br />11. The River District Shall keep a strict and accurate <br />accounting of all water stored in the Reservoir and releases <br />therefrom and the records shall be subject to audit by Denver at <br />any time during regular business hours, at its sole expense. <br />Accounting reports shall be given to Denver not less frequently <br />than once each calendar month. On Denver's request, the accounting <br />information will be made available to Denver on a daily basis. <br /> <br />12. To the extent that any governmental permits or court <br />approval may be necessary for Denver to use the water stored in the <br />Denver Share as provided in the Substitution Agreement, subsequent <br />to the Term of the Lease Agreement, Denver shall be responsible for <br />the obtaining thereof; provided, however, that the River District <br />shall not oppose and shall actively support any such permits or <br />court approval. When Denver requests, the River District will join <br />Denver in seeking an extension ot the Substitution Agreement beyond <br />its current expiration date contained in Paragraph 12 of the <br />Substitution Agreement. <br /> <br />DENVER'S FINANCIAL COMMITMENT <br /> <br />13. Denver shall make payments to the River District <br />according to the payment sched~le attached hereto as Exhibit B, <br />commencing on the first business day of the quarter following <br />issuance of a Notice of Award pursuant to paragraph 17, which <br />payments shall have a calculated present value of $43 million as of <br />July 1, 1992, using a discount ~ate of 6.75%. <br /> <br />14. Denver and the River District agree that there is an <br />element of risk in proceeding toward the construction of the <br />Reservoir because of the power of the court to impose restrictive <br />limitations in Case No. 91CW252 referenced in Recital F; possible <br />limitations on the performance of the Lease Agreement and this <br />Agreement arising out of the appeal of the Bureau of Land <br />Management permit referenced in Recital H; possible adverse <br />restrictions or limitations which could be inserted in the Grand <br />County Permit issued under C.R.S.s24-65.1-501 if such permit <br />, <br /> <br />5 <br />