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<br />r <br /> <br />) <br /> <br />) <br /> <br />.use and preservation of the water rights conveyed by this <br /> <br />Agreement, the Town shall lease back to Annexor the <br /> <br />following water rights conveyed to the Town by this <br />Agreement: Such water as. is reasonably required .for any <br />agricultural uses on the subject property; Such water rights <br />as are required to off set the water required for the <br />lake/reservoir to be constructed on the sUbject property in <br />accordance with the present. development plan .for the subj ect <br />property; Such water as may be used by Annexor fot.. <br />irrigation purposes following the development of the subject <br />property. The leaseback provisions set f~];th herein shal.l <br />. <br /> <br />be subject to the negotiation and execution of a water lease <br />between the Town and the Annexor. <br /> <br />) <br /> <br />D. <br /> <br />FOREIGN WATER - This is water, which is not owned by the <br /> <br />OJ" " <br /> <br />Kern Reservoir and Ditch Company stockholders, o~ i'~ not <br />part of the Clammer and Gregory agreement of 1905,. or water <br /> <br />) <br />i <br /> <br />owned by New Cache_La_Poudre La Poudre I~rigation or <br />Reservoir stockholders that are not stockholders of the Kern <br /> <br />Rese~voir and Ditch Company, <br /> <br />. <br />E. Running charges for foreign water to be set annually by the <br /> <br />Board of Directors. These charges will be billed annually <br /> <br />in arrears on or before October 1st of each year and become <br /> <br />delinquent November 1st of same. A 1 1/2% per month late <br /> <br />payment assessment will be added to all unpaid runninq <br /> <br />charges. <br /> <br />~ <br />, <br /> <br />F. Running charges as mentioned in Section C are not applicable <br />.to Kodak Colorado Division because. of previous agreements.- <br /> <br />G. Foreign water can only be run if there is capacity in the <br />9 <br />