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<br />. <br /> <br />. <br /> <br />00JV\ 1l~(0J\ <br />L w lR:> <br /> <br />~ <br /> <br />WATER RIGHTS PURCHASE AND SALE AGREEMENT <br /> <br />This Water Rights Purchase and Sale Agreement ("Agreement") is made and entered into <br />as of this 29th day ofJanuary, 1997 by and between Box Springs Canal and Reservoir Company <br />("Box Springs"), Kenneth Carter, Ricky L. Markus, Kay L. Markus, Alvin E. Carter, Bryan C. <br />Carter, Ricky L. Markus, Cust. for Jade L. Markus, Ricky L. Markus, Cust. for Garrett J. Markus, <br />Rad Carter, Matthew M. Carter, Clifford D. Patton, and Alberta M. Rusher as shareholders of Box <br />Springs (collectively "Contracting Shareholders"), and Horse Creek Water Users Association <br /> <br />("HCWUA"). <br /> <br />RECITAls. <br /> <br />A. The Colorado State Engineer ("Sta.te") has promulgated Amended Rules and <br />-. <br />Regulations Governing the Diversion and Use ofTJ:ibutary Ground Water in ~Arkansas River <br />Basin, Colorado (the "Arkansas Rules") and submitted these for Water Court approval in Case <br />No. 95 CW 2I 1. Box Springs filed a protest in support of the Arkansas Rules, and HCWUA tiled <br />a protest contesting the Arkansas Rules. <br /> <br />B. Box Springs, the Contracting Shareholders, HCWUA, and the State have negotiated <br />a settlement agreement effective as of January 29,1997 ("Settlement Agreement") concerning the <br />application and validity of the Arkansas Rules in the Horse Creek Basin. The ~ <br />is incorporated herein by reference and the terms of this Agreement are to be construed where <br />possible in harmony with the terms and conditions CJfthe Settlement Agreement. <br /> <br />'Vi R:aS. <br />r 57w~ <br /> <br />C. The Contracting Shareholders are Owners of the HCWUA Box Springs Water Right <br />""'""'" ~ ---..; <br /> <br />described below. The Contracting Shareholders desite to sell and HCWUA desires to purchase such <br />water right, subject to the conditions and upon the terms set forth in this Agreement. <br /> <br />_. <br />, <br /> <br />j <br /> <br />~ <br />, <br />" <br />