C153771 Contract - Laserfiche WebLink

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. . D. HCWUA has applied for grant and/or loan funds from the Colorado Water Conservation Board ("CWCB") for the purpose, inter alia, of purchasing the HCWUA Box Springs Water Right described below. Such a loan or grant may require approval by the CWCB, the Colorado General Assembly, and the Governor of the State of Colorado. AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants and promises herein, the parties agree as follows: 1. Sale and Purchase. Subject to the conditions and upon the terms set forth herein, the Contracting Shareholders agree to convey and HC::WUA agrees to purchase 40 c.f.s. out of the following surface water right of Box Springs (the "HCWUA Box Springs Water Right"): 60 cubic feet of water per second of time decreed to Box Springs Canal No. 1, with an appropriation date of October 24,1899, and an adjudication date of August 30, 1922, as adjudicated in the District Court for the County of Bent and the State of Colorado. 2. Adjustments to Conveyance of Water Ricl1ts. If the State or the Water Court advises HCWUA that a greater portion of the HCWUA 130x Springs Water Right is required to permit pumping of HCWUA wells without curtailment under the Arkansas Rules, then the Contracting Shareholders agree to convey, at no additional Cost to HCWUA, such additional portion of the HCWUA Box Springs Water Right as is deemed necessary by HCWUA to ensure maintenance of pumping of the HCWUA wells without curtailment; but in no event shall the Contracting Shareholders be obligated ~o convey to HCWUA more than an additional six cubic feet per second from the HCWUA Box Springs Water Right. Under the circumstances described in Section 7.0 of the Settlement Agreement, the portion of the HCWUA Box Springs Water Right to be conveyed to HCWUA may also be reduced to no less than 30 c.f.s. -2.