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09/23/2013 12 :49 9703530721 BUCKLEN EQUIPMENT PAGE 02/04 <br />WA'T'ER LEASE AGfiEEMENT <br />(GRAHAM DITCH) <br />This Water Lease Agreement CAgreemenV) i5 entered into this day of <br />i-' , 2013 by and betwoen Bucklen ggWprnent Co., Inc., " Lessee- and GRAHAM <br />DRAINAGE DiTCH COMPANY CDftch Company "), 'Lessor". <br />_RECITALS <br />A The Ditoh Company owns and operates, for tha banse of Its shoMholders, the Graham Seepage <br />and Drainage Canal and the water right decreed to th4t StRMWre in case No W- 781 8-74, DistfjCt Court, <br />Water Division No.1 ( Graham Ditchl. The Graham Ditch is decreed as a developed wafer right for up to <br />2800 acre fleet per year. The Graham ditch ofiglnates in Section 27 of Township 7 North, Range 66 West <br />of the 61h P.M., Weld County, Colorado end is ompabie of delivering water to the Cache La Poudre River at <br />two points In Ssction 36 of Township S North, Range 66 West of the 6k" P.M., Weld County, Colorado_ <br />B. Lessee intends to opera% and administer a Substitute. Water Supply Plan ("SWSP "). Lease <br />.. � .. "'desires tq Iea�wat>ar tamperrarit5 +-from °Lessdrunf�-its �rmanenE sv�rces of• sugra�ent+et;ot�waier•are•ar� -- .�. - . • ..... <br />place. <br />C. Lessor Is willing to tease to L63see water delivered from the Graham pitch to the Cache Le <br />Poudre River, and Leneo desires to lease such water, in accordanra'with the terms and conditions of <br />this agreement, <br />EE E T <br />Now, therefore, In consideration of the foregoing recitals, and mutual -covenants and agreements herein, <br />and for other good and valuablo conWeration, the receipt and sufficianoy of which idfmm ., <br />acknowie'dgatl„ the parties agreeas follows <br />1. .. Leese,.• Lessor hereby leesea and agrees to provide to Lessee up to 2.9 acre feet of fully <br />consumable water from the Giraham Ditch' (the °Graham. Ditch WaW) amording,to the monthly schedule <br />below, subject to the limitations, terms end conditions stated he in. <br />Anvarue M o4yt a Y <br />Apr <br />May <br />Jun <br />Jul <br />Aug <br />Sep <br />Oct <br />Tout <br />0.7 <br />0 <br />0 <br />0 <br />0 <br />0 <br />2.2 <br />2.5 <br />2. Rent. Lessee shall Tray Lessor $60 for each acre foot of fully consumable Graham Ditch Water <br />that in made: available to leases in accordance with the measurement and delivery terms set forth In <br />paragraph 3 of this Agreement and approved by the State Engineer for consumpt-nre use In the SWSP. <br />VVIthln ttve (5) days following the and of each calendar month, Lessor shall provide Lessee with a written <br />statement indicating the total number of more feet of Graham Ditch Water made available to Lessee for <br />replacement and augmentation use during that month. Lassee's pRyment shall be due no later than <br />twenty (20) days following submission of the bill. Lessee shall make all rental payments to the Lessor in <br />care of the Ditch Company, and the Ditch Company shgil be responsible for distributing such payments <br />amongst its shareholders according to their pro rata share. <br />3,- MlL&rement and Dailverv,. The point of delivery for the Graham Hitch water ieasad pursuant to <br />this agreement shall be to the Cacho La Poudre River at the paint where the East Lateral of the Graham <br />Ditch is capable of delivering to the Cache Le Poudre River in Sactjori 36 of TbwM, hip 6 North, Range 66 <br />West of the Gm P.M., Weld County Colorado. Lessor shall drake daily metered measurements or <br />deliveries of the Graham Ditch Water end shall provide reports of such deliveries to Lessee on A weeitly <br />1 of 3 <br />