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ATTACHMENT 2 <br />WATER LEASE AGREEMENT <br />This Water Lease Agreement is made and entered into thisl_s day of <br />",, , 2013, by and between the Lessor Arkansas Groundwater Users Association, <br />a d /or assigns, P.O. Box 11446 Pueblo, CO 81001 (hereinafter "AGUA ") and Lessee <br />ALL -RITE Paving Inc., (P.O. Box 165 Canon City, CO 81215) (hereinafter "ALL- RITE ") <br />WITNESSETH: <br />WHEREAS, this Agreement pertains to a lease of 43 AF of fully consumable <br />water delivered to the Arkansas River at a point in Section 36, Township 23S, Range <br />55W, of the 61h PM. <br />WHEREAS, ALL -RITE has a need to lease 43 of fully consumable water for the <br />time period starting April 1, 2013 and ending March 31, 2014 for depletions caused by <br />their North River Pit. <br />NOW THEREFORE, in consideration of the mutual promises contained herein <br />and other good and valuable consideration, the receipt and sufficiency of which is <br />hereby acknowledged, the parties agree as follows: <br />1. Lease: AGUA hereby leases 43 AF of fully consumable water and ALL -RITE <br />hereby leases said water pursuant to the terms of this Agreement. <br />2. Term: The term of this lease between AGUA and ALL -RITE shall commence on <br />April 1, 2013 and shall continue in full force and effect through March 31, 2013. Any <br />water not delivered by March 31, 2014 may revert back to AGUA. There shall be no <br />automatic extensions of this lease or any right hereunder unless the parties enter into a <br />written renewal or extension agreement. <br />3. Rentals: The rental payment obligation from ALL -RITE to AGUA shall consist of <br />ALL -RITE paying to AGUA $425 per AF of fully consumable water purchased. Total <br />payment shall be due no later than April 31, 2013, <br />4. Use of subject water rights: The water delivered to ALL -RITE may be used for all <br />lawful purposes. <br />5. If ALL -RITE, its agents, or employees responsible for discharging the obligations <br />under this lease have not properly satisfied such obligations, AGUA may declare an <br />event of default and choose among the remedies set forth in Paragraph 5 below. <br />6. Default: In the event of a default hereunder by either party, the non - defaulting <br />