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WATER LEASE AGREEMENT <br />THIS AGREEMENT is made and entered into as of this 11441day of August, 2012, by <br />and between the Board of Water Works of Pueblo, Colorado (hereinafter called "Board ") and <br />Transit Mix of Pueblo, Inc. (hereinafter called "Lessee "): <br />RECITALS <br />WHEREAS, the water use that is the subject of the Agreement is of a type not normally <br />within any regular rate schedule fixed by the Board; and the parties mutually agree that the terns <br />of lease and delivery of water for the purposes hereinafter set forth should be the subject of this <br />special Agreement; <br />WHEREAS, Lessee desires to procure raw water from the Board for replacement of <br />depletions resulting from gravel mining and concrete mixing operations in Pueblo County, <br />Colorado. <br />WHEREAS, the Board desires to supply raw water to Lessee for its use for these <br />purposes. <br />NOW, THEREFORE, for and in consideration of the mutual promises herein contained <br />and the payments to be made hereunder, the parties hereto agree as follows: <br />AGREEMENT <br />I . Quantity. Each contract year during the term of this Agreement, commencing October 1, <br />2012, the Board will deliver to Lessee 120 acre -feet of water. One hundred twenty acre -feet <br />shall be both the minimum and maximum quantity of water to be paid for and made available for <br />delivery under this Agreement for each of the contract years. A contract year is defined as a one - <br />year period from October 1 to September 30 of the following calendar year. <br />2. Term of Agreement. This Agreement shall continue in force for a period of 10 years <br />commencing October 1, 2012 and terminating September 30, 2022. <br />3. Notice. The Board agrees to make available for delivery up to 120 acre -feet of water per <br />contract year at the request of Lessee. The Lessee shall notify the Board at least 24 hours in <br />advance of any requested release of water up to the flow rate set forth in Paragraph 9. <br />4. Delivery of Raw Water. The water to be delivered hereunder shall be raw, untreated <br />water. <br />5. Delivery of Consumable Water. The Board agrees to deliver to Lessee, at the Place of <br />Delivery described in Paragraph 7, transmountain water or other water totally consumable under <br />Colorado law, including but not limited to, reusable return flows from transmountain water rights <br />or other fully consumable water. <br />Page I of 7 <br />