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HASP <br />November 25, 2013 <br />Golden Cross Aggregates, Inc <br />2001 Platte Drive <br />Fairplay, CO 80440 <br />Subject: Water Sale — Gloria Z Mining Operation <br />Headwater Authority of the South Platte <br />PO Box 1566 <br />Fairplay, CO 80440 -1566 <br />719 - 466 -3908 <br />HASP @HaspWater.com <br />REM' L-1,77. <br />FEB 2 C 20 1y <br />Division of Rec nrA )n, <br />Mining & <br />This letter agreement is between Golden Cross Aggregates, Inc, Buyer, and the <br />Headwater Authority of the South Platte, Seller. Seller will cause to be released up <br />to one (1) acre -foot of water for which Seller has the right of first use until October <br />1, 2014. The one (1) acre -foot of water shall be delivered to the Middle Fork of the <br />South Platte River for Buyer's benefit for a cost of five hundred ($500) per acre - <br />foot. Buyer agrees to the following terms and conditions: <br />1. Buyer's mining operations will cause up to one (1) acre -foot of depletions to the <br />Middle Fork of the South Platte River, pursuant to the substitute water supply plan <br />( "SWSP ") applied for by Buyer in November of 2012 and revised several times with <br />a final revision submitted October 28, 2013. Upon approval of the SWSP by the <br />State Engineer, Buyer shall provide Seller with a copy of the approved SWSP, and <br />Seller shall deliver up to one (1) acre -foot of water to Buyer as specifically directed <br />by Buyer in conjunction with Garver Brown, the District No. 23 Water <br />Commissioner. Seller's primary source of augmentation water is from Spinney <br />Mountain Reservoir, but Seller may substitute any source of water it has available <br />with the approval of the Division Engineer. Buyer is aware that Seller may not be <br />able to deliver water to or exchange water to Buyer's point of depletion on the <br />Middle Fork of the South Platte River from Spinney Mountain Reservoir because of <br />the stream flow conditions. Seller's inability to deliver water to or exchange water <br />to the point of depletion on any day because of the stream flow conditions shall not <br />constitute a breach of this lease by Seller. In the event Seller is unable to deliver <br />water to or exchange to the point of depletion due to stream flow conditions, then <br />Buyer agrees to cease causing out of priority depletions and to not resume until such <br />time as Seller can augment the depletions by exchange. <br />Pagel of 2 <br />20131115 Golden Cross Lease .docx <br />