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recognize that, simultaneously with the execution of this Lease, ' <br /> the City has leased the right to receive two hundred acre feet of <br /> its Fully Consumable water to Loveland Ready Mix and that the <br /> City may, in the future, lease additional portions of its Fully <br /> Consumable Water to persons other than Lessee . The ,Lessee' s <br /> right to receive one hundred acre feet of the City' s Fully <br /> Cohsuma`ble Water pursuant to this Lease shall be equal to the <br /> right o'f Loveland Ready Mix to receive its two hundred adze feet <br /> of Fully Consumable Water such that in the event less than three <br /> hundred acre feet of Fully Consumable Water is available in any <br /> year, Lessee and Loveland Ready Mix shall each be entitled to <br /> receive a proportionate share of the available Fully Consumabley <br /> Water. The right of Lessee to receive one hundred acre feet of <br /> the City' s Fully Consumable Water under this Lease shall be <br /> deemed to be a first right relative to all others, such that in <br /> the event the available Fully Consumable Water in any year is in <br /> excess of three hundred acre feet but is not sufficient to meet <br /> the needs of all persons holding leases of Fully Consumable <br /> Water, Lessee shall receive up to its entire one hundred acre <br /> feet allotment from the first three hundred acre feet of Fully <br /> Consumable Water available. <br /> 3 . In consideration of the right to receive the Leased <br /> Water, Lessee shall , upon execution of this Lease, pay City the <br /> sum of Two Hundred Twenty Thousand and 00/100 ($ 220 , 000 . 00) <br /> Dollars in certified funds . By entering into this Lease with the <br /> Lessee., the City is and shall be under no obligation to file an <br /> applicayytion' for a change of water rights or for a plan of <br /> augmentation concerning the use of the Leased Water by the <br /> Lessee: <br /> {"- The City "shall not be responsible for the implementation of <br /> any temporary substitute supply plan or augmentation plan <br /> concerning the use of the Leased Water. The cost and expense of <br /> a y _such proceeding shall be that of the Lessee. The- City agrees <br /> to °furni`sh sufficient 'Leased Water so that, subject to the <br /> provisions of this Agreement, the net usable first use or <br /> subsequent use water obtained by the Lessee shall be 100 acre <br /> feet . The City shall not be obligated to deliver Leased Water to <br /> Lessee unless Lessee shall have first provided written notice to <br /> the°City that Leased Water will be required in a given year by <br /> April 1 of the preceding year. <br /> The City shall deliver the Leased Water under this Lease in <br /> a t-dtal annual quantity as specified by the Lessee and at <br /> specific rrionehl°y delivery times and in specific monthly <br /> quant'ities acco'r`ding to the evaporation table, attached hereto as <br /> �3- <br />