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WATER LEASE AGREEMENT <br />This Water Lease Agreement is made and entered into this ZL�d' day of <br />2015, by and between the Lessor Arkansas Groundwater Users Association, <br />andlo assigns, P.O. Box 11446 Pueblo, CO 81001 (hereinafter "AGUA ") and Lessee <br />Martin Marietta Materials, 10170 Church Ranch Way, Suite #201, Westminster, CO <br />80021 (hereinafter "MARTIN MARIETTA ") <br />WITNESSETH: <br />WHEREAS, this Agreement pertains to a lease of 61 AF of fully consumable <br />water delivered to the Arkansas River at a point in Section 34, T 20 S, R 63 W <br />WHEREAS, MARTIN MARIETTA has a need to lease 61 of fully consumable <br />water for the time period starting April 1, 2015 and ending March 31, 2016. <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 61 AF of fully consumable water delivered to the <br />Arkansas River at a point in Section 34, T 20 S, R 63 Wand MARTIN MARIETTA <br />hereby leases said water pursuant to the terms of this Agreement. <br />2. Term: The term of this lease between AGUA and MARTIN MARIETTA shall <br />commence on April 1, 2015 and shall continue in full force and effect through March 31, <br />2016. Any water not delivered by March 31, 2016 may revert back to AGUA. There shall <br />be no automatic extensions of this lease or any right hereunder unless the parties enter <br />into a written renewal or extension agreement. Water shall be delivered according to the <br />schedule in Attachment A of this agreement. <br />3. Rentals: The rental payment obligation from MARTIN MARIETTA to AGUA shall <br />consist of MARTIN MARIETTA paying to AGUA $365 per AF of fully consumable water <br />purchased. Total payment shall be due no later than March 31, 2015. <br />4. Use of subiect water rights: The water delivered to MARTIN MARIETTA may be <br />used for all lawful purposes. <br />5. If MARTIN MARIETTA, its agents, or employees responsible for discharging the <br />obligations under this lease have not properly satisfied such obligations, AGUA may <br />declare an event of default and choose among the remedies set forth in Paragraph 5 <br />below. <br />5. Default: In the event of a default hereunder by either party, the non - defaulting <br />