2015-04-22_HYDROLOGY - M1987049 - Laserfiche WebLink

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WATER STORAGE LEASE AND OPERATING, PLAN This WATER STORAGE LEASE AND OPE ATING PLAN (the "Lease and Operating Plan ") is made and entered -into this ��' day ,of uni , 2014 (the "Effective Date ") by .and among the CITY OF BRIGHTON, COLORADO, a Colorado homd `rule ,municipal corporation (the "City ") -and READY MIXED CONCRETE COMPANY, a Colorado corporation ( "J?MCC" oi• the "Company"). The City and 'the Company may be referred to eoll'eotively herein as the "Parties" or individually as a "Party." RECITALS WHEREAS on August 7, 2012 the Parties entered that certain Purchase and Sale Agreement (the "PSA ") pertaining to the Company's "Lot I Property," Paragraphs 4 and 5 of which specify a two =step process for closing the purchase and sale transaction; WHEREAS under the two -step closing process, RMCC conveyed the Lot 1 Property to the City at the "First Closing" on September 13, 2012 (subject to a reservation of the Construction Aggregate Materials therein), while at the "Second Closing" on March 14, 2014 the Company conveyed to the City, ainong other : things, the "Estimated Water Storage ". and "Additional Water'Storage" described in Paragraphs 1.1 and 1.2 of the PSA; WHEREAS RMCC has mined the Lot 1 Property and the City's adjacent Kenneth Mitchell Lakes -Cell 3 property,pursuant.to Colorado Mined Land Reclamation Board Permit M- 1987 -.049 Amendment 2 (tlie "MLRB Perf d ") and reclamation of the same is complete with the exception of the establishment of reclamation seeding; WHEREAS 1ar4gr4phs 1.6,_5.1,3, 5.2.2.and'8 of the PSA require the Parties to enter this Lease and Operating'Plan, the teniis and c6nditioi�s_of wh'ich.are<fo establish rtmutually acceptable terms ,for the diversion, storage, ,add release Qf w_ater, ;and for the admin"istr.`ation of'the same, in City - 'owned water 'storage struchira as provided herein, in, order to allow-RMCC to implement the terms and conditions •of'the •Findings of Fact. Conclusions of Law, Ruling of ,the Referee and Judgment and Decree of the Water Court as confirmed arid approved -b ' the .District Court; Water Division 1, on December 4, 2013 in Case No. 90CW039 pertaining to RMCC's North ToNver Pit ( "NTP Decree "), and of a Substitute Water Supply Plan ( "S,WSP ") for RMCC's mining and reclamation of the Bromley Lakes site (aka "Kenneth Mitchell Lakes "} as otherwise approved annually by "the Colorado Department of Natural Resources, Division of Water Resources (the "13rornley SWSP "); WHEREAS. the Parties :entered ,a "First Antendinent to Purchase. and Sale Agreement" on .December 3, 2013 -(the "First Amendment" ), Paragraph 1.2' of which amended .certain of the pricing terms set forth in the PSA for water storage and replacement water to- be leased by the City -to R,KICC and Paragraph 2'of which specified a schedule to accelerate'the'S,econd Closing thus necessitating the deposit of certain documents to be prepared by the Parties with the Chicago Title Company by no later than February 5, 2014;