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4IJ-0001 4 CORNERS MATERIALS PAGE 03/45 <br />this Agreement. Commencing April 1, 2009, the amount of Leased Water <br />shall not exceed 0.7 c. f s. <br />2. Paragraph 2 of the Water Lease shall be deleted in its entirety and replaced by the <br />following: <br />Term f Agreement. 'lite term. of the Water Lease shall be for so long as <br />Lessee owes the Ovmed Property, or until Lessee terminates the Water Lease <br />for cause or for convenience; or Lessor terminates the Water Lease for cause. <br />3. Paragraph 3 of the Water Lease shall be deleted in its entirety and replaced by the <br />following: <br />Payment. Commencing April 1, 2009, as payment for the Leased Water and <br />use of the Delivery System under the Agreement and this Amendment, <br />Lessee shall pay Lessors an annual base payment of due and <br />payable on April I each year for the ensuing year (the "Base Rate). <br />Additionally, Lessee shall pay Lessors per each acre foot of Leased <br />Water diverted into the Delivery System at Gosney Alternate Pump Station <br />(the "Lease Rate"). The Base Rate and the Lease Rate will increase each year <br />by the percentage increase in the Consumer Price Index (All Urban <br />Consumers, CPI -U, U.S. City Average -- All Items) ("CPP') which occurred <br />during the prior year. This adjustment shall be made automatically and <br />annually on April I " of each year based on the most recently published CPI <br />available prior to the adjustment date. Lease Rate payments shall be made on <br />a quarterly basis for the amount of water actually delivered during the prior <br />quarter from the Gosney Alternate Pump Station to the Ow ted Property. The <br />Paz -des shall cooperate to develop mutually acceptable means ofestablishing <br />monthly delivery schedules to meet Lessee's water requirements; calculating <br />the amount of water delivered to the Owned Property each month; and for <br />billing and payment procedures. <br />3.1. Pavments for Maintenance, ReyJr And Replacement. Commencing <br />April 1, 2009, Lessee is responsible for all costs associated with the <br />maintenance, repair, and replacement of the Delivery System. Whether the <br />Delivery System requires maintenance, repair or replacement shall be in the <br />sole discretion of Lessors. Such discretion shall be exercised to prevent <br />Iosses of water in the Delivery System but shall not be unreasonably <br />exercised. <br />3.2. kgs -Protection ofLeased Water Ruts. In order to legally protect <br />and preserve the Lessors' water rights in the Leased Water, Lessors will <br />advise Lessee of any applications for water rights which, without inclusion of <br />{000-,5190 11) 2 <br />