2016-02-01_HYDROLOGY - M1987049 - Laserfiche WebLink

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WATER STORAGE LEASE AND OPERATING PLAN This WATER STORAGE LEASE AND OPERATING PLAN (the "Lease and Operating Plan") is made and entered into this J�� day of k un ,2014 (the"Effective Dale") by and among the CITY OF BRIGHTON, COLORADO, a Colorado home rule municipal corporation (the "City") and READY MIXED CONCRETE COMPANY, a Colorado corporation ("RMCC" or the "Company'). The City and the Company may be referred to collectively 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, among 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 (the "MLRB Permit") and reclamation of the same is complete with the exception of the establishment of reclamation seeding; WHEREAS Paragraphs L6, 5.1.3, 5.2.2 and 8 of the PSA require the Parties to enter this Lease and Operating Plan, the terns and conditions of which are to establish mutually acceptable terns for the diversion, storage, and release of water, and for the administration of the same, in City-owned water storage structures 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 and approved by the District Court, Water Division 1, on December 4, 2013 in Case No. 90CW039 pertaining to RMCC's North Tower Pit ("NTP Decree"), and of a Substitute Water Supply Plan ("SWSP") 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 "Bromley SWSP"); WHEREAS the Parties entered a "First Amendment 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 RMCC and Paragraph 2 of which specified a schedule to accelerate the Second 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;