Laserfiche WebLink
to administer and comply with the NTP Decree and the Bromley SWSP (if any, in the case of the <br /> latter), not to exceed a total of 150 acre feet(the"Renewal Term"). <br /> 1.2.1 RMCC's right to renew shall extend until the NTP Decree is <br /> terminated by the Water Court, Water Division 1 and the Bromley SWSP is terminated <br /> by the Colorado Department of Natural Resources,Division of Water Resources, <br /> 1.2.2 RMCC shall provide written notice to the City of its intent to <br /> renew the Initial Term (and any subsequent Renewal Term) by no later than ninety (90) <br /> days prior to the expiration of the Initial Term(or any subsequent Renewal Term). <br /> 1.3 Consistent with Paragraph 1.2 of the First Amendment, the lease rate for <br /> the Reserved Water Storage shall be One Dollar($1) per year until February 5,2017,after which <br /> date the lease rate for the Reserved Water Storage shall be Two Hundred Fifty Dollars($250)per <br /> acre foot per year, which lease rate shall remain effective for the remainder of the initial Term, <br /> after which time the lease price per acre foot of storage shall increase by 4% for every <br /> subsequent 10-year period during any subsequent Renewal Term. <br /> 2. Lease of Replacement Water. For so long as RMCC is required to maintain the <br /> Bromley SWSP the City shall lease to RMCC for that purpose, on an annual basis and on the <br /> same or similar terms as the"Agreement Between the City of Brighton, acting by and through its <br /> Water Activity Enterprise and Ready Mixed Concrete Company," dated November 1, 2010 <br /> (subsequently extended by the Parties effective December 17, 2013), an amount of water not to <br /> exceed 250 acre feet per lease year at the rate of Three Hundred Fifty Dollars ($350) per acre <br /> foot. This water shall be referred to herein as the "Lease Water". RMCC has represented to the <br /> City, assuming the current level of demand for construction aggregate materials in the markets <br /> RMCC serves from the Kenneth Mitchell Lakes properties, that the mining and reclamation <br /> under the MLRB Permit may be completed by as soon as December 31,2016. <br /> 2.1 As provided in Paragraph L2 of the First Amendment, the City agreed to <br /> forego receipt of payments from RMCC for the Lease Water in 2014 until such date that the <br /> Second Closing was completed. The Parties acknowledge and agree that the Second Closing <br /> was completed on March 14, 2014, which date shall serve as the start date for RMCC to make <br /> lease payments to the City for replacement water for the 2014 lease year. <br /> 3. Operating Plan. The purpose of this Operating Plan is to address the <br /> administration of the Reserved Water Storage and the Lease Water during the Initial Term and <br /> during any subsequent Renewal Term. This Operating Plan shall run and be coincident with the <br /> Initial Term and any Renewal Term and it shall remain effective until the NTP Decree is <br /> terminated by the Water Court, Water Division 1 and the Bromley SWSP is terminated by the <br /> Colorado Department of Natural Resources,Division of Water Resources. <br /> 3.1 The City shall take delivery of RMCC's 70 Fulton Ditch Shares and, as <br /> directed by RMCC, provide all water diversions and measuring devices necessary to facilitate <br /> RMCC's administration of the NTP Decree and Bromley SWSP. The following describes the <br /> coordinated obligations of the Parties during the Initial Term and any Renewal Term as they <br /> 3 <br />