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Clinton Ditch & Reservoir Co.-Climax <br /> 06CW252 Stipulation <br /> Company. Climax shall provide to the Company a copy of any terms <br /> upon which such a transfer may be conditioned, and the Company shall <br /> have 30 days thereafter to object to the transfer on such terms. Climax <br /> shall not proceed with such transfer until it has satisfied all of the <br /> Company's objections. <br /> 5. Since 2004, the Reservoir Company and the Denver Water Board have been <br /> conducting high resolution surveys of the Reservoir. Based upon those surveys,the Reservoir <br /> Company and the Denver Water Board have determined the Reservoir capacity to be 4,460 acre-feet <br /> at the spillway crest elevation of 11,059.0 feet. <br /> 6. The Reservoir Company and Climax agree that the adjudication of the water rights <br /> reflected in the proposed decree attached hereto as Exhibit A does not, without further agreement, modify <br /> the 1,200 acre-feet firm annual yield provided for in paragraph 7(a)of the Reservoir Purchase Agreement, <br /> or paragraph 1(a) of the Clinton-Frasier Agreement. <br /> 7. The Reservoir Company and Climax agree that the intent of paragraph 7(a)of the <br /> Reservoir Purchase Agreement was to fill the Reservoir to its as-built capacity. The Reservoir Company <br /> and Climax further agree that the as-built capacity of the Reservoir is 4,460 acre-feet at the spillway crest <br /> elevation of 11,058.0 feet,which includes the 210 acre-feet absolute water right provided for in paragraph <br /> 4(e) in the Proposed Decree. <br /> 8. The Reservoir Company and Climax agree that the"Second Filling" right specified in <br /> paragraphs 4(a)and 5 of the decree adjudicated by the Water Court on September 17, 1998,in Case No. <br /> 98CW57,and the refill right specified in paragraph 4(e)of the Proposed Decree in this Case No. <br /> 06CW252 are not included in or subject to any of Climax's obligations under paragraph 7(a)of the <br /> Reservoir Purchase Agreement as quoted in paragraph 4 above_Climax's obligations under paragraph 7(a) <br /> of the Reservoir Purchase Agreement as quoted in paragraph 4 above continue to apply to(i)the 4,250 <br /> acre feet specified in paragraph 6 of the decree adjudicated by the Water Court on October 14, 1979 in <br /> Case No. 79CW49 and made absolute therein, (ii)the"Use Enlargement" right specified in paragraphs <br /> 4(a)and 5 of the decree in Case No. 98CW57, and(iii)the 210 acre-feet absolute water right provided for <br /> in paragraph 4(e)in the Proposed Decree. <br /> 9. Climax shall remain a party in the above-captioned matter for the limited purpose <br /> of ensuring that any final ruling or decree complies with the terms of this Stipulation. <br /> l0. The Parties hereto shall bear their own costs and attorneys'fees. <br /> l 1. Each person executing this Stipulation represents and warrants that he or she has <br /> been duly authorized by one of the Parties to execute this Stipulation and has the authority to <br /> bind said Party the terms hereof. <br /> [The rest of this page left blank intentionally] <br /> 3 <br /> Exhibit B <br /> AM-06 Settlement Agreement <br />