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!M Rio 11110 Nil JIM ,.11111111#11111111111 ` <br /> 4M U 64/22/2Mt e1:3V AM <br /> I of a a 44.60 0 G." M 6.44 prw..-• County. Co. <br /> 9. DOW acknowledges that because some of the DOW desigazated uses are not irnmediately <br /> impleutentable, a period of time will pass before the DOW would use the full arnoum of water <br /> for its augmentation and wildlife habitat needs. During this time,DOW agrees to allow <br /> LAWNU to use any water excess to its needs on an annual basis. LA%1v viA agrees to <br /> maintain records of such use as provided for in paragraph 4 above. <br /> 10. It is recognized that LAWMA may,but is not required to, purchase water from other entities, <br /> such as Southeastern Colorado Water Conservancy District, The City of Colorado Springs, or <br /> The City of Pueblo.to fulfill or help fulfill its obligations to DOW under this agree:rricnt. <br /> 11. Both parties to this Agreement recognize and acknowledge that the terms of this Agreerne w <br /> rely on the best assessment of the parties as to future events such as water court litigation,and <br /> future conditions regarding value and avaRability of water. Both parties acknowledge that this <br /> Agreement is intended to be equitable and to the mutual advantage and benefit of both parties. <br /> Both parties further acknowledge that an important element of this AgVeeawnt is that it shall <br /> opcme in perpetuity. Therefore,the parties agree that at any time in the future, should one <br /> party believe the equities of ties agre=em are no longer remnably balanced,that pttrty may <br /> make a substantiated showing to the other party as to the reasons the terms of this agreeeent <br /> are no longer equitable and the Changes to this agreement that such party contends should be <br /> made. 'Ike pasties then agree to make a good faith reassessment of the tarns of this <br /> Agr":me nt and, if reasonable,to amend this Agreement to rebalance the equities. Should the <br /> parties fail to come to an agreement as to reasonable amendments to this Agreement,there <br /> both parties hereby agree to subunit the dispure to btndizig,non-appealable arbitration as <br /> follows: <br /> A Each party shall select a representative knowledgeable in both water rights administration <br /> and managrmeat and water rights valuation. The two party arbitrators shall then select a <br /> third neutral arbitrator. Should the party arbitrators be unable to agree on a neutral <br /> arbitrator within thirty days of their appoi nrnent,then either party may give a written <br /> notice to the:American Arbitration Association asking it to appoint a neutral arbitrator <br /> with appropriate credentials. <br /> B. The party arbitrators and the neutral arbitrator shall serve as a panel to determine the <br /> issues prescute d to them by majority vote. If the three arbitrators cannot reach a majority <br /> position with respect to any issue presented to them, the neutral arbitrator shall determine <br /> that issue. <br /> C. The arbitrators shall reach and announce a decision within suety days of the appointment of <br /> the neutral arbitrator. Subject to the limitations of this period, the arbitrators may conduct <br /> one or more brief hearings and take testimony from the Parties and/or others. <br /> D. Each of the Parties shall bear the expenses of presenting its case and shall pay the fees and <br /> expenses of its party arbitrator. The Parties shall equally bear the fees and expenses of the <br /> -5- <br />