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WATER LEASE AGREEMENT <br />_ This Water lease A g r e e m e n t is made and entered into this _q_ day of <br />,30 <br />2017, by and between the Lessor Arkansas Groundwater Users Association, <br />and/or'assigns, P.O. Box 11446 Pueblo, CO 811001 (hereinafter "AQUA") and Lessee <br />Martin Marietta Materials, 10170 Church Ranch Way, Suite #201, Westminster, CO <br />80021 (hereinafter "MARTIN MARIETTA") <br />WITNESSETH: <br />WHEREAS, this Agreement pertains to a lease of 62.7 AF of fully <br />consumable water delivered to the Arkansas River at a point in Section 34, T 20 S, <br />R63W <br />WHEREAS, MARTIN MARIETTA has a need to lease 62.7 of fully <br />consumable water for the time period starting April 1, 2017 and ending March 31, <br />2018. <br />NOW THEREFORE, in consideration of the mutual promises contained herein <br />and other good and valuable consideration, the receipt and sufficiency of which is <br />hereby acknowledged, the parties agree as follows: <br />1. Lease: AQUA hereby leases 62.7 AF of fully consumable water delivered to <br />the Arkansas River at a point in Section 34, T 20 S, R 63 Wand MARTIN MARIETTA <br />hereby leases said water pursuant to the terms of this Agreement. <br />2. Term: The term of this lease between AQUA and MARTIN MARIETTA shall <br />commence on April 1, 2017 and shall continue in full force and effect through March 31, <br />2018. Any water not delivered by March 31, 2018 may revert back to AQUA. There <br />shall be no automatic extensions of this lease or any right hereunder unless the parties <br />enter into a written renewal or extension agreement. Water shall be delivered according <br />to the schedule in Attachment A of this agreement. <br />3. Ren als: The recital payment obligation from MARTIN MARIETTA to AQUA shall <br />consist of MARTIN MARIETTA paying to AQUA $365 per AF of fully consumable water <br />purchased. Total payment shall be due no later than March 31, 2017. <br />4. Use of subiect water ri hts: The water delivered to MARTIN MARIETTA may be <br />used for all lawful purposes. <br />5. If MARTIN MARIETTA, its agents, or employees responsible for discharging the <br />obligations under this lease have not properly satisfied such obligations, AQUA may <br />declare an event of default and choose among the remedies set forth in Paragraph 6 <br />below <br />