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408323 02-22-2017 Page 8 of 16 <br /> in good condition, maintenance, and re"Eair and shall not allow waste to nectar. Fhe District shall <br /> be responsible for all costs and expenses Incurred for tl•e improvements, maintenance. and <br /> repairs that it undertakes for the Fabements, including the encasement and maintenance of the <br /> Burns Ditch No. 2 for Rialm if implemented by the District. <br /> 15. C_t-mpen-sat is)ni. As some compensation for the Easements, the District shall pay <br /> Rialm an annual amount equal to fifty dollars times the final number of acre feet of active <br /> storage capacity in the Reservoir as finally constructed. Said payments shall be due on <br /> November I"of each year. Said payments shall be adjusted every two years after completion of <br /> the Reservoir by the cumulative percent change over the previous two years in the national <br /> consumer price index t"CPI") value based on all items for all urban consumers. L .S. city <br /> average. <br /> 16. Charitable Donadon. In part, Rialm is generously donating the: Easements to the: <br /> District Linder the terms and provisions of this Agreement. Except for compensation under <br /> Paragraph,, 9 and 15, there shall he no compensation due between the, parties Linder this <br /> Agreement. The grant of the Easements is a completed donation to the District as a public entity, <br /> and both parties acknowledge the receipt of a full. fair, and adequate consideration for this <br /> Agreement. The: District shall reasonably cooperate with Ri;alrn and its tax advisors sit that the <br /> donation of the: Fasernentb for the use by the District under this Agreement may be treated by <br /> Rialm as a deductible donation for tax purposes. No representation,,, warranties, or guarantees <br /> are made by the District as to whether favorable tar treatment will be able to be received by <br /> Rialm as a result of this transaction. Rialm shall be responsible to obtain any necessary appraisal <br /> and tax advice. <br /> 17. I' riient_ror Worb:. ,ill work by the District shall be paid for in a timely mariner, <br /> and the District shall not cause arty mechanic's or i-naterialmen's' liens to arise or remain can the: <br /> Sheep Mountain Property. the District shall be entitled to dispute payments due to third parties <br /> upon prot-iding bonding as provided by statute. <br /> 18. Security at Site. The District shall have the right to secure the; Reservoir, Pump <br /> Station, and water transmission pipeline structures. Such Se;CUrrt4' may consist of fencing and <br /> locked acres,, gates around the: Reservoir, Pump Station, and access to the, Reservoir and Pump <br /> Station from the County Road ':` o. 550. Rialm shall have access through any fences or locked <br /> access gates installed by the District fbr the recreation rights upon the Reservoir reserved by <br /> Rialm. Rialm shall have the right of reasonable review and approval of the appearance of any <br /> security fence upon the Reservoir Easement or Purnp Station, vv-hich approval shall not be <br /> unreasonably withheld or delayed. <br /> 19. Representations and Warranties of the District. As Part of the consideration for <br /> the: execution of this Agreement. the: District hereby represents and warrants: {a) it is authorized <br /> to enter into and pert-onn this Agreement, tb? there are no pending or threatened litigation <br /> pertaining to the District's ability to pertorrn under this Agreement; and (c)this Agreement dues <br /> not violate any covenant, agreement, or other obligation of the Agreement. <br /> K <br /> 109 <br />