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Best COPYAvailab e <br />of the terms of this lease <br />2 Purpose The water delivered pursuant to this Lease may be used by Lessee only <br />to replace depletions pursuant to Lessee s Replacement Plan District will cooperate with Lessee <br />to identify the sources of the District s Consumable Water delivered pursuant to this Lease <br />Lessee shall be responsible for drafting any such plan obtaining necessary approvals for any <br />such plan administration and accounting for any such plan and for all costs associated with such <br />plan <br />3 Rental In consideration of the water to be delivered under this Lease Lessee <br />shall pay District the following <br />a a nonrefundable one time original application fee of due and <br />payable upon execution of this Lease <br />b the first annual lease payment of per acre foot as a per acre <br />foot water fee and per acre foot for annual storage maintenance and <br />administration fee for a total first annual lease payment of S which includes <br />the one time annlication fee of is due upon execution of this Lease <br />c payment for any additional water over and above the 5 a up to 5 additional <br />acre feet at a rate of per acre foot shall be paid at the end of lease year <br />d commencing March 1 2017 and on the 1 st day of March each year thereafter <br />for a period of 4 years Lessee shall pay annual lease payments for five 5 acre feet <br />under the terms of this lease at the rate of per annual acre foot being per <br />year as it may be adjusted from the date of this Lease as provided herein <br />4 Term This Lease shall be effective for 5 calendar years commencing on March <br />1 2017 The District shall not be responsible for delivering water to replace any depletions from <br />Lessee s Replacement Plan after the expiration of the Lease including any post plan depletions <br />after the term of this Lease <br />5 Escalation Beginning one year after the execution date of this lease and <br />continuing for each year throughout the remaining term of this Agreement the charge for water <br />and storage delivered by the District to Lessee shall be subject to an annual escalation of 3 5 <br />over the previous year s per acre foot rate <br />6 Water The water to be delivered pursuant to this Lease will be raw untreated <br />water from any one or a combination of sources of District Consumable Water available to the <br />District Once such water is delivered to Lessee pursuant to this Lease Lessee shall have the <br />Long term Lease 2 8 2017 <br />Page 2 of 5