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Best Copy Available <br />emergency situations may require the District to limit leases of or the use of water leased from <br />the District The parties agree that the necessity for such limitation is a fact to be determined by <br />the District in the exercise of its reasonable discretion from time to time as occasion may <br />require The parties agree that the District may adopt such reasonable restrictions on the use of <br />this leased water or priorities for curtailed use as may be necessary to adapt to such emergency <br />conditions including limitations on Lessee s supplies pursuant to this Lease The District shall <br />not be liable in tort or contract for imposing such reasonable restrictions In the event that the <br />District is unable to deliver the leased water as specified in this Lease including any interruption <br />or suspension of water deliveries under paragraphs 9 10 and 11 then the District shall provide <br />Lessee with reasonable advance notice of such interruption in deliveries and Lessee s payment <br />for water shall be reduced or refunded in proportion to the amount of any reduction of deliveries <br />by the District <br />12 Not a Permanent Supply The parties understand and agree that this Lease is not <br />to be interpreted as any commitment on the part of the District to famish water to Lessee on a <br />permanent basis but rather to assist Lessee in supplementing Lessee s own supplies by means of <br />the leased water from the District for the period of this Lease <br />13 Rieht to Obiect The parties understand and agree that the District specifically <br />reserves its right to object and may object to any Replacement Plan filed by Lessee to protect its <br />interests in the District Consumable Water and this Agreement and to ensure compliance with <br />applicable law including the prevention of injury to other vested or conditional water rights <br />regardless of how Lessee uses the water <br />14 Valco Lease The District currently has a lease in place with Valco Inc for the <br />lease of augmentation water to replace the depletions from the same two gravel pits located upon <br />the Place of Need Valco Lease Lessee is purchasing the gravel pit property from Valco <br />which is the Place of Need The execution of this lease replaces the Valco Lease and upon such <br />execution the Valco Lease shall be replaced and terminated in full and Valco shall have no <br />further responsibilities or obligations to the District under the Valco Lease Any annual rental <br />paid to the District under the Valco lease shall be prorated and applied to the first year of this <br />lease for the 7 to 12 acre feet of replacement water <br />15 Contingency Lessee intends in 2017 to file an application with the Water Court <br />for a plan for augmentation using the District Consumable Water in addition to other supplies <br />for the replacement of evaporative depletions from the two gravel pits that are located upon the <br />Place of Need This Lease is conditional upon the Lessee purchasing the Place of Need from <br />Valco Inc and also prosecuting and obtaining in its discretion the desired plan for <br />augmentation through the course of the Water Court proceedings that allows the continuance of <br />the gravel pits If the Lessee cannot or does not obtain a final decree for such plan for <br />augmentation then the Lessee shall have the option to terminate this Lease by providing the <br />District with 30 days advance notice <br />Long teen Lease 2 8 2017 <br />Page 4 of 5