2017-06-20_HYDROLOGY - M2016080 - Laserfiche WebLink

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LOWER SACRAMENTO CREEK RESERVOIR COMPANY The Lower Sacramento Creek Reservoir Company, a Colorado corporation, owns and operates the Lower Sacramento Creek Reservoir No. 1. The Reservoir is located in the Northeast 1/4 Northwest 114, Section 32, and the Southeast 114 Southwest 114, Section 29, Township 9 South, Range 77 West, 6th P.M., Park County, Colorado. Seller/MMRC owns 772 shares of a total of 3,540 shares in the Company (a 21.8% interest). The Reservoir has been constructed and is entitled to store water under the following decree: Adjudication Date Appropriation Date Amount 1974; Case No. W-7741-74 July 25,1974 40 a.f. Case No. 84CW250 Use of Res. as Recharge Facility Case No. 85CW465 Use of Res. as Recharge Facility The water may be used for domestic, municipal, commercial, industrial, irrigation, fish and wildlife propagation, recreational and all other beneficial purposes, including exchange to compensate for depletions in the South Platte River and its tributaries. Other ownerships in the reservoir have transferred water rights to Lower Sacramento Creek Reservoir No. 1 in which Seller has no interest. Lessors are willing to Iease water to the Lessee on a temporary basis. It is understood that the replacement water will be delivered at the headgates of the above referenced ditches and the outlets of the above referenced reservoirs. 3. AGREEMENT FOR THE LEASE OF WATER: In consideration of the covenants and agreements of the Lessors and the payments to be made by the Lessee, Lessors agree to lease water to the Purchaser pursuant to the following terms and conditions: a. Quantity of Water: Pursuant to this Agreement, the Lessee shall be entitled to annually receive 28.0 acre-feet of water which Lessors presently own and control as set forth in Paragraph 2 above. Lessee has the option of leasing an additional 10.0 acre-feet pursuant to the terms below. b. Compensation to Lessors: As compensation for the lease of water as described herein, the Lessee agrees to pay to the order of North Fork Associates, $4,650.00 ($300.00 per acre foot per year) for 15.5 acre-feet of water delivered between the months of May and September, $7,500 ($600.00 POT acre foot per year) for 12.5 acre-feet of water delivered for the balance of the year, and $2,000 contract fee, upon both parties signing this agreement. For subsequent years the payment of $12,150.00 will be due on November 1 for water use from November 1 through October of the following year. C. Term of Water Lease: The effective period of the Agreement shall be the date of execution through October 31, 2017. Subject to NFA's termination rights set out in Paragraph No. 3(d), Lessee shall have the option of leasing replacement water for two additional one year periods. In order to exercise the option to extend the lease beyond the initial term, Lessee shall provide NFA with written notification of its intent to extend the term on or before the expiration date and the a payment in the amount of $300.00 per year for each 3