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WATER LEASE AGREEMENT <br />This AGREEMENT is made and entered into effective as of the ��day of , <br />201 (hereinafter called "Effective Date"), by and between the Board of Water Works of <br />Pueblo, Colorado (hereinafter called "Pueblo Water") and Martin Marietta Materials Inc., the <br />sole member of Front Range Aggregates, LLC (hereinafter called "Lessee "); <br />RECITALS <br />WHEREAS, the water use that is the subject of the Agreement is of a type not normally <br />within any regular rate schedule fixed by Pueblo Water; and the parties mutually agree that the <br />terms for the lease of water for the purposes hereinafter set forth should be the subject of this <br />special Agreement; <br />WHEREAS, Lessee desires to procure raw water from the Board for replacement of <br />depletions resulting from its gravel mining operations in Fremont County, Colorado, <br />WHEREAS, Pueblo Water is willing to lease raw water to Lessee for its use for these <br />purposes subject to the terms of this Agreement. <br />NOW, THEREFORE, for and in consideration of the mutual promises herein contained <br />and the payments to be made hereunder, the parties hereto agree as follows: <br />AGREEMENT <br />1. Term of Agreement. Unless terminated early pursuant to paragraph 34 below, this <br />Agreement will be in force for a period of 5 years commencing April 1, 2016 and terminating <br />March 31, 2021. Each twelve month period, beginning with this commencement date, is a <br />Contract Year under the terms of this Agreement. <br />2. Quantity. Each Contract Year during the term of this Agreement, and in accordance <br />with the terms hereof, Pueblo Water will make available for delivery to Lessee 50 acre-feet of <br />water. Fifty acre-feet is the minimum quantity of water to be paid for and made available for <br />delivery under this Agreement for each Contract Year. <br />3. Delivery of Raw Water. The water to be delivered hereunder is raw water that has not <br />been treated to make it suitable for any particular use. Any treatment of the water delivered <br />hereunder to make it suitable for Lessee's use is the responsibility of Lessee. <br />4. Delivery of Consumable Water. Pueblo Water agrees to deliver to Lessee <br />transmountain water or other water totally consumable under Colorado law, including but not <br />limited to, reusable return flows from transmountain water or other fully consumable water. <br />Once delivered to Lessee, all water not fully consumed by Lessee's use remains the property of <br />Pueblo Water. <br />Page 1 of 7 <br />