Laserfiche WebLink
WATER LEASE <br />D <br />THIS LEASE is entered into this day of%}&,/,,200-9, between the City of <br />Westminster ("Westminster"), lessor, and Aggregate hidustries-WCR, Inc., a Colorado corporation <br />AP'), lessee. <br />WHEREAS, Westminster is the owner of 1.038 shares in the Brighton Ditch, (the "BDC <br />Shares"), identified as Stock Certificate Numbers 228 and 229: <br />WHEREAS, Westminster is a municipal corporation in the State of Colorado that provides <br />water and sewer services to individuals located within the Westminster Water Service Area; <br />WHEREAS, Pursuant to Section 14.3 of the Westminster City Charter, the City is further <br />authorized to lease water subject to subsections (a) and (b) of said Section 14.3. In the judgment of <br />the Westminster City Council, the terms of this Water Lease, and the payments generated thereby, <br />satisfy the requirements of Section 14.3 (a) and Section 14.3 (b) of the Westminster City Charter. <br />WHEREAS, AI is a corporation of the State of Colorado; <br />WHEREAS, AT desires to lease the water derived from the BDC Shares, and Westminster is <br />willing to lease to AT the water derived from the BDC Shares under the specific conditions <br />hereinafter set forth. <br />WHEREAS, Westminster and AI are parties to an Agreemgjg dated October 24, 2000, (the <br />Storage Agreement'), as amended on r G tv p , 209, whereby AI is mining gravel <br />deposits from certain lands located near WattenlVerg, Colorado and, upon completion of mining, is <br />constructing a water storage reservoir for Westminster on said lands. <br />NOW THEREFORE, in consideration of the foregoing recitals, the mutual covenants and <br />agreements hereinafter set forth, the mutual covenants and agreements set forth in the Agreement, <br />and other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, Westminster and AT agree as follows: <br />1. Westminster agrees to lease the water derived from the BDC Shares to AT subject to <br />the terms of this Lease. <br />2. AI agrees to put the water derived from the BDC Shares to "beneficial use" as that <br />term is defined under Colorado Water Law, and will take no action that would constitute an <br />abandonment of the BDC Shares or otherwise jeopardize the historical consumptive use associated <br />with the BDC Shares. AI agrees to continue to divert the water derived from the BDC Shares and <br />maintain the same level of consumptive use of the water that has occurred historically. <br />3. The parties expressly acknowledge and agree that Westminster has made no <br />representation or warranties regarding the quality of or fitness for any use of the water derived from <br />the BDC Shares and provided to AI pursuant to the terms of this lease. AT hereby waives any actual