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Lease of GIC Shares <br />This water lease is by and between Aggregate Industries-WCR, Inc. ("AV') and Pat Arnold <br />("SHAREHOLDER"), sometimes collectively referred to as "the Parties". <br />WHEREAS SHAREHOLDER owns 3 shares in the Greeley Irrigation Company (GIC;, as evidenced <br />by Certificate No. , and <br />WHEREAS SHAREHOLDER desires to rent out their GIC shares for the 2018 irrigation season; and <br />WHEREAS Al operates a combined substitute Supply plan (C0SSP) for its various gravet pits <br />approved by the Division of Water Resources in accordance with C.R.S. 937-90-137(11 !; and <br />WHEREAS Al desires to rent GIC shares for 2018 irrigation season to be used as a replacement <br />supply in their CoSSP; <br />Now THEREFORE. in consideration of the foregoing, it is agreed as follows: <br />1. SHAREHOLDER wilt lease to At their 3 GIC shares for the 2018 irrigation season. Before April 1. <br />2018. SHAREHOLDER will direct the GIC to deliver their shares to the 4th Street Augmentation <br />Station on the cutch to return the water associated with the shares to the river in order to <br />generate replacement credit on behalf of Al during the entire 2018 irrigation season. <br />2, The water leased to AI is for the exclusive use by At and shall not be teased or conveyed to <br />others except by written permission from SHAREHOLDER. <br />3. Al will pay the cost of the 2018 assessments on SHAREHOLDER's behalf for the 3 GIC shares, at <br />a rate of up to per share, which is up to or all <br />three shares. Aayment wi a ma a acct y to the GIC. AREHOLDER will be responsible for <br />payment of any assessments in excess of the maximum M per share paid by Al. Payment will <br />be made by AI within thirty days following the date that TW GIC determines the 2018 <br />assessment rate. This payment shall be nonrefundable and is not contingent upon AI's actual <br />usage of the water. <br />DATED this _12_ day of January. 2018. <br />Aggregate Industries-WCR, Inc. <br />Signature: <br />Date: <br />) �,kAV-v -44 a`f 5-:5 <br />Pat Arnold IPoA for Dorothy We Arnold) <br />Signature. <br />tate: aa <br />