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WATER LEASE AGREEMENT <br /> No.1959 <br /> (One year lease) <br /> THIS AGREEMENT is entered into this 1 st dayofNovember,2017 by and between SCOTT <br /> PELINO,dlb/a PELINO EXCAVATION,INC.(hereinafter referred to as"Lessee'),whose address <br /> is P.O. Box 5049, Buena Vista, Colorado, 81211, and the Upper Arkansas Water Conservancy <br /> District through its water activity enterprise,known as Upper Arkansas Water Activity Enterprise <br /> (hereinafter referred to as"District'),whose address is P.O. Box 1090,Salida,Colorado, 81201. <br /> RECITALS A. Lessee needs a temporary supply of replacement water to meet out-of-priority <br /> depletions. Lessee desires for this water to be made available in the Arkansas River basin from the <br /> District's water supplies in Twin Lakes Reservoir,Pueblo Reservoir or from other District owned or <br /> controlled sources in order to meet the requirements of a court or administratively approved <br /> substitute supply plan, replacement plan, or similar plan for the replacement of out-of-priority <br /> depletions("Lessee's Replacement Plan"). <br /> The location of the Lessee's operations is("Place of Need"): Jesse Lee Pit M-84-043,located in the <br /> SE-1/4 of Section 33,Township 14 South,Range 78 West,6`ti P.M.,2 miles south of Buena Vista, <br /> Colorado on the west bank of the Arkansas River. <br /> B. The District owns,leases,or controls fully consumable water supplies from various <br /> sources,including but not limited to water attributable to shares of stock in Twin Lakes Reservoir <br /> and Canal Company(collectively"District Consumable Water"). <br /> C. Lessee desires to lease a portion of such water from the District for use in Lessee's <br /> Replacement Plan; and the District is willing to lease such water to Lessee under the terms and <br /> conditions hereof. <br /> NOW,THEREFORE, in consideration of the mutual promises contained herein and other <br /> good and valuable consideration,the receipt and sufficiency of which is hereby acknowledged,the <br /> parties agree as follows: <br /> 1. Lease of Water. Lessee shall lease from District,and District shall lease to Lessee, <br /> 2.32 acre-feet of District Consumable Water. This amount shall be both the minimum and the <br /> maximum quantity of water to be paid for and delivered under this Lease. Lessee's failure to take <br /> delivery of its full leased amount of water shall not entitle Lessee to an extension of the terms of this <br /> lease. <br /> 2. Purpose. The water delivered pursuant to this Lease maybe used by Lessee only to <br /> Page 1 of 4 <br />