Laserfiche WebLink
RECEIVED <br /> MAY 2 3 2Q19 <br /> 141AATE RWS,URC S <br /> COLD ER <br /> Shares, 1,541 Excelsior Shares, to AGUA for all lawful uses, including as <br /> replacement/augmentation water in AGUA's replacement plans and AGUA desires to <br /> enter into such a lease. <br /> NOW THEREFORE, in consideration of the mutual promises contained herein <br /> and other good and valuable consideration, the receipt and sufficiency of which is <br /> hereby acknowledged, the parties agree as follows: <br /> 1. Lease: Stonewall hereby leases up to the entirety of the Stonewall <br /> Shares, 1,541 Excelsior Shares, and AGUA hereby hires and leases said Stonewall <br /> Shares of stock all pursuant to the terms of this Agreement. <br /> 2. Term: The term of this lease between Stonewall and AGUA shall <br /> commence effective April 1, 2019 and shall continue in full force and effect for a one <br /> year term through March 31, 2020, the "2019-20 Water Year . There shall be no <br /> automatic extensions of this lease or any right hereunder unless the parties enter into a <br /> written renewal or extension agreement. or new lease. Any written renewal or <br /> extension of this Water Lease Agreement shall be entered into by January 15, 2020, <br /> unless otherwise agreed by the parties. <br /> 3. Rentals: The rental payment obligation from AGUA to Stonewall per acre <br /> foot of consumptive use water available under the Stonewall Shares for the April 1, <br /> 2017 through March 31, 2019 water years shall equal the amount AGUA will charge its <br /> members for each acre foot of consumptive use water during the same water year plus <br /> a premium of 10% ("Rental"), for each specific use made by such AGUA members. if <br /> AGUA increases the amount it charges its members for each acre foot of consumptive <br /> use water during the term of this Agreement, whether as a general charge increase, or <br /> for specific uses of water including but not limited to marijuana cultivation, the Rental <br /> shall be adjusted by the parties so that it is equal to the amount AGUA charges its <br /> members, plus the premium described herein. In lieu of full payment directly to <br /> Stonewall, AGUA shall first credit the Rental payment obligation against dues and water <br /> use fees related to Stonewall's membership in AGUA as follows: The Rental for the <br /> April 1, 2019 through March 31, 2020 water year shall be credited against Stonewall's <br /> AGUA membership dues for the 2019-20 Water Year. Any remaining balance shall be <br /> paid to Stonewall upon Stonewall's written request for payment. An accounting of the <br /> Rental due to Stonewall and the credits against Stonewall's AGUA membership dues <br /> and water use fees, shall be conducted in April of 2020 for the 2019-20 Water Year. <br /> Stonewall shall maintain all permits, licenses, consents, approvals and authorizations <br /> with regard to use of the leased water rights and pay all water assessments. <br /> 4. Use of subiect water rights: The water delivered to AGUA represented by <br /> the shares of stock of the Excelsior Ditch may be used for all lawful purposes, <br /> specifically including but not limited to augmentation of diversions for cultivation of <br /> marijuana/cannabis. AGUA shall use the Excelsior Ditch Water as intensively as is <br /> 2 <br />