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RECEIVED <br /> JUN 2 9 2018 <br /> WATER VW 1E1SS <br /> LEASE AGREEMENT STATE EN01NEER <br /> L <br /> This AGREEMENT is made and entere <br /> d into effective as of the day o <br /> 14 (hereinafter called "'Effective Date"), by and between the Board of water orl s °of <br /> Pueblo, Colorado (hereinafter called `Pueblo water") and Martin Marietta Materials Inc., the <br /> sole member of Front Range Aggregates, LL {hereinafter called "Lessee" <br /> RECITALS <br /> ITALS <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 its 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,RE, 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 gears 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 terra of this Agreement, and in accordance <br /> with the terms hereof, Pueblo water will male 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 /> . Defivery 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 Crater delivered <br /> hereunder to make it suitable for Lessee's use is the responsibility of Lessee. <br /> . Delivery of Consumable water. Pueblo water agrees to deliver to Lessee <br /> transmount in 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 I of <br />