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RECEIVED <br /> MAR 2 3 ZO <br /> VMTER E <br /> � <br /> I CfiS <br /> A E M I T UIM ENGINEER <br /> COLD <br /> NOW THEREFORE#m consideration of the mutual promises contained herein and <br /> other good and valuable consideration,the receipt and sufficiency of which is hereby <br /> acknowledged,the Parties agree as follows: <br /> 1. Fremont agrees to allow AGUA to use the Excess Credits from the Plum Creek Pipeline <br /> Water Rights for AGUA's purposes m compliance with the Decree,in return for the <br /> consideration described in paragraph 2. <br /> . AGUA shall credit Fremont for Excess Credits that AQUA uses to offset AQUA <br /> members'well depletions on a one for one bad not including any amounts of Excess Credits <br /> lost to evaporation or transit. The chit will be provided to Fremont by offsetting Fremont' <br /> payments to AGUA for replacement water pursuant to its membership in AGUA on a one-for- <br /> on basis "Fremont's Dffse ' . For example,if AGUA is able to use 40 acre feet of Excess <br /> Credits after evaporative and transit losses for replacement of AGUA members'well depletions, <br /> and AQUA provides to Fremont 60 acre feet of replacement water for the Pueblo Fast Pit and the <br /> North River Pit,then applying Fremont's Offset would result in Fremont paying AGUA for only <br /> 0 acre feet of replacement water that year. Fre,mont's Offset will be calculated annually for the <br /> penod from April 1 through March 31,and credited to Fremont's account with AQUA after the <br /> period ends within o clays i.e. by April 3 o . <br /> 3. The Parties agree to annuay meet and plan for AG 's use of the Excess Credits a <br /> necessary and in good faith. Fremont shall provide AQUA,with accounting and other <br /> information necessary for AGUA to make use of the Excess Credits. <br /> 4. This Agmment does not alter Fremont's AQUA membership,and,without Umitation, <br /> does not obligate or require AQUA to: (1)augment or replace any depletions for the MacKenzie <br /> Well;(2)augment or replace any depletions for the Pueblo Fast Pit and the North River Pit other <br /> than AG UN s obligations to Fremont as a member of AGUA; 3 a storage account in <br /> Pueblo Reservoir,or store or keep in storage in GU 's storage account in Pueblo Remmoir <br /> any Depletion Credits or Excess Credits(although AGUA may,at its discretion,use its storage <br /> account to store Depletion Credits or Excess Credits),or 4 recharge in the Excelsior Ditch <br /> system any Depletion Credits or Excess Credits. AGUA retains sole discretion as to operations <br /> of AGUA's storage account Excelsior Ditch recharge facilities,including the recharge <br /> ponds,aid AGUA's storage, agemen" and use the Excess Credits. Fremont shall remain <br /> solely responsible for compliance with,and operations and accounting pursuant to,the Decree <br /> without limitation for the Plum Creek Pipeline and augmentation station,the Plum Creek <br /> Pipeline water Rights and historical return flows,and the plan for augmentation for the <br /> MacKenzie enzie Well,and for compliance with,and operations and accounting pursuant to, <br /> Fremont's replacement plazas for the Pueblo East Pit and North River Pit replacement plans. <br /> 5. The terra of this Agreement shall be perpetual until terminated. Either party may <br /> terninate this Agreement upon 60 days notice. <br /> Page 2 of <br />