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WATER LEASE AGREEMENT <br /> This Water Lease Agreement is made and entered into this day of <br /> 0Y4?(__U,_j 2020, by and between the Lessor Arkansas Groundwater User's Association, <br /> and/or assigns, P.O. Box 11446 Pueblo, CO 81001 (hereinafter "AGUA") and Lessee <br /> Martin Marietta Materials, 1627 Cole Blvd, Suite 200, Lakewood CO 80401 (hereinafter <br /> "MARTIN MARIETTA") <br /> WITNESSETH: <br /> WHEREAS, this Agreement pertains to a lease of 33 AF of fully consumable <br /> water delivered to the Arkansas River at a point in Section 34, T 20 S, R 63 W <br /> WHEREAS, MARTIN MARIETTA has a need to lease 33 AF of fully <br /> consumable water for the time period starting December 1, 2020 and ending March <br /> 31, 2021. <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: AGUA hereby leases 33 AF of fully consumable water delivered to the <br /> Arkansas River at a point in Section 34, T 20 S, R 63 Wand MARTIN MARIETTA <br /> hereby leases said water pursuant to the terms of this Agreement. <br /> 2. Term: The term of this lease between AGUA and MARTIN MARIETTA shall <br /> commence on December 1, 2020 and shall continue in full force and effect through <br /> March 31,2021. Any water not delivered by March 31, 2021 may revert back to AGUA. <br /> There shall be no automatic extensions of this lease or any right hereunder unless the <br /> parties enter into a written renewal or extension agreement. Water shall be delivered <br /> according to the schedule in Attachment A of this agreement. <br /> 3. Rentals: The rental payment obligation from MARTIN MARIETTA to AGUA shall <br /> consist of MARTIN MARIETTA paying to AGUA $365 per AF of fully consumable water <br /> purchased. Total payment shall be due no later than March 31, 2021. <br /> 4. Use of subject water rights: The water delivered to MARTIN MARIETTA may be <br /> used for Augmentation and all lawful purposes. <br /> 5. If MARTIN MARIETTA, its agents, or employees responsible for discharging the <br /> obligations under this lease have not properly satisfied such obligations, AGUA may <br /> declare an event of default and choose among the remedies set forth in Paragraph 5 <br /> below. <br /> 5. efault: In the event of a default hereunder by either party, the non-defaulting <br /> 1 <br />