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AGREEMENT
<br /> NOW THEREFORE in consideration of'-the mutual pr ses,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 /> L Fremont agrees to allow AGUA to use th,e Excess Credits from,the Plum Creek P,t*pei,,i*ne
<br /> Water Rights for AGUA's purposes 'in compiance wi"th the Decree, *in rer"arn ror the
<br /> consideration descr"bed in I paragraph 2,.
<br /> �2. AGUA shall credit Fremont for Excess Credits,that AGUA uses,to of fset AGUA
<br /> members' well depletions,on a one for one basis, not i,nc;I luding,any amounts of Excess Credits
<br /> lost to evaporation or transit. redit will be provided to Fremont by offsetting Fremont's
<br /> payments,to AGUA for replacement water pursuant to its membership 'in AGUAon a,one-for-
<br /> one basi f
<br /> 's ("Fremont's Offset"). For,example, "i AGUA i's able to,use 40 acre feet'of'Excess
<br /> Credits after evaporative and transit losses,for replacement of AGUA members' well depletions,
<br /> and AGUA provides to Fremont 60 acre feet,of replacement water for t,he Pueblo East Pit and the
<br /> North,River Pit,then applyffig Fremont"s Offset would result *in Fremont paying,AGUA for only
<br /> 20,acre feet of replacement water that year., Fremont's Offset Will be:calculated,annually for the
<br /> period from April I through March'31'and credited to F r
<br /> remont's account With AGUA afte the
<br /> perlod ends,Within,30 days (i.e. by Apfil 30).
<br /> 3. The Partiffies agree to annually meet,and plan for AGUA's use of the Excess Credits,as,
<br /> necessary and in good &I"'th. Fremont,shall,provildeAGUA with accounting and other
<br /> r%I A
<br /> information necessary ror A,GUA to m,ake use of the Excess Credits.
<br /> 4. Tlu's Agreement does not alter Fremont's AGU'A membership,and,without limitation,
<br /> 0
<br /> does not obligate or require AGUA to: (1),augment or replace any deplefions for the MacKenzie
<br /> Well; (2)augment or replace any depletlions for the Pueblo,East Pit an,d the North River it other,
<br /> than AGUA's obligations to Fremont as a,member of AGUA; (3)maintain a storage accountin
<br /> Pueblo Reservoir, or store or keep,in stora in AGUA's,storage account in,Pueblo,Reservomi,
<br /> ge
<br /> any Depletion Cred its or Excess,Credits (although AGUA may, at 'Its d iscretion, use, 'its storage
<br /> account to store Depletion,Credits,or Excess Credits), or(4) recharge in the Excelsi*or Ditch
<br /> ,system any Depletion Credits or�EXrcess Crediits. AGUA retains sole discretion as to operations
<br /> of AGUA's storage account and Excelsior Ditch recharge facilities., *including the recharge
<br /> ponds, and AIGUA'Six storage,management and use the Excess, Crcdits. Fremont shall remain
<br /> solely responsible for compli'ance, with'. and operations and accounting pursuant to,, the Decree
<br /> wit t limitation fOr the Plum Creek Pipeline and augmentation,stafion, the Plum Creek
<br /> Pipeline Water,Rights and historical relturn flows, and the plan,for augmentation for the
<br /> MacKenzI*e Well, and for compliance with, and operations and accounting pursuant to,
<br /> Fremont's replacement plans,for the Pueblo East Pit and North River Pit replacement,pilaw.
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<br /> 0.4 term, of this Ag'reement shall be perpetual, until terminated. Either party may
<br /> to mate is Agreement,�upon 60 days notice.
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