Laserfiche WebLink
Agreement <br /> 1. Term of Agreement. This Agreement shall commence on the date it is signed by all the <br /> Parties ("Effective Date") and continue until December 31, 2023, automatically renewing for up <br /> to two(2)additional five (5) year periods("Term"), unless terminated by either Party pursuant to <br /> Paragraph 13,below. <br /> 2. Amount. Each calendar year of the Term,Aurora will deliver to Chris Tomky,the Meredith <br /> Reservoir Water for his full use and control, to be traded for Aurora's full use and control of the <br /> Twin Lakes Shares for the duration of the Term, subject to the terms of this Agreement. <br /> 3. Delivery Point and Transfer of Control. <br /> a. Meredith Reservoir Water. The Parties mutually agree that for each calendar year of the <br /> Term,Aurora will deliver the Meredith Reservoir Water to Chris Tomky for his full use <br /> and control at the Outlet of Meredith Reservoir("Delivery Point."). Times and amounts <br /> of deliveries will be as directed by Chris Tomky or his agent,limited by the terms of this <br /> Agreement and the normal operational constraints of the Colorado Canal System. <br /> Meredith Reservoir Water agreed to be delivered pursuant to Paragraph 2, above, shall <br /> not be carried over to the next calendar year. <br /> b,, Twin Lakes Shares. The Parties mutually agree that Chris Tomky will transfer full use <br /> and control of the Twin Lakes Shares to Aurora, for the duration of the Term, pursuant <br /> to paragraph 2, above,and execute any required documents effecting said transfer. Said <br /> fully-executed transfer shall be considered the time and place of delivery for the Twin <br /> Lakes Shares ("Delivery Point"). <br /> 4. Use of the Sublect Water. Each Party shall have the right to fully use the water that is the <br /> subject of this Agreement, provided such use is consistent with the terms of this Agreement and <br /> all applicable laws, rules and regulations. Chris Tomky shall have the right to use and reuse to <br /> extinction the Meredith Reservoir Water delivered under this Agreement, including without <br /> limitation, replacement and exchange purposes, in connection with any substitute water supply <br /> plan approved by the Colorado State Engineer's Office, augmentation and exchange purposes in <br /> accordance with any augmentation plan or appropriative right of exchange decreed by the <br /> Colorado Water Court,and any other lawful exchanges. Each Party shall be solely responsible for <br /> any administrative or judicial approvals necessary for use of the water that is the subject of this <br /> Agreement.. <br /> 5. Consideration. This Agreement is for a trade of use of water rights between the Parties that <br /> will provide a mutual and valuable benefit to each of the Parties. <br /> 6. No Transfer of Water Rights or Facilities. The Parties agree that no portion of this <br /> Agreement should be construed or interpreted as a transfer of title or a transfer of ownership of <br /> any water right or any facility for the supply, storage, treatment and distribution of water that is <br /> owned by either Party. <br /> 2 <br />