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WATER LEASE AGREEMENT <br /> Inouye Gravel Mines <br /> THIS AGREEMENT made and entered into this 22nd day of March,2022,by and between the Groundwater Management <br /> Subdistrict(GMS)of the Central Colorado Water Conservancy District,hereinafter referred to as"Lessor",and BURNCO, <br /> hereinafter referred to as"Lessee" <br /> WITNESSETH: <br /> WHEREAS, Lessor has storage and direct flow water rights in the South Platte basin.Lessee has a Substitute Water Supply <br /> Plan(SWSP)filed with the State Engineer pursuant to 37-92-308(4)C.R.S. <br /> WHEREAS Lessor desires to lease to Lessee 97.75 acre feet and Lessee desires to lease the same. <br /> NOW,THEREFORE,in consideration of the mutual covenants and promises of the parties hereto,it is agreed as follows: <br /> 1.Lessor shall lease 97.75 acre feet to Lessee for use in Lessee's SWSP. <br /> 2.The parties agree that the volume of water to be leased under this agreement totals 97.75 acre-feet for delivery <br /> April 2022 through March 2023.Parties agree to the monthly delivery schedule as follows: <br /> Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Total <br /> 8.68 10.38 11.44 10.43 10.17 9.81 8.78 7.66 6.43 5.20 4.45 4.33 97.75 <br /> 3.Lessee shall pay lessor a total of$97,750($10001AF•97.75 AF)due upon signing. <br /> 4.Parties agree that this Agreement is for the water delivery of 97.75 acre feet from April 2022 through March 2023 <br /> and shall immediately terminate March 31,2023. <br /> 5.This Agreement represents the complete agreement of the parties and no oral modification shall be recognized.Any <br /> amendments or additions to the Agreement shall be made in writing and shall be signed by the parties hereto. <br /> 6.This agreement is binding upon the parties. <br /> 7. BURNCO may not assign or transfer this agreement to another party. <br /> WITNESS WHEREOF, Lessor and Lessee have caused this Water Lease Agreement to be executed. <br /> Dated the day and year first executed above. <br /> Randy VW ay, CWCD Executive Director BURNCO <br /> Robb vanderSchaaff <br /> Colorado General Manager-BURNCO CO,LLC. <br />