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AMENDMENT TO WATER LEASE <br /> This Amendment to Water Lease("Amendment") is entered into and effective as of the <br /> day of ZS u n-e— , 2020, by the Board of Water Works of Pueblo, Colorado <br /> ("Pueblo Water")and Titan AU, Inc., a Colorado Corporation("Lessee")(collectively, "the <br /> Parties"). <br /> RECITALS <br /> WHEREAS,this Amendment concerns the Water Lease Agreement between Pueblo <br /> Water and Lessee effective April 22, 2019 ("Water Lease"); <br /> WHEREAS,the Lessee desires to increase the quantity of raw water leased to 33 acre- <br /> feet for the Contract Year of May 1,2020 through April 30,2021, and 22 acre-feet for the <br /> Contract Year of May 1, 2021 through April 30,2022; <br /> WHEREAS,Pueblo Water is willing to provide the additional water as provided by the <br /> terms of this Amendment. <br /> NOW, THEREFORE,for and in consideration of the mutual promises herein contained <br /> and the payments to be made hereunder, the parties agree as follows: <br /> AGREEMENT <br /> 1. Quantity Amendment. The Parties agree that Paragraph 2 of the Water Lease is <br /> amended to provide as follows: <br /> Quantity. In accordance with the terms hereof, Pueblo Water will make available <br /> for delivery to Lessee the quantity of water provided immediately below.- <br /> First Contract Year—10 acre-feet. <br /> Second Contract Year—33 acre-feet. <br /> Third Contract Year—22 acre-feet. <br /> The quantity of water for each Contract Year, as provided herein, is both the <br /> minimum and maximum quantity of water to be paid for and made available for <br /> delivery under this Agreement for each Contract Year. <br /> 2. Payment. Upon execution of this Amendment Lessee must pay to Pueblo Water <br /> $17,529.91 for the additional 23 acre-feet added to the quantity of water for the <br /> Second Contract Year(23 acre-feet multiplied by the rate of$762.17 per acre-foot). <br /> 3. Effect of Amendment. Except as expressly provided in this Amendment, all <br /> provisions of the Water Lease remain in effect. To the extent of any inconsistencies <br /> between the terms of the Water Lease and the terms of this Amendment, the terms <br /> of this Amendment will control. <br /> Page 1 of 2 <br />