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WATER SUPPLY AGREEMENT
<br /> This WATER SUPPLY AGREEMENT ("Agreement") is made and entered into this 13
<br /> day of /Ud�eber , 2023, by and between the City of Longmont, a municipal
<br /> corporation,organized under the laws of the State of Colorado and acting by and through its Water
<br /> Utility Enterprise ("Longmont"), whose address is 1100 South Sherman Street, Longmont,
<br /> Colorado 80501, and Asphalt Specialties Co., Inc., a Colorado corporation, whose mailing address
<br /> is 10100 Dallas Street, Henderson, Colorado 80640 ("Customer"). Longmont and Customer may
<br /> sometimes be referred to herein individually as a "Party"or collectively as "Parties."
<br /> RECITALS
<br /> A. Longmont, a home rule municipality in Boulder County, Colorado, duly organized
<br /> and existing under Article XX of the State Constitution, acting on behalf of its water utility
<br /> enterprise, is authorized,pursuant to sections 1.2, 1.3, and l 1.1 of Longrnont's Home Rule Charter
<br /> and section 31-15-101, et seq., C.R.S., as amended,to acquire, hold, lease, and dispose of real and
<br /> personal property, including water and water rights.
<br /> B. Longmont owns water, water rights, or water credits in the St. Vrain Creek basin
<br /> that are fully consumable.
<br /> C. Longmont and Customer desire to enter into this Agreement to provide water to be
<br /> supplied by Longmont to Customer.
<br /> D. Pursuant to section 14,09.030 of the Longmont Municipal Code, the City is
<br /> authorized to enter into and execute water rights leases or raw water supply agreements, at the
<br /> then current rental market rates for agricultural and other uses, or exchange agreements by which
<br /> Longmont obtains water of equal or greater value, of one (1) year or less.
<br /> AGREEMENT
<br /> Now, therefore, in consideration of the foregoing recitals, and mutual covenants and
<br /> agreements herein, and for other good and valuable consideration, the receipt and sufficiency of
<br /> which is hereby acknowledged, the Parties agree as follows:
<br /> 1. Supply. Longmont hereby agrees to provide to Customer 24.00 acre-feet of fully
<br /> consumable water (the "Subject Water'). The Subject Water may be selected and delivered by
<br /> Longmont, in its discretion, fi-om various sources including reusable effluent, water stored in
<br /> Union Reservoir, other fiilly consumable water controlled by Longmont, or water from any other
<br /> source, provided the Subject Water shall be usable by Customer for its stated purpose.
<br /> 2. Deliveries.
<br /> 2.1. Point of delivery. Longmont shall, at its sole discretion, deliver the Subject
<br /> Water at either (hereinafter the "Delivery Point"): (1) the outfall of Longmont's municipal
<br /> wastewater treatment plant, presently located in the SE% NW'/ of Section 11, T2N, R69W of the
<br /> Asphalt Specialties2023-2024 Water Stipp[),Agreement_FiNAL 10'3112023
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