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Contract No. 24-WC-40-996 <br /> 2. TERMINATION <br /> (a) Subject to article 2(b)below, the Contractor may terminate this Contract by sending <br /> written notice to the United States, at the address listed in Article 23 below, at least one <br /> (1)year in advance of the requested date of termination. <br /> (b) If the Contractor fails to perform its obligations under this Contract, the United States will <br /> notify the Contractor in writing of its intent to terminate this Contract. The notice of <br /> termination will specify each of the Contractor's failures, and will provide that the <br /> Contractor may, within ninety (90) days from the date of notice,present a detailed plan to <br /> correct the failures. The United States will reasonably accept the plan and waive the <br /> termination notice. <br /> 3. DELIVERY OF WATER <br /> (a) During the term of this Contract, the Contracting Officer will release water, not to exceed <br /> 49 acre-feet annually, measured at the outlet works of the Blue Mesa Dam. <br /> (b) The United States will release water from Blue Mesa Reservoir at the request of the Water <br /> Division 4 Engineer, Colorado Division of Water Resources. <br /> (c) The Contractor will have no holdover storage rights in Blue Mesa Reservoir from year to <br /> year. Any water paid for under this Contract but not called for by the end of each <br /> calendar year will be integrated with the water supply of the Blue Mesa Reservoir. <br /> 4. RATE AND METHOD OF PAYMENT <br /> (a) The Contractor agrees to make annual payments to the United States whether or not the <br /> contracted water is released from Blue Mesa Reservoir. The rate for M&I water will be <br /> reviewed and adjusted annually according to the debt servicing methodology used for the <br /> Colorado River Storage Project. An adjustable charge for operation and maintenance <br /> (O&M) expenses, currently at a rate of$2.00 per acre foot, will be added to the M&I rate. <br /> The 2024 Colorado River Storage Project (CRSP)M&I water rate is $104.78 per acre- <br /> foot. <br /> (b) The Contractor will make a one-time payment in the amount of$5,232.22 upon execution <br /> of the Contract. <br /> (c) For each subsequent annual payment, the United States will bill the Contractor and the <br /> Contractor agrees to pay for 49 acre-foot annually at the then-current year M&I rates. <br /> (d) Payments will be made annually by February 1. <br /> (e) The Contractor's payments made under this Contract will be credited to the Basin Fund, <br /> as required by Section 5 of the Colorado River Storage Project Act, 43 U.S.C. 620d. <br /> Page 2 <br />