PERMFILE45859

• Permit No: M2005033
• IBM Index Class Name: Permit File
• Doc Date: 9/11/2006
• Doc Name: Response to Adequacy Review
• From: WSI
• To: DRMS
• Media Type: D
• Archive: No

RECEIVED
LEASE OF FULLY CONSUMABLE WATER SEF ~ 446
Division of ecl
Minim anon,
THIS LEASE is made and entered into this ~~~ day ,
1998, by and between the City of Loveland, Colorado, a C orado
home rule municipality ("City"), whose address is 500 East Third
Street, Loveland, Colorado 80537, and Coulson Excavating Company,
a Colorado corporation ("Lessee"), whose address is 3609 North
County Road 13, Loveland, Colorado 80538.
WHEREAS, the City awns certain
water laws of the state of Colorado,
successively used to extinction (the
and
WHEREAS, the Lessee wishes to 1~
to use a portion of the City's Fully
water which, pursuant to the
may be used, re-used and
"Fully Consumable Water");
ease from the City the right
Consumable Water; and
WHEREAS, the City is willing to lease to Lessee a portion of
its Fully Consumable Water pursuant to certain terms and
conditions as set forth in this Lease,
NOW, THEREFORE, in consideration of the mutual promises and'
covenants contained herein and other good and valuable
consideration, the receipt of which is hereby acknowledged, the
parties agree as follows:
1. The City hereby leases to the .Lessee the right to
receive one hundred acre feet of the City's Fully Consumable
Water, as defined in paragraph 4 of this Lease, on an annual
basis. This Lease shall be for a term of twenty-five (25) years,
ending on December 31, 2022. However, Lessee shall have the'
option to renew this Lease for successive terms of twenty-five
years, which option shall terminate only if Lessee is in default
of its payment obligations under paragraphs 6 or 7 of this Lease
or if Lessee elects not to exercise its option to renew by giving
notice to the City pursuant to paragraph 12 of this Lease not
later than three (3) months prior to the end of any twenty-five
(25) year term. In the event Lessee is not in default of its
payment obligations and elects to renew the Lease for any
successive twenty-five year period, Lessee shall not be required
to pay any additional amounts under this Lease for the right to
receive its allotted amount of the City's Fully Consumable Water
as set forth above.
2. The one hundred acre feet of Fully Consumable Water
which the Lessee shall be entitled to receive annually is
hereinafter referred to as the "Leased Water." The parties