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=' `~i 26-IAar-200r 11:36am from-HALL IAWIN CORP ~67D3626264 1-ti0 P DOI/004 F-024 WATER LEASE AGREEMENT THIS AGREEMENT made and entered into this _~ day of ero , 2007, by and between the Town of Milliken, hereinafter referred to as Lessor, and Hall-Irvin Corporation, hereinafter referred to as Lessee. W ITNESSETH: WHEREAS, Lessor is the owner of excess augmentation credits, hereinafter the credits generated from it's Substitute Water Supply Plan (SWSP) filed with the State Engineer pursuant to §37-92-308(4) C.R.S. and its Application in the Water Court, Case- No. 03CW339; and WHEREAS, Lessor desires to lease to Lessee the credits and Lessee desires to lease the same. NOW, THEREFORE, in consideration of the mutual covenants and promises of the parties hereto, it is agreed as follows: Lessor shall lease the credits with the right to use the same In the Nissen Gravel Pit 2007 SWSP, filed by Lessee. 2. The credits, as of September 30, 2006, tota120.95 acre feet in 2007 foreach month as follows. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0.19 0.33 0.86 1.48 2,01 2.69 3.17 3.09 2.59 2.09 1.54 0.90 3. Lessee shall pay to Lessor the sum of $135.00 per consumptive use acre foot credit that the State Engineer approves for use in Lessee's SWSP or that are subleased for use in a SWSP or augmentation plan. Payment shall be due on or before December 31, 2007. 4, The term of this lease shall be from the date hereof until December 31, 2007. 5. Lessee may sublease the credits leased herein. 6. This Agreement represents the complete agreement of the parties and no oral modification shall be recognized. Any amendments or additions to the Agreement shall be made in writing and shall be signed by the partles hereto. This Agreement is binding upon the partles, their, successors and assigns. F.ISNJW EDrENGINEERINC~W eur LeOaefl20W1h1A1Men Nium Pn 3CD1 ieaw v[ 00 00 o0..aac