2007-01-25_REVISION - M1984043 - Laserfiche WebLink

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WATER LEASE AGREEMENT THIS AGREEMENT is emered into this 3 ~ day of 2006, by and between Scott Pelino, d/b/a Pelino Excavation, Inc. (hereinafter refeaed to as "Pelino"), whose address is 28221 County Road 319, P.O. Box 5049, Buena vista, Colorado, 81211, and the Upper Arkansas Water Conservancy District through its water activity enterprise, known as Upper Arkansas Water Activity Enterprise (hereinafter referred to as "District"), whose address is P.O. Box 1090, Salida, Colorado, 81201. RECITALS A. Pelino needs a temporary supply of replacement water to meet out-of-priority depletions for a substitute water supply plan for the Jesse Lee Pit, M-84-043. B. T'he District owns shares of stock in and stores the water derived therefrom in Twin Lakes Reservoir and Canal Compaq, and the District also owns other water storage and augmentation rights, including without limitation those decreed in Case No. 92CW84, Water Division 2, which may serve as replacement water under an exchange plan or temporary substitute water supply plan approved by the Division Engineer, Water Division 2. C. Pelino desires to lease a portion of such water from the District for the water year 2006-2007; and the District is willing to lease such water to Pelino under the teens and conditions hereof. • NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt-and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 1. .Lease of Water. Pelino hereby agrees to lease from District, and District agrees to tease to Pelino, 6.18 acre-feet of consumable water owned by or available to the District under (a) shares of Twin lakes Reservoir and Canal Company, or (b) storage and augmentation rights under Case No. 92CW84. This lease is for the purpose of being utilized in an exchange plan pursuant to §37-83-101, et seq., or a temporary substitute water supply plan pursuant to §37-80-120 to, be submitted to the Division Engineei, Water Division 2, for replacement ofout-of-priority depletions caused by Pelino during the year. 2. Rental. The lease price for the 6.18 acre-feet of water shall be (a) $100.00 original application fee, (b) $772.50 ($125.00 per acre foot) annual storage and maintenance fee, and (c) $679.80 ($110.00 per acre foot) annual water replacement fee, for a tots] of $1,552.30, which shall be paid by Pelino to the District upon the approval of the Division Engineer, Water Division 2, of an exchange plan or temporary substitute water supply plan. Said exchange plan or temporary substitute water supply plan shall be submitted to the Division Engineer within ten days of execution of this agreement and shall be diligently processed by Pelino. Pelino will notify and pay the District within 10 days of the approval of the replacement plan by the office of the State Engineer.