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is available in storage in Twin Lakes Reservoir or other District reservoirs pursuant to the <br />District's decrees, and such water is available for use by the Division Engineer, Water Division 2, <br />to replace a~+ out-of-priority depletions by Pelino to the Arkansas River which are to occur, for <br />which Pelino has an obligation for replacemem, during the term of this Lease. <br />9. Time of Essence/Kemedies. Time is of the essence, and if airy obligation created <br />hereunder is not performed by either party, then the nondefaulting party shall have all remedies <br />available to it in law and equity. <br />IN WITNESS Wf1ERREOF, the parties hereto have set their hands and seals on the day <br />and year first above written. <br />LESSEE: <br />SCOTT PELINO <br />dPo/a PELINO EXCAVATION, INC. <br />By <br />Title <br />LESSOR: <br />UPPER ARKANSAS WATER ACTIVITY <br />ENTERPRISE <br />Glenn Everett, Chauman <br />