Laserfiche WebLink
r 1U49 !MxY iitJty FF,UF;L~STEIN CLERK & RECORDER WELL` °^ CO ~J"~ <br />Conservancy District shall be 4/9 of a share of the Last Chance Ditch, an <br />incorporated ditch. There are 20 shares of the Last Chance Ditch, <br />although the shares have been traded and sold in 1/9 share increments in <br />the past. The 4/9 share requirement was calculated by dividing the 160 <br />acre-foot requirement by the average yield Der share of the Last Chance <br />Ditch, 396.9 acre-feet of xater per year. The Nelsons have pledged all <br />of their stock in the Last Chance Ditch to the Federal Land Bank, <br />Wichita, Kansas. Nelsons agree to execute an assignment of their right <br />` in 4/9 of a share of the Last Chance Ditch to the Conservancy District <br />upon execution of this Agreement and to convey the stock to the Con- <br />servancy District upon release by the Federal Land Bank. <br />°' b, In order to implement the provisions of this Agreement, <br />the water rights described above shall be assigned to The St. Vrain b <br />Left Nand Water Conservancy District and the new stock certificate issued <br />shall recite the following notation: <br />"These water rights (shares) and the uses of water attributable <br />thereto are restricted by an Agreement dated December 17, 1986, <br />entered into between Harold E. Nelson and LaVerna J. Nelson <br />and the St. Yrain & Left Hand Water Conservancy District, and <br />are subject to the terms of that Agreement. Said Agreement is <br />recorded in the office of the Clerk and 'Recorder of Neld <br />County, Colorado, and affects part of the Northeast Quarter of <br />Section 31. Township 3 North, Range 67 Hest of the Sixth P.M „ <br />Weld County, Colorado. <br />Nelsons shall be entitled to use the water represented by the foregoing <br />water rights until evaporation of water from each pit occurs. At the <br />time, the .amount of evaparation from the pit shall be determined and the <br />Conservancy District shall have use of the equivalent amount of water. <br />c. With respect to the water rights transferred and/or <br />restricted pursuant to this Agreement, Nelsons shall pay all ditch <br />assessments until evaporation of water from each pit occurs. at which <br />time the Conservancy District shall pay all ditch assessments. <br />d. To reimburse the Conservancy District 5500.00 for its <br />legal 'and engineering expenses incurred'in reviewing the mining proposal <br />and preparing the Augmentation Agreement. <br />4. INDEMNIFICATION. Nelsons hereby agree to at all times indemnify and <br />keep indemnified The St. Vrain & left Hand Water Conservancy District, <br />and its respective officers and directors, and hold and save them <br />harmless from and against all liability for damages, loss, costs, charges <br />and expenses of whatever kind and nature, including attorneys' fees, <br />which they or any of them shall or may, at any time, sustain or incur by <br />reason or in consequence of Yarra's mining operations or reclamation of <br />the Property. <br />2 <br />