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materials are re-located, FCM is responsible for all costs associated with re-locating the <br />materials on the Cugnini Property. <br />Section $. WATER USE AND R!GliTS <br />8.01 Water Wells. To the extent permitted by law, Cugnini and CLACC shall <br />allow FCM to use water obtained from water wells {ocated on the Cugnini Property for <br />its operations without charge during the term of this Lease Agreement. Also, to the <br />extent permitted by law, CLACC shall allow FCM to use water obtained from one of the <br />existing water wells located on property situated west of the expansion area of the <br />Gravel Pit (See Exhibit C), on real property located in the South Half (S1/2) of the <br />Northwest Quarter (NW1/4) of Section Twenty-six (26), Township 34 North, Range 9 <br />West, N.M.P.M. for its operations without charge during the term of this Lease <br />Agreement. Further, Cugnini and CIACC steal! aNow and hereby authorize FCM to drill <br />a new water well(s) on the Cugnini Property, as permitted by the State of Colorado, for <br />use in its operations and without charge during the term of this Lease Agreement. FGM <br />shall be responsible for all costs associated with the drilling of any new water wells and <br />the use of water from any existing or new wells. Notwithstanding the right to use water <br />provided FCM herein, FCM acknowledges that it shall not be allowed to use water from <br />the following existing water wells: (a) the well know as the "Packing Plant Well" located <br />on property owned by CLACC in the Southwest Quarter (SW1i4) of the Northwest <br />Quarter (NW1/4) of Section Twenty-six (26), Township 34 North, Range 9 West, <br />N.M.P.M.; and, (b) the well known as the "Ranch House Well" located on property <br />owned by Cugnini in the East Half of the Southeast Quarter (E1/2SE1/4) of Section <br />Twenty-seven (27), Township 34 North, Range 9 West, N.M.P.M. <br />8.02 Other Water. To the extent permitted by law, but specifically excluding <br />project water, the 2 c.f.s, of water from the Florida River Canal Enlargement Company <br />and water from the Florida Co-op Ditch Company, utilized by Cugnini and CLACC for <br />irrigation purposes, Cugnini and CLACC shall allow FCM to use water obtained from all <br />other sources of water, including springs and irrigation waste water, on the Cugnini <br />Property for its operations without charge during the term of this Lease Agreement. <br />Further, Cugnini and CLACC shall allow and hereby authorizes FCM to obtain and <br />develop any new rights to and for the use of water from any source, including springs <br />and irrigation waste water, for use by FCM in its operations in the Gravel Pit area, and <br />any expansion area, as permitted by law and without charge during the term of this <br />Lease Agreement. <br />8.03 Retained Ownership. After termination of this Lease Agreement, Cugnini <br />or CLACC shall own and shall retain all rights to water developed jointly or by FCM on <br />or from the Cugnini Property. To the extent necessary, FCM agrees to assign any such <br />Cugnini Pit Lease <br />1029/02 <br />page 6 of I S <br />