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- -- -- --. ~..., sae-a .o-e p.. <br />LEASE AGREEMENT <br />'I'11151.GA5LtA0RCL'hRL?vTiscntcredintothi.ao2~?. ~dnyof~,(`~.,,,~_,3t10abyand <br />betty-en Rick L. Hunt (hereinnftt:r "Legse~c'), and the '1.'nwn of 1=lizabcth, a C:oloredo Municipal <br />Carprrtati nn. <br />WHEREAS, t}1e'l'own of]:liZab~:th oper3tcs two waste w•at~-r trt'atmtr,tp]Afru in the County <br />of lrlbcrt, State of Golortsdo, which prucr::ti cfflurnt :ind dischargz wrrtcr as a product of such <br />treatment, one plant discharging to Running Creek and one plain ro t3old Creek, wlticb water tltc <br />Town ofLliaaheth t3eSfrt;c to tease to Lessee according to tJtc tams and conditions stinted herein, <br />and. <br />WH1Kh~.S,1-essec dosilt.~s to Ic~yc liom the Tuwn u('Eliraheth C<sr a rn~riod c-f erne (I) year, <br />with asutussl renewals ax provided blow, water di; charged from tbel;li,znbeth wn5re t~a•t~r ireatmt:,of <br />punt Iot:atcd nn ~~/Lq__ Creek, <br />NQVJ THFRF..FORF,., in consideration of the protn.ises and covenants contained herein, the <br />panics agree es follows: <br />1. ~1•hc Town o1~Elizabelh lctt;es to Les~eel00 acre-fee.R annually pf npntributOry CfflucM <br />attributable to the >>vnter right more particularly described ist "`Irxhibit A", attached hereto and <br />incorporated ity this reference, for a pt:riod of one (]) L~ilcndar ,year Slaving on the i<R day of <br />lmwtuy, 2004, ot-d tcrtninnting on the 37 st day ol'December, 2004, vuhjecx tq annual rtnewalc ~ <br />provided below. <br />2. The lt::tx price psyabl~ by Lessee to the Town of F.liznbetlt street he $124 for each <br />mettrrrd acre-font of water dischnrEed front the Town ofL•'llzabctli's waste v~atcr trcatm~'nt facility <br />far Lessee's tine under this (case agreement. '1'hc $125 price shall be adjuytod each J-anttnry 1" by <br />the Percentage change in the Cos>stuner Price lt~dex for the Boulder-benv~r hdarupolrtan Arca for <br />the preceding colander year. <br />3. Lessee shall 17c billed monthly for water delivered under this (ease stud payments s1taU Uc <br />made by Losses to the Town of F.li~betla within l5 days of the dntc of tech s>att;mcnt. Any <br />payment not made by the due date shall bear intrrest at the talc o£ 1.5~/, per month until pai~1 <br />4. Lessee shAq use dre venter dclivCrcd to Lessru under this 1gr4~-ment Car lswful Purycnrs <br />only undertttt: laws of the Seale oCColorndn, Thd uveti cxsmemplatcd by 1•.es.ee me fornv~mcntstion <br />ant! substitute supply, <br />5. Lessee shall obtain and any for any decree, or otdvrs of Court or permits or appro~•nls <br />squired fo[ Lesaec to apply tJtc water latsed bert;undcr to use under suty plan of subtn~nlx,htm ur <br />plan for substitute watcrsupply, l.essu: sha11 also Arty the Ctr.;t rtfPro~~idint~ any new mtterwhich <br />maybe required be placed to mcuure the Ic~~ex1 ~t:ttrr outflowing fi-pm the P•,lizaUeth w~,te umter <br />tt.alment plant. <br />Pagr 1 of <br />