Laserfiche WebLink
<br />WATER LEASE AGREEMENT <br />This agreement CAgreement'~, is entered into and effective as of January 1, 2008 ('Effective Datt~') by <br />and between Groensplro Metropolitan Districts No. 1, 2 and 3, all of which are Cobredo quasi-municipal <br />entities ('Le-ssor'~, and Hail Irwin Corporation, a Colorado corporation, 301 Centennial Drive, Milliken, <br />Cobrado 80543 ('Lessee"). The foregoing may hereinafter bs individually referred b as "party' and <br />cdlectively referred to as the "parties". <br />RECITALS <br />A. WHEREAS, Lessor desires to lease to Lessee 9.8 shares of Kerr Reservoir Company represenl,ed <br />by sham osrtificate number 30 (collecWely "Shams') on the terms and conditions set forth <br />hereinafter, and, <br />B. WHEREAS, Lessee desires to lease the Shares from Lessor on the terms and conditions set forth <br />hereinafter. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of the covenants and agreements contained herein and other good <br />and valuable consideration, the receipt and adequacy of which aro hereby acknowledged, the parties <br />hereto agree as follows: <br />1. Incorooratlon Of Recitals. All Recitals heroinabove are hereby incorporated herein by r+eferonae and <br />made s part of this Agreement. <br />2. Ter .The term of this lease shall commencx on the EffectNe Date and shall terminate on December <br />31, 2008, unless sooner terminated set forth herein or by law. <br />3. Lead. Lessor hereby leases to Lessee the Sharon during the term of this Agreement <br />4. $g~. Lessee hereby agrees b pay rent to Lessor at the rate of 6100 per acre-foot for the 1;11.80 <br />acre-feet of water expected to be delivered by the shares during the term of this Agreement Such <br />payment shah be made upon executbn of this Agreement by Lessee. <br />5. Comoliance with Rules and Reaulstions. Lessee hereby agrees to comply with all applicabb laws, <br />rules, regulations and other governmental terms and conditions with respell to the Shares. Lessee <br />shall also comply with aN app8cabie bylaws, articles of Incorporation, rules and regulatbrrs of <br />companies that issued the Shares. <br />8. Assignment Lessee shall not assign any of its rights hereunder without the prior written consent of <br />Lessor. <br />7. i emnity. Lessee shall indemni/y and hold harmless Lessor from and against aN bss, cost, and <br />expense, including, without limitation, rossonabk attorney fees related io this Agreement. <br />8. Consent. This Agreement is expressly contingent upon consent being obtained from companies that <br />issued the Shares. <br />9. D~Ifau . Should Lessee defauR under this Agreement and should any such default remain uncured <br />for ten cabndar days after being given notke to cum such defau8, then Lessor may terminate this <br />Agreement. . <br />10. Nom. Except ~ may be expressly authorized elsevvhero in this Agreement, any notice, demand, <br />request, or other instrument which may be or is required to be given under this Agreement ('Notice? :3haM <br />be in writing and, at the option of the sender, shall be (a) personally delivered to the party or parties to <br />