2008-04-08_HYDROLOGY - M1996060 - Laserfiche WebLink

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WATER LEASE AGREEMENT THIS AGREEMENT is made and entered into this 13~' day of February, 2008 by and between the Town of Milliken, hereinafter referred to as Lessor, and Hall Irwin Corporation, hereinafter referred to as Lessee. WITNESSETH: WHEREAS, Lessor is the owner of excess augmentation credits, specifically the credits generated from the Substitute Water Supply Plan (SWSP) filed with the State Engineer pursuant to 37-92-308 (4) C.R.S. and the Application in the Water Court, Case No. 02CW339; and WHEREAS, Lessor desires to lease to Lessee the credits and Lessee desires to lease the same, NOW THEREFORE, in consideration of the mutual covenants and promises of the parties hereto, it is agreed as follows: I. Lessor shall lease credits with the right to use the same to cover out-of- priority depletions from Lessee's aggregate mine at the Bernhazdt Pit. 2. The credits total 63.06 acre feet for January 1, 2008 through December 31, 2008 as shown in Table I. Lessor will make every attempt to provide to the Lessee the monthly volumes contained in Table 1. Lessor anticipates that excess credits from its 02CW339 SWSP will be sufficient to meet the monthly values in Table 1. However, credits aze leased on an as available basis. In the event of a shortfall in any month, either pazty may terminate this Lease without penalty, and Lessee will be refunded monies for credits. which are not delivered. Table 1 Bernhardt Pit 2008 Excess Credit Lease All values in acre feet 2008 Jan Feb Maz Apr May Jun Jul Aug Sep Oct Nov Dec Tota Lease to Bernhardt Pit 1.82 1.65 2.60 4.15 5.42 7.28 8.92 8.88 8.01 6.62 4.67 3.05 63.a 3. Lessee shall pay to Lessor the sum of $150.00 per consumptive use acre foot credit that the State Engineer approves for use in Lessee's SWSP or that are subleased for use in a SWSP or augmentation plan. Payment shall be due on or before Mazch 1, 2008. 4. The term of this lease shall be from the date of adoption until December 31, 2008. 5. Lessee may sublease the credits leased herein.