Laserfiche WebLink
3. Lessee shall pay to Lessors an annual rental for the water <br />leased under this agreement. The rental for calendar year 1989 shall be <br />85,500.00, paid by Lessee to Lessor upon execution of this agreement, the <br />receipt of which Lessors hereby acknowledge. The rental for calendar year <br />1990, and each year thereafter until termination of this agreement, shall <br />be due and payable on February 1 of each year, and shall be equal to the <br />rental for the previous year, plus 5516.00, but shall not exceed the <br />maximum of $22,000.00 for calendar year 2021. <br />4. Lessors agree diligently to maintain, repair and operate the <br />Reservoirs, at the Lessors' own expense, to store and release the leased <br />water to Temple Gulch, at the direction of the Division Engineer, Water <br />Division No. b, State of Colorado. <br />5. Lessee may enter onto the Reservoirs, and to construct thereon <br />any and all monitoring and measuring devices necessary to, and desirable <br />for, measuring the amount of water stored and released under this <br />agreement, and to service and maintain such devices. Lessee shall take <br />reasonable care in entering upon the Reservoirs not to damage any property <br />of Lessors, including growing crops, and agrees promptly to reimburse <br />Lessors for all damage caused by Lessee other than that occasioned by <br />reasonable exercise of the rights granted to Lessee by this paragraph. <br />6. Lessee may also, but shall not be required to, enter onto the <br />Reservoirs to perform maintenance, repair and operation of the reservoirs, <br />if Lessors have failed to do so after reasonable notice from Lessee, and <br />if necessary to enable Lessee to satisfy the terms and conditions of its <br />Plan for Augmentation. Lessee may deduct the expense of such maintenance, <br />repair and operation performed by Lessee from the following years' rental <br />payments. In the alternative, Lessee may, upon Lessors' failure <br />adequately to maintain, repair and operate the Reservoirs, maintain an <br />action for specific performance, or damages, or both.. <br />7. Lessors shall release 36.1 acre feet of the leased water at the <br />direction of Lessee or the Division Engineer, and shall release an~ <br />additional 18.3 acre feet of water per year at the direction of Lessee or <br />the Division Engineer in amounts not to exceed the following monthly <br />maximum amounts: <br />May 1.7 acre feet <br />June 4.0 acre feet <br />July 3.0 acre feet <br />August 3.1 acre feet <br />September 2.2 acre feet <br />October through April 4.3 acre feet <br />Any leased water which Lessee br the Division Engineer does not direct to <br />be released during a given year shall revert to Lessors. <br /> <br />-2- <br />16-1-36 <br />