2009-06-02_PERMIT FILE - C1982057 (5)

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~ C 1.2 Except in times of emergency, the Corporation shall i give- at least 24 hours advance written notice to the District specifying the time and quantity of water requested to be released. The point of delivery shall be the discharge of the outlet works of the Stagecoach Reservoir. Responsibility for *_ransportation loss shall be borne by the Corporation. The District shall maintain permanent records of all releases of water from storage in StagecoacY: Reservoir, and shall maintain records of water levels in the reservoir measured not less frequently than once per month. The Corporation shall be entitled to inspect such records and copies shall be furnished to the Corporation upon written request. 1.3 In any calendar year when insufficient water is stored in Stagecoach Reservoir to supply the full allocations for municipal, agricultural and industrial users, as measured at time of peak annual storage, then the amount of water allocated to each of the users of water from Stagecoach Reservoir shall be abated proportionally: provided, however, that the District may, in its sole discretion, allocate the actual amount of stored water in such manner that the water delivery obligation to the Corporation hereunder and/or the other municipalities and industrial users is first satisfied. If any part of the water allocated to the Corporation by this Agreement is to be reduced by abatement as provided herein, the District shall notify the Corporation in writing of such fact, and of the amount of the reduction in such water, by August 1st of that year, and in the absence of such notice the full amount of water for the Corporation shall be deemed to have been in storage on or prior to July 15th of that year. 2. PURCHASE PRICE: 2.1 The purchase price for the Stagecoach Reservoir storage water allocated to the Corporation shall. be the sum of Thirty-Five and no/100 Dollars ($35.00) annually for each acre-foot of such water stored at the annual--peak storage occurring on or prior to July 15th of such year, without regard to subsequent releases or evaporation or reasonably ungreventable leakage of such water and without regard to whether or not all or any part of such water may have been carried over in storage from the prior year. 2.2 Annual payments of such purchase price shall be made by the Corporation to the District at Steamboat Springs, Colorado on or before. July 31st of each year during the term of this Agreement, commencing with the first calendar year in which, by July 15th of such year, water allocated hereby to the Corporation has been placed in storage in the Stagecoach P,eservoir. Any annual payment not made within 14 days after the due date shall bear interest at the rate of 127 per annum until paid. Payments due hereunder are based on storage water allocated to the Corporation and shall be made regardless of the amount of water delivered to the Corporation and there shall be no abatement or 2 16-1-40