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RECEIVE[ <br />AUG I 0 2009 <br />EXTENSION TO LEASE AGREEMENT WATER RESOURCES <br />STATE ENGINEER <br />COLO <br />THIS EXTENSION TO LEASE AGREEMENT (hereinafter "Extension") is entered into <br />this= day of August, 2008, by and between the City and County of Broomfield, a Colorado <br />Municipal Corporation and County (hereinafter "Broomfield") and SW Chambers, LLC, a <br />Colorado linvted liability company (hereinafter "Lessee"). Broomfield and Lessee agree to extend <br />the July 1, 2007 Lease Agreement (the "Lease", copy attached hereto as Exhibit A) under the terns <br />and conditions described below: <br />1. Leased Water. Broomfield hereby agrees to lease to Lessee the water rights described <br />as follows: 36 acre-feet, plus 6.48 acre feet to cover transit losses, for a total of 42.48 acre-feet of <br />Broomfield's Windy Gap effluent (the "Leased Water") to be delivered and measured at Broomfield <br />of Broomfield Wastewater Reclamation Facility on Big Dry Creek, at or near a point described as <br />follows: commencing at the center of Section 32, Township I South, Range 68 West of the 6`I' <br />Principal Meridian, whence the East one-quarter section corner of said Section 32 bears South <br />89°46'32" East a distance of 2,646.68 feet; said line forming the basis of bearings for this <br />description, thence South 69°09'23" East, a distance of 1,006.42 feet to the Broomfield Discharge <br />Diversion Point, whence said East one-quarter corner bears North 78°28'47" East, a distance of <br />1,741.17 feet, in the City and County of Broomfield, Colorado. The GPS location has been <br />detennined by a GPS handheld device to be: Easting: 498202, Northing: 4418700, Lai: 39 deg 55 <br />min 13 sec, Long: 105 deg 01 min 16 sec. Lessee agrees that the Leased Water is suitable, both <br />legally and physically, for Lessee's intended use. Lessee shall bear any and all stream and/or <br />carriage losses incurred and/or assessed below the point of delivery described in this paragraph. <br />2. Term. This Extension shall be for a term of one (1) year commencing on September 1, <br />2009 (the "Tenn"). The Lease may be ftn-ther extended for up to 54.63 a.f of Leased Water per year <br />for fiurther successive one (1) year periods upon mutual written agreement of the Parties executed <br />at least 12 months prior to the last day of the Tenn. <br />3. Lease Price. Lessee shall pay to Broomfield $M per acre-foot for a total of <br />plus the percentage change between August 1, 2007 and July 1, 2009, in the Consumer <br />Price Index for Denver-Boulder-Greeley, Colorado - All Urban Consumers, on or before August 1, <br />2009 for the Leased Water delivered under this Extension. <br />4. Delivery Schedule. On or before July 1, 2009, Lessee shall provide to Broomfield an <br />estimated monthly schedule for delivery of the Leased Water during the Term. If Lessee wishes to <br />change the delivery schedule provided to Broomfield, Lessee shall notify Broomfield at least 30 <br />days prior to the requested delivery of water- pursuant to any revised delivery schedule. <br />5. Requests for additional water (_subject to availability). During the Term, Lessee may <br />request in writing from Broomfield additional Lease Water for operation of its batch plant in excess <br />of the 42.48 acre-feet in paragraph 1, above. Such written request shall be made in writing to <br />Broomfield at least 30 days before the first date for which said additional Lease Water is requested. <br />To the extent Broomfield, in its sole discretion, determines that Broomfield has water available for <br />which a request is made by Lessee, Broomfield agrees to deliver additional water to Lessee upon <br />payment to Broomfield of $300.00 per acre-foot, plus the percentage change between August 1,