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<br />WATER AGREEMENT <br />'THIS WATER AGREEMENT, dated this day of )I tti 20V, is <br />entered into by and between the City of Greeley, acting by and through and <br />Sewer Board ("City', and Lafarge West, Inc., a Delaware corporation ("Lafarge"). <br />RECITALS <br />A. Lafarge owns approximately 370 acres located in Sections 34 and; 35, <br />Township 6 North, Range 66 West of the 6th P.M., Weld County, Colorado, as more _ <br />specifically described in the attached Exhibit A (the "35" Avenue Pit Site"). <br />B. Lafarge conducts sand and gravel mining and related activities on the 350' <br />Avenue Pit Site and on other sites located in the South Platte River basin.' Lafarge <br />requires augmentation and replacement water to replace water depletions that occur to -the <br />South Platte River and its tributaries as a result of such activities. <br />C. Lafarge and the City are both shareholders in the Boyd Irrigation Company, a. <br />mutual ditch company that owns water rights decreed to divert water from the Cache .l i <br />Poudre River into the Boyd and Freeman Ditch, and both parties own land historically. <br />irrigated by such water rights. <br />D. Lafarge's mining operations have created, and may in the future create, <br />opportunities for lined gravel pit reservoirs that could be useful to the City. <br />E. Lafarge is willing to transfer its Boyd Irrigation Company shares to the City in <br />exchange for a permanent lease of augmentation and replacement water from the City, <br />and the City is amenable to such an arrangement, as more particularly described herein. <br />Both parties also wish to study and discuss opportunities for construction of lined gravel <br />pit reservoirs in the vicinity of the 350i Avenue Pit Site, as more particularly described <br />herein. <br />WHEREFORE, in consideration of the mutual promises contained herein, the City and <br />Lafarge hereby agree as follows: <br />1