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e <br />AGREEMENT TO CONVEY WATER RIGHTS <br />IN.EXCHANGE FOR LEASE OF AliGMENTATION WATER <br />1. Parties The <br />parties to this agreement are Cooley Gravel <br />pary ( "Cooley "), a corporation organized and existing under <br />Com <br />and Centennial water and <br />the laws of the State C ncennial a Colorado cuasi- municipal <br />Sanitation District <br />corporation. <br />2 • Recitals anti purtiose <br />A. Cooley owns 3..0546 shares of the Nevada Ditch Molding <br />Stock <br />Company, which shares are represented by <br />Certificate No. `3 ` 3 Said shares are sometimes <br />referred to in this agreement as the "subject shares ". <br />B. Coolev has current and future gravel miring operations <br />pursuant to which it has incurred and will incur <br />augmentation obligations to the South Platte River and <br />its tributaries, including Plum Creek above the Titan <br />Road gage where Centennial's Plum Creek rights are <br />measured. <br />C, thatet are legally Y or adeadequate efor sources of water <br />tha are <br />D. Cooley desires to convey its Nevada Ditch shares to <br />Centennial in exchange for a lease of up to 30 acre -feet <br />per 'year of Centennial s augmentation water ' ear of Centennial its <br />desires to lease up to 30 acre-feet per h nge for t <br />augmentation water to Cooley <br />conveyance of Cooley's Nevada Ditch shares. <br />3, Terms le : In consideration of the mutual and covenants <br />contained in this agreement, Y <br />A. Cooley shall execute and deliver at closing <br />(1) A good and suf f icient special warranty conveying e , in the <br />form of Appendix A attached hereto, <br />its <br />Nevada Ditch shares to Centennial free and clear of <br />all liens and encumbrances; <br />(2) A general stock assignment in the form of <br />Appendix B attached hereto; <br />Stock Certificate No. <br />(3) Nevada Ditch Holding•Company <br />