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AGREEMENT TO CONVEY WATER RIGHTS <br />IN.EXCHANGE FOR LEASE OF AliGMENTATION WATER <br />arties to this agreement are Cooley Gravel <br />1 . Pa___ r ti_..s : The p <br />Company ( "Cooley "), a corporation organized and existing un er <br />the laws of the State of Indiana, and Centennial Water and <br />Sanitation District ("Centennial "), a Colorado quasi- municipal <br />corporation. <br />2. Recitals and Purpose: <br />A - Cooley owns i . 0546 shares of the Nevada Ditch Molding <br />Company, which shares are represented by <br />Stock <br />Certificate No. 3 ` 3 Said shares are sometimes <br />referred to in this agreement as the "subject shares ". <br />t and future gravel mining operations <br />B. Cooley has curren <br />pursuant to which <br />• 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, Centennial owns or has the right to use sources of water <br />that are legally adequate for augmentation purposes. <br />D. Cooley desires to convey it Nevada u to h ate s to <br />Centennial in exchange for a lea <br />per year of Centenni al s augmentation water . Centennial <br />acre-feet pyear <br />desires to lease up to Cooley in exchange the <br />augmentation water <br />conveyance of Cooley's Nevada Ditch shares. <br />3 , Terms In consideration of the mutual covenants <br />Centennial raises <br />contained in this agreement, Cooley and <br />. Cooley shall execute and deliver at closing: <br />(1) A good and sufficient special warrant c e , 1gin n the <br />attached hereto, its <br />form of Appendix A - g <br />Nevada Ditch shares to Centennial free and clear of <br />all liens and encumbrances; <br />(2) n, general stock assignment in the form of <br />Appendix 9 attached hereto; <br />(3) Nevada Ditch Holding•Company Stock Certificate No. <br />3�3 • <br />