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AGREEMENT FOR HI EURC,HASE AND LEASE OF <br />]WER RIGHTS <br />THIS AGREEMENT, Including the Exhibits attached hereto, ("Agreement") Is made and <br />entered Into this S! day of 2005 by and between AGGREGATE <br />INDUSTRIES "WEST CENTRAL REGIO , INC. ( "Sellers), whose address is attention.: <br />Michael Refer, Vice President of Administration, 1707 Cole Boulevard, Suite 100, Golden, <br />Colorado 80401, and THE CITY OF THORNTON ("Thomton "), whose address Is 9500 Civic <br />Center Drive, Thornton, Colorado 80229, acting by and through its City Council (Seller and <br />Thornton sometimes collectively referred to as the "Partles <br />W ITNESSETH: <br />'"'��REAS, Solior opresents that It'e affil�tQ, CpkAS Colorado; Inc.. is the owner of 3.0 <br />vv��� <br />shares (Certificate number 870) of the =capital stock of the Colorado Agricultural Ditch Company <br />(hereinafter referred to as the "Colorado Ag Shares "), being a mutual ditch company organized <br />and existing under the laws of Colorado ( "the Company"); and further represents that the Seller <br />Is In the process of obtalning approval from the Colorado Agricultural Ditch Company to change <br />the ownership to Aggregate Industries, and <br />WHEREAS,. Seller represents that it has knowledge of the historic use of the Colorado <br />Ag Shares for irrigation purposes both on -the lands (the "Lands ") and for uses as described In <br />the Statement of Historical Uses of Water Rights, Exhibit A, attached hereto and incorporated <br />herein; and <br />WHEREAS, Seller desires to sell to Thornton and Thornton desires to purchase from <br />Seller, the Colorado Ag Shares, and all the beneficial ownership rights associated therewith; <br />and <br />WHEREAS, Thornton owns fully consumable water in its municIpai water system, which <br />water may be delivered to the South Platte River; and <br />WHEREAS, Thornton desires to lease to Seller and Seller desires to lease from <br />Thornton a portion of Thomton's fully consumable water. <br />NOW, THEREFORE, in consideration of the foregoing recitals, the mutual covenants <br />and agreements herein contained, and other good and valuable consideration, the receipt and <br />sufficiency of which is hereby acknowledged, the Parties agree as follows: <br />1. Sale nd Purchase Seller agrees to sell to Thornton and Thornton agrees to <br />purchase from Seller, upon the terms and conditions hereinafter set forth: <br />a. Shares All of Seller's right, tide and Interest in the Colorado Ag Shaves, <br />Including Seller's right to request or receive water delivered under the <br />Colorado Ag Shares for any and all uses. <br />b. Beneficial Ownershlp AN of Seller's beneficial right, title and Interest in all <br />water, water rights, ditches, ditch rights, reservoirs, reservoir rights, canals, <br />canal rights, headgates and all other assets, rights, tide or Interests <br />represented by the Colorado Ag Shares, and, In addition, and in no way <br />Page 1 <br />