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11/10/2009 14 :29 9703520038 „ PAGE 03/04 <br />or, t required by Lessee, dally basis. Lessee step have the rlgfhk upon prior reasonable notice, to verily <br />the ACM98 y of the messuring devices utilized by Lessors. The fully colMMU to podlon of said <br />deilvertes shall be determined by mukiptytng the measured deliveries by 47.591, or by some other factor <br />as requm by the Stab Engineer. <br />4. ?AIM The term of this eg 4rd shall be from the date of execution of this Agreement until <br />October 31, 2010. Upon expintfon of this Agreement, Losses shall have the tigtd to negotiate terms for <br />extending the lease for another year. <br />& UM Lessee shell be entitled to use the Graham Ditch Water Leased <br />pursuan <br />�i all bensWel uses, Including, but not limited to, fwy oorwAne e to this agreement <br />augmerbtafion and <br />8• ARMaW Lessee shad have the right, at Its sole cost and expense, to seek and obtain Stele <br />Enohwer approval of a SWBP, ueino the Graham Ditch Water as a source of augmentation or <br />re laosment water, duft the term of this Agreement Lessor shall not oppose Lessees 8W8P end shall <br />fully cooperate with Losses In connection with the requs t(s) by providing such Information and <br />assistance as Is reasonable requested by Lessee, its water rights counsel, its engineering consuQants or <br />the OMSIon Engineer <br />7. <br />7.1 Indeoandent IMM@daflm and Review Leases acWVMsdges that it hem" <br />_ Investigated, obtai and reviewed to Its sadsfaction whatever k to melon or " <br />documents it deemed necessary which relate to or affect the yield and operation of <br />On Graham Ditch and its use of Graham Ditch Water. and R esters Btto this <br />Agreement based solely In reliance upon its own investigation me to the yield and <br />suitability of the Graham Ditch Wow for Its purposes. Lessor mmtasm no <br />representadons, warranties, agreements or promises with respect to the yield to <br />lessee or suitability of the Graham Ditch Water for Lessee's p zposes. <br />7.2 Ful The b d ine represoM that they have full authority to enter into <br />. r <br />80 0" required and soured fihe heossctive partlea. The parties have taken ell <br />w►Y apProvam to enter Into this Agreement. <br />& AftalmaQWtY. This Agreement shall be binding upon and Inure to the benefit of the and <br />Lessee and their respec tine successors and aSslgns. <br />a AU=ManL This Agroen>ant constitutes the enure agreement between the parties and <br />paMso NI other prior and I&IW 7ora epres nN rNs. a ons, Sind undetshrrNrps of fhs <br />I ce r e 0�d'n0 the �rbjsct rrhsttsr off thlm k moaiRwtion or arrtertdmsM or <br />We Agreement Shell be binding unless a 0c uisd In writ W the parties. No reprsaerMetlons or <br />warranties whatever are made by any party to this Agreement except am specAatty set forth In this <br />Agreement or in an hetru iNd delivered pursuant to this Agreerom <br />i Q IftA INDOMM A default shall be deemed b have occurred if either party brmaer *M Its <br />obiigaticrhs hereunder and hits to ours such broach within 30 days ofwrlt n notice *Mn the non. <br />br9QCl ft party gMCI lrrg She brssch. WaNw ar f wo io glw notice of s paN jw defartt or dWW is <br />Shag not be constnted Sus condoning at acquiescing to only ccrdk wing or subssrtbuwd doleulL In addition <br />to other fogal remedies wallable to ik indudiep specific Pstficn wnm end damages, to nory <br />parf<y ew?betl also have ttbe right eo catboat the AprearMnt for .. ft <br />A. <br />by writion notice of eranosNNlon; provided NW such ibse pre*u*O�hen the other <br />written notice of such end the other party ham not aped such nonoornpknoa <br />ii• fit. This Agresebsnt shall be construed and governed in accordance with the laws of <br />r . <br />2ofs <br />RecciveJ Time Noe. 10. 2009 2:31PM No. 2024 <br />