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NOW THEREFORE, in consideration of the mutual promises and covenants of the <br />Parties hereto, it is agreed as follows: <br />1. Platte River will lease to Loloff a portion of its current balance in Fossil Creek <br />Reservoir, a quantity of approximately 1.2 acre feet in January 2010, 1.1 acre feet in <br />February 2010,1.2 acre feet in March 2010,1.9 acre feet in November 2010, and 1.5 <br />acre feet in December 2010 for a total of 6.9 acre feet of reusable water, to be <br />delivered from Fossil Creek Reservoir. This release will be coordinated by the <br />Poudre River Water Commissioner with review and concurrence by North Poudre. <br />The Poudre River Water Commissioner will determine the actual amount of water <br />presently held by Platte River in the Fossil Creek Reservoir that is delivered to <br />Loloff and payment will be made on the actual amount delivered. <br />2. The water leased to Loloff is for the exclusive use by Loloff and shall not be leased <br />or conveyed to others except by written permission from Platte River. <br />3. The cost of the lease water shall be $119 (ONE HUNDRED NINETEEN DOLLARS) <br />per acre -foot. Payment will be made by Loloff thirty (30) days from the date of <br />billing. This payment shall be nonrefundable and is not contingent upon Loloff's <br />actual usage of the water. <br />4. The Delivery Point of the water leased to Loloff shall be the outlet of Fossil Creek <br />Reservoir. Loloff shall bear any losses associated with I conveyance of the water <br />from the Delivery Point to any location where Loloff may use the water. <br />5. Platte River makes no warranties concerning the quality of the leased water nor the <br />purposes for which the leased water is suitable. <br />6. This instrument represents the complete agreement of the Parties and no oral <br />modification shall be recognized. Any amendments or additions shall be in <br />writing. <br />7. The terms and provisions of this lease are binding upon the Parties, their <br />successors and assigns. <br />8. The Water Lease shall be effective upon the date shown below. <br />DATED this - of November, 2009. <br />PLATTE RIVER POWER AUTHORITY LOLOFF CO UCTION, INC. <br />By' BY <br />General Manager President <br />Vim - <br />�to� � <br />