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09/14/2009 11:30 9703921999 STAR READY MIX PACE 03/04 degvsrles of the Graham Ditch Water and shall provide reports of such deliveries to Lessee on a weekly or. If required by Lessee, daily basis. Leased shall have the right, upon prior reasonable notice, to vedry the aoouraay of the measuring devices utilized by Lessors. The fully consumable portion of sold deliveries shell be determined by MUMPlying the measured deliveries by 47.5%, or by some other factor as required by the State Engineer. 4. Term. The term of this agreement shall be from the date of execution of this Agreement until October $1, 2010. Upon expiration of thls Agreement, Lessee shall have the right to negotiate terms for extending the lease for another year, 5. UP-9,,. Lessee shall be entitled to use the Graham Ditch Water Leased pursuant to this agreement for any and all beneftolal uses, Including, but not limited to, fully consumable augmentation and replacement 13. ea vai, Lessee shall have the right, at its solo cost and expense, to seek and obtain State Engineer approval of a 8WSP, using -the Graham Ditch Water as a sourdq of augmentation or replacement water, during the term of this Agreement. Lessor shall not oppose Lessee's SWSP and shall fully cooperate with Lessee In connection with the request(s) by providing such information and assistance as Is reasonable requested by Lessee, its water rights counsel, No engineering consultants or the Division Engineer. 7. ft andgg, and Renresentattons. 7.9 Independent v ado-ti s e w. Losses acknowledges that it has Investigated, obtained and reviewed to Its satisfaction whatever information or documents it doomed necessary which relate to or affect the yield and operation of the Graham Ditch and its use of Graham Ditch Water, and it enters Into this Agreement based solely in reliance upon Its own investigation as to the yield and suitability of the Graham Ditch Water for Its purposes. Lessor makes no representatione, warranties, agreements or promises with respect to the yield to lasses or suitability of the Graham Ditch Water for Lessee's purposes. 7.2 F_ r,ll uthorliv. The undersigned represent that they have full authority to enter Into this Agreement on behalf of the respective parties. The parties have taken all actions required and secured the necessary approvals to enivrInto this Agreement. 8. ADAWMI illy. This Agreement shall be binding upon and inure to the benefit of the Lessor and Leases and their respective successors and asglgns. 9. re grgemsnt, This Agreement constitutes the entire agreement between the parties and supersedes all other prior and contemporaneous agreements, representations, and understandings of the parties regarding the subject matter of this Agreement. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties. No representations or warranties whatever are made by any party to this Agreement except as specifically set forth In this Agreement or in an Instrument delivered pursuant to this Agreement '10. Default Be lea, A default shall be deemed to have occurred If either party breaches its obligations hereunder and fails to cure such breach within 30 days of written notice from the non- breaching party spedVng the breach. Waiver or failure to give notice of a particular default or defaults shall not be construed as condoning or acquiescing to any continuing or subsequent default in addition to other legal remedies available to It, Including specific performance and damages, the non-breaching party shall also have the tight to cancel the Agreement for noncompliance with any provision hereunder by giving written notice of cancellation; provided that such party has previously given the other party written notice of suoh noncompliance and the other party has not cured such noncompliancs. 2of3 Received Time Sep. 14. 2009 11:28AM No. 1818