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COPY <br />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 R.M. Hiner a portion of its current balance in Fossil Creek <br />Reservoir, a quantity of approximately 3.5 acre feet in November 2010, 3.5 acre feet <br />in February 2011, and 4.5 acre feet in March 2011 for a total of 11.5 acre feet of <br />reusable water, to be delivered from Fossil Creek Reservoir. This release will be <br />coordinated by the Poudre River Water Commissioner with review and <br />concurrence by North Poudre. The Poudre River Water Commissioner will <br />determine the actual amount of water presently held by Platte River in the Fossil <br />Creek Reservoir that is delivered to R.M. Hiner and payment will be made on the <br />actual amount delivered. <br />2. The water leased to R.M. Hiner is for the exclusive use by R.M. Hiner and shall not <br />be leased 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 R.M. Hiner thirty (30) days from the date <br />of billing. This payment shall be nonrefundable and is not contingent upon R.M. <br />Hiner's actual usage of the water. <br />4. The Delivery Point of the water leased to R.M. Hiner shall be the outlet of Fossil <br />Creek Reservoir. R.M. Hiner shall bear any losses associated with conveyance of <br />the water from the Delivery Point to any location where R.M. Hiner may use the <br />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 ?,' 1 day of May, 2010. <br />PLATTE RIVER POWER AUTHORITY <br />By: <br />General Manager <br />R.M. HINER CONSTRUCTION CO., INC. <br />By: <br />President <br />CAI,