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Aug.19. 201010:56AM No-2941 P. 2 <br />WATER LEABE AGREEMENT <br />(GRAHAM DITCH) <br />This Water Lease Agreement (Agreement' Is entered Into this day of <br />coS'r . 2010 by and between Star Ready Mix, Ina, a Um'ded Liability Company <br />organized under the taws of the Stele of Colorado, 'Lessee' and GRAHAM DRAINAGE DITCH <br />COMPANY ("Ditch Company'}, `Lessor. <br /> <br />A. The Ditch Company owns end operates, for the benefit of h shareholders. the Graham Seepage <br />and Drainage Canal and the water right decroad to that Stwture in case Ne W-7818 74, District Court; <br />Water DMslon No. i (`Graham Ditch The Graham Ditch is decreed as a developed water right for up to <br />2800 aqa feet per year. The Graham Ditch ortginatss in Section 27 of Township 7 North, Range 88 West <br />of the 8 P.M., Weld County, Colorado and is capable of delivering water to the Cache La poudre River at <br />two points in 8ectlon 36 of Township 8 North, lunge 60 West of the a P.M., Weld County, Colorado. <br />0. Lessee Intends to operate and administer a Substitute Water Supply Plan C8W6P7. Lessee <br />desires to lease water temporarily from Lessor until Re permanent sources of augmentation water are In <br />Place. <br />C. Lessor is willing tD Iona to Loses water delivered from the Graham Ditch to the Cache Le <br />Poudre River, and Lessee desires to tease such water, In accordance with the terms and conditions of <br />this agreemenL <br />At3REEMENT <br />Now, therefore, In conslderetlon of the faegdng reaibels, and mutual oovenahts and agreements herein, <br />and for other good and valuable consideration, the recelpt and sutfidency of which Is hereby <br />acknowledged, the parties agree as tbllows: <br />1. l.AV. Lessor hereby leases and Uress to provide to Lessee up to 83.9 acre feet of fatly <br />consumable water from the Graham DIM (ft 00raharrr Ditch Watee) sooording to the monthly schedule <br />below, subject to the limitations, temrs and conditions stated herein. <br />AN Yak= h2 &-* <br />2011 <br />Apr May Jun Jul A Se Oct <br />Total <br />72 10.8 14.3 16.1 153 11.5 8.0 $34- <br />2. f j2d Leases shall pay Lessor $50 for each acre tot of tinily consumable Graham Ditch Water <br />that is made available to Lessee In accordance with the measurement and delivery terms eat forth in <br />Paragraph 3 of this Agreement and approved by fro State Engineer for omsumptIve use In the 8W813. <br />Wilm me (5) dwya WoMM to and of each calendar month, Lessor Md provide Lessee with a written <br />atatemeht IndloatbhD tit W number of we bet d Graham Ditch Water made avatlsbte lo Lessee 1br <br />replacement and sugmenlation use during that mon h. Lessee's payment shalt be due no toter than <br />twenty (M days following submission of the bill. Lessee shall make all rental ants to the Lessor M <br />care of the oust Company, and tine Dfbh Con "W shall be responsible for t?tfng such payments <br />amongst ire sherehoiders socordno to Mair pro rata Ghana <br />g, . " The point of delNery br do Graham oft water leased pursuant b <br />thle agreement *hall be to Me Cache La PoWre Rhrsr at the point where the Eat Lateral of the Graham <br />Ditch Is capable of delverhp to the Cache Le Poudrs Rhrer In Section 80 of Tcw "hip 8 Nor01, Range 88 <br />West of 1110 06 P.M., Wed Courtly Coio aft Lessor ehall make dally metered mesew ments of <br />1 of 3