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U ? <br />Ruling of Referee and Decree <br />Case No. 08 CW 166, Div. 5 <br />Page 4 <br />Pursuant to the Lease, Applicant Grand Junction Pipe's interest in the water rights <br />described herein shall cease upon termination or expiration of the Lease. <br />12. Water is available for appropriation under this priority. Applicants have established that <br />water can and will be diverted and/or otherwise captured, possessed, and controlled and <br />will be applied to beneficial use within a reasonable period of time. <br />CONCLUSIONS OF LAW <br />13. The Application herein is one contemplated by law, and this Court has jurisdiction over <br />the subject matter of this proceeding. <br />14. Timely and adequate notice of the filing and of the contents of the Application was given <br />as required by law, and this Court has jurisdiction over all persons or entities affected <br />hereby, whether they have appeared or not. <br />15. The Applicants have initiated a valid appropriation of the underground water right for <br />which application has been made herein, as of the date claimed in the Application. Water <br />is available for appropriation under this priority. <br />16. Applicants have established that water can and will be diverted, and/or otherwise <br />captured, possessed, and controlled and will be beneficially used under such conditional <br />right with diligence and within a reasonable time. <br />RULING <br />17. The Findings of Fact and Conclusions of Law set forth above are hereby approved and <br />confirmed, and are incorporated into this Ruling of Referee by reference. <br />18. The application for a underground water right for the Soaring Eagle Gravel Pit as set <br />forth above is hereby approved A conditional water right in the amount of 319.98 acre <br />feet per year for the uses described in Paragraph 8, above is hereby awarded the Soaring <br />Eagle Gravel Pit. <br />19. Applicants shall file an application for an amended well permit for the Soaring Eagle Pit <br />with the State Engineer's Office, pursuant to Section 37-90-137(2), C.R.S., which <br />application shall be consistent with the terms of this Ruling of Referee and Decree. The <br />State Engineer is ordered to issue an amended well permit, pursuant to Section 37-90- <br />137(2), C.R.S., within sixty days after Applicants file the amended well permit <br />application with the State Engineer's Office. <br />20. The priority date awarded to the water right decreed herein as the Soaring Eagle Gravel <br />Pit is March 26, 1999. The Application was filed in 2008 and the water right awarded <br />herein to the Soaring Eagle Gravel Pit shall be administered as having been awarded on <br />an application filed in 2008.