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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 Aggregate a portion of its current balance in Fossil Creek <br />Reservoir, a quantity of approximately 33.0 acre feet in January 2011, 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 />Aggregate and payment will be made on the actual amount delivered. <br />2. The water leased to Aggregate is for the exclusive use by Aggregate 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 Aggregate thirty (30) days from the date of <br />billing. This payment shall be nonrefundable and is not contingent upon <br />Aggregate's actual usage of the water. <br />4. The Delivery Point of the water leased to Aggregate shall be the outlet of Fossil <br />Creek Reservoir. Aggregate shall bear any losses associated with conveyance of <br />the water from the Delivery Point to any location where Aggregate may use the <br />water. All releases from Fossil Creek Reservoir are subject to weather conditions. <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 ( day of November, 2010. <br />PLATTE RIVER POWER AUTHORITY AGGREGATE INDUSTRIES-WCR, INC. <br />BY B <br />General Manager. <br />?i' <br />'ie .