2011-03-30_REVISION - M1977493 ‎(13)‎

• Permit No: M1977493
• IBM Index Class Name: REVISION
• Doc Date: 3/30/2011
• Doc Name: Reservoir Purchase Agreement
• From: Clinton Ditch & Reservoir Company
• To: DRMS
• Type & Sequence: AM6
• Media Type: D
• Archive: No

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A1 977
vRESERVOIR PURCHASE AGREEMENT
RECEIVED
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This Agreement, dated as of this 21st day of July,
1992, is between the CLINTON DITCH & RESERVOIR COMPANY, a
Colorado nonprofit ditch and reservoir company (the "Company")
and CLIMAX MOLYBDENUM COMPANY, a Delaware corporation
("Climax").
h-
RECITALS
A. Climax is the owner of certain real property (the
"Land"), appurtenant access rights, decreed and appurtenant
water rights (the "Water Rights") and certain personal property
(the "Personalty") comprising, associated with and necessary to
the operation of the Clinton Gulch Reservoir (the "Reservoir").
The Land, Water Rights and Personalty are more particularly
described in the attached Exhibit A. That portion of the Land
comprising the Reservoir (the "Reservoir Land") is more
particularly described in the attached Exhibit B. The Land,
Water Rights, Personalty and Reservoir are hereinafter
collectively referred to herein as the "Property".
B. The Company desires to purchase from Climax, and
Climax desires to sell to the Company, the Property.
C. As a condition to the Company's acquisition of
the Property, the shareholders of the Company and the City and
County of Denver, acting by and through its Board of Water
commissioners ("Denver"), propose to enter into an agreement
(the "Denver Agreement") by which Denver agrees to operate and
subordinate certain water rights owned or acquired by Denver to
produce a firm annual yield for use by the Company shareholders
of 1, 2 00 acre feet ( "af") .
AGREEMENT
For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree
as follows:
1. Purchase and Sale. (a) Climax hereby agrees to
transfer, sell and convey to the Company, and the Company
hereby agrees to purchase the Property on the terms and
conditions set forth below.
(b) The Land and Water Rights shall be
transferred at the Closing therefor (the "Closing") by general
,y
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