2011-03-14_REVISION - M1977493 ‎(67)‎

• Permit No: M1977493
• IBM Index Class Name: REVISION
• Doc Date: 3/14/2011
• Doc Name: Exhibit List, Exs. 10 & 11
• From: Climax
• To: MLRB
• Type & Sequence: AM6
• Media Type: D
• Archive: No

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easements (including without limitation, their necessity and
location) to arbitration as provided in Section 4.9.
Provided that weather conditions permit, within
30 days after the expiration of the EPR Conversion Options (as
defined herein), Climax shall, at its sole cost and expense,
41 perform a survey of the AW Delivery Facilities. Both parties
shall have 30 days after completion of the survey to review
and approve it. If any reasonable objection is made within
such 30-day period, the parties will direct the surveyor to
make the necessary adjustments to the survey. Within 10 days
after the parties have received the final survey, Climax shall
execute and deliver a correction deed to the title company
that has issued VA's title policy pursuant to the Commitment
(as defined herein), which correction deed shall be recorded
in each of Lake, Summit and Eagle Counties, and shall contain
the correct legal descriptions for the AW Delivery Facilities.
2.7 Delivery Charges. (a) On or before November 30 of
each year, VA shall pay Climax an annual delivery charge of
$40 per acre foot of the AW Priority Water requested by VA
during the preceding 12 months and delivered by Climax
pursuant to the terms of this Agreement. On such date, VA
shall also pay an annual charge per acre foot of the AW
Priority Water that is requested by VA and delivered from
Chalk Mountain Reservoir or Buffehr's Reservoir to the Eagle
River Delivery Point and in the case of the Ten Mile Exchange,
to Climax's domestic water treatment facility, equal to the
actual pumping costs associated with such delivery from Chalk
Mountain or Buffehr's Reservoir.
(b) The portion of the delivery charges billed at
$40 per acre foot delivered shall be adjusted annually based
i upon the Consumer Price Index, all items (1982 - 1984 = 100),
U.S. City Average as published by the U.S. Department of
Labor, Bureau of Labor Statistics ("CPI°). The annual
adjustment shall be equal to the increase or decrease in the
average CPI for the twelve-month period ending as of the date
one year prior to the date of calculation minus the average
CPI for the twelve-month period ending as of the date two
years prior to the date of calculation [i.e., Adjustment =
(Average CPI One year Ago) - (Average CPI Two Years. Ago)].
This CPI adjustment shall commence as of VA's initial request
for water delivery.
(c) The parties shall submit any disputes regarding
delivery charges to arbitration pursuant to Section 4.9.
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