2011-03-14_REVISION - M1977493 ‎(41)‎

• Permit No: M1977493
• IBM Index Class Name: REVISION
• Doc Date: 3/14/2011
• Doc Name: Exhibit List, Exs. 17 & 18
• From: Climax
• To: MLRB
• Type & Sequence: AM6
• Media Type: D
• Archive: No

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the maximum cities' yield as identified in
Paragraph IV.B.2. In making the calculation
of entitlement to.additional project yield
under this subparagraph, the yield realized
by the parties in Project Phases 1 and 2
shall be taken into account-in determining
the proportion of additional yield to which
each party is entitled.
b. Subject to the limits of section IV.B.1 and 2
above, any unexercised first refusal rights
shall be made available to the other project
participants. The foregoing rights of first
refusal shall only be applicable to the
initial subscription of an increment of
project yield as it becomes available.
thereafter, any parties' share of project
yield shall be freely assignable.
If Climax reclaims Robinson Reservoir and
such facility is a component of.the-joint use
project, Climax shall retain up to 3000 acre
feet of storage space in any enlargement of
Dam 4.
C. At the time of the completion of.construction
and the commencement of operation of the
subsequent phases, the Reservoir Company
shall also have the option to purchase from
the cities the cities' portion of yield from
Phase 2 of the project, assuming such has
been constructed, up to a maximum of 1000
acre feet at the price per acre foot.of yield
paid by the parties for such. phase. The
price shall be based upon the total planning,
engineering, permitting and construction
costs for Phase 2 of the project as adjusted
at the date of purchase for inflation based
on the ENR Index for water resource projects
or the most nearly identical index then
published.
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d. To the extent that the Reservoir Company
chooses not to exercise its option to acquire
water in an amount over and above. that
realized under Phases 1 and 2, the cities may
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