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

CM0000914
B. Structure.

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1. The precise structure of the Project Company or
other legal entity shall be the subject of..future
negotiations among the parties. If a ditch and
reservoir company is the chosen vehicle to,carry
out the objectives of this MOU, the articles of
incorporation and/or bylaws shall, at a minimum,
contain provisions which address amendment of the
articles, the sale of company assets,
establishment of the board of directors, the levy
of assessments, and the voting of shares in such a
manner as will ensure the equitable treatment of
minority shareholders and the continued delivery
of water to such shareholders in proportion to
their shares in the company.
2. Regardless of the legal entity chosen, the
formation agreement shall provide that no party
shall object in Water Court to another party's use
of water from the project by direct use,
augmentation, exchange, replacement or
substitution; provided, however, that this
provision shall not prevent a party hereto from
filing a statement of opposition in Water Court to
any other aspect of an application. Likewise,
this provision shall not limit any party in the
exercise of its governmental functions. Moreover,
there shall be no restriction on.the place of use
within Colorado.
VIII. WATER RIGHTS.
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A. No Opposition. Subject to the Replacement Water
Requirement defined in VIII.B below, the parties agree
to either withdraw their statements of opposition to or
not oppose the following water rights applications.

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1. Climax/Consortium application as amended in
Division No. 5 Case No. 92CW340 for the Eagle Park
Reservoir storage right and.East Fork Pump Back
Facility. 111111111111111111111111111111111111111111111111111 666203 08/17/1998 03g10P 23 Sara Fisher
35 of 112 R 561.00 0 0.00 N 0.00 Eagle CO
s:\1e9a1\mtp\water\aur-cs2.mou
14
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