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WATER LEASE AGREEMENT <br />THIS WATER LEASE AGREEMENT ("Lease") is made and entered into this 57 day of <br />.MA U . 2010 between McCurter Land Company, LLC ("McCurter" or "Lessor") and Oldcastle <br />SW roup, Inc. d/b/a United Companies of Mesa County, a Colorado Corporation ("United" or <br />"Lessee'). Lessor and Lessee are sometimes referred to individually herein as a "Party" or <br />collectively as the "Parties." <br />WITNESSETH: <br />WHEREAS, McCurter is the owner of the Wadlow Pumping Plant decreed for 3.0 c.fs. for <br />irrigation and stockwatering in Civil Action 8303 on March 27, 1944 with an appropriation date of <br />January 1, 1940 ("Wadlow Pumping Planfl; <br />WHEREAS, McCurter desires to change the use of the Wadlow Pumping Plant to industrial <br />and augmentation uses; <br />WHEREAS, United is purchasing 182.572 acres identified by the Mesa County Assessor as <br />Tax Parcel No. 2965-283-00-034 in' anticipation of conducting a gravel extraction operation on this <br />property ("United's Property'); <br />WHEREAS, United desires to lease up to 21 acre feet of water annually for industrial purposes <br />associated with the gravel extraction operation; <br />WHEREAS, McCurter desires to lease to United consumptive use water associated with the <br />Wadlow Pumping Plant water right, as changed ("Wadlow CU'); and <br />WHEREAS, McCurter and United desire to enter into an agreement whereby United shall <br />lease up to 21 acre feet of Wadlow CU for use upon United's Property for industrial uses associated <br />with its gravel extraction operation. <br />NOW, THEREFOR for good and valuable consideration in hand paid by Lessee to Lessor, the <br />receipt and sufficiency of which is hereby acknowledged, it is agreed between the Parties as follows: <br />1. McCurter hereby grants to United the right to make beneficial use of 21 acre feet of <br />McCurter's Wadlow CU upon United Property for industrial uses associated with its gravel extraction <br />operation. <br />2. United's right to make such beneficial use, however, is predicated upon the following <br />conditions and agreements which United understands constitute additional consideration for <br />McCurter's decision to provide the temporary beneficial use of water under this Lease. <br />3. McCurter will immediately authorize its engineer(s) and attomey(s) to begin the <br />process of evaluating the historical use of the Wadlow Pumping Plant water right and within one year <br />of entering into this Agreement, McCurter will apply for Water Court approval to add augmentation <br />and industrial uses to the Wadlow Pumping Plant water right ("Change Case"). <br />Page 1 of 4 <br />Craig Ranch Pit, March 2011 G-4