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Mar. if. 2511 8:38AM <br />NOW THEREFORE, in consideration of the mutual promises and covenants of the <br />Parties hereto, it is agreed as follows: <br />1. Platte River will lease to R.M. Hiner a portion of its current balance in Fossil Creek <br />Reservoir, a quantity of approximately 7.8 acre feet In November 2011, 5.2 acre feet <br />in December 2011, 3.4 acre feet in January 2012, 4.1 are feet in February 2012, 5.6 <br />acre feet in March 2012, 7.4 acre feet in November 2012, 4.6 acre feet in December <br />2012, 3.1 acre feet in January 2013, 4.0 acre feet in February 2013 and 5.5 acre feet in <br />March 2013 for a total of 50.7 acre feet of reusable water, to be delivered from Fossil <br />Creek Reservoir. This release will be coordinated by the Poudre River Water <br />Commissioner with review and concurrence by North Poudre. The Poudre River <br />Water Commissioner will determine the actual amount of water presently held by <br />Platte River in the Fossil Creek Reservoir that is delivered to R.M. Hiner and <br />payment will be made on the actual amount delivered. <br />2. The water leased to R M. Hiner is for the exclusive use by R.M Hiner and shall not <br />be leased or conveyed to others except by written permission from Platte River. <br />3 The cost of the lease water shall be $119 (ONE HUNDRED NINETEEN DOLLARS) <br />per acre -foot Payment will be made by R.M. Hiner thirty (30) days from the date <br />of billing. This payment shall be nonrefundable and is not contingent upon R.M. <br />Hinei's actual usage of the water. <br />4, The Delivery Point of the water leased to R.M. Hiner shall be the outlet of Fossil <br />Creek Reservoir, R.M. Hiner shall bear any losses associated with conveyance of <br />the water from the Delivery Point to any location where R.M. Hiner may use the <br />water. All releases from Fossil Creek Reservoir are subject to weather conditions. <br />5. Platte River makes no warranties concerning the quality of the leased water nor the <br />purposes for which the leased water is suitable. <br />6. This instrument represents the complete agreement of the Parties and no oral <br />modification shall be recognized, Any amendments or additions shall be in <br />writing. <br />7. The terms and provisions of this lease are binding upon the Parties, their <br />successors and assigns. <br />8. The Water Lease shall be effective upon the date shown below. <br />DATED this .1_7 day of March, 2011. <br />PLATTE RIVER POWER AUTHORITY R.M. HINER CONSTRUCTION CO., INC. <br />By <br />General Manager <br />No. 3605 P. 9 <br />