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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 Bucklen a portion of its current balance m Fossil Creek <br />Reservoir, a quantity of approximately 5.4 ,.acrefeet in November 2011, 3 9 acre feet <br />in December 2011, 3 0 acre feet in January 2012, g.0 acre feet hi February 2012, and <br />:aCre feet in March 2012 for a total of la .9 acre feet of reusable water, to be <br />delivered from Fossil Creek 17eservoir. This release be tpgr4i440 by the <br />Poudre River Water Connnissioner with review and concurrence by North POUdre. <br />The Poudre River Water Comrnissioner w11 deteriMne the actual amount of water <br />presently held by Platte River m the Fossil Cr - 00§ervOir that is delivered to <br />13uelden and payment will be made on the actual amount delivered. <br />2. The water leased to Buclden is for the exclusive use by BuCklen and shall not be <br />leased or conveyed to others ex by written perniisSiOn.from Platte "River: <br />The cost of the lease water .shall be $300 (THREE HUNDRED DOLLARS) per acre- <br />foOt. Payment will be Made by BiiCklen thirty (30) days from the date of Wiling <br />This payment shall be nonrefundable and is not cOritingent upon Bucklen's actual <br />usage of the water. <br />4 The Delivery Point of the water leased to IlliCklen shallbethe outlet of Fossil Creek <br />Reservoir Biicklen ,shall bear any losses associated. With conveyance of the water <br />from the Delivery Pomt to any location where 134gicigil may use the Watet All <br />, <br />releases from Fossil cteek Reservoir are subject to weather conditions <br />5. Platte River males no warranties concerning the quality of the lea 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 reeognized. Any amendments or additions shall be in <br />writing <br />7. The 10±111§ aticl provisions of this lease are hind4ig upon the Patties, their <br />s u c cessors and aSsigns. <br />8 . The Water Lease shall be effective upon the date shown below. <br />- <br />DATED this 1 Iday of October, 2011. <br />, <br />PLA;0 AUTHORITY <br />General Manager <br />BUCKLEN EQUIPMENT COMPANY, INC. <br />