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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 Bestway a portion of its current balance in Fossil Creek <br />Reservoir, a quantity of approximately 8.91 acre feet in January 2012, 8.56 acre feet <br />in February 2012, 9.36 acre feet in March 2012, 10.26 acre feet in April 2012, 8.62 <br />acre feet in September 2012, 23.67 acre feet in October 2012, 16.58 acre feet in <br />November 2012, and 11.24 acre feet in December 2012 for a total of 97.20 acre feet <br />of reusable water, to be delivered from Fossil Creek Reservoir. This release will be <br />coordinated by the Poudre River Water Commissioner with review and <br />concurrence by North Poudre. The Poudre River Water Commissioner will <br />determine the actual amount of water presently held by Platte River in the Fossil <br />Creek Reservoir that is delivered to Bestway and payment will be made on the <br />actual amount delivered. <br />2. The water leased to Bestway is for the exclusive use by Bestway and shall not be <br />leased or conveyed to others except by written permission from Platte River. <br />3. The cost of the lease water shall be $300 (THREE HUNDRED DOLLARS) per acre - <br />foot. Payment will be made by Bestway thirty (30) days from the date of billing. <br />This payment shall be nonrefundable and is not contingent upon Bestway's actual <br />usage of the water. <br />4. The Delivery Point of the water leased to Bestway shall be the outlet of Fossil Creek <br />Reservoir. Bestway shall bear any losses associated with conveyance of the water <br />from the Delivery Point to any location where Bestway may use the water. All <br />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 or 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 r id tc day of December, 2011. <br />PLA'1Th RIVER POWER AUTHORITY BESTWAY CONCRETE <br />By: B <br />General Manager Title: IZRCs IQG.a <br />