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and release" may include either: (a) a physical capture, storage and release I of water in Bison <br />reservoir or (b) an administrative transfer of water that may include the taking of water from <br />Reservoir #2. Regardless, at no time may the physical use of Bison for storage and release result <br />in the water level in Bison dropping below 50% of the reservoir's capacity. CC &V will develop <br />and deliver to the City annually a plan for Bison Reservoir usage, along with an estimate of <br />CC &V's expected needs (for storage and release) for that year. As part of any plan for Bison <br />Reservoir, CC &V will notify the City in advance of any planned storage or release, and shall <br />work with the City to ensure that CC &V usage does not unreasonably impede or impair use of <br />the reservoir by other City or private entities. <br />5. Governing Law. This Agreement shall be construed in accordance with the laws <br />of the State of Colorado. Any and all disputes concerning this matter shall be decided in any <br />court of competent jurisdiction for Teller County, Colorado. <br />6. Severability. Unenforceability of any provision contained in this Agreement shall <br />not effect or impair the validity of any other provision of this Agreement, so long as the primary <br />purpose(s) of this Agreement are effectuated by the remaining terms. <br />7. Counterparts. This Agreement may be signed in counterparts. <br />8. Binding Effect. This Agreement shall be binding upon the parties hereto and their <br />successors and assigns. <br />9. This Agreement amends the agreements between the City and CC &V recited above to <br />the extent stated herein. All other provisions of those agreements shall remain in effect as <br />written or specifically amended. <br />IN WITNESS WHEREOF, the authorized representatives of the City of Victor and <br />CC &V have executed this Agreement the day and year first set forth above. <br />ATTEST: <br />By: lGo /hi .d, .V <br />Title: r VP 1 G M <br />�a✓ . / !� , W/ 0 <br />3 <br />CRIPPLE CREEK & VICTOR GOLD <br />MINING COMPANY, a Joint Venture <br />Anglo Gold (Colorado) Corp. <br />Manager <br />