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Water Lease Agreement <br />Page 3 <br />A. DROUGHT. If the City determines that it will not be able to deliver <br />water in any year because of drought, then the City shall provide the Lessee <br />with written notice at the address listed in paragraph 12 as soon as <br />practicable after making such determination. <br />B. EXTRAORDINARY CIRCUMSTANCES. For the purposes of paragraph 7, <br />the term "extraordinary circumstances" includes, but is not limited to, a <br />conflict or dispute by any entity, other than the Colorado Division of Water <br />Resources or the Mined Land Reclamation Board, that results in the City's <br />inability to release water for Lessee's use at the Mine. In such extraordinary <br />circumstances, neither Lessee nor the City shall be considered to have <br />breached this Agreement. <br />8. NO CARRYOVER. Any amount of water not called for release in any year <br />shall not carry over for the benefit of Lessee into the next year. <br />9. TERMINATION. This Agreement shall terminate automatically on December <br />31, 2014, unless specifically renewed in writing by both parties pursuant to the <br />terms and conditions contained in such renewal. <br />10. REMEDIES. Except as set forth in paragraph 7, in case of any default under <br />this Agreement, a non - defaulting party shall be entitled to terminate this Agreement <br />by giving written notice specifying such default. Upon the giving of such notice and <br />if such default is not cured within thirty (30) days, this Agreement shall terminate <br />and all right, title and interest of the defaulting party hereunder shall wholly cease <br />and expire in the same manner and with the same force and effect as if the date of <br />such notice was the expiration of the term herein originally granted. Termination of <br />this Agreement pursuant to this paragraph will not limit or impair any remedies that <br />the Parties may have at law or in equity with respect to any breach or default of any <br />of the provisions of this Agreement. Neither Party shall be liable to the other in any <br />case for any incidental, consequential, exemplary, special or punitive damages in <br />connection with any claim for breach of this Agreement. <br />11. REIMBURSEMENT OF EXPENSES. Within ten (10) days of the mutual <br />execution of this Agreement, Lessee shall reimburse the City for its reasonable, out - <br />of- pocket legal and engineering expenses in this matter, up to Four Thousand <br />Dollars ($4,000). The City shall provide a statement for the expenses to Lessee <br />prior to its execution of this Agreement. <br />12. NOTICES. Any notice required or permitted by this Agreement shall be in <br />writing and shall be deemed to have been sufficiently given for all purposes if hand <br />delivered or sent by overnight delivery service or certified or registered mail, postage <br />and fees prepaid, addressed to the party to whom such notice is intended to be <br />given at the addresses set forth below or hand delivered at such addresses, or at <br />such other address as has been previously furnished in writing to the other party or <br />