2012-05-22_HYDROLOGY - M1983193 - Laserfiche WebLink

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H. Monks desires to lease Pioneer's Excess 12 AF, and Pioneer is willing to lease the same to Monks, on the terms an conditions set forth in this Water Lease Agreement; THEREFORE, in consideration of the foregoing, and the mutual agreements set forth below, the parties agree as follows: AGREEMENTS 1. Lease of Pioneer's Excess 12 AF. Pioneer hereby leases to Monks, during the term of this Agreement and for Lease Payment described below, up twelve acre feet annually of Pioneer's Excess 12 AF. 2. Lease Payments. Monks shall pay Pioneer the amount of Four Dollars ($4.00) for each 1,000 gallons of Pioneer's Excess 12 AF diverted from Monks' Arapahoe Well in any given month. The amount of Pioneer's Excess 12 AF diverted in any given month shall be calculated as follows: (a) the total amount pumped from the Monks' Arapahoe Well in a given month, less (b) the amount of Pioneer's 34.89 AF diverted from Monk's Arapahoe Well and delivered to Pioneer in that month, and (c) less a one time deduction for the first 9.45 acre feet diverted in any calendar year. Monks shall calculate such amounts each month, and send such calculation to Pioneer along with a check for the required lease payment no later than the 15 day of the following month. ' Monks may offset against any lease payments any amounts owed by Pioneer to Monks under the Well Sharing Agreement. 3. Term. This Water Lease Agreement shall have a term beginning on the date of execution and ending on March 31, 2015. 4. Future Adjustments. If in the future Pioneer determines that Pioneer's Excess 12 AF is in fact not in excess of the amounts needed by Pioneer in connection with Pioneer's SWSP or its operations, Pioneer may reduce the amount of water leased to Monks upon by three months written notice to Monks. If the remaining amount of water subject to this lease is not satisfactory to Monks, Monks may cancel this Water Lease Agreement upon thirty days written notice to Pioneer and payment of all outstanding amounts owed through the date of termination. 5 Replacement of Well Pumping. Monks acknowledges that Pioneer's decree in Case No. 02CW66 requires that four percent of the amounts diverted and used by Monks under this Water Lease Agreement cannot be consumptively used and must be left in Pond #1 to offset the effects of pumping Monks' Arapahoe Well during the pumping of such well. Accordingly, Monks can receive credit only for 96% of the amount of Pioneer's Excess 12 AF leased to Monks hereunder, but Lease Payments will be owed on the 100% of the water so pumped. Monks agrees to make such 4 percent replacement from the amount leased from Pioneer hereunder. Pioneer agrees to abide by 00022608 2