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C. The Board shall not be required to make any physical alteration of its outlet gates or its <br />outlet measuring devices or incur any additional cost for the purpose of making such low <br />rate deliveries. <br />7. Transportation and Evaporation Losses. In the event the Board releases water from storage <br />to fulfill its requirements under this Agreement, the water delivered hereunder shall be <br />measured at the outlet of the reservoir from which released. Lessee shall bear all <br />transportation and evaporation losses from the place of release to Lessee's place of use. <br />8. Reuse Rights. Once delivered to Lessee, all rights to fully consume the water subject to this <br />Agreement shall belong to Lessee and the Board shall have no reuse rights on the leased <br />water. <br />9. Quantity. The Board will deliver to Lessee 27 acre -feet of water each contract year during <br />the term of this Agreement with the first contract year commencing April 1, 2011. Twenty - <br />seven acre -feet shall be both the minimum and maximum quantity of water to be paid for and <br />delivered under this Agreement for each of the contract years. <br />10. Charge. In consideration of the water to be delivered under this Agreement, Lessee agrees to <br />pay the Board an annual fee at the rates then in effect for the amount of water delivered to <br />Lessee during the term of this Agreement. Lessee agrees to pay the Board a fee of $276.35 <br />per acre -foot of water so leased, plus any rate increase as more particularly set forth in <br />paragraph 12 below. The parties agree that the water leased hereunder is on a "take or pay" <br />basis. Accordingly, Lessee shall pay the annual charge for water, whether or not said <br />quantities of water are actually taken by Lessee or are required for use by Lessee. Likewise, <br />the Board agrees to make the water available for delivery each year throughout the term of <br />this Agreement. <br />Page 3 of 9 <br />