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WATER LEASE AGREEMENT <br />THIS AGREEMENT is made and entered into as of this 25th day of September, 2012, by <br />and between the Board of Water Works of Pueblo, Colorado (hereinafter called 'Board ") and <br />Holcim (US) Inc. (hereinafter called "Lessee "); <br />RECITALS <br />WHEREAS, the water use that is the subject of the Agreement is of a type not normally <br />within any regular rate schedule fixed by the Board; and the parties mutually agree that the terms <br />of lease and delivery of water for the purposes hereinafter set forth should be the subject of this <br />special Agreement; <br />WHEREAS, Lessee desires to procure raw water from the Board for replacement of <br />depletions resulting from the manufacture of portland cement in Fremont County, Colorado. <br />WHEREAS, the Board desires to supply raw water to Lessee for its use for these <br />purposes. <br />NOW, THEREFORE, for and in consideration of the mutual promises herein contained <br />and the payments to be made hereunder, the parties hereto agree as follows: <br />AGREEMENT <br />1. Quantity. Commencing upon execution of this Agreement by both parties and ending <br />December 31, 2012, the Board will deliver to Lessee 17 acre -feet of water. The Lessee has the <br />option to lease up to an additional 64 acre -feet of water for the period of January 1, 2013 through <br />December 31, 2013 under the same terms and conditions listed below. Lessee must notify the <br />Board in writing no later than December 1, 2012 of the additional amount, if any, it wishes to <br />lease for the period of January 1, 2013 through December 31, 2013. <br />2. Term of Agreement. This Agreement shall terminate December 31, 2013. If Lessee does <br />not provide notice by December 1, 2012 that it intends to lease additional water from the Board <br />for the period of January 1, 2013 through December 31, 2013, then this Agreement shall <br />terminate on December 31, 2012. <br />3. Notice. The Board agrees to make available for delivery up to 17 acre -feet of water per <br />for the period of October 1, 2012 through December 31, 2012 and, if the Lessee exercises its <br />option to extend the lease, up to 64 acre -feet for the period of January 1, 2013 through December <br />31, 2013 at the request of Lessee. The Lessee shall notify the Board at least 24 hours in advance <br />of any requested release of water. <br />4. Delivery of Raw Water. The water to be delivered hereunder shall be raw, untreated <br />water. <br />Page 1 of 7 <br />