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IRRIGATION WATER LEASE AGREEMENT <br />This irrigation Water Lease Agreement ( "Agreement") is entered into this _ 3�' day <br />of , 2013, by and between Arapahoe County Water & Wastewater <br />Authori (ACWWA), (`Lessor"), whose address is 13031 E. Caley Avenue, Centennial, CO, <br />80111, by and through its Agent, McFeeders Realty, Appraisal & Management, L.L.C. <br />( "Agent "), and Bestway Concrete & Aggregates ( "Lessee "), whose address is 301 Centennial <br />Drive, Milliken, CO, 80543. Lessor and Lessee may hereinafter be individually referred to as <br />"Party" and collectively as "Parties" <br />Recitals <br />A. Lessee is the owner or legal occupant of lands located in Weld County, Colorado <br />comprising approximately 115 acres, more particularly described on Exhibit A (the "Property"); <br />B. Lessor is the owner of those water rights represented by 7 shares (Certificate No. <br />411) in the Whitney Irrigation Ditch Company (the "Shares "), which can be used for irrigation of <br />the Property; and, <br />C. Lessee desires to lease from Lessor, and Lessor desires to lease to Lessee, the <br />Shares for the purpose of irrigation of the Property for the growing of agricultural crops, <br />pursuant to the terms and conditions set forth herein. <br />Agreement <br />For good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, the Parties agree as follows: <br />1. Lease. Subject to the terms and conditions set forth herein, Lessor hereby leases <br />to Lessee, and Lessee hereby leases from Lessor, the Shares for irrigation of the Property for the <br />growing of agricultural crops. This Agreement hereby revokes and supersedes any and all <br />existing Water Lease Agreements and/or Extensions related to the Shares. <br />2. . Term. This Agreement shall run from the date of execution through November <br />30, 2013. The period from the date of execution through November 30, 2013 shall be hereinafter <br />referred to as the Lease Year. This Agreement shall automatically terminate upon expiration of <br />the Lease Term. <br />3. Rental Rate. The rental rate for the Lease Year shall be $2,800.00, payable upon <br />execution of this Agreement to Lessor, through Lessor's Agent. In addition, Lessee shall be <br />responsible for any and all additional assessments over and above the annual rental rate that may <br />come due after the execution of this Agreement, and for any costs or fees associated with usage, <br />operation and maintenance of the Shares, and any and all associated strictures. Lessee shall be <br />billed for any such additional amount due at the time such amounts are billed to Lessor. Payment <br />