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HASP <br />April 4, 2013 <br />Golden Cross Aggregates, Inc <br />2001 Platte Drive <br />Fairplay, CO 80440 <br />Subject: Water Sale Mining Operation <br />Headwater Authority of the South Platte <br />PO Box 1747 <br />Fairplay, CO 80440 -1747 <br />719 - 466 -3908 <br />HASP @HaspWater.com <br />This letter agreement is between Golden Cross Aggregates, Inc, Buyer, and the <br />Headwater Authority of the South Platte, Seller. Seller will cause to be released up <br />to six (6) acre -feet of water for which Seller has the right of first use until October 1, <br />2013. The six (6) acre -feet of water shall be delivered to the Middle Fork of the <br />South Platte River for Buyer s benefit for a cost of five hundred ($500) per acre - <br />foot. Buyer agrees to the following terms and conditions: <br />1. Buyer s mining operations will cause up to six (6) acre -feet of depletions to the <br />Middle Fork of the South Platte River, pursuant to the substitute water supply plan <br />( SWSP ) applied for by Buyer in November of 2012 and revised in February and <br />April of 2013. Upon approval of the SWSP by the State Engineer, Buyer shall <br />provide Seller with a copy of the approved SWSP, and Seller shall deliver up to six <br />(6) acre -feet of water to Buyer as specifically directed by Buyer in conjunction with <br />Garver Brown, the District No. 23 Water Commissioner. Seller s primary source of <br />augmentation water is from Spinney Mountain Reservoir, but Seller may substitute <br />any source of water it has available with the approval of the Division Engineer. <br />Buver is aware that Seller may not be able to deliver water to or exchange water to <br />Buyer s point of depletion on the Middle Fork of the South Platte River from <br />Spinney Mountain Reservoir because of the stream flow conditions. Seller s <br />inability to deliver water to or exchange water to the point of depletion on any day <br />because of the stream flow conditions shall not constitute a breach of this lease by <br />Seller. In the event Seller is unable to deliver water to or exchange to the point of <br />depletion due to stream flow conditions, then Buyer agrees to cease causing out of <br />priority depletions and to not resume until such time as Seller can augment the <br />depletions by exchange. <br />Page 1 of 2 <br />20130404 Golden Cross Lease Clean REVISED FINAL.docx <br />