Resolution 2024-20 - Laserfiche WebLink

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WATER LEASE AGREEMENT THIS WATER LEASE AGREEMENT ("Lease") is made and entered into this I S i day of , 2024 ("Effective Date") by and between the City of Louisville ("Lessor"), a Colorado municipal corporation, whose address is 749 Main Street, Louisville, Colorado 80027, and Three Leaf Farm, LLC ("Lessee"), whose address is 445 S. 1121h Street, Lafayette, Colorado 80026. Lessor and Lessee are sometimes referred to individually herein as a "Party" or collectively as the "Parties." RECITALS WHEREAS, Lessee owns land located as depicted on Exhibit A. attached hereto and incorporated herein by this reference; and WHEREAS, Lessee intends to use the Leased Water, as defined herein, for direct use or by replacing out -of -priority depletions on Coal Creek associated with irrigation of a small farm located at 445 S. 112t' Street, Lafayette, Colorado, in the amounts set forth in the Replacement Schedule, attached hereto as Exhibit B, and incorporated herein by this reference; and WHEREAS, Lessee has filed an application in Case No. 23CW3154, Water Division No. 1, dated November 29, 2023 ("Lessee's Application"), which includes a claim for approval of a plan for augmentation using Leased Water as a replacement source that Lessee anticipates will result in a final decree approving that claim; and WHEREAS, Lessor is willing to lease to Lessee water owned by the Lessor for the purposes described in Lessee's Application, and consistent with the terms and conditions described herein; and WHEREAS, pursuant to the terms and conditions of the decree entered in Case No. 92CW079, Application of the City of Louisville, Water Division No. 1 (the "Marshall Decree"), the Lessor can make additional and successive uses of its municipal return flow credits from the fully consumable portion of the Lessor's decreed water rights and "[a]ny future plan for such use, reuse, successive use, augmentation, replacement, substitution, exchange, replacement of return flows or otherwise shall be approved by the State Engineer's Office or Water Court prior to its implementation;" and WHEREAS, the water rights associated with Lessor's Farmers Reservoir and Irrigation Company, Marshall Division shares described in the Marshall Decree shall be defined herein as the "Lessor's Water Rights" or the "Leased Water"; and WHEREAS, the water use that is the subject of this Lease is within Lessor's regular rate schedule established by the Lessor for water leases. NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is hereby acknowledged, it is agreed between the Parties as follows: Page 1 of 8