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HomeMy WebLinkAboutC-2024ORIGINAL �t.I. C/ WATER RIGHT LEASE/TRANSFER AGREEMENT Lease No.:SMDR- ARCD -03 -01 For a valuable consideration, the City of Arcadia (Licensor) hereby grants to the City of Sierra Madre (Licensee): A) A license to extract 350 Acre Feet of Licensor's "Decreed Right 1955" allocated to Licensor (or predecessors in interest) under and pursuant to the Judgment dated December 23, 1944, entered in Los Angeles Superior Court Case No. Pasadena C- 1323 entitled "City of Pasadena vs. City of Alhambra et al" during the period commencing July 1, 2002 and continuing to and including June 30, 2003; and, B) A transfer of 417.5 Acre Feet of Licensor's "Decreed Right 1955" allocated to Licensor (or predecessors in interest) under and pursuant to the Judgment dated December 23, 1944, entered in Los Angeles Superior Court Case No. Pasadena C- 1323 entitled "City of Pasadena vs. City of Alhambra et al" during the period commencing July 1, 2002 and continuing to and including June 30, 2003. Said license and transfer is granted, subject to the following conditions: (1) Licensee shall exercise said right and extract the same on behalf of Licensor during the period specified above and put the same to beneficial use, and Licensee shall not, by the exercise hereunder of said right, acquire any right to extract water independent of the rights of Licensor. (2) Licensee shall notify the Management Board that said pumping was done pursuant to this license and provide the Watermaster with a copy of this document within thirty (30) days thereof. (3) Licensee shall note, in any recording of water production for the period of agreement, that said pumping was done pursuant to this license. (4) Licensee's "Decreed Right 1955" shall not be increased by the amount hereby leased when computing carryover or allowable over extraction as provided by Paragraphs V and VI in said Judgment. (5) For paragraph A above, Licensee agrees to pay Licensor $59,500 within thirty (30) days after the date of this agreement. (6) Licensee agrees to hold 417.5 Acre Feet of Licensor's "Decreed Right of 1955" on account for future extraction and use by Licensor at no cost to the Licensor over and above Licensor's normal extraction costs. Licensee shall not, by the exercise hereunder of said right, acquire any right to extract water independent of the rights of Licensor. Licensor warrants that it has 767.5 Acre Feet of "Decreed Right 1955" and that is has not pumped and will not pump, permit, or license any other person to pump any part of said 767.5 Acre Feet during period of July 1, 2002 through June 30, 2003. LICENSOR: CITY OF ARCADIA Dated: P. Km LICENSEE: CITY OF SIERRA MADRE Dated: 10 of Title: Title: