HomeMy WebLinkAboutWater Right Lease/Tranfer Agreement with the City of Sierra MadreORI6INAl
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: � o..�
Title: Title: