HomeMy WebLinkAboutContracts & Agreements_236-2017 AGREEMENT TO EXCHANGE ENTITLEMENT WATER
This water entitlement exchange agreement ("Agreement") is made and entered into this
26`h day of January, 2017 ("Effective Date"), by and between the City of Redlands, a municipal
corporation ("City") and Equity Trust Company Custodian FBO Alan Herford ("Owner") City
and Owner are sometimes individually referred to herein as a "Party" and, together, as the
"Parties "
RECITALS
WHEREAS, the City and the Redlands Heights Water Company have entered into an
agreement dated August 1, 1967, to exchange irrigation water, a copy of which is attached hereto
as Exhibit"A," and
WHEREAS, Owner is a shareholder of record of six shares of Redlands Heights Water
Company stock identified as Nos 1222 (the "Shares"), and
WHEREAS, Owner wishes to take advantage of the opportunity to receive water from
the City's domestic water system in exchange for Owner's assignment of the Shares to the City,
NOW, THEREFORE, in consideration of the mutual promises contained herein, the City
of Redlands and Owner agree as follows
AGREEMENT
1 Owner hereby assigns and shall cause all irrigation water entitlement derived
from Owner's Shares to be delivered to a City water treatment facility In exchange, Owner will
receive an equal amount of potable water from City through City's domestic water system
2 Owner shall comply with the provisions of City's agreement with Redlands
Heights Water Company
3 City agrees to furnish water under the conditions and in the amount indicated in
compliance with City's agreement with Redlands Heights Water Company
4 This Agreement constitutes the entire agreement between the Parties regarding the
subject matter hereof Any prior written or verbal agreements or representations respecting the
subject matter of this Agreement not expressly set forth herein are null and void
5 In the event any action is commenced to enforce or interpret the terms or
conditions of this Agreement the prevailing Party shall, in addition to any costs and other relief,
be entitled to the recovery of its reasonable attorneys' fees, including fees for use of in-house
counsel by a Party
6 This Agreement may be amended only by written instrument, executed by the
Parties
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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date
CITY OF REDLANDS OWNER
BY �_c��tX \ _ BY
Mayor
ATTEST
B Y
C lerk
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