HomeMy WebLinkAboutContracts & Agreements_24-1997_CCv0001.pdf LUGONIA WATER COMPANY SHARES LEASE
This Shares Lease is entered into between the C '� �R��n� {" m� �� G�b
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an individual (_Lmssee . Lessor and Lessee agree amfaQ �: ` ---~~` '
and '
X Lessor ksthe owner ofshares ofthe Capital Stock ofLugoninVVabar�onopany ("�hmre�")�
B. Lessor desires to lease 25 of its Shares represented by stock certificates number 3751 (25
shares) hereinafter the("Leased Shares") to Lessee on the terms and conditions set forth hereinafter.
1� Lease.Lessor hereby agrees to lease the Leased Shares to Lessee and Lessee agrees to
lease same from Lessor for the purpose ofproviding irrigation water bnLessee. Lessee agrees that any water
entitlement obtained bvsaid stock shall not beused byLessee for h i
Lessee, to fDiur»an «onaumptonphorto�naa�m�n�by
. " . Office rnk|ngWater Standards.
2, Term.The hernofthis |eaeesha|| be80nonthebegin�nin'gon 'W'er�ch1S`
1BQ^7and ending
onthe last day ofFebruary, 2UO2. (`LeaaaTmnn^). Lease may beextended for additional five year periods
with the mutual consent of both parties' said consent by Lessor not to be unreasonably withheld.Nobwithstandingthefonagoing. Lessor and Lessee understand and agree -hat(e) i ' - ~^~~'^~ s Lease shall
terminate the Lessee shall be entitled to a pro rata refund of the Rent as defined herein below, and (b)except
as stated there is no implied intention that this Lease or any rights or nte'e-' hereunder will beextended
beyond the Lease Term.
3. Rent. Lessee hereby agrees to pay Lessor the sum of $1 per share per year, plus any
periodic naseoomnentsorother charges imposed bythe LugoninV�abar(�onnpany(,`Rent'`) upon execution
ofthe Lease for the Leased Shares asset forth herein.
4. . Lessee hereby agrees that it shall not have the right to assign, sublet or
othemviemtransfer orencumber the Leased Shares under this Lease.
5. Waive . Lessee hereby agrees hnhold Lessor harmless from any |ous cost, expense and
o|ainnserieingdinautyorindiraot|y (n) �onnanypereona| i/�uryorpropedydnnnageinc`~rnadby use ofsaid
Leased Shares, (b)from any environmental contamination of any water conveyed attendant to the Leased
Shares, from whatever cause. Lessor assumes no responsibility for the quality orpurity of any water
conveyed attendant tothe Leased Shares.
This Lease isexecuted mnthe2O±h dayof March , 19$7
"Lessor": "Lessee":
The City of Fledlands