HomeMy WebLinkAboutContracts & Agreements_84-2024AGREEMENT TO EXCHANGE ENTITLEMENT WATER
This water entitlement exchange agreement ("Agreement") is made and entered into this
7th day of May, 2024 ("Effective Date"), by and between the City of Redlands, a municipal
corporation ("City") and Katherine Kaisershot ("Owner"). City and Owner are sometimes
individually referred to herein as a "Party" and, together, as the "Parties,"
RECITALS
WHEREAS, the City and the West Redlands Water Company have entered into an
agreement dated May 4, 2004 to exchange irrigation water, a copy of which is attached hereto as
Exhibit "A;" and
WHEREAS, Owner is a shareholder of record of five (5) shares of West Redlands Water
Company stock identified as Nos. 1129 (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 assigmnent of the Shares to the City;
NOW, THEREFORE, in consideration of the mutual promises contained herein, the City
of Redlands and Katherine Kaisershot 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 West Redlands
Water Company.
3. City agrees to furnish water under the conditions and in the amount indicated in
compliance with City's agreement with West Redlands 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 Asreement 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.
1:\caVljm\Form Agreements \Exchange Entitlement Water Leasodoo
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.
CITY OF REDLAND
BY:
ayor
OWNER
BY:
Katherine Kaisershot
I:Iealdjm\Form Agreements\Exchange Entitlement Water Lease.dnc
INCORPORATED APRIL 1, 16B7
AUTHORIZED CAPITAL STOCK $100,000.00
1000 SHARES, PAR VALUE $1 ❑❑.❑❑ PER SHARE
West Redlands Water Company
REDLANDS, CALIFORNIA
is the registered holder, entitled to represent, and (subject to conditions printed on reverse side hereof)
No One
{IF NO PLEDGE IS TO BE REGISTERED, WRITE "N❑ ONE" JN THIS SPACE)
is registered as pledgee of Seven
each' of the par value of One Hundred Dollars, of the Capital Stock of
West Redlands Water Company
a corporation organized under the laws of the State of California, for the purpose (in addition to any others)
of supplying water to its shareholders.
The shares evid_enced here are assessable and may be sold or forfeited for non-payment of an assessment.
Each assessment is a lien upon the shares assessed from the time of the adoption of the resolution levying the
assessment, until paid. Each charge or toll for water delivered or other service rendered by the corporation to or
for the registered holder of these shares by virtue of or in respect of ownership of said shares is a lien against said
shares from the time when furnished or rendered, until paid. No transfer of these shares can or will be made on
the books of the corporation while any such assessment, charge or toll thereagainst remains or is unpaid.
IN WITNESS WHEREOF, said corporation has caused this certificates to be signed by its duly
authorized officers, and its Corpor - to Seal affixed th ,day abo 4 written.
01998 0055 4358
NI Rights Reserved
}