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This Lease of Groundwater (tile "Lease") is entered into by and between City of San Marcos, a <br />Texas municipal corporation (the "Lessor") and Martin Marietta Materials Southwest, inc,, a <br />Texas corporation (tile "Lessee"). Lessor and Lessee are sometimes hereinafter referred to <br />singularly as a party and collectively as the parties. This Lease is executed as of the (fate of the <br />last signature by the parties (the "Effective Date"). Subject to the terms and conditions set out in <br />this Lease, Lessor hereby leases to Lessee and Lessee does hereby lease from Lessor the <br />following Edwards Aquifer Groundwater withdrawal rights: <br />1, Property: The Property consists of the right to withdraw and/or beneficially use 165.00 <br />acre feet per annum, of Edwards Aquifer groundwater derived from Edwards Aquifer <br />Authority ("EAA") Permit No. P100-828(HA00222) (the "Permit") during the term set <br />forth below (and not beyond such term), and all real and personal property rights, <br />appurtenances, permits, authorities, licenses, consents and contract, if any, pertaining to <br />all such property rights. <br />2. Term: The term of this Lease sliall commence on the Effective Date and continue <br />through December 31, 2015. <br />3. Approval by EAA/Lease Payment: Lessee agrees to pay Lessor the sum of $64,845.00 as <br />the Lease Payment. The Lease Payment will be due to Lessor by December 15, 2015. In <br />the event the EAA does not approve the transfer of the Property, the Lease will terminate <br />and be of no force and effect and Lessor shall refiwd to Lessee any portion of the Lease <br />Payment already paid to Lessee within ten (10) business days of Lessor's or Lessee's <br />notice of the EAA's disapproval of the transfer. <br />4. Other Payments: Lessee shall pay the expense associated with: (i) recording the <br />Application to Transfer -Lease with the FAA; and (ii) recording the Memorandum of <br />Lease of Edwards Aquifer Groundwater in file appropriate county; (iii) any associated <br />filing and recording fees. <br />5. Fees: Lessor will pay all currently assessed aquifer management fees ($84 per as ft.) <br />applicable to the Property for calendar year 2015. In the event the LAA assesses any <br />additional aquifer management fees to the Properly in excess of $84 per ac. ft. for <br />calendar year 2015, Lessee shall pay those aquifer management fees to the FAA directly, <br />6. Reporting Use: Lessee is aware that it is a requirement of the EAA that (i) the volume of <br />water pimped pursuant to the Permit must be metered by use of a certain type of <br />metering device and (ii) a report of the volume of water pumped filed with the EAA o» a <br />regular basis. Lessee further covenants and agrees that Lessee shall be solely responsible <br />for the installation and maintenance of EAA approved metering devices on the wells used <br />by Lessee to produce groundwater pursuant to the Permit int good continuous working <br />order to record and report to the EAA the volume of water pumped by Lessee pursuant to <br />the Permit, as indicated on the referenced metering devices, on forms acceptable to the <br />EAA. Lessee shall timely file all required reports with EAA. <br />7. Quiet Enjoyment: Lessor does hereby represent to Lessee that it has good title to the <br />Property and does hereby covenant to provide Lessee quiet enjoyment of the Property <br />