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Item 10 Attachment # 2 Page 6 of 11 (b) The Trust Portion of the Permit shall remain in the Groundwater Trust during the term of this Contract as provided in Section 2.0. 5.0 Purpose of Transfer The purpose of the transfer made pursuant to this Contract is to implement the initial commitment to the Conservation Program as described in the Recitals above. 6.0 Consideration The consideration for the transfer of the Trust Portion of the Permit into the Groundwater Trust shall be the long term benefit to the Aquifer and Coma] Springs and San Marcos Springs achieved by the Conservation Program and Transferor's participation therein, which consideration is accepted as adequate by Transferor and the EAA. 7.0 Rights and Obligations of Transferor Upon transfer of the Trust Portion of the Permit into the Groundwater Trust, Transferor shall have the following rights, restrictions, duties, and obligations: (a) Transferor shall have no right to withdraw the Trust Portion of the Permit (b) Transferor shall remain responsible for taking all action, and paying all expenses, required to maintain, defend, preserve, and protect the Trust Portion of the Permit. (c) Transferor shall not undertake any action which could lead to the invalidation of the Trust Portion of the Permit and Transferor shall immediately notify the EAA if Transferor learns of any facts or circumstances suggesting that the Trust Portion of the Permit could be called into question. (d) Transferor may not, voluntarily or involuntarily, anticipate, sell, pledge, encumber, license, lease, transfer, assign, convey, give, devise, bequeath, or otherwise dispose of, either directly or indirectly, the Trust Portion of the Permit without the prior written approval of the Board. Further, the Trust Portion of the Permit shall not be subject to any debt contracted by Transferor, either prior to or after the transfer, or any judicial process for the satisfaction of any claim against Transferor. (e) Transferor shall not be assessed any aquifer management fees for the Trust Portion of the Permit while it remains in the Groundwater Trust. However, Transferor shall remain liable for any aquifer management fees already assessed against the Trust Portion of the Permit prior to the Effective Date of this Contract, as may be adjusted by any rebate program in effect on the Effective Date of this Contract. (f) The Trust Portion of the Permit identified in Paragraph 4.0(a), as adjusted pursuant to Paragraph 9.0, shall not be considered to be part of Transferor's authorized 6of11 11212.03001/ MHED/ MISC -2/ 1154963v. 9 Item 10