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<br /> Section 5. Agent <br /> Section 5.1 Agent <br /> The Agent shall be the San Antonio Water System ("SAWS"). <br /> Section 5.2 Powers and Duties of Agent <br /> The Agent shall: <br /> (a) negotiate acquisitions of Edwards Aquifer groundwater rights which fall <br /> within the parameters of type, price and amount established by the Management Council; <br /> (b) develop the water market within which Edwards Aquifer groundwater <br /> rights will be traded; <br /> (c) act as technical advisor to the Management Council regarding water <br /> acquisition strategies generally, and specifically, the operation of water markets, <br /> groundwater rights valuation, third party impacts of groundwater transfers, hydrogeology, <br /> state and federal law and regulation, water resource development, demand and <br /> conservation; <br /> (d) submit Edwards Aquifer groundwater right acquisition proposals which <br /> fall outside the pricing and/or parameters established by the Management Council to sajd <br /> Council for approval; <br /> (e) act as a fiduciary to the R WRDG participants and the Administrator; <br /> (f) utilize the RWRDG as its exclusive vehicle for the acquisition of Edwards <br /> Aquifer groundwater rights; <br /> (g) perfect any filings or recordation necessary to perfect or record such <br /> transfers, exclusive of filings with the Edwards Aquifer Authority; and <br /> (h) be an ex officio, nonvoting member of the Management Council, unless <br /> otherwise represented on the Management Council by virtue of election as a <br /> representative R WRDG participant. <br /> Section 6 Miscellaneous <br /> Section 6.1 Governing Law <br /> This Agreement shall be governed in all respects, including validity, interpretation and <br /> effect, by and shall be enforceable in accordance with the laws of the State of Texas. <br /> \\COSER VER\DA T A\LEGWP\PBB\ACQUISITlrwrdg.a 17.doc 7 <br />