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AGREEMENT TO EXCHANGE ENTITLEMENT WATER <br />This watei entitlement exchange agreement ("Ag <br />27("Agreement") is made and entered into this <br />th day of August, 2018 ("Effective Date"), by and between the City of Redlands, a municipal <br />corporation ("City") and Teresa Maria Buoye ("Owner") City and Ownei are sometimes <br />individually referred to herein as a "Party" and, together, as the "Parties " <br />RECITALS <br />WHEREAS, the City and the Redlands Water Company have entered into an agreement <br />dated August 6, 1996 to exchange Irrigation water, a copy of which is attached hereto as Exhibit <br />"A," and <br />WHEREAS, Owner is a shareholder of record of eighteen (18) shares of Redlands Water <br />Company stock Identified as Nos 1545 (the "Shares"), and <br />WHEREAS, Owner is a shareholder of record of an equivalent forty-three point six <br />(43 6) / thirty-six point eight (36 8) shares of Redlands Watei Company stock (as indicated on <br />page 2), and <br />WHEREAS, Ownei wishes to take advantage of the opportunity to receive water from. <br />the City's domestic watei system In exchange for Owner's assignment of the Shares to the City, <br />NOW, THEREFORE, in consideration of the mutual promises contained herein, the City <br />of Redlands and Teresa Maria Buoye agree as follows <br />AGREEMENT <br />1 Owner hereby assigns and shall cause all irrigation water entitlement derived <br />from Ownei's Shares to be delivered to a City water treatment facility In exchange, Ownei will <br />receive an equal amount of potable water from City through City's domestic water system <br />2 Owner shall comply with the provisions of City's agreement with Redlands Water <br />Company <br />3 City agrees to furnish water under the conditions and in the amount indicated In <br />compliance with City's agreement with Redlands Water Company <br />4 This Agreement constitutes the entire agreement between the Parties regarding the <br />subject matter hereof Any prior written of verbal agreements or representations respecting the <br />subject matter of this Agreement not expressly set forth herein are null and void <br />5 In the event any action is commenced to enforce or interpret the terms or <br />conditions of this Agreement the prevailing Party shall, in addition to any costs and other relief, <br />be entitled to the recovery of its reasonable attorneys' fees, including fees for use of in-house <br />counsel by a Party <br />11ca\dimTorm Agreetnents\Exchange Entitlement Water Lease.doe <br />