Contracts & Agreements_119-2023 - Laserfiche WebLink

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AGREEMENT TO EXCHANGE ENTITLEMENT WATER This water entitlement exchange agreement ("Agreement") is made and entered into this 16a' day of May, 2023 ("Effective Date"), by and between the City of Redlands, a municipal corporation ("City") and Shahzad Farukhi and Keisha L. Baldeosingh ("Owners"). City and Owners are sometimes individually referred to herein as a "Party" and, together, as the "Parties." RECITALS WHEREAS, the City and the Redlands Heights Water Company have entered into an agreement dated August 1, 1967, 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 Redlands Heights Water Company stock identified as No. 1241 (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 assignment of the Shares to the City; NOW, THEREFORE, in consideration of the mutual promises contained herein, the City of Redlands and Shahzad Farukhi and Keisha L. Baldeosingh agree as follows: AGREEMENT 1. Owner hereby assigns and shall cause all irrigation water entitlement derived from Owners' Shares to be delivered to a City water treatment facility. In exchange, Owners 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 Redlands Heights Water Company. 3. City agrees to furnish water under the conditions and in the amount indicated in compliance with City's agreement with Redlands Heights 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 Agreement 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.