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AGREEMENT TO EXCHANGE ENTITLEMENT WATER <br />This water entitlement exchange agreement ("Agreement") is made and entered into this <br />7th day of May, 2024 ("Effective Date"), by and between the City of Redlands, a municipal <br />corporation ("City") and Katherine Kaisershot ("Owner"). City and Owner are sometimes <br />individually referred to herein as a "Party" and, together, as the "Parties," <br />RECITALS <br />WHEREAS, the City and the West Redlands Water Company have entered into an <br />agreement dated May 4, 2004 to exchange irrigation water, a copy of which is attached hereto as <br />Exhibit "A;" and <br />WHEREAS, Owner is a shareholder of record of five (5) shares of West Redlands Water <br />Company stock identified as Nos. 1129 (the "Shares"); and <br />WHEREAS, Owner wishes to take advantage of the opportunity to receive water from <br />the City's domestic water system in exchange for Owner's assigmnent of the Shares to the City; <br />NOW, THEREFORE, in consideration of the mutual promises contained herein, the City <br />of Redlands and Katherine Kaisershot agree as follows: <br />AGREEMENT <br />1. Owner hereby assigns and shall cause all irrigation water entitlement derived <br />from Owner's Shares to be delivered to a City water treatment facility. In exchange, Owner 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 West Redlands <br />Water Company. <br />3. City agrees to furnish water under the conditions and in the amount indicated in <br />compliance with City's agreement with West Redlands Water Company. <br />4. This Agreement constitutes the entire agreement between the Parties regarding the <br />subject matter hereof. Any prior written or 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 Asreement 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 />6. This Agreement may be amended only by written instrument, executed by the <br />Parties. <br />1:\caVljm\Form Agreements \Exchange Entitlement Water Leasodoo <br />