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AGREEMENT TO EXCHANGE ENTITLEMENT WATER <br />This water entitlement exchange agreement ("Agreement") is made and entered into this <br />27th day of August, 2018 (`Effective Date"), by and between the City of Redlands, a municipal <br />corporation ("City") and Peter Buoye and Elizabeth Buoye, husband and wife as point tenants <br />("Owner") City and Ownei are sometimes individually referred to herein as a "Party" and, <br />together, as the "Parties " <br />RECITALS <br />WHEREAS, the City and the Redlands Watei Company have entered into an agreement <br />dated August 6, 1996 to exchange irrigation watei, a copy of which is attached hereto as Exhibit <br />"A," and <br />WHEREAS, Ownet is a shareholdei of record of fourteen (14) shares of Redlands Water <br />Company stock identified as Nos 1508 and 1546 (the "Shares"), and <br />WHEREAS, Owner is a shareholder of record of an equivalent twenty-nine point two <br />(29 2) / twenty-foui point nine (24 9) shares of Redlands Water Company stock (as indicated on <br />page 2), and <br />WHEREAS, Ownei wishes to take advantage of the opportunity to receive watei from <br />the City's domestic water system in exchange foi Ownei'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 Peter Buoye and Elizabeth Buoye 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 watei system <br />2 Owner shall comply with the provisions of City's agreement with Redlands Watei <br />Company <br />3 City agrees to furnish watei under the conditions and in the amount indicated in <br />compliance with City's agreement with Redlands Watei Company <br />4 This Agreement constitutes the entire agreement between the Parties regarding the <br />subject matter hereof Any priot 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 of <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 />I 1ca\dJm\Form Agreemen€s\Exchange Entitlement Water iease.doc <br />