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10-13-2016 UERWA First Amendment to Ground LeaseFIRST AMENDMENT TO GROUND LEASE THIS FIRST AMENDMENT TO GROUND LEASE ( "Amendment ") is made as of October 13, 2016 by and between TOWN OF AVON, a home rule municipal corporation of the State of Colorado (hereinafter "Lessor ") and UPPER EAGLE REGIONAL WATER AUTHORITY, a separate governmental entity established pursuant to Section 29 -1- 204.2, C.R.S. (hereinafter "Lessee "). RECITALS WHEREAS, Lessor and Lessee entered into that certain Ground Lease ( "Lease ") dated April 30, 1985, recorded May 1, 1984 in Book 412 at Page 782 of the records of the Clerk and Recorder of Eagle County, Colorado; and WHEREAS, the Lease provides for Tenant to finance, construct, operate and maintain a water treatment plant and activities related thereto (the "Project ") for Lessee's use and benefit for a term of 99 years ending on April 30, 2084; and WHEREAS, and the rent payment due for the term of the Lease has been paid in full; and WHEREAS, Lessee has completed the construction and expansion of the Avon Water Treatment Facility ( "AWTF ") on the leased premises, a portion of Tract "P", Benchmark at Beaver Creek Subdivision, Town of Avon, County of Eagle and State of Colorado, as provided in the Lease and continues to occupy and operate the AWTF for the benefit of Lessor and the other Contracting Parties of the Upper Eagle Regional Water Authority, subject to the teens and provisions of the Lease; and WHEREAS, Lessee has occupied and fenced an area greater than and extending beyond the footprint of the original Lease which is beneficial and essential for operation and security purposes of the AWTF; and, WHEREAS, Lessor desires to extend the area of the Lease to promote the efficient and secure operations of the AWTF, and furthermore Lessee does not desire to reserve any air rights to construct municipal facilities above the AWTF during the remaining term of this Lease; and, WHEREAS, the term of the Lease continues as provided therein and the Parties now wish to substitute a new legal description of the Premises to be Leased in place of Exhibit "A" attached to the Lease for the mutually beneficial reasons listed above. NOW, THEREFORE, for consideration of goodwill, mutual promises and cooperation, the parties hereto agree as follows: {00486769.DOCX/4) Eagle County, CO 201615971 Teak J Simonton 09/29/2016 Pgs: 5 03:14:59 PM REC: $31.00 DOC: $0.00 1. PREMISES TO BE LEASED. The real property to be leased is located in the Town of Avon, County of Eagle, Colorado, and is described as follows: A parcel of land located in Amendment No. 3, Benchmark at Beaver Creek, Section 11, Township 5 South, Range 82 West of the 6th Principal Meridian, Town of Avon, Eagle County, Colorado being more particularly described as follows: Beginning at the Southwest corner of Tract P, Amendment No. 3, Benchmark at Beaver Creek, thence along the Westerly line of Tract P, also being the Easterly R.O.W. of Beaver Creek Blvd. along the arc of a non - tangent curve to the left 58.45 feet, having a radius of 390.00 feet, a central angle of 8 °35'11" and a chord which bears N16' 19'31 "E 5 8.3 9 feet; thence continuing along said line N12 001'54 "E 74.07 feet; thence departing said line S73 °27'56 "E 397.95 feet; thence S 18 °25'32 "W 132.37 feet to a point on the Northerly R.O.W. of the U.P.R.R.; thence along said R.O.W. line along the arc of a non - tangent curve to the left 387.84 feet, having a radius of 2914.93 feet, a central angle of 7 °37'24° and a chord which bears N73 027'22 °W 387.55 feet to the point of beginning. ( "Leased Premises "). SUBJECT TO any and all ditch, drainage or detention facilities that may now exist within the Leased Premises, the existence of which is hereby acknowledged by Lessee and Lessor. Lessee agrees not to modify or fence in any portion of these ditch, drainage or detention facilities without the written authorization of Lessor during the term of this Lease. Lessee assumes no responsibility, obligation or liability for maintaining any of the ditch, drainage or detention facilities by reason of this Lease. The described parcel contains 1.150 acres more or less. See Exhibit A, Survey and Legal Description, dated July 27, 2016, attached hereto and incorporated herein by this reference. 2. REAFFIRMATION OF LEASE TERMS. Except as modified by this Amendment, the terms and provisions of the Lease shall remain in full force and effect, including the Term of the Lease as set forth in Paragraph 2 of the original Lease; provided, however, that in the event of a conflict between the terms and provisions of this Amendment and the Lease, this Amendment shall control. 100486769.DOCX / 4} 2 IN WITNESS WHEREOF the parties have executed this First Amendment to Ground Lease as of the date and year first written above. TOWN OF AVON, COLORADO ( "Less ") By: Je nie Fancher, Mayor Attest: QZ& D Debbie Hoppe, Town Clerk UPPER EAGLE REGIONAL WATER AUTHORITY ( "Lessee ") Attest: J , Secretary {00486769.DOCX / 4} George Exhibit "A" Leased Premises See attached Exhibit A, Survey and Legal Description, dated July 27, 2016. 100486769.DOCX / 4 Z IM0 71 W ? ] o o + D m w 6N O z rn ;�aa 11 a ^ unp -5 <R o 34£Q'g MN x° Ln 3�49g ci 1: n +M c+ A ?0?4ypy� � 3 �p� 00. 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