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WELL PURCHASE AGREEMENT
BETWEEN THE WYOMING WATER DEVELOPMENT COMMISSION
AND TOWN OF STAR VALLEY RANCH 000"S
1. Parties. This Agreement ("Agreement") is made and entered into by and
between the State of Wyoming, by and through the Wyoming Water Development
Commission ("Commission"), and the Town of Star Valley Ranch, a duly organized
municipality existing under the laws of the state ("Sponsor").
2. Purpose. The purpose of this Agreement is for the Commission to assign
its interest in the TSVR Well No. 1 ("Well"), which was constructed by the Commission
pursuant to a Level II feasibility study, to the Town of Star Valley Ranch so that the Well
can be converted to a production well and used as a domestic water supply source for
the Town of Star Valley Ranch pursuant to 2009 Wyo. Sess. Laws Ch. 38.
3. Term of Agreement. This Agreement shall commence upon the day and
date last signed and executed by the duly authorized representatives of the parties to
this Agreement, and shall remain in full force and effect until the obligations of the
parties have been fulfilled.
4. Payment. The Sponsor agrees to pay the Commission FIFTY
THOUSAND FIVE HUNDRED TWENTY-SEVEN DOLLARS ($50,527.00) or thirty-three
percent (33%) of the actual construction costs of constructing the Well, whichever is
less. The Sponsor shall purchase the Well with amortized payments for a term of thirty
(30) years, at an annual interest rate of four percent (4%). The Sponsor shall execute a
promissory note, secured by a mortgage that mortgages, warrants, grants, pledges and
assigns the Well, any appurtenances necessary for operation of the Well and all
easements, rights-of-way, water rights and permits required for construction and
operation of the Well, to the Commission.
5. Responsibilities of Commission. The Commission does hereby
transfer and assign all its right, title and interest of whatsoever nature in and to Town of
Star Valley Ranch and all works pertaining thereto to the Sponsor for use as a domestic
water supply source for the TSVR Well no. 1. The Well is located in the SE'/4 NE'/4 of
Section 6, Township 34 North, Range 118 West, of the 6th Prime Meridian, Lincoln
County, Wyoming.
6. Responsibilities of the Town of Star Valley Ranch.
A. Well Permits and Operations. The Sponsor, prior to operation of
the Well, shall obtain all necessary permits, licenses, or other authorizations necessary
for operation of the Well, including, but not limited to, submission of a statement of
Completion of Construction of the well in the Office of the State Engineer. The Sponsor
shall become solely responsible for future operation, maintenance or abandonment of
the Well including properly plugging and abandoning the Well if the Sponsor decides or
is required to do so, and Commission shall have no further responsibility for operating
or plugging and abandoning the Well.
7. General Provisions.
A. Amendments. Either party may request changes in this
Agreement. Any changes, modifications, revisions or amendments to this Agreement
which are mutually agreed upon by and between the parties to this Agreement shall be
incorporated by written instrument, executed and signed by all parties to this
Agreement.
B. Applicable Law. The construction, interpretation and enforcement
of this Agreement shall be governed by the laws of the State of Wyoming. The courts
of the State of Wyoming shall have jurisdiction over any action arising out of this
Agreement and over the parties, and the venue shall be the First Judicial District,
Laramie County, Wyoming.
RECEIVED 8/5/2009 at 2:42 PM WELL PURCHASE AGREEMENT
RECEIVING # 948781 STAR VALLEY RANCH WATER SUPPLY
BOOK. 729 PAGE: 295 Page 1 of 3
JEANNE WAGNER
LINCOLN COUNTY CLERK KRURAPPI=D %A/V
06192009/F
006"6
C. Entirety of Agreement. This Agreement, consisting of three (3)
pages, represents the entire and integrated agreement between the parties and
supersedes all prior negotiations, representations and agreement, whether written or
oral.
D. Prior Approval. This Agreement shall not be binding upon either
party unless this Agreement has been reduced to writing before performance begins as
described under the terms of this Agreement, and unless this Agreement is approved
as to form by the Attorney General or his representative.
E. Severability. Should any portion of this Agreement be judicially
determined to be illegal or unenforceable, the remainder of the Agreement shall
continue in full force and effect.
F. Sovereign Immunity. The State of Wyoming and Wyoming Water
Development Commission do not waive their sovereign immunity by entering into this
Agreement, and fully retain all immunities and defenses provided by law with respect to
any action based on or occurring as a result of this Agreement.
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WELL PURCHASE AGREEMENT
STAR VALLEY RANCH WATER SUPPLY
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06192009/F
8. Signatures. In witness thereof, the parties to this Agreement, through
their duly authorized representatives, have executed this Agreement on the days and
dates set out below, and certify that they have read, understood, and agreed to the
terms and conditions of this Agreement. 000297
WYOMING WATER DEVELOPMENT COMMISSION
William E. Bensel, `Chairman
o ~
Mitchel T. Cotten io r, Secretary
ATTEST:
TOWN OF STAR VALLEY RANCH
'J. Bo iddoway, Mayor
ATTEST: ~R'114
j 'o TOWN
~ ~ - CLFRx { T~
l3rPF.Vt7» L 13R- ~.ez.,.~~,L'-/c. lr.. ~,~1-'•. •:•oh
N S ATTORNEY GENERAL'S OFFICE APPROVAL AS TO FORM
S. Jane Caton
Senior Assistant Attorney General
d
Date
Zo /ey
D e
ate
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Date
The Agreement date is the date of the last signature affixed to this page.
WELL PURCHASE AGREEMENT
STAR VALLEY RANCH WATER SUPPLY
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