HomeMy WebLinkAbout22-116 Native Water Dedication Agreement Amendment CK H2O Ventures, LLC Millrace Resources 10-26-2022RESOLUTION NO.22-116
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE,
COLORADO, ACTING BY AND THROUGH ITS WATER ACTIVITY ENTERPRISE,
APPROVING THE AMENDMENT TO THE NATIVE WATER DEDICATION AGREEMENT
AND ADDENDUM BETWEEN THE TOWN OF FIRESTONE AND CK H2O VENTURES LLC A
COLORADO LIMITED LIABILITY COMPANY, MILLRACE RESOURCES LLC A
COLORADO LIMITED LIABILITY COMPANY AND FRONTIER VENTURES LLC, A
COLORADO LIMITED LIABILITY COMPANY
WHEREAS, upon adoption of Resolution No. 22-46 the Town of Firestone ("Firestone") approved a Native
Water Dedication Agreement and Addendum (collectively "Dedication Agreement") with CK H2O Ventures LLC
Millrace Resources LLC and Frontier Ventures LLC (collectively "Developer") which allows Developer to dedicate
Native Water in the form of shares in the New Coal Ridge Ditch Company to Firestone in satisfaction of Developer's raw
water dedication requirements set forth in the Firestone Municipal Code; and
WHEREAS, the Dedication Agreement sets deadlines for certain actions to be taken in the process of dedicating
the Native Water to Firestone; and
WHEREAS, the Developer has requested additional time to complete the obligations for its performance of the
October Credit Closing as the term is defined in the Dedication Agreement; and
WHEREAS, the Parties desire to extend Dedication Agreement's deadlines as set forth in an Amendment to the
Dedication Agreement so that the Developer can complete the dedication of the Native Water to Firestone.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
The Amendment to the Native Water Dedication Agreement and Addendum between the Town of Firestone,
acting by and through its Water Activity Enterprise, and CKO H2O Ventures LLC, a Colorado limited liability company,
Millrace Resources LLC, a Colorado limited liability company, and Frontier Ventures LLC, a Colorado limited liability
company, is approved in substantially the same form as the copy attached hereto and made a part of this resolution, and
the Mayor is authorized to execute the Amendment to the Native Water Dedication Agreement and Addendum on behalf
of the Town of Firestone.
INTRODUCED, READ, AND ADOPTED this 26th day of October, 2022.
SE0
A T:
ftr"onzaleZ, Acting Town Clerk
APPROVED AST RM:
Willi�ht, AttorneyAttorney
T�F FIRES ONE, COLORADO
Drew Alan Peterson, Mayor
TO NATIVC NVATF:R DEDICATION AGREEMENT AND ADDENDUM
MIS ANJENDNIFNI 10 NaATIVF WATER DEDICATION A(.iRLLGNIE'NT AND
ADDENDUM ("Amondment") is cnwmd into by and between Firomme and C'K U120 Vemures,
I A Y a Colorado limited liability company, Ivliilracc Resources, 1.1A . A Colorado limited liability
comiaany, and Frontier Ventures. ld,C, a Colorado linti(ed liability Company whose address is wo
Carlson Land Mclopment. M% 1070 ('lay' Street. llroomlield. Colorado 8002i; Attention:
Make C`adson (colleetloy "l)mvkp&'; Firesnma and Ucrelolxrmty be relcrrcd to collectively
herein as the -'Parties'. In this regard, the Parties hereby agree as k4ious:
%VITNIiSSh I I
Firestone and Ucwtopor entered into a Native Watei Dedication Agreement and
Addendum ('collectively the "Dedication Agreement') dated March 30. 3022 which allow.
I )eveIoper u, dedicate NaIivc Water in the form of sharca in the Ne%N Coal lodge I)itcIt ('ompany
(the " Natkc Water'') to Firesume in satisfaction ol`Devcloper's nov water dedication requirements
10 the Firestone Rlunicipal Cade: and
WI TERMS. tine Dedicuthm Agreement sets certain deadlines lit ecriain actions to Ik taken
in the proec ss of dodictning the Native Water to Hrestonv; tmd
WIIFR %AS. Develoixr has requested additional lime to compteto the obligations
ncccssary liar its 1wrEbrmanec 411 the Ociober Credit C'losiog. as drat lerm is dclincsl in doe
Dedication Agreement
WHI'TEAS, the I'ariics oi%h it, amend those deadline. ;is slaled in this Anncndmcnt to
allow lbr Devclopor to complete the dedication of the halve AA user to firestone.
NOW.'Il IFRITORE, fitr and in Consideration of the uuimal pn+mises set liirth. anti other
good and valuable considetxntinn, which is hereby ucknovkleth'ed and receipled for, 1 (restoue and
I)eaclupct ngtea as fi0mm
I. I he reetlak aho%v aw heicb) incorporated im if Mail; restated hewhi,
2. Dewloper has paid the Natke Water Dedication Fcc. ill aceordamce with its obligations
unifier the Dedication Agreement.
.. 1 ate" Investigation PCr 0d" a. chat wont is Used zmd defined in the Dedication Agrecmcnt
is e�itupl[+tad a+ofthe date otthis Amcnthnern. f iresionc ha pro%ided Developci %%kh it:;
detennivation regarding the Native Credit (its that term is used in the Dedication
Agrcemcnp that Devcluivr dots reticlvc Irian the dedication ofllie Native Water it
Firestone.
T The l'ar(ics agree it, cstend the deadline Tin all actions and obligation, of the Parties
Mitlin:d at the (,)ctiiber I WAI Closing Up to and including DeWnhcr 15. N121
5. Excepl its modified Ix° this Amendtnrnt, the terms o('thc Dedicinion Agrecnieot remain in
lull rinve mad effect,
G. In the event of any inconsistencies between the terms and provisions of this Amendment
and tho,-x set birth in the Pedicaliou Agree ntcm, the wnnv and conditions of this
;Amendment shall control in all inslancas, Capitalized terms not otherwise delined in this
Amendment shall have the me mutg :attributed to those term,, in the Dedication
Agreement. ilxeept as set Barth in this Amendment. the Dedication Agrecment is ratilicd
and acknowledged bk the parties to lie in lull tierce and effect. -1 his Amcndmcnt may be
executed in two or more COUilterparts. each of which shall he deemed to original. all of
wfiieh to4I.rther shall eartstitate one and the same instrument. Executed copies of this
Amcndmcnt mad be delivered by email of facsimile and the parties hereto ag!rec to accept
and to taxutd Isp electronic or facsimile signatures hereto.
TOWN ON FIRESTONE CK 1120 (VF�N'1`i�sltES, lAX
Nan' Soi^ Name:
'lisle: �(a ar _ I"itic: t,tvp V-C—j
%l NIILLRACF. RESOURCES, 1,11'. a
�7z-2 i z Colorado limited tiahiHh company
;m
�LORPO NFtate: v�e7rn,a t6,<j, cf—
t i11r< _�jtc � fin.,
MONTIER VENTURLS, LLC. a
Colorado limited liability company