Water Rights Purchase Agreement

This water purchase agreement (“contract”) for the sale and purchase of water was signed on July 26, 2016, to be valid as of June 30, 2016 (effective date) of and under Rocky Mountain High Brands, Inc., a Nevada company (hereafter referred to as “buyer”) and Rocky Mountain High Water Company, LLC, Delaware`s limited liability company (hereafter referred to as “seller”). From time to time, buyers and sellers are individually referred to as “party” and collectively “parties” in this agreement. Transportation agreements can be particularly important when buying real estate with irrigation rights – it is not uncommon for ditches in the same environment to share capacity, or for water rights to be transferred to dilapidated ditches in a nearby ditch, or for large water management organizations to share infrastructure. Depending on your water rights plans, it`s important to know how they are actually transported and delivered – and if there may be situations where they can`t be delivered to your place. An important point in utilization agreements, such as extension plans and transport agreements, is to ensure that they can be attributed to the buyer and to ensure that the promotional language is specific enough in the acts not to question whether the buyer can rely on the subject agreements or restrictions. I recommend consulting with counsel to ensure that all water use agreements are terminated and that existing parties to the agreements are currently in compliance with the law. Other water rights covered in paragraph 2.7.2 may be extension plans (a type of plan required, in certain circumstances, by the State Water Resources Department to protect other water owners from damage caused by your water consumption), transportation or transfer agreements, well-sharing agreements, or other agreements that affect the use of water on the land. With respect to extension plans, it is important to check whether they are in compliance with their water court decision, particularly if the plan is managed by a owners` association or other voluntary organization. I talked about plans to expand the supply of housing on the basis of 10 to 20 years of water leases that are no longer available and plans for which the government`s regulatory accounting procedures have not been followed for years.