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applications (WRTS File Nos. G4-3554i, G+35542, G+35543, G4-35544, G4-35545. G4-35546, G4-35547 and G4-35548), completed its examination of the applications and issued 8 reports of examination on June ?L,?ALZ ('8 groundwater permits"); and Now, therefore, in consideration of the forgoing, the mutual covenants and undertakings as hereinafter set forth, and other good and valuable consideration, the receipt of which is hereby aclcrowledged, the parties hereto hereby agree as follows: 1. The purpose of this Agreement and the primary reason Roan is willing to place the Water into the Trust is to provide a senior water right as off-setting mitigation that will allow Roan or third parties to apply for and receive new ground water withdrawal or surface water diversionary pernrits or water budget neuhal determinations within ths Yakima River basin, These new water rights will be mitigated by way of a permanent designation of such portion of Roan's beneficiai interest in the Water in Trust as reasonably required to ensure no impairrnent to TWSA or other water rightsl provided that any portion of such mitigation may also be provided by other means. 2. This Agreement shall be effective upon its mutual execution and once the quitclairn deed is execute{ recorded, and delivered to Ecology aud Roan receives Ecology's letter accepting the Water into the Trust and Trust Water Right Certificate. The tenn of ttris Agreement shall then be for so long as any portion of the Water remains in the Trust (the "Temr"). 3. Once this agreement is executed. Roan and Ecology may begin fhe process of designating parties to receive mitigation credit based upon the Water in Trust' Oevetopminf activities that are eligible for mitigation under this Agreement may include commercial, singl+family or multi-family residential development and incidental irrigation occurring within the Yakima River basin. Roan may designate a temporary beneficial use for the portion of the Water in Trust tlrat is no! Yet assigrred as mitigation credit for development activities as provided in this agreemeirt. The process for Roan to identi$ recipients of mitigation credit and for Ecology to issuo mitigated permits or water budget neutral deterneinations is as follows: 3.1 Roan may propose or Rsan may enter into a conffact with a thrrd party to provide a portion of the Water in Trust as mitigation on such terms consistent with this Agreemeni as Roan may elect. Roan or such third parfy shall make to Ecology (or, if appropriaten to a water conservanc>r board) a recluest for determination of water budget nlutratity, application for water right permit or request to assign a portion of one or more of the 8 groundwater permits mitigated by the Water in TrUst to appropriate surface or ground waret at the desired location and for the intended use and quantities, together with all regularty required supporting information. As part of the request for detennination of water budget neutrality, application for water rigirt permit or assignment request, sueh third party shall include documentation, as necessary to conform to WAC 173-539A-050 and in a form prescribed by, of a designation by Roan of the specific quantity of the Water in Trust as required to offset the consumptive loss associated with the uses described on the application or request. 3.2 Upon receipt of a conrplete requsst for determination of water budget neutrality, application for water right permit or assignment request, Ecology, pursuant to V/AC 123-5tA-060. shall accept and timely process it under RCW 90.03J60-.340 and ?