Common use of Water Rights Dedication Clause in Contracts

Water Rights Dedication. Owner owns the water rights and lateral ditch company rights appurtenant to the Property that are described on Exhibit B attached hereto and incorporated herein by reference. Owner shall dedicate all such water rights and lateral ditch company rights to the Town no later than the date of approval of the final plat of the first phase of development of the Property. Owner specifically agrees that it has not sold or transferred any water rights appurtenant to the Property within the past year nor will it do so during the pendency of this annexation petition and, once annexed to the Town, will not sell or transfer any water rights appurtenant to the Property without the prior written approval of the Town.

Water Rights Dedication. Owner owns the water rights and lateral ditch company rights appurtenant to the Property that are described on Exhibit B attached hereto and incorporated herein by reference. Owner shall dedicate all such water rights and lateral ditch company rights to the Town no later than [the date of approval of the final plat of the first phase of development of the Property]. Owner specifically agrees that it has not sold or transferred any water rights appurtenant to the Property within the past year nor will it do so during the pendency of this annexation petition and, once annexed to the Town, will not sell or transfer any water rights appurtenant to the Property without the prior written approval of the Town.