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! 5* First party has certificate of appropriation from State Engineer authoriizping use of 2c5 second feet of water for railroad and domestic purposes <, 6 C Second party is lessee of; in possession of and maintains and operates all of the property of first party o 7. Water Company is the owner of the right to put to beneficial use ALL water arising from the springs located upon water bearing land and known as "Little Spring", "Middle Spring", and "Big Spring", 8C Water Company has certificate of appropriation from State Engineer authorizing use of not to exceed 1<,88 second feet of water from water bearing land for irrigation and domestic purposeso 9c Water Company has certificates of appropriation from State Engineer authorizing use of not to exceed 2 1 ,h9 second feet of water from water bearing land for municipal and domestic purposes, 1929 agreement between parties terminated as of December 3 1 , 19li9 and 1950 agreement substituted therefor -Jh h * in which it is agreed: 1« Second party — (Union Pacific Railroad) — to produce all water "second party" and "Water Company" can put to beneficial use not in excess of the amount thereof which both are entitled to appropriate and divert from the "Water bearing lands", 2, Right reserved by second party to improve or retire its water producing transportation and delivery facilities.