Rocky Mountain High Brands Inc (RMHB)

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WATER PURCHASE AGREEMENT

EX-10.25 4 ex10_25.htm
WATER PURCHASE AGREEMENT

This Water Purchase Contract (“Contract”) for the sale and purchase of water was entered into on this 26th day of July, 2016, to be effective to the fullest extent permissible under applicable law as of June 30, 2016 (the “Effective Date”), by and among Rocky Mountain High Brands, Inc., a Nevada corporation (hereinafter referred to as “Buyer”), and Rocky Mountain High Water Company, LLC, a Delaware limited liability company (hereinafter referred to as “Seller”). Buyer and Seller are referred to from time to time in this Agreement individually as a “Party,” and collectively as the “Parties.”
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3. PRICE AND PAYMENT.

A. Buyer shall pay to Seller as follows: (1) a one-time deposit of $2,500 (to be applied to the first water purchase under this Agreement); (2) $0.01 per gallon of water removed from the Land; and (3) with respect to all water sold by Buyer, an amount equal to 3.0% of the gross purchase price received by Buyer for the water.

B. The amounts payable to Seller for Water taken by Buyer will be remitted by Buyer to Seller within 30 days of the receipt of the applicable gallons of water by Buyer. Amounts payable to Buyer with respect to Water re-sold by Seller shall be paid by Seller within 30 days of the receipt of the applicable sale proceeds by Seller.

C. Notwithstanding the foregoing, if the total amount payable by Buyer for any 12 month period of the term, other than the initial 12 month period of the term, is less than $30,000 (the “Minimum Annual Amount”) then Buyer will pay an additional amount to Seller equal to the amount of the shortfall. The Minimum Annual Amount will be adjusted annually following the first three years of the term, based on upon the percentage increase or decrease to the Consumer Price Index as determined by the United States Government.



https://www.sec.gov/Archives/edgar/data/1670869/000166357716000317/ex10_25.htm