Fairwater

Fair Water 841
Fairwater, Wisconsin, is a village in Fond du Lac County on state highway 44 about 25 miles west of Fond du Lac. It has about 350 residents.

Apparently (see the stamp above) the name was sometimes spelled as two word - Fair Water - though I can find no other reference to this. It was seemingly named for the favorable waters - like the Grand River - in the area.