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<br /> Agreement, a Wholesale Power Agreement, an Operating Agree- <br /> ment and a Technical Services Agreement. It is the firm intent <br /> of LCRA and City that the closing date shall be on or before <br /> August 28, 1986. <br /> 4. The purchase price of the system shall be the original cost <br /> reflected upon the books and records of LCRA of the San <br /> Marcos Distribution Plant and General Plant as of June 30, 1986. <br /> 5. LCRA and City shall execute an Operating Agreement on or <br /> before the date of closing substantially in the form of Exhibit IIA 11 <br /> attached hereto. <br /> 6. LCRA and City shall execute a standard Wholesale Power <br /> Agreement on or before the date of closing. <br /> 7. The rates and charges applicable to wholesale power and energy <br /> purchased from LCRA by City shall be at rates for 138kv service <br /> as set forth in the Exhibit B attached to the Wholesale Power <br /> Agreement. For the purpose of calculating the IIDelivery <br /> System Chargell under such rates, LCRA will calculate the <br /> metered kw demands at the 138/12.Skv stepdown substations <br /> listed in Exhibit A to the Wholesale Power Agreement as though <br /> delivery was at a single 138kv point of delivery during the <br /> term of the Operating Agreement. <br /> 8. During the term of the Operating Agreement, LCRA will own, <br /> operate and maintain the 138/12.Skv stepdown facilities, at <br /> LCRA's sole expense, necessary to provide safe and adequate <br /> service to City at reasonable cost. <br /> 9. At the time the Operating Agreement expires, the City shall <br /> have the right to purchase the 138/12. Skv stepdown facilities <br /> from LCRA, in good condition, at value equal to the original <br /> cost less accumulated provision for depreciation at the time <br /> the Operating Agreement expires. <br /> -2- <br />