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<br />NOW, THEREFORE, in consideration of the premises <br /> <br />aforesaid, and the initial covenants, promises and agreements <br /> <br />herein set out, the parties hereto do hereby agree and contract <br /> <br />as follows: <br /> <br />ARTICLE 1 <br />TERM <br /> <br />1 . 1 <br /> <br />This Agreement, in accordance with the terms <br /> <br />hereinafter set forth, will become effective on September 1, <br /> <br />1986 and shall have an initial term of five (5) years and will <br /> <br />remain in effect thereafter on a year-to-year basis unless <br /> <br />terminated by either party by giving written notice to the <br />other party at least twelve (12) months prior to the expiration <br /> <br />of the initial five (5) year term or any succeeding term. <br /> <br />1.2 <br /> <br />For the purposes of this Agreement, the CONTRACT <br /> <br />YEAR shall be the fiscal year of the CITY. <br />YEAR will end September 30, 1987. <br /> <br />The first CONTRACT <br /> <br />ARTICLE 2 <br />OPERATING AGENT <br /> <br />2.1 <br /> <br />CITY hereby employs and designates LCRA as its <br /> <br />Operating Agent to operate, maintain, replace and extend on the <br />terms hereinafter set forth, all of the distribution and <br /> <br />transmission facilities purchased from LCRA or which may <br /> <br />-3- <br />