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<br />6QZ <br />is further put on notice that contributed property may not be included in invested <br />capital or allowed depreciation expense by any regulatory authority having <br />jurisdiction over Utility's rates in any future rate making proceedings, original or <br />appellate. Notwithstanding the foregoing statements, the parties ackr:owledge that <br />when the Utility System is incorporated into City's existing municipal water utility <br />system, City, as a home rule municipality, shall have the sole legal authority to set <br />rates for the Utility system without regard to invested capital subject only to the <br />Commis~.i~n's limited appellate jurisdiction over rates to Users outside City's <br />corporate limits. <br />10. COST OF OBTAINING REGULATORY APPROVAL. <br />The City shall bear the cost of all attorneys and/or other consultants retained by or <br />. <br />assisting it in entering into this agreement or in obtaining TNRCC approval thereof. <br />Sellers shall bear the cost of all attorneys and/or other consultants retained by or <br />assisting them in entering into this agreement or in obtaining TNRCC approval <br />thereof. It is not anticipated that any permits, licenses, or CCN's required to operate <br />- <br />the utility system which are now held by Utility in its name will have to be transferred <br />to City. To the extent that such transfers must be made or changes in names and <br />addresses filed, City shall make such applications or changes and bear all costs <br />associated therewith. <br />11.DEFAUL T AND CURE. <br />If one party determines the other party to be in default of any obligation under this <br />agreement, the non-defaulting party will notify the defaulting party of the specific <br />-11- <br />