Res 1997-109 - Laserfiche WebLink

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" rOD Section 2. Term. This Agreement shall be effective as of the date first written above, and shall continue in effect for an intitial term of fifty (50) years or until all of the Project Debt Instruments (including principal and interest) for the initial phase of the Project have been fully paid, whichever occurs later (the" Ini tial Term"). Upon termination of the Initial Term, this Agreement shall be renewed or ~ extended at the request of either Party for an additional fifty (50) years under such terms and conditions as may be agreed upon by ! GBRA and the City. The City's Raw Water Contract is hereby amended to extend its term so that it terminates upon expiration of the term of this Agreement. Section 3. Rights after Termination. Except as specifically provided otherwise in this Agreement, all of the rights and obligations of the Parties under this Agreement shall terminate upon termination of this Agreement, except that such termination shall not affect the rights or liabilities accrued prior to such termination, including the equity ownership interests acquired by the Parties in the Plant and the Raw Water Delivery System, respectively, as provided herein. Section 4. Design, Construction, Operation and Maintenance, and Ownership of the Plant. ( l) Plant Desiqn and Construction The City shall design acquire and construct the Plant. The - Plant shall be designed and constructed in phases, so that the ¡ completed initial phase can be easily expanded from time to time by the Minimum Plant Expansion (3 MGD), or a multiple thereof. The design capacity of the initial phase of the Plant shall be 6 MGD, unless either Party specifies a greater initial capacity as set forth below, or unless the Parties agree otherwise. The amount of any increase in the initial phase capacity of the Plant shall be 1 MGD or a multiple thereof. If either Party desires a greater initial phase capacity, it shall give the other Party notice of the amount of increase before the final Plant design is fifty percent (50%) complete. If either Party desires to increase the' initial phase capacity after the final Plant design is fifty percent (50%) complete, the Party requesting the increase in capacity shall be obligated to pay all increases in the cost of design, engineering and construction actually incurred as a result of designing the Plant to include the requested increased capacity in the initial phase. Provided, however, that no change in the final design of the initial phase capacity of the Plant shall be authorized after the final design is fifty percent (50%) complete if such design change could delay the anticipated completion date for the -5-