AG 1992 01 06 - Laserfiche WebLink

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of approximately Ten Million Nine Hundred Eighty-Three Thousand Nine Hundred Ninety-Four and 32/100 Dollars ($10,983,994.32) and upon which an outstanding principal debt of Four Million Seven Hundred Seventy-One Thousand Five Hundred and No/100 Dollars ($4,771,500.00) exists as of December 1, 1991; PROVIDED THAT: (a) Concord shall assume all expenses associated with the operation and maintenance of the Water Lines, excluding debt service, and, to the extent permitted by law, shall indemnify and save Cabarrus County from any liability associated with such operation and maintenance, including, but not limited to, any costs associated with environmental compliance and/or liability for the Water Lines; and (b) The approval of all required state and federal regulatory authorities, and all permits or other documents required by law shall have been obtained, to the extent then available, and, if necessary, the approval of the owner of the general obligation bonds secured in part by the Water Lines shall have been obtained. 10. Treated Water Agreement Modifications. Effective simultaneously with the transfer of the Water Lines set forth in Paragraph 9 hereinbefore, Cabarrus County and Concord hereby amend Paragraph 5 of the Treated Water Agreement to read as follows: 5. Treated Water Charqe. For all treated water sold or delivered by Concord to Cabarrus or received by Cabarrus from Concord pursuant to this Agreement or otherwise, Concord shall charge Cabarrus no more than 1.2 times the production cost thereof. The production cost shall include only the expenses of operation and maintenance of the facility or facilities utilized by Concord for treating raw water and shall expressly exclude any and all capital costs for such facilities, whether considered direct or indirect cost, or debt service therefor (the "Treated Water Charge"), provided that: 12. - 3