BC 1989 04 19 - Laserfiche WebLink

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88 WHEREAS, CONCORD and CABARRUS desire to cooperate in said undertaking pursuant to the terms of this Agreement and an agreement between the parties relating to the sale of treated water by CONCORD to GABARRUS executed simultaneously herewith (the "Treated Water Agreement"); NOW, THEREFORE, in consideration of the premises herein, the terms of the Treated Water Agreement, and the mutual covenants and agreements hereinafter set forth, CONCORD and CABARRUS agree as follows: 1. Purpose. The purpose of this Agreement is to establish a basis for cooperation between CONCORD and CABARRUS in the construction, operation and maintenance of the Reservoir upon land now owned by CONCORD and/or CABARRUS and/or others in order to provide and supply an additional source of raw water for the residents of greater Cabarrus County. 2. Duration of Agreement. The duration of this Agreement is forty (40) years, which term shall be automatically renewed for successive periods of twenty (20) years each, unless amended or terminated as to executory matters in the manner set forth in Paragraph 13 of this Agreement. 3. Definitions. For further explanation and interpretation of this Agreement, the following definitions shall apply herein wherever the context dictates: (a) Actual Maintenance and Operation Expense (the AME): The actual expense for electricity and related charges for pumping raw water from the Reservoir, if any, and/or if applicable, and the actual expense for the operation and maintenance of the Reservoir, including, but not limited to, personnel, repairs and related expense, but specifically excluding and omitting any and all initial capital expense for the Reservoir, whether considered direct or indirect cost, amortized debt, or otherwise computed. (b) Available Yield: The quantity of water from the Reservoir that is available for sale by CABARRUS at any time after providing for the Minimum Downstream Release. (c) Completion Date: The first date upon which the Reservoir is certified to produce treatable water, i.e. the first date the Reservoir reaches and is able to sustain a minimum water level of 640' Mean Sea Level (MSL) on a weekly basis (the level below which rationing shall occur under drought conditions as herein defined). (d) Customer(s): Any or all users authorized by CABARRUS, in writing, to withdraw, consume or receive raw water from the Reservoir, including, but not limited to, CONCORD, the Kannapolis Water Company, or any other person, firm, corporation, county, municipal corporation, water district, sanitary district, or other entity whatsoever so authorized, their successors or assigns. (e) Drought Conditions: Any time at which the pool level of the Reservoir falls ten (10) feet or more below the normal pool level. This level will be at or below 640' MSL. (f) Drought Rationing Period: The period of time after the declaration of Drought Conditions until the minimum pool level of 645' MSL can be sustained on a weekly basis. (g) Historic Floor Amount: The approximate average quantity of raw water historically withdrawn, consumed or received from Coddle Creek by a riparian landowner as a usufructuary right ancillary thereto. (h) Kannapolts Water Company: The assumed name of that general partnership identified in Corporation Book 28, Page 585, of the Cabarrus County Registry, which operates a raw water pump station along Coddle Greek north and upstream of the Reservoir site, its predecessors, successors and assigns. (i) Maximum Use Conditions: Any time at which the withdrawal, consumption or receipt of raw water by all customers of the Reservoir equals the net available yield. (j) Minimum Downstream Release: The minimumquantity of water that must be discharged through or over the dam downstream, to