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4/4/1984
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4/4/1984
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
04/04/1984
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Plant, in a good and workmanlike manner, to a capacity sufficient for the <br />purposes of providing water to the Property and all of the Property's <br />future occupants. <br />2. Adjacent Owner -agrees that, subject to Purchaser's having <br />obtained the appropriate "franchise" and approvals therefor from Indian <br />River County, and upon the completion of the Water Plant expansion as <br />aforesaid, Adjacent, Owner sball be bound and obligated'to supply water to <br />the Property and all of the Property's future occupants in the quantities <br />demanded and drawn thereby. <br />3. Adjacent Owner and Purchaser agree that, in the event of <br />any interruption_ of or restriction on the supply of water available at <br />the Water Plant,- including, without limitation, interruption or restric- <br />tion caused by drought, water rationing and malfunction of pipes and <br />machinery, then, in such event, the total supply of water available at <br />the Water Plant shall be allocated equally between the Adjacent Property <br />and the Property; provided, that the Property, under such circumstances, <br />shall not be entitled to draw more water than that which is actually <br />required by the units at the Property then occupied. <br />4. Commencing with the month immediately following the month <br />in which the Water Plant expansion is commenced, Purchaser shall be <br />obligated to pay twelve and one-half percent (12k%) of the cost of main- <br />taining and operating the Water Plant. Purchaser's obligation to so pay <br />shall increase by twelve and one-half percent (12k%) each month there- <br />after until Purchaser shall be paying for fifty percent (50%) of the <br />costs of maintaining and operating the Water Plant. Purchaser's maximum <br />obligation shall be fifty percent (50`x) of such costs. The costs of <br />maintaining and operating the pater Plant shall be determined by a con- <br />sulting engineer selected by Adjacent Owner -l' and <br />such costs shall be deemed to include, without limitation, all real <br />estate taxes, electricity and expenses of insurance incurred in connec= <br />tion with the operation of the Water Plant. Such payment of maintenance <br />and operating costs shall be Purchaser's entire payment obligation for <br />the water that shall be supplied to the Property. Notwithstanding the <br />foregoing, Purchaser shall not be obligated to pay any of the maintenance <br />and operating costs of the Water Plant attributable to the supplying of <br />water to any other property other than the Adjacent Property or the <br />Property. <br />5. Purchaser shall not be obligated to pay the cost of curing <br />or otherwise -correcting any citation or other violation of any govern- <br />mental regulation affecting the Water Plant at the time of commencement <br />of the Water Plant expansion and Adjacent Owner shall bear the full cost <br />of same. In addition, Purchaser shall be entitled, at the time of com- <br />mencement of the Water Plant expansion, to cause an inspection to be made <br />**which engineer is licensed by the State of Florida and is practicing; his <br />profession as of the date hereof in Indian River county, Florida, ... <br />1/26/84 <br />APR 4 1984 <br />-2 .. BOOK: 56 mn 575 <br />°'H'O678PASE248D� <br />
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