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40 <br />SECTION XXI <br />The Corporation shall design all facilities within the Franchise <br />Area to conform to the Indian River County Master Plan for utilities, <br />when applicable. Permits shall be required for the placement or loca- <br />tion of wells and treatment plants. The County Engineer, or his <br />designee, shall approve the plans and permits. In addition, all plans <br />shall be approved by the Department of Environmental Regulation and <br />other appropriate agencies. County shall make necessary inspections <br />during construction, and quarterly thereafter, at the cost of $20.00 <br />per unit as covered by the permit fee herein, to be paid by the Corpora- <br />tion. <br />SECTIO_ N XXII <br />The franchise and rights hereto granted shall take effect and be <br />in force from and after the time of the adoption of this resolution <br />by the Board and shall continue in force and effect for seven (7) <br />years from the dare that it is fully executed. During the seventh <br />(7th) year, after notice from the Corporation to the County, the Corpora- <br />tion for valuable consideration grants to the County the following <br />options: <br />(a) Extend the franchise with all escrowed monies paid to the <br />Corporation and further escrows discontinued. <br />(b) Provide to the franchise area sewer and/or water service to <br />lock in both systems from a publicly owned water distributor or sewage <br />collection system retaining the escrow, and extend this franchise on <br />the system not receiving publicly owned services. <br />(c) The County after notice from Corporation, shall have the <br />right to purchase the Corporations water and sewer plants at Corporations <br />original purchase price less 3�% depreciation per year or in the <br />alternative Corporations original purchase price less Corporations <br />actual depreciation of said plants during the seven year period. In <br />conjunction with the water and sewer plants purchase, County shall <br />purchase necessary land areas upon which the plants are located at <br />the then market value of the real estate. Upon acquisition of the <br />sewer plant, water plant, and appurtenant real estate, County would <br />then own the entire water system and sewer system and would terminate <br />this franchise and provide water and sewer utility service to the <br />franchise territory. All accumulated escrow fees would vest in County. <br />- 14 - <br />