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The Corporation shall supply the County with a copy of <br />the Corporation's Annual Report and financial statements. Also, <br />a letter from a CPA certifying that the 3% franchise fee and the <br />2 1/2% renewal and replacement account has been collected and <br />disbursed in accordance with the terms of this Agreement. <br />SECTION XV <br />ESCROW CHARGES: <br />Corporation agrees to pay a fee in the amount of the <br />currently imposed contribution in aid of construction for each <br />11111 f' -t the tii�T F Lha <br />.. I.G oL c 188iiuilce ui a certificate of occupancy, <br />for that unit as a contribution in aid of construction charge <br />(for future connection to County water distribution and sewage <br />collection mains) as provided for in Ordinance 80-21, Section 3, <br />Part B. Corporation further agrees to pay the sum of $285.60 <br />per ERC for water plant capacity charge and $285.60 per ERC for <br />sewer plant capacity charge, as each unit is completed as the <br />future plant capacity charges as provided for in Ordinance <br />80-22, Section 1 or according to the Ordinances in effect at the <br />time of construction. <br />The County will establish separate interest bearing <br />passbook or certificate of deposit accounts for the water system <br />and the sewage system and will deposit all escrow charges paid <br />for any and all connections in this franchise. The fees <br />referenced in this section are subject to the escalation <br />provisions of Section XIV contained herein, using the County <br />factor established in Ordinance 80-21 and 80-22. The fees <br />referenced in this section shall always be reasonable and the <br />County shall have the obligation to prove the reasonableness of <br />any increase in an amount over that which is provided for by the <br />escalation provisions of Section XIV, in any given year. The <br />parties agree that the accounts shall be in the County's name <br />but subject to the escrow instructions, agreeable to the County <br />and Corporation, delivered to a mutually agreed upon bank <br />licensed to do business in Indian River County. <br />Throughout the term of this franchise, the Corporation <br />shall be entitled to any and all interest which shall be paid <br />annually on or before September 30th of each year to the <br />Corporation. The Corporation shall be entitled to an accounting <br />of said interest bearing accounts at any time upon request made <br />by it to the County. <br />-13- <br />