1983-107 - Laserfiche WebLink

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C-1 (3) In the event of acquisition of off-site lines by the County, or the utilization of the County's own plants. the County shall receive the water distribution and/or wastewater collection system free of cost and in good repair, wear and tear excepted. The Utility agrees to grant to 40 the County any easements necessary to connect the water and/or wastewater system to the County's water/wastewater systems without charge. The Utility stall pay all required fees upon acquisition or upon connection to County's own plants. Upon connection to County's system, Utility my utilize any escrowed meanies for the purpose of payment to the County for •i impact or connection fees. SECTION XVII FONINMI, & REPLACEMM PCCCiifiT1' Two and one half percent (2'h$) of the gross receipts of the Utility shall be placed in an interest bearing renewal and replacement account for purposes of renewal and/or replacement of the capit.^1 assets of the water and/or wastewater system of the Utility. Additionally, the utility shall initially fund said account with fifteen hundred dollars ($1,500) which will also be reserved for capital maintenance items. Interest shall accumulate in said account until the account reaches five thousand dollars ($5,000); thereafter anterest shall be paid to the Utility annually. Said funds shall be used as a sinking fund and applied only for renewal and/or replacement of the water and/or wastewater system by the Utility as the need arises; the percentage required to be placed in the renewal and replacement account may be amended after review by the County as necessary to maintain a sufficient account balance taking into account the general condition of the system. The County is granted the right to make necessary repairs using said funds in the event of default on the part of the Utility in maintaining the quality standards established herein. In the event the County exercises its rights under (2) or (3) above, said fund shall vest in the County. in the event that the County pL chases the corporation's utility system pursuant to the previsions of this franchise as stated above, then any funds in said renewal and replacement account shall vest in the County. �.m a�af u� rr•aixr► i r i INSURANCE The Utility shall at all times maintain public liability and property damage insurance in such amounts as set forth in Exhibit "C" attach hereto and incorporated herein by reference. The Utility shall cause the County to be duly notified by the insurer in the event of any modifications or deletions of the insurance as set forth in said Exhibit "C". said amounts shall be adjusted by the Utility, as shall be required from time to time by the Hoard in accordance with good business practices as determined by safe business standards as established by the 12