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- 0 00 h any and all connections in this franchise. The fees referenced in this section are subject to the escalation by the County. 3. Throughout the term of this franchise, the Utility shall -be entitled to any and all interest which shall be paid annually on or before September 30th of each year to the Utility. The Utility shall be entitled to an accounting of the interest bearing account on September 30th of each year. 4. Should the County at any time provide a wastewater collection system and furnish wastewater services to individual customers within the franchise territory, the sums of money remaining in said account consisting of impact fees shall become the absolute property of the County and the Utility shall have no rights thereto. a) The County shall have the right to purchase the Utility's wastewater plant at Utility's original construction cost, land cost, plus costs associated with capital additions and expansions to the system less three and one-half percent (3-1/2%) depreciation per year. Depreciation on the system shall be calculated to start at the time the wastewater treatment plant is issued a permit for operation. Upon acquisition of the wastewater plant and appurtenant real estate, the County would then own the entire wastewater system and would terminate this franchise and provide wastewater utility service to the franchise territory. All accumulated escrow fees would vest in the County. b) In the event of an acquisition by the County, or the utilization of the County's own plants, the County shall receive the wastewater collection system free of cost and in good repair, wear and tear excepted. The Utility agrees to grant to the County any easements necessary to connect the wastewater system to the County's wastewater systems without charge. The Utility shall pay all escrowed impact fees and any deficiencies upon acquisition or upon connection to County's own plants. c) If in the event the County determines that it will not exercise its option to purchase the system under item #4(a) within seven (7) years, escrowed impact fees shall become part of the renewal and replacement fund and may be used as described within Section XVII, RENEWAL & REPLACEMENT ACCOUNT. If at any time thereafter the County takes possession or makes use of the utility systems, all escrowed funds collected will vest to the County and those funds which have been expended or an equal amount would be deducted from any purchase price. n r+nmT/11.T V17TT RENEWAL & REPLACEMENT ACCOUNT Two and one half percent (2-1/2%) of the gross receipts of thF Utility shall be placed in an interest bearing renewal and replacement account for purposes of renewal and/or replacement of the capital assets of the wastewater system of the Utility. Additionally, the Utility shall initially fund said account with two thousand dollars ($2,000) which will also be reserved for capital maintenance items. Interest shall 10