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• Section .4. Initial Franchise Term . and Renewal. .The: :initial term ..of..this . Franchise Agreement and the Franchise granted hereunder shall::be fora .period- of Thirty (30) years commencing on the •Effective Date: INDIAN. RIVER::SHORES .shell have the opt on to renegotiate the terms of the Franchise Agreement before, the:fifteenth (15th) yearly :anniversary date from the. Effective Date or:; to.:terminate :the Franchise Agreement. on the fifteenth (15th) anniversary date. INDIAN :RIVER. SHORES should it desire to renegotiate or terminate, shall give Four. (4) years :not Ce :before :the fifteenth (1:5th) anniversary date otherwise the Franchise shall continue.: uninterrupted under the terms and conditions of this Agreement This Franchise:Agreement and the:Franchise granted hereunder shall automatically renew for. addifonal.: Fifteen: (15) year terms un esseither::party shall send written notice to the: .other party_:at.least Four (4) years prior tq. the date of expiration of the initial term and thereafter.:. such Subsequent term as the:case maybe. In no event shall this Franchise Agreement or the .Franchise terminate prior. IC expiration of any Fifteen (15) year period;: except as otherWise::.provided herein for;default. S ection. 5. Additional Customers. VERO B.BACH.; may. provide, water, wastewater, andlo:r> reuse :Water utility services to new .customers outside.: of.:.those : areas of the Service Area served by VERO BEACH as of theHEffective: Date :of::this: Franchise Agreement only upon request of such new customers and :after appropriate approvals byINDIAN RIVER SHORES. S ection 6. Utility Rates and. Fees. The rates for water, wastewater, and reuse water utility _services.established and .charged by VER. BEACH for customers within the Service Area shall be no:.greater than the .rates forsuch;iitility services as: published by the Indian River County Department of Utility Servibes°or.itssuccessor:(hereinafter "IRC. Utilities"): for the various rate •classifications served::'Likewise,' ariyand allother fees .and charges established and imposed by VERO BEACH slall'correspond, to such fees and charges assessed by IRC Utilities and shall be no greater.thari..those imposed by IRC U tilities in each rate class cation. All fees and :charges. related:to fire :hydrants, if any, stall: also be in conformance with .such fees or charges irnposed:;by: fndian: River County orlRC Utilities. The foregoing rates fees, andcharges shall be adopted and:applied to each °customer's utility billing commencing with :the:.:customer's: first utility billthat is pioduced subsequent to Thirty (30) days from the Effective Date;::The:rates, fees,:and other :charges assessed shall be adjusted by VERO'BEACH: within a reasonable time after: .any adjustment by IRC Utilities of its corresponding rates charges, and fees. VERO BEACH shall provide the Town Manager of. INDIAN RIVER.SHORES for review and:comment any proposed rate or fee adjustments no less than Thirty (30):days before the adjustment: is scheduled to go before .that VERO BEACH City Council for consideration.. Section 7 Developer Agreements VERO BEACH shall have the authority to enter into.'abreernents with developers of real estate projects and other consumers within INDIAN RIVER SHORES. Developer agreements entered into by VERO BEACH shall be fair, just, and non-discriminatory, and generally have the same content as developer agreements for projects within the corporate limits of VERO BEACH and shall require • Page 3 of.9 95