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( 3) This Savings Guarantee and any achievement of the Annual Guaranteed Savings does not directly represent nor depend upon the OWNER actual utility bills , and is not a guarantee of a lower utility bill in terms of absolute dollars . ( D ) SAVINGS DETERMINATION METHODOLOGY ( 1 ) The 2000 Federal Energy Management Program ( FEMP ) M &V Guidelines Version 2 . 2 and 2002 International Performance Measurement and Verification Protocol (" IPMVP" ) are voluntary consensus documents written by and for technical , procurement and financial personnel in government , commerce , and industry . The FEMP M &V Guideline and IPMVP provide an overview of current measurement & verification ( M &V) techniques and set the framework for verifying third -party-financed energy projects for public ( including Federal ) and private-sector projects . They dictate that energy ( or water) savings are determined by comparing the energy ( or water) use associated with a facility or certain systems within a facility before and after the installation of an energy conservation measure ( ECM ) or other measure . The " before" case is called the baseline . The " after" case is called the post-installation , or performance , period . Baseline and post-installation energy use measurements or estimates can be constructed using the methods associated with M &V Options as described in these guidelines . The challenge of M &V is to balance M &V costs , accuracy , and repeatability with the value of the ECM ( s ) or systems being evaluated , and to increase the potential for greater savings by careful monitoring and reporting . Therefore , the Protocol recommends Options A ( Partially Measured Retrofit Isolation ) for the measured savings portion or non -stipulated/non- calculated portion . Attachment 7 contains a detailed summary of both verification methods . (2 ) THE ANNUAL GUARANTEE REPORT . Commencing upon the anniversary of the Final Acceptance Date , and upon each anniversary thereafter occurring during the Savings Guarantee Term ( subject to a reasonable amount of preparation time for the COMPANY) , the COMPANY shall deliver an annual Guarantee Report to the OWNER . Such annual Guarantee Report shall provide the results and supporting information of the COMPANY S calculation of the Annual Energy Cost Savings and compare the Annual Energy Costs Savings to the Annual Guaranteed Savings . ( 3 ) This savings guarantee has been structured to comply with provisions of Section 489 . 145 , Florida Statutes . Total annual contract payments , as determined by a separate third party finance agreement , are inclusive of all costs associated with this program to include all development and implementation , financing and interest, bonding , and feasibility study costs . SECTION 2 . DEFINITIONS : References in this Savings Guarantee to exhibits or other attachments serves to incorporate by reference such exhibits and other attachments into this Savings Guarantee . The following initial capitalized terms in this Savings Guarantee have the meaning set forth below . "Agreement" means the Master Agreement for Demand Side Management and Energy Services (State Governmental Entities) entered into between INDIAN RIVER COUNTY, FLORIDA and FPL ENERGY SERVICES , INC on August 19 , 2008 . "Annual Energy Cost Savings" means , for each respective annual Guarantee Report period , the total of ( 1 ) the Measured Load Reduction times the Contract Utility Rates calculated for such period , plus ( 2 ) the Measured Load Shift times the difference between the applicable On Peak Rate Categories and Off Peak Rate Categories, calculated for such period , plus ( 3) any Calculated Savings for such period . "Annual Guaranteed Savings means such level of Annual Energy Cost Savings to be exactly equal to the amount of the regularly scheduled payments to be made by the OWNER for the Equipment under the Agreement for the respective annual Guarantee Report time period , as calculated by the COMPANY . "Changes" means any deviation , modification , alteration , or change from ( 1 ) OWNER operation of the Equipment as required in accordance with the Operating Plan and/or ( 2 ) OWNER use or operation of its facilities as observed by the COMPANY at the time of its inspections . Without limitation , changes include any conditions which may , do , or are reasonably expected to alter the use of any Equipment or to impact the Indian River County , Florida 2 Indian River County Phase 1 — -- Rev . 1 /05/09 Phase I