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( 3) This Savings Guarantee and any achievement of the Annual Guaranteed Savings does not <br /> directly represent nor depend upon the OWNER actual utility bills , and is not a guarantee of a lower utility bill <br /> in <br /> terms of absolute dollars. <br /> ( D) SAVINGS DETERMINATION METHODOLOGY <br /> ( 1 ) The 2000 Federal Energy Management Program ( FEMP ) M &V Guidelines Version 2 . 2 and 2002 <br /> International Performance Measurement and Verification Protocol (" IPMVP" ) are voluntary consensus <br /> documents written by and for technical , procurement and financial personnel in government, commerce , and <br /> industry . The FEMP M &V Guideline and IPMVP provide an overview of current measurement & verification <br /> ( M &V) techniques and set the framework for verifying third-parry-financed energy projects for public <br /> ( including Federal ) and private-sector projects . They dictate that energy (or water) savings are determined <br /> by comparing the energy ( or water) use associated with a facility or certain systems within a facility before <br /> and after the installation of an energy conservation measure ( ECM ) or other measure . The " before" case is <br /> called the baseline . The " after" case is called the post-installation , or performance , period . Baseline and <br /> post-installation energy use measurements or estimates can be constructed using the methods associated <br /> with M &V Options as described in these guidelines . The challenge of M &V is to balance M &V <br /> costs , <br /> accuracy , and repeatability with the value of the ECM (s) or systems being evaluated , and to increase the <br /> potential for greater savings by careful monitoring and reporting . Therefore , the Protocol recommends <br /> Options A ( Partially Measured Retrofit Isolation ) for the measured savings portion or non -stipulated /non - <br /> calculated portion . Attachment 7 contains a detailed summary of both verification methods . <br /> (2 ) THE ANNUAL GUARANTEE REPORT . Commencing upon the anniversary of the Final <br /> Acceptance Date , and upon each anniversary thereafter occurring during the Savings Guarantee Term (subject <br /> to a reasonable amount of preparation time for the COMPANY) , the COMPANY shall deliver an <br /> annual <br /> Guarantee Report to the OWNER . Such annual Guarantee Report shall provide the results and supporting <br /> information of the COMPANY' S calculation of the Annual Energy Cost Savings and compare the Annual <br /> Energy Costs Savings to the Annual Guaranteed Savings . <br /> ( 3 ) This savings guarantee has been structured to comply with provisions of F . S 489 . 145 which <br /> provides that the amount of annually guaranteed savings must CE " I meet or exceed total annual contract <br /> payments made by the county . . . 31 Total annual contract payments , as determined by a separate third party <br /> finance agreement, are inclusive of all costs associated with this program to include all development <br /> and <br /> implementation , financing and interest, bonding , and feasibility study costs . <br /> SECTION 2 . DEFINITIONS : References in this Savings Guarantee to exhibits or other attachments <br /> serves to incorporate by reference such exhibits and other attachments into this Savings Guarantee. <br /> The following initial capitalized terms in this Savings Guarantee have the meaning set forth below. <br /> "Agreement" means the Energy Services Agreement entered into between INDIAN RIVER COUNTY, <br /> FLORIDA and FPL ENERGY SERVICES , INC . <br /> "Annual Energy Cost Savings" means, for each respective annual Guarantee Report period , the <br /> total of ( 1 ) the Measured Load Reduction times the Contract Utility Rates calculated for such period , plus (2 <br />) <br /> the Measured Load Shift times the difference between the applicable On Peak Rate Categories and Off Peak <br /> Rate Categories, calculated for such period , plus ( 3) any Calculated Savings for such period . <br /> "Annual Guaranteed Savings" means such level of Annual Energy Cost Savings to be exactly equal <br /> to the amount of the regularly scheduled payments to be made by the OWNER for the Equipment under the <br /> Agreement for the respective annual Guarantee Report time period , as calculated by the COMPANY. <br /> "Changes" means any deviation , modification , alteration , or change from ( 1 ) OWNER operation of the <br /> Equipment as required in accordance with the Operating Plan and/or (2 ) OWNER use or operation of <br /> its <br /> facilities as observed by the COMPANY at the time of its inspections . Without limitation , changes include any <br /> conditions which may, do, or are reasonably expected to alter the use of any Equipment or to <br />impact the <br /> Indian River County, Florida 2 Indian River County Phase 2 <br /> Phase 11 Rev. 10/09 <br />