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5.2. ERMUSR 07-13-2010
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5.2. ERMUSR 07-13-2010
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7/19/2010 11:47:17 AM
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7/9/2010 4:05:02 PM
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City Government
type
ERMUSR
date
7/14/2010
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customer contributions, and the year the unit of property was <br />initially purchased. <br />c. Lost Revenue: The Parties acknowledge that no compensation <br />was paid by Elk River Municipal Utilities to Connexus Energy <br />Cooperative for the limited right to serve by exception, and <br />agree that no compensation will be owed by Connexus Energy <br />Cooperative to Elk River Municipal Utilities in the future for <br />lost revenue related to existing or future customers in the <br />exception area. <br />d. Agreement in Writing: The Parties will memorialize their <br />agreement on reasonable compensation terms in writing, and <br />file the agreement with the Commission. <br />e. Resolution: In the event that the Parties cannot agree on <br />reasonable compensation terms within Winery (90) days of the <br />notice referenced in Section 4(a) (above), the issue of <br />compensation will be submitted to the Commission for <br />resolution. <br />f. Late Charges: [IF COMPENSATION IS BEING PAID] If <br />the either party fails to make any payment(s) within thirty (30) <br />days of the date due, additional charges shall become due and <br />payable at a rate of interest per annum equal to the prime rate <br />for the last day of the prior month as reported in the "Wall <br />Street Journal" plus one and one-half percent (1 ''/z%) per <br />month (or the maximum percentage allowed bylaw, whichever <br />is lower) on any unpaid amounts. Any payments shall be <br />applied to outstanding interest first, followed by outstanding <br />charges due prior to any current charges due. <br />5. Reservation of Rights: Except as specifically set forth herein, this <br />Agreement does not modify or limit the legal rights of anyparty. <br />6. No Precedent. The Parties recognize that this Agreement is the <br />result of negotiations between the Parties and that the Agreement <br />does not represent any binding or legal precedent on any party in any <br />other matter. <br />3 <br />
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