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Interest on Deposits: Interest shall be paid on all deposits in excess of $20 at the rate <br />established by Minnesota Statutes. ERMU may, at its option, pay the interest at intervals <br />it chooses, but at least annually, by direct payment or as a credit on the customer's <br />account. <br />Submission of and Exceptions to Deposit Requirement: <br />A. Residential Customers. <br />Residential customers may submit the required deposit at the time service is <br />requested, or have the deposit billed with the customer's first bill for services provided. <br />Failure to pay a deposit when billed shall be cause for ERMU to immediately terminate <br />service. ERMU may, in its discretion, waive the required deposit for residential <br />customers if the customer consents to ERMU's collection of credit history data on the <br />customer, the customer's credit score falls above 68 percent probability of non default, <br />and the customer has no history of disconnection for non payment to ERMU, and no <br />history of late payments to ERMU two times in 12 months. <br />B. Commercial and Industrial Customers. <br />All commercial and industrial customers shall submit the required deposit and <br />enter into a service agreement with ERMU at the time service is requested. The <br />customer's application for service shall identify the individual or business entity entering <br />into the service agreement. The service agreement shall be an agreement on the part of <br />this individual or business entity to make payment of all amounts billed by ERMU for <br />electric, water and sewer services, and to be liable for any default or non-payment of <br />amounts billed by ERMU. ERMU may, in its discretion, waive or reduce the required <br />deposit for commercial and industrial customers if a service agreement is executed by the <br />customer, the customer has provided ERMU with sufficient information to allow ERMU <br />to analyze the credit risk of the individual or business entity executing the service <br />agreement, and ERMU, in its sole discretion, determines to waive or reduce the deposit <br />required based on its analysis of credit risk. Waivers and/or reductions in the deposit <br />requirement shall be reserved for raze exceptions when the risk of default is minimal. <br />Adopted 3/9/2010 <br />Revised <br />ce:z~aosso ~a <br />2 <br />