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<It <br /> GREAT RIVER <br /> ENERGY') <br /> 17845 East Highway 10 • P.O. Box 800 • Efk River, Minnesota 55330-0800 • 763-441-3121 • Fax 763-241-2366 • www.GreatRiverEnergy.com <br /> October 30, 2003 <br /> Mr. Bryan Adams <br /> General Manager <br /> Elk River Municipal Utilities <br /> 322 King Avenue <br /> Elk River, MN 55330 <br /> Dear Bryan: <br /> The purpose of this letter is to extend, on an "evergreen" basis, the contract <br /> under which Great River Energy (GRE) has purchased the capacity and energy <br /> available from the diesel generation units owned by Elk River Municipal Utilities <br /> (ERMU). <br /> The current contract will expire on October 31, 2003. By returning one copy of <br /> this letter, signed by you, to Betsy Engelking, the following amendments to the <br /> existing agreement will take effect immediately. <br /> 1. The termination date will change to October 31, 2005. With each <br /> succeeding year the termination date will be incremented by one year. <br /> Either ERMU or GRE may provide the other party notice, no later than <br /> April 1 of a given year, terminating the contract at the termination date <br /> during that given year. <br /> 2. ERMU will perform a MAPP annual URGE test and GRE will pay ERMU <br /> 110 percent of the actual production cost to perform the test. <br /> 3. GRE will pay ERMU a monthly capacity payment equal to the sum of the <br /> individual unit URGE test ratings times the capacity charge rate ($2.75/kW <br /> month). Each annual updated unit URGE test rating will become effective <br /> during the MAPP URGE reporting period of November through the <br /> following October. <br /> A Touchstone Energy"Cooperative 4r)f <br />