2.4 ERMUSR 06-13-2017 - Laserfiche WebLink

Home Browse Search

service boundaries of each Party. NOW THEREFORE, in consideration of the promises exchanged herein, the Parties agree as follows: 1. Description of Exchange: The Parties have agreed to a permanent transfer of the exclusive right and obligation to provide electric service as follows: Transfer to the Cooperative from the Municipal (Area 1): Lots 10- 13 of Block 3 and Lots 1-3 of Block 1 of Mississippi Cove in Otsego Area 1 is further depicted in the map attached as Exhibit B. Transfer to the Municipal from the Cooperative (Area 2): Lots 1-4 of Block 3 and Lots 1-7 of Block 2 of the Villas In Otsego. Area 2 is further depicted in the map attached as Exhibit C. 2. No Transfer of Existing Facilities and Customers: There are no transfers of any electric distribution facilities or equipment, and each Party will retain ownership and use of its respective facilities and equipment. No existing customers will be affected by a change of service provider due to this transfer, based on the existing informal service by exception arrangements presently in place. This transfer will make it easier and more cost-effective to serve customers now, and in the future. 3. Compensation: The Parties agree that no compensation is due for the mutual transfer of service areas. Neither Party shall owe any expense or cost reimbursement to the other in connection with the Exchange, and each Party will pay its own costs and expense associated with this Agreement and the Exchange 4. Reservation of Rights: Except as specifically set forth herein, this Agreement does not modify or limit the legal rights of any Party, or revise any electric service boundaries not expressly set forth herein. 5. No Precedent. The Parties recognize that this Agreement is the result of arms-length negotiations between the Parties and is limited to the Exchange set forth in section 1 above. For any electric service territory matters between the Parties not governed by this Agreement, this 2 39