5.4 ERMUSR 10-11-2005 - Laserfiche WebLink

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I ELECTRIC SERVICE AGREEMENT THIS AGREEMENT, made and entered into this day of , 2005, by and between the Elk River Municipal Utilities, a municipal utility organized under the Ilaws of the State of Minnesota ("Municipal Utility"), and TARGET CORPORATION, a Minnesota corporation ("Target"). IWITNESSETH: I WHEREAS, Target is currently contemplating the acquisition of a certain parcel of land depicted on Exhibit A attached hereto (the "Site Plan") consisting of approximately 26.26 acres, which is platted as "Lot 1, Block 1, Elk Path Business Center, 3rd Addition" I (the "Property"); I WHEREAS, Target's current intention is to construct and operate a technology center on the Property (the "Project"); I WHEREAS, Target would not move forward with the acquisition of the Property and the development of the Project unless it receives adequate assurances that Municipal Utility will use its best efforts to assure that certain levels of electric service will be RPavailable to the Project; I WHEREAS, Target has requested that Municipal Utility install a new primary electrical feed for the Project capable of supplying 10.3 megawatts of power to the Project; and IWHEREAS, Municipal Utility has agreed to install the necessary substation and wires to provide the new primary electrical feed as requested by Target. I NOW, THEREFORE, in consideration of the premises and the mutual promises Iand conditions hereinafter contained, it is hereby agreed as follows: 1. Electrical Power. Municipal Utility agrees to use its best efforts to deliver I the following electrical service to the Property by the dates set forth below (collectively, "Electric Power"): I (a) Temporary/Construction Power. Power service for construction of the Project with 300 kilowatt, 400 amps, 3 phase, 4 wire, 480 volt service. This Iservice will be available as of October 3, 2005. 1111) I