5.2. ERMUSR 02-20-2007 - Laserfiche WebLink

Home Browse Search

Letter Agreement between Great River Energy and Elk River Municipal Utilities for Joint Use of the new Waco Substation Site THIS AGREEMENT is dated this '~-~ day of ~~~"`~~'~`~2007, between Great River Energy (hereinafter referred to as "GRE"), a Minnesota cooperative corporation, and Elk River Municipal Utilities (hereinafter referred to as "ERMU"), a Minnesota municipal corporation, both whom may be referred to individually as "Party", or collectively as "Parties". RECITALS WHEREAS, GRE intends to build a future new bulk transmission substation called Waco Substation (the "Substation"), and WHEREAS, ERMU desires to construct at the Substation site a "Distribution Substation" in the 2007 timeframe for the purpose of ERMU load serving needs, and WHEREAS, GRE is seeking to purchase approximately 5 acres of land for the Substation site, and WHEREAS, GRE and ERMU have agreed to such joint use of the Substation site, and NOW THEREFORE, the Parties agree as follows: GRE shall purchase and retain ownership of approximately five (5) acres of land for the Substation site, to be located at S25, T33N, R27W, Sherburne County, Minnesota. GRE anticipates closing on the land purchase on January 19, 2007. 2. The ERMU owned Distribution Substation shall occupy one (1) acre of land on the SE corner of the five (5) acre Substation site. See the attached plot plan, "Waco Substation, drawing number S274-10D, dated 8-17-06." 3. GRE shall grant to ERMU rights to occupy the Distribution Substation site. ERMU shall have rights to construct, own, operate, maintain, and reconstruct as necessary, facilities applicable to the stated Distribution Substation. The term of this occupation shall coincide with the term of this Agreement, as specified in provision 7, below. 4. In acknowledgement of the occupation arrangement agreement stated in provision 3, above, ERMU shall make cone-time payment to GRE, due within