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5. ERL and ERMU will enter into an agreement pursuant to which ERL will <br /> operate and maintain the landfill gas to energy facility, in a cost effective and <br /> efficient manner, based on standard practices in the landfill gas industry; <br /> <br />6. ERMU will enter into separate negotiations with Sherbume County to secure <br /> the financing necessary to build the facility; <br /> <br />7. The parties anticipate that the project will be implemented in two phases. The <br /> first phase will include the design, permitting and construction comracts, <br /> together with a final cost and construction schedule for the project. The <br /> second phase will consist of ERMU's negotiations with Sherburne County for <br /> the financing necessary to accomplish the project. The parties anticipate that <br /> the two phases will proceed simultaneously. <br /> <br />The parties agree to commence negotiation tl~ agreetmnI (or agr~rmnlz) <br />come-plated by the foregoing. While both parties hol~ that tl~ negotiations will <br />result in a definitive agreement or agreements, ERL and ERMU intend that neither <br />party will have any obligation to the other with respect to the transactions descn'bed <br />above unless and until the parties have negotiated mutually acceptable agreements with <br />respect to all aspects of the transactions and until all such agreements are executed by <br />both parties and by any necessary third parties. <br /> <br />Acknowledged and agreed: <br />Dated: _/C~ / ,2000 Dated: f~(~ ~t. Z ~ ,2000 <br /> <br />EL~~-'~I~ MUNICIPAL UTII, ITIES <br /> <br />.) <br /> <br /> <br />