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. ~That Ovasr at~all pay such initi.al and an~ual uambasahip fees and
. co~pensation and all other coats and charges as ara nacessaiy to becane and
_ rem,aiaa a member in good standing of said Water coa~paay. ,
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That Os~ner shall,du sing the teitn of this Agreemeat aad +aunq extension
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~ or reneval thereof, pay,all real and peraonal property t,ax~es and asaeasments
, levied upon or constituting a 11en upcm ttie land directly to the taxing or .
assessing author3ty.
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That time is of the essence of this Agreemeat. ?hat in the event
tbe paymenta he~cein required to be made ar8 not made vithin thisty ~30) days
from the date.upoa which they fall due, then a penalty shall be charged againet ~
and paid by Ovner~in the amount of 1~X of the delinquent paqm~ent; aad, in
addition, deliuquent payments shall bear interest.at the rate of .833'~ per
month. '
In the event that Ovn~er shall be delinquent in any payment or in
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'perform~ance of any act requiaced herein for a peYiod of ninsty (90) days or more,
then Operating Campaay nay, if it ao desires, make the payment or perform the i
amitted act and charge tt~e cost thereof to O~nLer, or ~tera~iaate this Agseement; i
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provided, hawever, that the terminatiaa of this Agreement tor failure.of OWner
to malce the paym~ent or perform the act required shall not reliev~e Own~er from
any .obligations thea accrued an?d shall ndot in aay w~ay a#fect oz diminiah the ~
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liens hereinabove provided ia favor of Operating Comipany. ;
~ • IN ~S3 WgSBBOF, the parties hereto have aet their hands and seala ~
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. t. r-'bl~~~~pd~ qear' first above vritten. .
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