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Any guaranteed revenue payments mad~ pucsuant to the provisions of
this ag~eement shall be ~eceived by the Utllity and t~eated on Its books and records
as ~evenue Income, added to the Utllity's gross ~evenues and shall not be considered
contributions-ln-ald-of-construction. '
Plant capacity allotrt~ent assigned to Developer by virtue of
Developer's payment ot gua~anteed revenues cannot, and shall not, be assigned,
transferred, leased, encumbered, or disposed of in any manner by Qevelop~c, uNess:
(1) Developer has obtained the written consent of the Utility to such assignment,
sale or disposition, or (2) The assignment is in direct connection with a bona-fide
sale of the Prope~ty to which the plant capacity ~eserve relates, and the Utility is
notified in writing of such assignment and has consented to same. The Utility will ,
not unreasonably withhold its consent to an assignment. In no instance shall any
sale or assignment of plant capacity reserve be made by Developer for a
consideration which is moce than that amount actually paid by Developer to reserve
the capacity.
DEVELOPER
WITNESSES:
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THE SANDS LAKE VIEW DEVELOPMENT,
a Florida Partnership,
By: THE SANDS LAKE VIEW DEVELOPMENT
CORPORATION (General Partner of The
Sands L View Development)
.
By: . ~A~H
. As its:
By: DoDevCo SOUTH FLORIDA PROPERTIES,
A Florida Partnership (General Partner of
The Sands Lake View Development)
By: W. THOMAS FLORIDA PROPERTIES, INC.
(General Partner of CoDevCo South
Florida Properties)
By; --, ~ ri' \-~'`
As its:
UTILITY
NORTH NUTCHINSON SERVICES,
A Florida Partnership
By: NORTH HUTCHISON ISLAND WATER
COMPANY (A General Partner of North
Huichi Services)
LJaC '
By: O ~. b~ ~..
As Its: ~y ~~ ~
(CORPORATE SEA[.)
By: CoDevCo FLORIDA SERV[CES,
A Florida Partnership (A General Partner
of North Hutchinson Services)
By: W. T. WATER PROPERTIES, INC.,
A Florida Corporation (A General Partner
of CoDevCo Flor'da Services)
By: ~(I'
AS tts:
2 ~,~,
e, ;~x 351 ~aGF 1539