HomeMy WebLinkAbout1556EXHIBIT "C"
Developer agrees to pay to the tJtility certain charges ~elative to plant
capacity and mete~ installation and deposit. Utility agrees tt~~t the cha~ges to be
charged to Developer shall be those set fo~th in the tariff of the Utility as amended `
from time to time and approved by the applicable govecnmental agency, or as
mandated by law. Those charges shall be:
Plant Capacity CharRes: Utility has advised Developer that Develope~ will
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Connection (ERC) as a contribution to plant capacity. The uniform cha~ge of the
~tility at the execution of this Agreement is $225.00 for each Equivaient
Residential Connection, as mandated by the Flocida Public Service Commission.
Said amount of $225.00 per ERC shall be due and paid by Developer as Developer
requests meter installation for each such ERC.
Utility hereby agrees to reserve for Developer S00 ERC units of capacity for
a total charge of $112,500.00 to be paid ratably as Developer requests meter
installation for .each ERC. For the purposes of this Ag~eement an ERC shall be
equal to 350 gallons per connection per day.
Guaranteed Revenues: By virtue of the provisions of this agreement, the
Utility has reserved for Develope~ 180 equivalent single-family residential units of
water capacity. The Utility has advised Developer that it requires minimum levels
of guaranteed revenue in order to support investment in plant facilities, as well as
the fixed cost of maintaining such facilities and the unused capacity it represents.
Therefore, Developer agrees to pay, upon the execution of this Agreement, one
year's guaranteed revenue in advance for said !80 ERC units, which amounts to the
sum of $7,128.00. At the end of one year after the date of making said payment,
Developer shall be entitled to a refund of a portion of such advance annual
payment, equal to the number of ERC units actually connected during said 12-
month period times the number of actual whole months that each consumer
occupies a family residential unit shalt have paid actual revenues to the Utility,
times the monthly minimum charges ~sed as a ba;is for the original advance
guaranteed revenue payment. For the purpose of this formula, each connection
shall be analyzed separately to determine the number of months actually connected
and the ref~nd potential. For purposes of this Agreement an ERC shall be equal to
350 ga[lons per connection per day.
At the conclusion of the first year, all ERC units not connected out of the
cumulative total aSreed to be connected shall be established as the number of ERC
units to be subject of a further guaranieed revenue advance for the next succeeding
12-month period, and in like manner, said annual guarante~d revenue advance shall
continue from year to year until such time as all ERC units agreed to be
constructed have in fact been constructed and connected to the system.
The amounts to be paid will be based on the minimum service charge for
such ERC as published in Utility's tariff and approved by the governmental
regulatory agency having jurisdiction over the Utility's rates. The requirement for
the payment of said gua~anieed revenues shall be binding upon Developer, its
successors and assigns or subsequent owners holding by or through Deve~oper.
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