Loading...
HomeMy WebLinkAboutYankee Lake Regional Water Treatment FacilityCOUNTY MANAGER'S OFFICE March 24, 2009 Mr. John Bush, Mayor Winter Springs City Hall 1126 E. State Road 434 Winter Springs, Florida 32708 Subject: Yankee Lake Regional Water Treatment Facility Dear Mayor Bush: SEMINOLE C.OLINTY FLORIDA'S NATURAL CHOICE ~~~"l;~ ~~ w, ~' ~ ~ ~~~~~ CI'iY C)i'~ VWI"dTFF? SPRINGS OFFICE OF Tt-1G CITY CLERK M/cM/PH/ As discussed in the March 17th Mayors and Managers meeting, attached are the most current documents for the Yankee Lake Regional Water Treatment Facility for distribution to the Seminole Cities. These include the: • Draft Yankee Lake Memorandum of Understanding for Development of Project Agreement • Draft Yankee Lake Regional Wholesale Pofable Water Supply Agreement • Provisions and Next Steps Summary These drafts are a culmination of the successful progress the Yankee Lake regional project has made over the past 24 months. This progress has put Seminole County in a favorable position to move forward with this facility with our project Participants. The project has a surface water Consumptive Use Permit pending award after a successful Chapter 120 hearing on our proposed Phase 1 withdrawal of 5.5 MGD. The strong recommended order, in Seminole County's favor, establishes this project with less regulatory risk moving forward for our initial phase as well as subsequent regional phases. This results in savings of time and money as we move forward towards this regional vision. This project has an FDEP permitted regional intake structure on the river with a nominal capacity of 50 MGD. This was done successfully due to the unique Yankee Lake site being able to recess the intake within aman-made canal. The US Army Corps of Engineers permit for this intake is near completion and is expected in the next 60 days. Due to this progress, as well as the SJRWMD 2013 Central Florida Coordination Area (CFCA) requirements, the Yankee Lake regional project is rapidly moving forward with the attached draft agreements. These draft agreements are being used as the basis for beginning negotiations among the Project Participants as to a final MOU by June 15, 2009 and a final potable water supply agreement for execution by October 1, 2009. 1101 EAST FIRST STREET SANFORD FL 32771-1468 TELEPHONE (407) 665-7219 FAX (407) 665-7958 Upon receipt from all Participants of the executed Water Supply Agreement, Capacity Reservation Schedule and applicable Project Development Charges by October 1, 2009, Seminole County will commence Consumptive Use permitting with Project Participants and Preliminary (20% Level) Design for Phase 1 of the Yankee Lake Regional Water Supply Facility including the primary transmission system. Although we all face difficult financial times, the need to plan and prepare for the future of our communities is equally as real. Seminole County remains committed to the participation of the Seminole Cities in this important regional project. In an effort to balance Seminole's efforts to effectively move ahead with this Project, while giving the Participants time to evaluate and compare this Project with their other options for AWS, we are pleased to offer the City of Winter Springs the same Memorandum of Understanding that is being offered to other Participants. This affords the City the opportunity to participate in this Project with limited financial exposure up until October 1; if you choose to execute the Yankee Lake Regional Water Supply Agreement by that date, your payment for the MOU will be credited toward your Project Development Charge for the Water Supply Agreement. We look forward to continuing this important regional project with you. Please do not hesitate to contact me if you have any questions. Sincerely, Bob Dallari, Chairman Board of County Commissioners Seminole County Government Enclosures 1 2 3 4 5 6 7 8 9 10 11 12 13 14 IS 16 17 18 19 20 21 22 23 24 25 26 27 28 YANKEE LAKE MEMORANDUM OF UNDERSTANDING FOR DEVELOPMENT OF PROJECT AGREEMENT THIS YANKEE LAKE MEMORANDUM OF UNDERSTANDING FOR DEVELOPMENT OF PROJECT AGREEMENT (~~Agreement") is made and entered into this day of 2009, by and between SEMINOLE COUNTY, a political subdivision of the State of Florida, whose address is Seminole County Services Building, 1101 East First Street, Sanford, Florida 32771, hereinafter referred to as ~~SEMINOLE", the CITY OF APOPKA, a Florida municipal corporation, whose mailing address is Post Office Box 1229, Apopka, Florida 32704-1229, the CITY OF DELAND, a Florida municipal corporation, whose address is 120 South Florida Avenue, Deland, Florida 32720, the CITY OF DELTONA, a Florida municipal corporation, whose address is 2345 Providence Avenue, Deltona, Florida 32725, the CITY OF EUSTIS, a Florida municipal corporation, whose mailing address is Post Office Drawer, Eustis, Florida 32727-0068, the CITY OF LONGWOOD, a Florida municipal corporation, whose address is 175 West Warren Avenue, Longwood, Florida 32750, the CITY OF LAKE MARY, a Florida municipal corporation, whose address is 100 North Country Club Road, Lake Mary, Florida 32796, the CITY OF ORANGE CITY, a Florida municipal corporation, whose address is 229 East Graves Avenue, Orange City, Florida 32763, the CITY OF OVIEDO, a Florida municipal corporation, whose mailing address is Post Office Box 159, Oviedo, Florida 32765, the CITY OF SANFORD, a Florida municipal corporation, whose mailing address is Post Office Box 1778, Sanford, Florida 32772- 1778, COUNTY of VOLUSIA, a political subdivision of the State of Florida, whose address is Thomas C. Kelly Administrative Center, 123 1 29 West Indiana Avenue, Deland, Florida, 32720 and the CITY OF WINTER 30 PARK, a Florida municipal corporation, whose address is 901 Park 31 Avenue South, Winter Park, Florida 32789-4386, each of which shall be 32 a purchaser of wholesale potable water from SEMINOLE and hereinafter 33 collectively referred to as 'Participants". 34 W I T N E S S E T H: 35 WHEREAS, the parties to this Agreement are all local government 36 potable water suppliers located within the Central Florida 37 Coordination Area (CFCA); and 38 WHEREAS, the parties are all subject to the CFCA Rule providing 39 that no new permits for groundwater withdrawals will be granted after 40 year 2013, and that the parties instead must develop alternative water 41 supplies (AWS) to meet future water needs; and 42 WHEREAS, the parties are all desirous of securing for their 43 citizens and customers a dependable long-term alternative supply of 44 potable water that will meet the timing and other regulatory 45 requirements of the St. Johns River Water Management District, and 46 that will meet the projected growth demands of their communities, in 47 the most cost-effective manner possible; and 48 WHEREAS, the Participants have been considering several proposed 49 alternative water supply projects that offer potential solutions to 50 their alternative water supply needs; and 51 WHEREAS, SEMINOLE COUNTY's project for the development of the 52 Yankee Lake Regional Water Supply Facility is significantly ahead of 53 all other projects in terms of site acquisition; concept and 54 engineering design and permitting and financial analysis; and 2 55 WHEREAS, SEMINOLE is expecting to obtain a surface water 56 Consumptive Use Permit for an initial 5.5 MGD phase of the Yankee Lake 57 Facility in April, 2009, which phase will include an over-sized intake 58 for a regional water facility; and 59 WHEREAS, SEMINOLE is moving forward with its Yankee Lake Project, 60 both for purposes of trying to meet the CFCA 2013 deadline, and for 61 purposes of making application for SJRWMD grant funds for the Project; 62 and 63 WHEREAS, representatives of the Participants have been involved 64 in discussions with SEMINOLE for more than eighteen months regarding 65 participation in a regional Yankee Lake Project; and 66 WHEREAS, SEMINOLE has prepared and submitted to the Participants 67 a draft Water Supply Agreement with corresponding Capacity Reservation 68 Schedule, which Agreement will require the payment of Project 69 Development Charges; and 70 WHEREAS, upon receipt from all Participants of an executed Water 71 Supply Agreement, Capacity Reservation Schedule and applicable Project 72 Development Charge by October 1, 2009, SEMINOLE will commence 73 Consumptive Use Permitting with the Project Participants and 74 Preliminary (20~ Level) Design Plans for Phase 1 of the Yankee Lake 75 Regional Water Supply Facility and Primary Transmission System; and 76 WHEREAS, the Participants agree that it is their best interest 77 for SEMINOLE to continue to advance development of the Yankee Lake 78 Project, and they desire to preserve the option, until October 1, 79 2009, to become Participants in the Yankee Lake Water Supply 80 Agreement; but at this time, they desire to limit their financial 3 8l commitment to the Yankee Lake Project and to retain the flexibility to 82 continue to explore and possibly ultimately elect a different 83 alternative supply solution; and 84 WHEREAS, the Participants recognize the progress SEMINOLE has 85 already achieved in the development of the Yankee Lake Water Supply 86 Facility, including, but not limited to the following: (a) SEMINOLE 87 has acquired the Yankee Lake site, a 2,750 acre tract of land adjacent 88 to the St. Johns River; (b) SEMINOLE has implemented an infrastructure 89 delivery program for immediate commencement of implementation for 90 expedited delivery of a regional Yankee Lake Project; and (c) 91 SEMINOLE has undertaken the study, and conceptual design for the 92 construction of a reverse osmosis water treatment facility for potable 93 water supply at the Yankee Lake site, herein referred to as the Yankee 94 Lake Regional Water Treatment Facility, or "Facility."; (d) SEMINOLE 95 is obtaining the required permit from the Army Corps of Engineers for 96 the regional intake structure for Yankee Lake; (e) SEMINOLE has 97 obtained the Environmental Resource Permit (ERP) from the Department 98 of Environmental Protection for the regional intake structure for 99 Yankee Lake; (f) SEMINOLE has obtained a favorable Recommended Order 100 for its 5.5 MGD CUP for Yankee Lake for re-use augmentation and 101 potable purposes; (g) SEMINOLE has prepared plans and is ready to go 102 out to bid for the initial phase of the Project. 103 WHEREAS, the Participants are willing to partially underwrite the 104 expenses that have been, and will be incurred by SEMINOLE, with 105 respect to development and presentation to the parties of optional 4 106 funding scenarios; options for development of a transmission system 107 plan; and, development of a final water supply agreement; and 108 WHEREAS, the Participants desire to have SEMINOLE develop l09 financial data and pro forma scenarios to enable them to evaluate 110 their potential cost of participation in the Yankee Lake Project; and 111 WHEREAS, SEMINOLE needs to receive from each Participant its best ]12 judgment of its thirty-year water subscription in order for SEMINOLE 113 to be able develop the referenced financial data and pro forma 114 scenarios; and 115 WHEREAS, SEMINOLE is also in need of the best information 116 available from each Participant relevant to the Primary Transmission 117 System and Points of Delivery; and 1]$ WHEREAS, the goal of this Agreement is to provide bridge funding 119 to SEMINOLE to enable it to continue development of a final agreement 120 and Project planning. 121 NOW, THEREFORE, in consideration of the foregoing premises and ]22 the mutual covenants and agreements hereafter set forth, SEMINOLE and 123 the Participants intending to be legally bound hereby agree as 124 follows: 125 Section 1. Preamble. The foregoing statements are true and 126 correct and form a material part of this Agreement, and upon which 127 each of the parties have relied. 12$ Section 2. Authority. This Agreement is entered under the 129 following authorities: 130 (a) (For counties) The counties enter into this Agreement under 13l the authority of its home rule powers, as well as Sections 5 132 125.01(1) (k)1, 125.01(1) (p), 125.01(3) (a), and ar~~.0, 133 Florida Statutes, which authorize counties to enter into 134 agreements with other public agencies and private 135 corporations to accomplish goals for providing water to 136 their customers. 137 (b) (For municipalities) The municipalities enter into this 138 Agreement under the authority of Sections 163.01, 139 166.021(1), 180.02, and 180.06(3), Florida Statutes, which 140 authorize municipalities to enter into agreements to 141 further their efforts to provide water to their residents 142 and customers. 143 Section 3. Party Responsibilities. 144 (a) Participants. Participants each agree to the following 145 actions: 146 1. Deliver to SEMINOLE their most accurate thirty year 147 water subscription, no later than March 30, 2009. 148 2. Participants shall fund this agreement pursuant to 149 Section 4. 150 3. To identify major issues for resolution in the draft 151 Yankee Lake Water Supply Agreement no later than July 1, 152 2009. 153 4. To hold necessary briefings or workshops with their 154 respective governing boards concerning the evaluation and 155 approval, before October 1, 2009, of a final Yankee Lake 156 Water Supply Agreement. 6 157 5. Present this Agreement to its governing board for 158 approval before June 15, 2009. 159 6. Regularly meet and negotiate in good faith with SEMINOLE 160 concerning terms and conditions of a final Yankee Lake 161 Water Supply Agreement, with an objective of execution by 162 October 1, 2009. 163 7. Notify SEMINOLE at the earliest possible date upon 164 reaching a decision to opt out of participation in the 165 Yankee Lake Project. 166 (b) SEMINOLE. SEMINOLE agrees to the following actions: 167 1. After receipt of up-dated Facility capacity reservations 168 from all Participants, to develop and to deliver to each 169 Participant it's individual pro forma Project Development 170 Charge amount. 171 2. Develop pro forma water rates under multiple scenarios. 172 3. Develop preliminary transmission system planning and 173 routing based on input received from Participants. 174 4. Apply for construction grant funding from the SJRWMD for 175 the Yankee Lake Project, the receipt of which would be 176 devoted by SEMINOLE to buying down project development 177 costs for the benefit of all Participants who execute a 178 final Yankee Lake Water Supply Agreement. 179 5. Advise Participants of SEMINOLE's proposed rate of return 180 for the Yankee Lake Water Supply Agreement. 181 6. To hold necessary briefings or workshops with the 182 Seminole County Board of County Commissioners concerning 7 183 the evaluation and approval, before October 1, 2009, of a 184 final Yankee Lake Water Supply Agreement. 185 7. Present this Agreement to its governing board for 186 approval before June 15, 2009. 187 8. Regularly meet and negotiate in good faith with 188 Participants, either individually or collectively, 189 concerning terms and conditions of a final Yankee Lake 190 Water Supply Agreement, with the objective of execution 191 by October 1, 2009. 192 Section 4. Funding. For purposes of funding the undertakings 193 contained herein, Participants have been included in one of three 194 classes, based on the amount of their respective Capacity Reservation 1 QS c.-ho~a„ l o 196 (a) Class A Participants ( 1 MGD to 4 MGD Reservation), 197 $75,000.00. 198 (b) Class B Participants ( 5 MGD to 15 MGD Reservation), 199 sloo,ooo.oo. 200 Participants, by execution of this Agreement, agree to deliver 201 the payment corresponding to their foregoing classification, in a 202 single lump-sum amount to SEMINOLE, within ten days after 203 execution hereof. The foregoing payments are non-refundable, 204 irrespective of whether an individual Participant executes a 205 final Yankee Lake Water Supply Agreement. The Participants 206 acknowledge that the payment provided for herein is not the 207 Project Development Charge referenced in the draft Yankee Lake 208 Water Supply Agreement; however, any Participant who executes a 8 209 final Yankee Lake Water Supply Agreement and pays its Project 210 Development Charge as provided in that Agreement, on or before 211 October 1, 2009, shall receive a credit of the foregoing payment 212 toward the amount of such Project Development Charge. 213 Section 5. Milestones. The parties agree to work in good faith 214 and to give their best efforts toward the accomplishment of the 215 following milestones in order to finalize the Yankee Lake Water Supply 216 Agreement before October 1, 2009: 217 (a) Submit Capacity Reservation Schedules to Seminole no 21$ later than March 30, 2009. 2l9 (b) Participate in Pro Forma review workshop scheduled for 220 May 15, 2009. 221 (c) Execute and submit to SEMINOLE this MOU and applicable 222 payment by June 15, 2009. 223 Section 6. Relationship of this Agreement to Yankee Lake Water 224 Supply Agreement. Execution of this Agreement, and payment of each 225 Participant's appropriate fee, is a pre-condition to participation in 226 the Yankee Lake Water Supply Agreement. Notwithstanding that, 227 execution of this Agreement creates no obligation on the part of 228 Participant to execute the Yankee Lake Water Supply Agreement, and any 229 Participant may choose to opt out of participation in the Yankee Lake 230 Water Supply Agreement. There shall be no partial or full refunds of 231 the payments made pursuant to this Agreement in the event any 232 Participant elects to opt-out of participation in the Yankee Lake 233 Water Supply Agreement. 9 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 25l 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 Section 7. Entire Agreement. This Agreement represents the entire agreement of the parties with respect to the undertakings described herein and supersedes all prior contracts, agreements or understandings with respect to such undertakings, whether oral or written, except to the extent such agreements are specifically referenced herein. Each party agrees that the other party (and its agents and representatives) has not made, and has not relied upon, any representation, warranty, covenant or agreement relating to the undertakings contemplated hereunder other than those expressly set forth herein. IN WITNESS WHEREOF, the parties to this YLRWSA have caused their names to be affixed hereto by the proper officers thereof. ATTEST: CITY OF APOPKA JANICE G. GOEBEL, Clerk ATTEST: JULIE HENNESSY, Clerk ATTEST: By: Faith G. Miller, Clerk ATTEST: JOHN H. LAND, Mayor Date: CITY OF DELAND By: ROBERT APGAR, Mayor Date: CITY OF DELTONA By: DENNIS MULDER, Mayor Date: CITY OF EUSTIS By: SCOTT ALES, Mayor JUDY ROBERTS, Clerk 10 274 275 276 277 ATTEST: 278 279 280 281 CAROL A. FOSTER, Clerk 282 283 284 285 286 ATTEST: 287 288 289 SARAH M. MIRUS, Clerk 290 291 292 293 294 ATTEST: 295 296 297 DEBBIE RENNER, Clerk 298 299 300 301 302 ATTEST: 303 304 305 BARBARA BARBOUR, Clerk 306 307 308 309 310 ATTEST: 31l 312 313 JANET R. DOUGHERTY, Clerk 314 315 316 317 318 ATTEST: 319 320 321 JAMES T. DINNEEN, Clerk 322 323 324 325 Date: CITY OF LAKE MARY By: DAVID MEALOR, Mayor Date: CITY OF LONGWOOD By: BRIAN D. SACKETT, Mayor Date: CITY OF ORANGE CITY By: HARLEM STRICKLAND, Mayor Date: CITY OF OVIEDO By: THOMAS G. WALTERS, Mayor Date: CITY OF SANFORD By: LINDA KUHN, Mayor Date: COUNTY OF VOLUSIA, FLORIDA By FRANK BRUNO, JR., Chairman Date: 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 ATTEST: CINDY BONHAM, Clerk CITY OF WINTER PARK By: Date: DAVID C. STRONG, Mayor (Balance of this page intentionally blank; signatory page continues] 12 346 347 ATTEST: 348 349 350 MARYANNE MORSE 351 Clerk to the Board of 352 County Commissioners of 353 Seminole County, Florida. 354 355 For the use and reliance 356 of Seminole County only. 357 358 Approved as to form and 359 legal sufficiency. 360 361 362 County Attorney 363 364 365 MGM 366 03/18/09 367 P:\Users\MGM\YANKEE LAKE MOU Delivery.doc 368 BOARD OF COUNTY COMMISSIONERS SEMINOLE COUNTY, FLORIDA By: BOB DALLARI, Chairman Date: As authorized for execution by the Board of County Commissioners at its , 2009, regular meeting. 13 YANKEE LAKE REGIONAL WHOLESALE POTABLE WATER SUPPLY AGREEMENT [DRAFT _Tuesday, Feb. 17, 2009]-- YANKEE LAKE REGIONAL WHOLESALE POTABLE WATER SUPPLY AGREEMENT Table of Contents Section 1. Preamble ............................................... 7 Section 2. Structure of Agreement ................................. 8 Section 3. Term of Agreement ..................................... 10 Section 4. Goals to be Achieved by Agreement ..................... 10 Section 5. Definitions . .......................................... 12 Section 6. Roles and Responsibilities of Parties ................. 17 Section 7. Nature of Project ..................................... 24 Section 8. Project Development and Financing . .................... 25 Section 9. Certification of Available Capacity ................... 28 Section 10. "Take or Pay" Water Quantities .......................... 29 Section 11. Seminole/Yankee Lake Water Rates ........................ 33 SECTION 12. Additional Representations, Warranties and Covenants of SEMINOLE ............................................................ 37 SECTION 13. Additional Representations, Warranties and Covenants of the PARTICIPANTS .................................................... 38 Section 14. Participant Financing ................................... 41 Section 15. Billing and Payment ..................................... 42 Section 16. Metering Equipment ...................................... 44 Section 17. Joint Funding of Additional Capital Improvements........ 45 Section 18..Re-Rating Yankee Lake Water System ...................... 45 Section 19. Changes in Regulations .................................. 46 Section 20. Permits ................................................. 46 Section 21. Contingencies ........................................... 48 Section 22. Water Supply Conditions ................................. 48 Section 23. Continuity of Service ................................... 98 Section 29. Emergency / Maintenance Usage by Participant............ 50 Section 25. Water Quality ........................................... 50 Section 26. Resale to Other Water Suppliers ......................... 51 Section 27. Water System Planning and Cooperation ................... 51 Section 28. Water Resource Conservation ............................. 52 Section 29. Water Curtailment and Protection of Water System........ 53 Section 30. Dispute Resolution ...................................... 55 Section 31. Default and Remedy ...................................... 57 Section 32. No Additional Waiver Implied ............................ 58 Section 33. Indemnification ......................................... 58 Section 34. Insurance ............................................... 59 Section 35. Assignment .............................................. 59 Section 36. Successors and Assigns .................................. 60 Section 37. Disclaimer of Third-Party Beneficiaries ................. 60 Section 38. Relationship of Parties ................................. 60 Section 39. Initial Implementation .................................. 61 Section 40. Notices ................................................. 61 Section 41. Compliance With Laws and Regulations..........._......... 62 Section 42. Governing Law; Jurisdiction and Specific Performance.... 62 Section 93. Counterparts ............................................ 62 Section 44. Severability ............................................ 63 Section 45. Entire Agreement; Amendment ............................. 64 Yankee Lake Regional Water Potable Water Supply Agreement Page 1 of 73 Section 46. Incorporation of Exhibits and Schedules ................. 64 Section 47. Interpretation and Reliance ............................. 64 Section 48. Headings; Table of Contents ............................. 64 Section 49. Further Assurances ...................................... 65 Section 50. Consents ................................................ 65 Section 51. Interlocal Agreement and Effective Date ................. 65 Yankee Lake Regional Water Potable Water Supply Agreement Page 2 of 73 THIS YANKEE LAKE REGIONAL WHOLESALE POTABLE WATER SUPPLY AGREEMENT ("YLRWSA") is made and entered into this day of 2009, by and between SEMINOLE COUNTY, a political subdivision of the State of Florida, whose address is Seminole County Services Building, 1101 East First Street, Sanford, Florida 32771, hereinafter referred to as ~~SEMINOLE", the CITY OF APOPRA, a Florida municipal corporation, whose mailing address is Post Office Box 1229, Apopka, Florida 32704-1229, the CITY OF DELAND, a Florida municipal corporation, whose mailing address is 120 South Florida Avenue, Deland, Florida 32720, the CITY OF DELTONA, a Florida municipal corporation, whose mailing address is 2395 Providence Avenue, Deltona, Florida 32725, the CITY OF EUSTIS, a Florida municipal corporation, whose mailing address is Post Office Drawer, Eustis, Florida 32727- 0068, the CITY OF LONGWOOD, a Florida municipal corporation, whose mailing address is 175 West Warren Avenue, Longwood, Florida 32750, the CITY OF LAKE MARY, a Florida municipal corporation, whose mailing address is 100 North Country Club Road, Lake Mary, Florida 32746, the CITY OF ORANGE CITY, a Florida municipal corporation, whose mailing address is 229 E. Graves Avenue, Orange City, Florida 32763, the CITY OF OVIEDO, a Florida municipal corporation, whose mailing address is Post Office Box 159, Oviedo, Florida 32765, the CITY OF SANFORD, a Florida municipal corporation, whose mailing address is Post Office Box 1778, Sanford, Florida 32772-1778, COUNTY of VOLUSIA, a political subdivision of the State of Florida, whose mailing address is Thomas C. Kelly Administrative Center, 123 West Indiana Avenue, Deland, Florida, 32720 and the CITY OF WINTER PARR, a Florida municipal Yankee Lake Regional Water Potable Water Supply Agreement Page 3 of 73 corporation, whose mailing address is 401 Park Avenue South, Winter Park, Florida 32789-4386, each of which shall be a purchaser of wholesale potable water from SEMINOLE and hereinafter collectively referred to as "Participants". W I T N E S S E T H: WHEREAS, the parties to this YLRWSA are all local government potable water suppliers for their respective geographic jurisdictions or water service areas; and WHEREAS, the St. Johns River Water Management District ("SJRWMD") has notified the parties that no new permits for groundwater withdrawals will be granted after year 2013, and that the parties instead must develop alternative water supplies to meet future water needs; and WHEREAS, commencing in 2000, the St. Johns River Water Management District, with funding assistance from both SEMINOLE and the County of Volusia, undertook to study and investigate the St. Johns River as a potential alternative water supply for Seminole. County; and WHEREAS, those studies have demonstrated that the St. Johns River is a viable alternative water supply source, not only for Seminole, but for the Participants as well; and WHEREAS, the production of potable water from the St. Johns River will require an advanced reverse osmosis process that is significantly more expensive than the process typically used to produce potable water from groundwater. However, the parties recognize that the development of any source of alternative water supply will be more expensive than groundwater; and Yankee Lake Regional Water Potable Water Supply Agreement Page 9 of 73 WHEREAS, SEMINOLE has previously acquired a site adjacent to the St. Johns River, known as the "Yankee Lake site," which has the area and location suitable for the construction of a regional water treatment facility; and WHEREAS, SEMINOLE has undertaken the study, conceptual design, and initial permitting for the construction of a reverse osmosis water treatment facility for potable water supply at the Yankee Lake site, herein referred to as the Yankee Lake Regional Water Treatment Facility, or "Facility." WHEREAS, SEMINOLE has demonstrated the ability to design, construct, manage, operate and maintain water supply facilities in the locations, and at the times necessary, to ensure that a specified water supply for potable needs will be available to all Participants in this YLRWSA. [cf. s. 373.1962(1)(d), F.S.]; and WHEREAS, SEMINOLE has implemented an infrastructure delivery Program including a Program Management and Design Consultant Team for immediate commencement of implementation for expedited delivery of the Project; and WHEREAS, SEMINOLE has offered to Participants, to design, permit, and construct the potable water Facility larger than SEMINOLE's needs, in order that SEMINOLE and the PARTICIPANTS may obtain the operational efficiencies and economies of scale to be derived from a single larger facility, as contemplated by s. 373.196(1)(e), F.S.. These efficiencies include the avoidance of duplication of facilities, personnel and overhead costs, and consultant and legal fees related to the development of a new alternative water supply; and Yankee Lake Regional Water Potable Water Supply Agreement Page 5 of 73 WHEREAS, the Participants, recognizing the benefits of subscribing for capacity in such a larger facility, have elected to participate in this YLRWSA in accordance with the terms and conditions set forth below; and WHEREAS, SEMINOLE will design and construct the Facility in Phases, with sufficient capacity to accommodate the aggregate water subscriptions and timing demands of the parties. SEMINOLE will award its initial construction contract for such larger facility in reliance upon the Capacity Reservation Schedules attached to and incorporated in this Agreement; and WHEREAS, participation in this YLRWSA will assist Participants in meeting their respective projected needs for alternative water supplies. The Participants have requested MGD in aggregate demand of water system capacity to provide for their projected needs through 2039. WHEREAS, this YLRWSA contains the conditions under which the Facility will be developed to provide for the long-term alternative supply of potable water for Participants and SEMINOLE. As it becomes available, SEMINOLE will provide water system capacity to Participants for use subject to terms and conditions hereof. WHEREAS, Participants' execution of a Capacity Reservation Schedule and payment of corresponding Project Development Charge will allow each Participant to secure a finite quantity of water treatment capacity in the Facility and capacity in the Primary Transmission System under the terms of this YLRWSA. Yankee Lake Regional Water Potable Water Supply Agreement Page 6 of 73 WHEREAS, execution of this YLRWSA by May 15, 2009 serves the public interest and furthers the mutual interests of parties by: (a) affording participation in the one alternative water supply project which is most likely to be in construction or operational within SJRWMD groundwater limitation dates; (b) providing a cost-effective solution to Participants' alternative water supply needs; (c) affording the parties the opportunity to meet an application window for additional water supply development grant funding that may further reduce the cost of the Project to all parties; (d) enabling the parties to take advantage of current advantageous construction costs. WHEREAS, the Facility is planned to meet all, or a portion of the Participants' requirements for alternative water supplies, and to support environmentally sustainable economic development in the Central Florida region; and WHEREAS, the parties are authorized to enter this YLRWSA by one or more of the following: Sections 125.01(1)(k)1., 125.01(1)(p), 125.01(1)(u), 163.01, 166.021, Ch. 153, and Ch. 373, Florida Statutes, and provisions of the several parties charters. NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements hereafter set forth, SEMINOLE and the Participants intending to be legally bound hereby agree as follows: Section 1. Preamble. The foregoing statements are true and correct and form a material part of this YLRWSA, and upon which the parties have relied. Yankee Lake Regional Water Potable Water Supply Agreement Page 7 of 73 Section 2. Structure of Agreement. The structure of this YLRWSA includes the terms and conditions, and Exhibits applicable to all parties, and attached Capacity Reservation Schedules specific to each Participant. A Participant's Capacity Reservation Schedule will commit the Participant to Take or Pay for the quantity of water specified therein, and specify its respective project development charge, the payment of which will secure to that Participant the right to a specified amount of water production capacity ("capacity right") in the Facility. This capacity right will exist for the duration of this Agreement and any extensions hereto. The capacity right does not represent or convey an ownership interest in the physical plant of the Facility or System. SEMINOLE will also seek to augment the funding of the new Facility by making application for alternative water supply grant funds and other state and federal grants that may become available from time to time. The financial integrity of the new Facility and Primary Water Transmission System will be maintained by the creation of a new enterprise fund, the "Yankee Lake Enterprise Fund," which will be separate not only from Seminole general funds, but also from SEMINOLE's existing Water and Sewer Enterprise Fund, which itself will be a Purchaser of wholesale water from this new System. The Yankee Lake Enterprise Fund will account for only wholesale water sales under this Agreement. All Seminole retail water sales, and expenses related thereto, shall be accounted for separately under Seminole's Water and Sewer enterprise fund. Yankee Lake Regional Water Potable Water Supply Agreement Page 8 of 73 Primary Water Transmission System. This YLRWSA applies to both the Yankee Lake Regional Water Treatment Facility and the Primary Water Transmission System. The Primary Water Transmission System will convey wholesale potable water supplies to Primary Points of Delivery for the Participants. The Primary Points of Delivery are anticipated to be a river crossing. for the Volusia County Participants, and eastern, southern and western Points of Delivery up to the Seminole County boundaries. The cost of the trunk water transmission mains (Primary Water Transmission System) to the Primary Points of Delivery will be prorated according to the Participants' demands and will be designed and developed in reliance on the Participants' Capacity Reservation Schedules. Anticipated Points of Delivery for the Primary Water Transmission System are shown in Exhibit XX. The Primary Points of Delivery will be the extent of SEMINOLE responsibility in the delivery of Yankee Lake water supply to Participants. It will be the responsibility of Participants to take this water from the Points of Delivery and blend in their respective systems. Participants' Financial Commitment and Liability Not Contingent On Participants' Transmission Systems. In consideration of SEMINOLE's reliance on Participants' Capacity Reservation Schedules and its commitments under the Obligations, Participant's obligation to timely pay their respective Take or Pay charges shall be independent of, and not contingent upon the development of Participants' transmission systems. Yankee Lake Regional Water Potable Water Supply Agreement Page 9 of 73 Section 3. Term of Agreement. This YLRWSA shall become effective as stated in Section 50, and shall run through 2039, and shall automatically be renewed thereafter for successive periods not to exceed provided herein. (_) years each, unless earlier terminated as Section 4. Goals to be Achieved by Agreement. This YLRWSA is intended to achieve for the parties the following important goals: (a) SEMINOLE will use its best efforts to have the Yankee Lake Water Treatment System operational by a date that will enable Participants to meet SJRWMD requirements for development of alternative water supplies. (b) SEMINOLE will develop the System to provide to the Participants a reliable supply of water meeting potable water quality regulations at a fair price. This goal is supported by the following principles: (1) Equal treatment in delivery of water by SEMINOLE to Participants inside and outside of Seminole County, both in the normal administration of this YLRWSA, and in the event of a major system disruption; (2) Firm individual subscriptions for each Participant, with flexibility to transfer water entitlements, and water, among Participants; (3) The Facility will deliver potable water with free chlorine residual disinfection to Primary Points of Delivery; (4) Participants' price of water shall, to the maximum extent practicable, avoid subsidization of SEMINOLE or other Yankee Lake Regional Water Potable Water Supply Agreement Page 10 of 73 Participants, and reflect fair apportionment of the cost of capital facilities and expenses related thereto that actually benefit each respective Participant; (5) The cost of the Facility shall be allocated between Participants based on subscriptions and relative usage; (6) Flexible rate administration shall avoid sharp fluctuations from year to year. (i) SEMINOLE will manage and operate the System as efficiently as practicable for the benefit of, and without unjustified discrimination against, or among, Participants. Participants will have a voice in such management and operation through the Water Managers Advisory Board (Sec. 6(b)). (ii) This YLRWSA aims to increase the availability of sufficient water for all existing and future reasonable-beneficial uses. S. 373.016(3)(d), and s. 373.0831(2)(a), F.S. (iii) This YLRWSA is consistent with the statutory goal that direct beneficiaries of water supply development projects should pay the costs of the projects from which they benefit. S. 373.0831(2)(c), F.S. (iv) This YLRWSA is intended to be consistent with the SJRWMD regional water supply plan so as to receive priority consideration for state or water management district funding assistance. (v) The provisions of this YLRWSA are intended to be consistent with each Participant's comprehensive plan. Yankee Lake Regional Water Potable Water Supply Agreement Page 11 of 73 (vi) The parties will support efforts to have the SJRWMD identify the St. Johns River as a "preferred water supply source" pursuant to 5. 373.2234, F.S. In furtherance of the foregoing goals, the purpose of this YLRWSA is to set forth the terms and conditions under which SEMINOLE shall finance, develop, operate, maintain and manage the System for the production and delivery of wholesale potable water supplies for Participants to take at the Primary Points of Delivery. Section 5. Definitions. The following terms shall have the meanings stated herein for purposes of this YLRWSA. (a) Base Load Demands. Those demands for the Take or Pay quantities (specified amounts) that are intended to meet a base or average demand for each Participant. (b) Board. The Seminole County Board of County Commissioners or "BCC." (c) Capacity Right. A right to plant capacity in the Facility for potable water supplies for the term of this YLRWSA and any extensions hereto. (d) Capacity Reservation Period. A period of time ending on May 15, 2009, during which the Participants may execute a Capacity Reservation Schedule. (e) Capacity Reservation Schedule. (f) Capital Costs. The Planning, permitting, design, legal, construction and other associated costs required to place into operation physical assets with expected service lives in excess of one (1) year. Yankee Lake Regional Water Potable Water Supply Agreement Page 12 of 73 (g) Conjunctive Use. The coordinated use of both ground and surface water sources to provide reliable water supplies by meeting base load AWS with surface water, combined with the use of groundwater authorized in each Participant's permits to cover peak demands and any periods when surface water is temporarily reduced below base load levels or is otherwise unavailable, subject to approval by SJRWMD. (h) Consumptive Use Permit (CUP). A permit for raw water withdrawal from the St. Johns River issued by the St. Johns River Water Management District. (i) Contract Year. The period between execution of the YLRWSA and September 30, 2009 shall be the first contract year; thereafter the contract year shall be the fiscal year of SEMINOLE (beginning on each October 1, and ending on the immediately following September 30) for the term of this YLRWSA and any extensions hereto. (j) Facility. The Yankee Lake Regional Water Treatment Facility as described herein. (k) Financing Documents. shall mean any resolution or resolutions of SEMINOLE, as well as any indenture of trust, trust agreement or similar document relating to the issuance or security of Obligations. (1) MGD. Millions of gallons per day. (m) Notices. Communication to and among the parties pursuant to Section 36 hereof. (n) Obligations. shall mean any series of bonds or other evidence of indebtedness, including, but not limited to, notes, Yankee Lake Regional Water Potable Water Supply Agreement Page 13 of 73 commercial paper, capital leases, or any other obligations of Seminole issued or incurred in relation to the Facility. (o) Plant Capacity. The maximum amount of potable water that the Facility is designed to treat and deliver over a designated period, generally stated in terms of daily production (MGD). (p) Potable Water. Water meeting all applicable Federal and State regulations including, but not limited to, the Safe Drinking Water Act, to ensure that water quality is safe for human consumption. (q) Primary Points of Delivery. The interconnection between the Primary Transmission System facilities and the Participants' transmission facilities for the delivery of potable water. The Primary Points of Delivery are anticipated to be a river crossing to the Volusia Participants, and eastern, southern and western Points of Delivery up to the Seminole County boundaries. (As depicted on Exhibit (r) Primary Transmission System. SEMINOLE's network of transmission mains, pump stations and other physical assets including Supervisory Control and Data Acquisition (SCADA) assets used to transmit potable water from the Facility to the Primary Points of Delivery of the Participants' designated points of transmitted water acceptance. (See S. ) (s) Project Development Charge. A payment made by a Participant to SEMINOLE, as specified in its Capacity Reservation Schedule, payment of which will reserve a certain amount of gallons per day of potable water plant capacity of the Facility, for said Participant. The amount of the Project Development Charge will be Yankee Lake Regional Water Potable Water Supply Agreement Page 14 of 73 based on the proportionate share of total reserved Facility plant capacity represented by Participant's Take or Pay quantity. The Project Development Charge will include two elements. The first element will be the regional costs incurred to date by SEMINOLE and the second element will be the anticipated development activities to be conducted by SEMINOLE and the Participants. The regional costs incurred to date by SEMINOLE include the design and permitting of the regional intake, initial regional Facility planning, regional Facility public outreach, and legal services. The anticipated project development activities to be conducted by SEMINOLE and the Participants include transmission system master planning, facility pre-design, facility permitting, CUP permitting, NPDES permitting, transmission system pre-design, and transmission system permitting. (t) Rate. (See S. 11) (u) Rate Stabilization Account. (See S. 11) (v) Retail Water Sales. Potable water sales by a Participant to retail users within its designated service area. (w) Return on investment. (See S. 11) (x) Safe Drinking water Act (SDWA). Federal legislation delineating the water quality requirements for treatment and transmission of potable and non-potable water for domestic uses. (y) SJRWMD. St. Johns River Water Management District or "District." Yankee Lake Regional Water Potable Water Supply Agreement Page 15 of 73 (z) "Take or Pay". An unconditional payment commitment (subject to exceptions provided herein) providing that the Participant(s) shall be charged for their respective Take or Pay quantity irrespective of whether the Participant(s) actually demand or utilize the reserved amount of water. Stated otherwise, the minimum payment that each Participant agrees to make to SEMINOLE each year, shall equal to the water rate for that year times the Participant's "Take or Pay quantity of water." This provision effectively provides that a minimum water demand level must be established for each Participant. (See S. 10) (aa) Transmission System Points of Water Acceptance. The interconnection between the Primary Transmission System facilities and the Participants' transmission facilities for provision of potable water. (bb} Water Managers Advisory Board (WMAB). The. advisory board of Participants established in Section 6(b) of this Agreement. (cc) Water Rate. The charge per unit of volume for the greater of the contracted Take or Pay minimum water demands or the water actually delivered to the Primary Points of Delivery and charges for recovery of Capital Costs. The Water Rate is established by SEMINOLE for a contract year and shall recover, at a minimum, the budgeted Operating Costs based on the Participants' contracted Take or Pay quantity unless specifically adjusted by the Participants and approved by Seminole. (See Sec. 11) (dd) Yankee Lake Regional Water Treatment Facility (Facility). The real property, raw water intake/pumping station, water treatment Yankee Lake Regional Water Potable Water Supply Agreement Page 16 of 73 plant, finished water pumping station, and other related appurtenances located at the Facility site in Seminole County, Florida. The planned configuration of the Facility is depicted in Exhibit "B", attached hereto and incorporated herein. In the event of any future modifications, additions or deletions to the Facility, including the implementation of a future plant expansion, SEMINOLE will prepare and attach to this Agreement a revised Exhibit "B". (ee) Yankee Lake Water System (System). The Yankee Lake Water System is comprised of the Yankee Lake Regional Water Treatment Facility and the Primary Transmission System. The System includes all improvements, enlargements, extensions and additions which, pursuant to this YLRWSA, are deemed necessary and feasible by SEMINOLE to provide a potable water supply as contracted herein to Purchasers; and all future new facilities and /or consumptive use permits related to the Facility; and any water supply facilities which are deliberately and specifically, at the option of SEMINOLE, made a part of the System by the Board, and all repairs to or replacements of the System. System does not include. any SEMINOLE facilities which provide retail water distribution to SEMINOLE customers. Section 6. Roles and Responsibilities of Parties. SEMINOLE, as the owner and operator of the System and lead agency, has taken the lead in the development and permitting of the Project, and shall have final authority and responsibility with respect to the planning, design, permitting, financing, contracting, constructing, management, operation and maintenance of the System, as well as policy-making (including rate-setting related to the System. SEMINOLE shall Yankee Lake Regional Water Potable Water Supply Agreement Page 17 of 73 exercise the foregoing responsibilities for the benefit of all parties in accordance with the terms of this Agreement and, notwithstanding the foregoing, the structure of this Agreement shall afford Participants meaningful involvement into significant decisions related to the Facility. Participants shall exercise that involvement through the Water Managers' Advisory Board as described herein. Ownership of Infrastructure. SEMINOLE shall be and remain the sole owner of all infrastructure and permits relating to the operation of the System. A Participant's payment of Project Development Charges, water rates including Take or Pay charges, or other fees or charges for water supply under this YLRWSA shall not in any way extend or convey any ownership interest in, or right to physically control any portion of the System, except as otherwise provided. in Section 17 of this YLRWSA. Yankee Lake Enterprise Fund. SEMINOLE shall establish a separate Yankee Lake Enterprise Fund (Enterprise Fund) to manage and account for funds, revenues and expenses associated with development and operation of the System. The System will be financed separate and apart from SEMINOLE's Water and Sewer Utility System. Revenues from SEMINOLE's Water and Sewer Utility System Enterprise Fund are not pledged to support the Yankee Lake Enterprise Fund, nor are SEMINOLE's general fund revenues so pledged. The Yankee Lake Enterprise Fund will be supported entirely from revenues of the System. All interest earnings on balances of the Yankee Lake Enterprise Fund will accrue to the fund; only transfers as delineated in Section 11 (Return on Investment) and reimbursement of audited advances from the SEMINOLE Yankee Lake Regional Water Potable Water Supply Agreement Page 18 of 73 Water and Sewer Enterprise Fund are permitted from the Yankee Lake Enterprise Fund. The Yankee Lake Enterprise Fund will be subject to annual financial audit. (a) Management of Development and Operation of the System. SEMINOLE's County Manager, or the County Manager's designee (hereinafter, "the Manager") shall have executive authority to manage the planning, design, permitting, construction, and operation of the System. The Manager shall be responsible for implementing policies of the Seminole County Board of County Commissioners and the directives of the County Manager. The Manager shall also act as an interface with the Water Managers Advisory Board provided for herein, with a goal to achieving maximum cooperation and attainment of the mutual goals of all parties hereto, by managing the System in a way that benefits all parties hereto. (b) Water Managers Advisory Board. A Water Managers Advisory Board (WMAB) is hereby established, and shall be comprised of a representative from each Participant and from SEMINOLE. The governing body of each party hereto shall appoint a representative and alternate representative. The Seminole County Environmental Services Department will provide staff support to the WMAB and will be responsible for keeping its minutes and official records. A majority of the members of the WMAB constitute a quorum for the transaction of business. Each member shall have 1 vote for each MGD, or major portion thereof, of capacity reserved in the Facility. However, each member shall have at least 1 vote. Adoption of a Yankee Lake Regional Water Potable Water Supply Agreement Page 19 of 73 resolution or other action taken by the WMAB requires a majority of the votes that members of the WMAB are authorized to cast. The first meeting shall be held not less than days after the effective date of the YLRWSA. The Manager shall call the first meeting. At the first meeting, the WMAB shall elect a chairperson and a vice-chairperson, and such other officers as the WMAB deems necessary. The WMAB shall keep a written record of each meeting of the WMAB. The WMAB shall act in the role of representative of the collective interests all wholesale Purchasers of the System (Participants and SEMINOLE). It shall act in an advisory capacity with respect to major policy, management and operations issues and decisions that affect the substantial interests of the parties. The intent of this Agreement is that SEMINOLE shall make important decisions affecting the parties in a transparent manner, following disclosure and explanation to, and a reasonable period of time to receive comment, objections or recommendations from, the WMAB. As an advisory board, no rule, bylaw, or action of the WMAB may alter the force or effect of any term of this YLRWSA, except as expressly stated otherwise herein. Matters Affecting Substantial Interests. The following enumeration lists matters that are deemed to affect the substantial interests of the parties. SEMINOLE agrees to make its best effort to report to the WMAB the pendency of issues that involve these matters, and to afford to the WMAB reasonable opportunity for meaningful review and comment, prior to SEMINOLE action thereon. This requirement is Yankee Lake Regional Water Potable Water Supply Agreement Page 20 of 73 subject to an exception for emergency circumstances as described below: (a) Addition of new Participants, after Initial Subscription period. (b) Annual Budget. (c) Capital Improvement Plan, including prioritization or ranking of capital improvements. (d) Conservation Plan. (e) Methodology as to Project Development Charges and as to Take or Pay Charges. (f) Policies and Procedures related to the System. (g) Rates, Fees and Charges. (h) Application for Additional or Expanded CUP for Facility. (i) Audit review of Yankee Lake Enterprise Fund. (j) Consideration of Alternative Treatment Technologies. (k) Drought and Water Shortage Decisions. (1) Financing Decisions. (m) Levels of Service. (n) Location of Points of Connection. (o) Long-term planning. (p) Plant design or expansion. (q) Plant Shut-downs. (r) Rates and Rate of Return. (s) Rate Stabilization Account. (t) Regional Water Supply issues. (u) Security of System. Yankee Lake Regional Water Potable Water Supply Agreement Page 21 of 73 (v) Water Quality Issues. The Manager shall provide notification to the WMAB as soon as reasonably practical with respect to the pendency of the foregoing issues. The intent of this YLRWSA is that the Manager shall routinely report to the WMAB news of matters and events affecting any party's obligations under this YLRWSA, and the general condition or operation of the System, whether or not such news is considered to be a matter affecting the substantial interests of the parties. In the event of an emergency situation, defined as a situation about which SEMINOLE, through the exercise of reasonable diligence, was not able to provide the reasonable advance notification before SEMINOLE was required to take action or make a decision for the best interests of the System or parties hereto, SEMINOLE shall be excused from compliance therewith. Notwithstanding that, SEMINOLE shall provide Participants the most timely and effective notification reasonably possible in such emergency circumstances. (1) Meetings. The WMAB shall meet at least quarterly, and if called by the Manager, as needed, to discuss matters affecting the substantial interests of the parties and to make comments, objections and recommendations with respect to such issues after receiving reports from Seminole. The WMAB may adopt such Bylaws concerning its organization and governance as a majority of the membership shall see fit. (2) Committees. The WMAB may establish standing or ad hoc committees as needed to address ongoing issues, which may include: Yankee Lake Regional Water Potable Water Supply Agreement Page 22 of 73 (i) Addition of Participants (ii) Audit Review (iii) Best Management Practices (iiii) Facility Expansion (iv) Operation and Management Oversight (v) Policy Review (vi) Project Review (vii) Rate Review and Recommendations (viii) Water Resource Conservation (ix) Water Shortage Response (3) Recommendation of Standard Operating Practices. The WMAB may recommend to the Manager standard water system operating practices necessary or advisable to enhance the efficiency, reliability, and cost-effectiveness of the production of water provided under this YLRWSA. These standard operating practices may address issues such as, but not necessarily limited to, managing the Facility to minimize the impact of peak demand periods,(i.e., conjunctive use), security and emergency management, and timing of deliveries of water. Pending receipt of recommendations from the WMAB, the Manager shall adopt interim operating practices and upon receipt of the recommendations, the Manager shall adopt the recommendations, with such alterations as he or she deems necessary and advisable. Each Participant agrees to operate its system in a manner consistent with such established operating practices and in keeping with responsible use of the Yankee Lake Water Supply System. Yankee Lake Regional Water Potable Water Supply Agreement Page 23 of 73 Section 7. Nature of Project. As described herein, this YLRWSA involves development of a new alternative water supply project ("the Yankee Lake Water System Project" or "Project"), i.e., construction of the Yankee Lake Regional Water System, for the provision of a wholesale supply of potable water to the Purchasers by SEMINOLE, which is acting as the lead agency for this Project, consistent with s. 373.0831(2)(c),F.S. SEMINOLE will be the owner and operator of the System. The Project will be funded by revenue bonds which will be secured by Take or Pay obligations of the Participants, Project Development Charges and other revenues that may be obtained for the Project. The Project will be permitted and constructed in Phases, with certain System components constructed in Phase I of a size and capacity sufficient to produce the volumes of water contemplated at build-out of the entire Project. Generally, the Phases of the Project are as follows: Phase Plant Capacity Projected Year of Availability A (Reg.Intake Only) 5.5 N/A 1 40.0 2013 2 50.0 2015 3 60.0 2019 4 75.0 2024 5 85.0 2030 NOTE: The foregoing phase information will be up-dated after completion of the first financial pro forma which uses the up-dated capacity and demand reservation schedules. Yankee Lake Regional Water Potable Water Supply Agreement Page 24 of 73 Identification and Phasing - Yankee Lake Water System Project Elements. The Yankee Lake Water Water System Project includes several major elements. Each element will have a specific design and construction schedule intended to result in a complementary completion schedule of groups of elements, which will yield incremental increases in water capacity. A basic summary outline of these elements, their construction schedules and the anticipated water supply capacity associated with the completion of the elements is provided Exhibit xX. Completion of the construction of all Project elements identified above are needed to provide MGD (_ MGD average daily) capacity to the Participants. The Project milestone dates shown herein represent the current estimate of when various elements of the project may be completed. There-are numerous issues that could affect the completion of any or all of these Project elements, including but not limited to federal, state and local permitting, approvals, and special permits required and construction delays. Although the schedule allocates time to satisfy these issues, it is always possible that unanticipated delays will occur on a project of this scope and complexity. Section 8. Project Development and Financing. SEMINOLE, in response to SJRWMD guidance on future groundwater limits, has heretofore expended significant sums in the development of the Project as an alternative water facility. In reliance on Capacity Reservation Schedules of Participants, SEMINOLE will proceed- with the design, permitting, and construction of the System of a size and capacity Yankee Lake Regional Water Potable Water Supply Agreement Page 25 of 73 sufficient to meet the aggregate Take or Pay quantities of the Participants specified in such Schedules. (a) Capacity Reservation. Participation in the System is obtained by execution of both this YLRWSA and a Capacity Reservation Schedule. The Capacity Reservation Schedule will state each Participant's Take or Pay Quantity and Commitment to pay applicable rates for at least that quantity of potable water. Participant shall obtain a capacity right in the Facility upon payment of a calculated Project Development Charge specific to that Participant. Initial sizing of the intake structure and the plant will be .based on Capacity Reservations made during the initial Capacity Reservation Period, ending May 15, 2009. Potential Participants who elect not to join in this Agreement and execute a Capacity Reservation Schedule during the initial Capacity Reservation Period run the risk that surplus plant capacity may not be available at a later date, or, if plant capacity is available, will be subject to increased charges to become a Participant in the future. This provision provides a preference to those Participants who make a commitment to the Project during the initial Capacity Reservation Period, by enabling SEMINOLE to maintain its Project development goals and affording subscribing Participants the maximum economies of scale possible. If, in the future, an entity seeks to become a Participant, if all current Facility capacity has been allocated, SEMINOLE will not accept new Capacity Reservation Agreements until such time as additional plant capacity is made available. Future Capacity Reservation Periods for the addition of new Participants will be determined by SEMINOLE and scheduled only if Yankee Lake Regional Water Potable Water. Supply Agreement Page 26 of 73 they can be accomplished in a way that is not detrimental to the initial Participants of the System. (b) Project Development Charge. In order for a Participant to secure a reservation of capacity in the Facility, it must pay its respective Project Development Charge to the Yankee Lake Enterprise Fund by October 1, 2009. The Project Development Charge a non- refundable charge to accomplish the following purposes: (1) It represents each Participant's "buy-in" to the Project and is partial consideration for each Participant's reservation of capacity in the Facility; (2) It partially off-sets and recovers SEMINOLE'S project development costs to date, including project financing costs, legal expenses, project development planning, permitting, facilitation and design of initial raw water intake sizing (commensurate with Participants Capacity Reservation Schedules); (3) It partially mitigates and apportions among all Participants past and future project development risk; and (4) it serves to reduce the Project debt and ultimate rates for System water. Each Participant's specific Project Development Charge will be based on the same proportion that Participant's Take or Pay quantity (as specified in the Capacity Reservation Schedule) represents to the aggregate of all Take or Pay quantities in the Facility. (c) Individual Participant Demand Level. The Capacity Reservation Schedules shall require prospective Participants to identify an annual schedule of planned base-load demands. Payment of the Project Development Charge entitles the Participant to exercise its claim on the Facility capacity in the amount stated in its Yankee Lake Regional Water Potable Water Supply Agreement Page 27 of 73 executed Capacity Reservation Schedule. The Participants' are not required to use Facility capacity upon completion of the initial Facility construction but must reserve capacity to assure its availability in the future. Upon issuance of the CUP, the annual schedule of planned base- load demands will be revised accordingly. (d) Water Rates. Participants, through execution of this YLRWSA and Capacity Reservation Schedule, agree to pay Water Rates to the Yankee Lake Enterprise Fund for the greater of water actually delivered to the Primary Points of Delivery or minimum demand Take or Pay quantity as identified in the Participants' Capacity Reservation Schedules. The Water Rate shall be developed in accordance with Sec. 11 of this Agreement. Section 9. Certification of Available Capacity. As elements of the Yankee. Lake Water Supply infrastructure are constructed and deemed operational by SEMINOLE, resulting in the availability of capacity, SEMINOLE shall notify the Participants, in writing, of the volume of water available to Participant for allocation by each Participant. The capacity certified by SEMINOLE as available for use by d Participant under this YLRWSA is defined as the maximum volume of water that SEMINOLE will provide to the Participant in any 29-hour period, for use within Participant's municipal boundaries or service area, expressed in millions of gallons per day (MGD) and is intended to meet the base load of Participant. The amounts certified as available for use by Participant will increase incrementally as phases of the System infrastructure improvements and expansions are Yankee Lake Regional Water Potable Water Supply Agreement Page 28 of 73 constructed and deemed operational, subject however to all permit conditions. Participant may deliver water provided to it under this YLRWSA only to properties within its municipal boundaries or service area. Section 10. "Take or Pay" Water Quantities (a) General Take or Pay Obligations. Unless excused by some other provision of this YLRWSA, Participant agrees to pay SEMINOLE each year a sum of money (its "Take or Pay" purchase payment)at least equal to the water rate for that year times the Participant's Take or Pay quantity of water. Payments shall be made as provided in Section 15, Billing and Payment. (b) Changes in, and Transfers of, Take or Pay Quantities. (1) Reductions in Take or Pay Quantities. Participant's Take or Pay quantity may not be reduced during the term of this YLRWSA except by amendment. (2) Increases in Take or Pay Quantities. On any [date] during the term of this YLRWSA, Participant may request that its take or pay quantity be increased. The Manager may accept or reject such request, in whole or in part. The Manager shall respond to any request for an increase in take or pay quantity by [date] of the same year the request is made. Unless otherwise agreed by Participant and SEMINOLE, any increases in Take or Pay quantity agreed to under this provision shall be effective for the remaining term of the YLRWSA. If on [date], more than one Participant under this YLRWSA requests an increase in Take or Pay quantity and the Manager determines that he or she can prudently approve some increase in Take Yankee Lake Regional Water Potable Water Supply Agreement Page 29 of 73 or Pay quantity but cannot approve all pending requests in total, then the Manager may grant such overall increase in Take or Pay quantity as he or she deems prudent, provided that when granting partial approvals of more than one request, the Manager shall grant such approvals in proportion to the then-existing Take or Pay quantity of each requesting Participant compared to the total of the then-existing Take or Pay quantities of all requesting Participants. If the Manager cannot grant Participant's original request in total, the Participant may elect to withdraw its requested increase in Take or Pay quantity. All increases in Take or Pay quantities shall be confirmed in writing and signed by both (all) parties. (3) Transfers of Take or Pay Quantities. With the approval of the Manager, which shall not be unreasonably withheld, Participant may alter its Take or Pay quantity (and payment obligation) by transferring all or some of its Take or Pay quantity to another Participant. Withholding approval shall be deemed reasonable in the following circumstances only: the Manager determines that the transfer would require changes in the infrastructure of the Facility or reduce the reliability of the Facility. In these two circumstances, nonetheless, the Manager shall endeavor to approve transfers with such conditions as he or she deems necessary or advisable to avoid the need to make changes in the Facility infrastructure or reduction in the reliability of the Facility. Any approved transfer must be done in coordination with permitting requirements of the District. Yankee Lake Regional Water Potable Water Supply Agreement Page 30 of 73 (4) Sale of Take or Pay Water. Participant may sell water purchased from SEMINOLE as part of its Take or Pay quantity to other water suppliers, upon approval of the Manager, which will not be unreasonably withheld. Withholding approval shall be deemed reasonable in the following circumstances only: the Manager determines that the sale would require changes in the infrastructure of the Yankee Lake Facility or reduce the reliability of the Facility. In these two circumstances, nonetheless, the Manager shall endeavor to approve sales with such conditions as he or she deems necessary or advisable to avoid the need to make changes in the Yankee Lake Facility infrastructure or reduction in the reliability of the Facility. Any approved sale must be done in coordination with permitting requirements of the District. (c) Excess Demands (1) Reduction in Supply. Should Participant place demands on the Facility in excess of that agreed to between SEMINOLE and Participant or not in compliance with the Operating Standards adopted pursuant to Section 6(b), WMAB, that jeopardizes the reliability or safety of the Facility or compromises SEMINOLE's ability to meet its obligations to other Participants, the Manager may take such steps as are necessary or advisable to protect the Facility and the CUP. Such actions may include, but are not limited to reducing the supply of water flowing to the Participant. If the Facility infrastructure does not allow the Manager to make such supply reductions, the Manager may construct control devices as may be needed to suitably control Participant's demands. The cost of such improvements shall be fully Yankee Lake Regional Water Potable Water Supply Agreement Page 31 of 73 recovered through a surcharge billed to Participant and added in equal installments to the Participant's monthly invoices during the four months following completion of construction. (2) Calculation of Excess Demands. For purposes of section the Manager shall determine whether the Participant has imposed excess demands on the System using any information available to the Manager that. he or she determines can be used to assist in making the determination. The Manager's determination shall be subject to review and comment by the WMAB. (e) Increased Facility Capacity to Meet Increased Take or Pay Quantities. (1) If Participant requests an increase in its Take or Pay quantity pursuant to Section that, in the judgment of the Manager, cannot prudently be granted because it exceeds the capacity of the Facility to deliver water to Participants, the Participant may request that SEMINOLE undertake a study to determine what, if any, enhancements or alterations to the Facility, would produce sufficient system capacity to meet the requested increased Take or Pay quantity. (2) Upon Participant's written agreement to fund such a study of Facility enhancements or alterations, SEMINOLE shall undertake. the study. Provided that SEMINOLE's obligation shall be contingent on negotiation of a mutually satisfactory agreement between SEMINOLE and Participant establishing the nature, timing, and funding of the study. (3) Upon completion of any Facility study provided for in this Subsection, the Participant funding the study may request Yankee Lake Regional Water Potable Water Supply Agreement Page 32 of 73 SEMINOLE to undertake Facility enhancements or alterations sufficient to meet the Participant's requested increased Take or Pay quantity. (4) Upon request for Facility enhancements or alterations, SEMINOLE may agree to undertake the enhancements or alterations requested, under such terms and conditions as SEMINOLE and Participant in writing mutually agree. The parties may utilize joint funding agreements, as provided for under Section 17 of this Agreement, or such other arrangements as are determined to be mutually beneficial at the time. Section 11. Seminole/Yankee Lake Water Rates. (a) Rate Methodology. The price of water purchased by Participants, and the cost of providing water service to Participants, shall be determined annually by SEMINOLE in accordance with its then- current rate methodology, policies, rules and procedures. SEMINOLE may choose periodically to change methodologies and change the implementation of any methodology it selects, and to adopt, amend, or abandon its policies, rules and regulations. (b) Annual Reports and Budget. Participants shall supply SEMINOLE in each year with an annual report which shall set forth such Participants projected water demand for the next succeeding fiscal year. SEMINOLE shall submit to the Participants its proposed budget for the next fiscal year, as well as the proposed rate for water to be provided by the System to the Participants. The rate in effect for each fiscal (contract) year shall be sufficient to pay all costs associated with the System as provided in the budget for the upcoming fiscal year. Participants agree to pay SEMINOLE as compensation for Yankee Lake Regional Water Potable Water Supply Agreement Page 33 of 73 water service a monthly charge based on the rate approved by Seminole as applied against total volume of water delivered to such Participants by SEMINOLE. (c) Adjustment to Rates. SEMINOLE may prepare and approve adjustments to the water rate in effect based upon SEMINOLE's budget. Any new rate adjustment provided as a part of SEMINOLE's budget process shall become effective no earlier than the next succeeding October 1. SEMINOLE may also prepare and approve an adjustment to the rate at any other time ar times as shall be required by the Financing Documents. (d) Rates. The rate to be charged in a contract year to the Participants for water service may include the following components: (1) Operation, Maintenance and Administrative Costs. Operation, maintenance and administrative costs shall be based on the cost of water service of the System identified therefor in SEMINOLE'S budget for such contract year. (2) Debt Service Charges. Debt service charges relating to Obligations shall be based upon the principal of, redemption premium, if any, and interest coming due on the Obligations in such contract year. (3) Renewal and Replacement Charges. Renewal and replacement charges shall be based on an engineering estimate by SEMINOLE's consulting engineer of amounts to be deposited into the renewal and replacement fund or account at a level sufficient to satisfy in such contract year all requirements of covenants given. or undertaken by SEMINOLE in the Financing Documents. Yankee Lake Regional Water Potable Water Supply Agreement Page 39 of 73 (4) Bond Coverage Costs. Bond coverage costs shall be based upon coverage requirements established by the Financing Documents. (5) Capital Improvement Charges. Capital improvement charges shall be based upon the amount identified therefor in SEMINOLE's budget for such contract year. (6) Operating Reserve Funds. Operating reserve funds shall be based upon the amount identified therefor in SEMINOLE's budget for such contract year. (7) Return on Investment Charges. Return on Investment Charges shall be based on a percentage of gross revenues of the System received in the preceding contract year. The above-described components shall be identified in the proposed budget or other documentation provided to the Participants. SEMINOLE may establish a Rate Stabilization Account. The Rate Stabilization Account would be an account within the Yankee Lake Enterprise Fund, (including any subaccounts that the Yankee Lake Enterprise Fund determines to establish therein) for the purpose of providing, and in amounts reasonably necessary to provide, sufficient funds for the purpose of maintaining, to the extent practicable, Water Rates at constant levels for such periods as SEMINOLE may determine from time to time. Consistent with the foregoing, moneys in the Rate Stabilization Account may be used (i) for the payment of Finance Costs on Yankee Lake Debt to the extent that Water Rates and Other Yankee Lake Revenues are insufficient for such purpose, (ii) for such other purposes related to Yankee Lake Debt as SEMINOLE determines Yankee Lake Regional Water Potable Water Supply Agreement Page 35 of 73 appropriate, and (iii) for acquisition, construction or replacement of Capital Facilities of the System. The total of the amounts held in the Rate Stabilization Account shall not exceed, during any fiscal year, 5000 of the Average Aggregate Debt Service, calculated as of the first day of such fiscal year (or, if the interest on Yankee Lake Debt cannot be determined as of such date, 500$ of the Average Aggregate Debt Service estimated by SEMINOLE on a reasonable basis as of such date). (e) Procedure for Rate Adjustments. Prior to the adoption of any proposed new or adjusted rate, SEMINOLE shall provide to the Participants its proposed rate, with supporting data and calculations, including the components described in subsection (C) above. Any disagreements to the proposed rate shall be submitted for determination in the manner and mode set forth in the YLRWSA. (f) Rates Upon Expansion of Facility. As the Facility is expanded in phases, it is the intention of SEMINOLE to establish a rate structure for water provide to Participants from each phase of Facility expansion. For example, operating expenses and debt service on Obligations specific to an expansion phase shall be part of a rate structure to be paid by Participants receiving water service as a result of such phase. (g) Take or Pay Amounts; Minimum Payments. Each Participant shall agree under the Capacity Reservation Schedule to pay in each fiscal year a minimum amount equal to the applicable rate times its Take or Pay quantity specified in its Capacity Reservation Schedule. To the extent a portion of such water allocation shall be transferred Yankee Lake Regional water Potable Water Supply Agreement Page 36 of 73 by a Participant to another Participant as provided in this YLRWSA, such transferred allocation shall be paid by the Transferee Participant; provided, however, if such Transferee Participant shall default in any payment obligations relating to the assigned allocation, the Transferor Participant shall be responsible for such payment. Section 12. Additional Representations, Warranties and Covenants of SEMINOLE. SEMINOLE hereby represents, warrants and covenants to the Participants as follows: (a) Environmental Permits. SEMINOLE shall obtain, renew, maintain and modify, if necessary, all environmental permits necessary to provide water service from the System as described in the YLRWSA. Seminole further agrees to comply with all environmental permit conditions and applicable rules and regulations. (b) Financing Water Supply System. SEMINOLE shall from time to time issue such Obligations as it deems necessary to cover the costs incurred in constructing, acquiring, operating, replacing and expanding the System. (c) Accounting. SEMINOLE shall maintain within the Yankee Lake Enterprise Fund, accounts and records for all moneys received and disbursed by it with respect to water service from the Facility. On or before each March 1, SEMINOLE shall complete an audit of the aforesaid accounts. Said audit shall be conducted by a certified public accounting firm having experience in auditing public utility systems. Yankee Lake Regional Water Potable Water Supply Agreement Page 37 of 73 (d) Operation of System. SEMINOLE shall at all times operate and maintain the System in accordance with the prudent utility practices. (e) Compliance with Laws. SEMINOLE shall comply with all laws, rules and regulations applicable to the System. (f) Equitable Treatment of Participants. SEMINOLE shall treat all Participants equitably without preference for any one Participant over another Participant. (g) Rate. The rate charged by SEMINOLE to the Participants for water service shall be reasonable. Section 13. Additional Representations, Warranties and Covenants of the PARTICIPANTS. The Participants hereby represent, warrant and covenant to SEMINOLE as follows: (a) Irrevocable Commitment to Pay. The Participants shall pay their respective monthly bills for water service for every fiscal year in the manner provided in this YLRW SA. (b) Participants' Water Utility System Charges. The Participants shall fix, revise, maintain and collect such fees, rates, tariffs, rentals, or other charges for the use of products, services and facilities of their respective water utility systems to the extent necessary to fund the timely payment of their respective obligations and liabilities under this YLRW SA. SEMINOLE acknowledges that each Participant's obligation to pay any monies due under this YLRWSA does not constitute general indebtedness. Neither SEMINOLE nor the holders of any Obligations issued by SEMINOLE in order to finance the development, expansion, alteration, improvement or replacement of the Yankee Lake Regional Water Potable Water Supply Agreement Page 38 of 73 System shall have a right to require or compel any Participant to exercise its ad valorem taxing power to pay its obligations and liabilities under this YLRWSA or to compel payment from any source other than as indicated herein. (c) Participants' Water Utility System Operation and Maintenance Account. The Participants shall maintain their respective water utility system operation and maintenance accounts throughout the term of this YLRWSA for the purpose of paying their obligations and liabilities under this YLRWSA. At all times during the term of this YLRWSA, the parties' obligations and liabilities under this YLRWSA shall be considered an operating expense of their water utility systems and shall be paid from their water utility systems operation and maintenance accounts; provided, however, that such obligations and liabilities of a Participant shall not be considered an operating expense of its water utility system nor need it be paid from the operation and maintenance account to the extent the Participant has budgeted and appropriated other legally available moneys for such purpose and is current on all its obligations arising under this YLRWSA. (d) Participant Payment Obligation. Except as otherwise provided in Subsection (f) hereof, Participant shall not be liable under this YLRWSA for the obligations of any other Participant. A Participant shall be solely responsible and liable for performance of its obligations under this YLRWSA. The obligation of a Participant Yankee Lake Regional Water Potable Water Supply Agreement Page 39 of 73 to make payments under this YLRWSA is a severable obligation and not a joint obligation with the other Participants. (e) Cooperation on Permits Participants agree to promptly cooperate with SEMINOLE in obtaining any and all permits necessary or convenient for construction, expansion, alteration, replacement or operation of the System. Participants hereby waive any and all objections to SEMINOLE's permit applications relating to construction, operation, replacement or expansion of the Facility and water supply sources for the Facility, whether issued by a federal, state or regional governmental agency. (f) Cooperation on Issuance of SEMINOLE Obligations. Each Participant shall cooperate with SEMINOLE in the issuance of SEMINOLE's Obligations. In such connection, each Participant shall comply with reasonable requests of SEMINOLE and will, upon request, do as follows: (1) make available general and financial information about itself; (2) consent to publication and distribution of financial information; (3) certify that its general and financial information is accurate, does not contain any untrue statements of a material fact and does not omit a fact necessary to make the statements in the information, in light of circumstances under which they are made, not misleading; (4) make available certified copies of official proceedings; (5) provide reasonable certifications to be used in transcripts of closing documents; and (6) provide and pay for reasonable requested opinions of counsel as to the validity of its actions taken in respect to and the binding effect of the YLRWSA, and pending litigation which could materially affect its performance Yankee Lake Regional Water Potable Water Supply Agreement Page 90 of 73 hereunder. Each Participant shall provide SEMINOLE with reasonable assurance that no actions taken by it shall adversely affect the exclusion from gross income of interest on SEMINOLE's Obligations for purposes of federal income taxation. Each Participant agrees to assist SEMINOLE in any reasonable manner with respect to the issuance of such Obligations, including but not limited to participation in, and assistance with, any court proceeding seeking to validate the Obligations pursuant to Chapter 75, Florida Statutes. Section 14. Participant Financing. Each Participant shall have the option to issue their own debt or pay with its available money with respect to its capital contribution relating to the System and improvements thereto. The entire payment for a Participant's proportionate share shall be made to SEMINOLE within fourteen (14) days of the SEMINOLE bond closing. SEMINOLE shall provide notice to all Participants of the SEMINOLE bond closing date thirty (30) days prior to the SEMINOLE bond closing. The base rate charge for a Participant who issues its own debt or pays in advance for any such capital contribution relating to the System or improvements thereto shall be adjusted to remove that Participant's debt service costs attributed to the Participant's water allocation from the Facility. Yankee Lake Regional Water Potable Water Supply Agreement Page 41 of 73 Section 15. Billing and Payment. (a) Take or Pay Payment (1) Monthly Billing. SEMINOLE shall bill Participant its fixed monthly service charge plus a portion of its annual guaranteed purchase volumetric payment obligation each month. The monthly volumetric charge shall be the product of the monthly usage estimates, as determined in Sections or times that year's rate per unit of water. (2) Monthly Usage Estimates. (i) No later than March 15 of each year, Participant shall submit to SEMINOLE a projection of its demands for the next year, by month, which demands must total to the Participant's Take or Pay quantity and must be consistent with the Participant's base load demand. It is recognized that these demand projections will be estimates and actual demands may vary from projected demands but such departures from estimates do not relieve the Participant from obligations such as Take or Pay quantity. (ii) If the Participant has not by March 15 of each year submitted its projected demands for the next year or if a timely submission is inconsistent with Participant's then-current contractual Take or Pay quantity, the Manager shall consult with the Participant to obtain .new or revised projected demands. If thereafter the Participant does not submit projected demands that are consistent with its then-current contractual Take or Pay quantity, the Manager may use the previous year's demand projections or other projections that are Yankee Lake Regional Water Potable Water Supply Agreement Page 92 of 73 consistent with Participant's contractual Take or Pay quantity, to make rates and to operate the System. (b) Billing for Water Purchases Above Take or Pay Quantity. Within days of the end of each contract year (that is, by date), SEMINOLE shall review Participant's meter records for the previous contract year under this YLRWSA. If the Participant has taken water above its Take or Pay quantity, Seminole shall bill Participant for those water deliveries no later than date. Charges shall be calculated as follows: If the Participant has taken at least its annual Take or Pay quantity over the full contract year, then water supplied to Participant from to in excess of its estimated monthly guaranteed purchase quantity for those same months shall be charged the rate of times the quantity of excess water taken. (c) Payment Schedule. Bills are due upon receipt, and subject to a collection fee if not paid on or before the thirtieth day following the billing date. Collection fees shall be established by year Resolution of the SEMINOLE BCC. (d) Charges in Case of Meter Failure. Should any meter fail to measure accurately the water passing through said meter, the charge for water used during the time the meter is out of service shall be based on SEMINOLE's estimates of the volume of water supplied based on usage patterns and statistics for prior periods. (e) Disputes. In case of disputes over billings for water, Participants shall pay the undisputed amount when due and the disputed Yankee Lake Regional Water Potable Water Supply Agreement Page 93 of 73 amount shall be resolved through Dispute Resolution. The Participant shall pay interest at a rate equivalent to the rate earned on SEMINOLE's internal investment pool managed by the Clerk to the SEMINOLE Board of County Commissioners on any disputed amounts found through dispute resolution or litigation to be due SEMINOLE. Section 16. Metering Equipment. SEMINOLE shall own and maintain appropriate metering devices to measure the water flowing from the Yankee Lake Water System to the Participant's water system at the Primary Points of Delivery. To the extent that more than one Participant shall receive Yankee Lake water through a single Primary Point of Delivery, the parties agree that the plans for transmission systems on Participants' side of the Primary Points of Delivery shall make provision for, and identify the location of such additional metering devices as necessary for SEMINOLE to accurately measure deliveries. of Yankee Lake water to each individual Participant. At Participant's request and expense, SEMINOLE shall install peripheral devices that will allow Participant to receive real-time flow information from the metering systems. All metering systems shall be maintained by SEMINOLE. At least once per year, SEMINOLE and Participant shall pay for an independent testing and calibration of the metering systems. SEMINOLE shall select and secure the testing company services with the Participant's concurrence, and the costs of testing and calibration shall be shared equally between SEMINOLE and Participant. Participant shall have the right to witness the meter testing and calibration, to receive copies of test results, and if necessary to get an independent verification of meter calibration. Yankee Lake Regional Water Potable Water Supply Agreement Page 94 of 73 Section 17. Joint Funding of Additional Capital Improvements. SEMINOLE and Participant or a group of Participants may enter into separate agreements for the purpose of mutually funding additional capital improvements where such improvements are determined to be in their mutual interest. SEMINOLE and Participants may also enter into separate agreements for the conditions and pricing of sale of water supplies derived from such mutually funded improvements. Such separate agreements may include provisions for acquisition or ownership of assets and/or capacity by Participant. If provided in the joint funding agreement, Participant may include its proportionate ownership share of such assets in its calculation of system development charges and rates. Section 18. Re-Rating Yankee Lake Water System. To the extent that any component of the System is re-rated or treatment capacity is modified with the appropriate regulatory agencies (either an increase or decrease in capacity), then each Purchaser's corresponding Take or Pay quantity shall be adjusted pro-rata on a basis consistent with the Purchaser's Take or Pay share of System capacity prior to such re- rating event. SEMINOLE agrees not to initiate a re-rating process with the intent to reduce System capacity. For example, a Purchaser whose Take or Pay quantity represents a 10$ share of System capacity would receive a decrease in water allocation of 100,000 gallons per day for a 1,000,000 gallon per day re-rating decrease. To the extent that the re-rating of the System results in the incurrence of additional capital expenditures, SEMINOLE will notify the Participants of such expenditures. The expenditures required for and the Yankee Lake Regional Water Potable Water Supply Agreement Page 45 of 73 associated re-rating will be allocated proportionately pursuant to each Participant's Take or Pay share of System capacity, unless any Participant decides not to participate in the cost and associated benefits of re-rating. If a Participant decides not to participate in the re-rating, then the change in water allocation and the expenditures will be allocated pro-rata to the parties participating in the re-rating in accordance with their prior share of System capacity. All expenditures associated with a re-rating to increase capacity will be the responsibility of the parties participating in the re-rating and shall be paid to the Yankee Lake Enterprise Fund. Section 19. Changes in Regulations. SEMINOLE and Participants understand that changes in federal and state regulations that control or regulate water supplies, as well as natural and unnatural environmental conditions, can precipitate the need for capital improvements beyond those specifically anticipated or identified in this YLRWSA. In such cases, SEMINOLE and Participants shall ,fund such improvements to the System, based on each entity's proportionate share of the water system capacity provided under this YLRWSA, or if greater benefit inures to a particular party, that party shall bear a greater proportion of the costs based upon the benefit received. Section 20. Permits. SEMINOLE, as owner and operator of the System, shall remain the permit holder for any and all Federal, State, regional and local regulatory or other permits required for the System, including the SJRWMD Consumptive Use Permits (CUPs). SEMINOLE shall submit appropriate, necessary permit applications, ensure compliance with permits granted, and perform any associated monitoring Yankee Lake Regional Water Potable Water Supply Agreement Page 46 of 73 and reporting required as a condition thereof. SEMINOLE has applied to SJRWMD for a St. .Johns River CUP for the Facility for an initial 5.5 MGD. water supply to be used for re-use water augmentation (1 MGD) and potable supply (4.5 MGD). That CUP application was the subject of an administrative challenge. A Recommended Order has issued recommending approval, and SEMINOLE is awaiting the decision of the SJRWMD Governing Board on the Recommended Order. SEMINOLE shall be the permit holder of the primary CUP issued by the SJRWMD for the Facility, application for which shall be made by SEMINOLE for the ultimate capacity build-out of the Facility as projected in the initial Capacity Reservation Period. The Participants shall be solely responsible for the application for the secondary CUP (s) required to enable deliveries of the Facility's potable water, including compliance with conditions of and monitoring and reporting related to any permits issued thereunder. SEMINOLE will manage the joint development of the primary and secondary use permits to allow for the necessary level of coordination for demonstration of need. (b) In the event that permitted SJRWMD CUP withdrawals from the Facility are reduced by the SJRWMD, Capacity Reservations and Capacity Rights shall be reduced among the Participants in proportion to the Capacity Reservations held at the time of said regulatory action. Such reduction in Capacity Rights will not impact the financial responsibility and liability of the Participants as set forth in the Capacity Reservation Schedule but rather impose required adjustments to Water Rates. Yankee Lake Regional Water Potable Water Supply Agreement Page 97 of 73 Section 21. Contingencies. SEMINOLE's obligation to supply water to Participants for allocation and consumption is contingent upon: (1) the issuance and continued validity of the primary CUP from the St. Johns Water Management District allowing Seminole to withdraw and use at least MGD as a maximum daily basis ( MGD as an Annual Average Basis) from the St. Johns River; (2) the issuance and continued validity of all permits necessary to construct and operate the System infrastructure outlined in this YLRWSA; (3) the payment by Participants of each one's Project Development Charge; and (4) continued payment by Participants of Water Rates and Take or Pay charges as specified in this YLRWSA. Section 22. Water Supply Conditions. SEMINOLE will use its best efforts to supply water to Participant at the Primary Points of Delivery identified in the Conditions of Water Supply Exhibit, attached hereto as Exhibit -- It is understood by the parties that circumstances may prevent SEMINOLE from providing, at all times, the required flow at the Primary Points of Delivery shown on Exhibit Should distribution system problems cause a reduction in the delivery of water to one of the connection points, SEMINOLE shall use its best efforts to compensate for any reduction at the one connection point by increasing the flow at another connection point. Section 23. Continuity of Service. To the extent feasible, SEMINOLE shall supply potable water for each Participant, in the same manner as service to SEMINOLE's retail system. SEMINOLE shall use its best efforts and reasonable diligence to provide a regular and Yankee Lake Regional Water Potable Water Supply Agreement Page 48 of 73 uninterrupted supply of potable water at the Primary Points of Delivery, but it shall not be liable for damage, breach of contract, or otherwise to Participants for failure, suspension, diminution or other variations in service occasioned by or in consequence of any cause beyond the control of SEMINOLE, such as acts of God or of a public enemy, .fire, floods, earthquakes, hurricanes, natural catastrophes, failure or breakdown of transmission or other facilities, or shutdowns of the system mandated by a regulatory agency of the state or federal government. SEMINOLE shall provide oral notice to Participant, and may temporarily interrupt or reduce supplies of water to Participant, if SEMINOLE determines that such interruption or reduction is reasonable or necessary in the case of System emergencies, or in order to troubleshoot, repair or install equipment or to complete inspections, replacements, investigations or perform other maintenance work on the System. Except in cases of emergency, and in order that Participant's water supply operations will not be unreasonably interfered with, SEMINOLE shall provide Participant with reasonable written notice of any such interruption or reduction, the reason therefore, and the probable duration of service outage. Routine maintenance activities will be planned so they will have minimal impact on Participant's customers. In the event of a regional water supply emergency, including water shortages, that affect both the SEMINOLE and Participants' water supply systems, SEMINOLE and Participants shall cooperate to the fullest extent possible to maintain the supply integrity of the combined SEMINOLE and Participant water systems. Should such Yankee Lake Regional Water Potable Water Supply Agreement Page 99 of 73 emergencies require restrictions on the delivery or use of water, SEMINOLE and Participants shall cooperate fully to take appropriate action, including any required legislative action, to authorize the implementation of water use restrictions as well as any necessary enforcement action to ensure customer compliance with any such restrictions. Section 24. Emergency / Maintenance Usage by Participant. Participant may receive water over the Participant's Take or Pay quantity if there is: 1) an emergency situation, which includes, but is not limited to plant failures, droughts in excess of droughts of record, and water main breaks, or 2) a planned water treatment plant shut-down in non-emergency situations, with at least 48 hours notice. The amount to be made available will be dependent on the amount of water then reasonably available for SEMINOLE to provide to the Participant and requires the mutual consent of SEMINOLE and Participant, which consent will not be unreasonably withheld. Participant agrees to assist SEMINOLE for emergency and planned water treatment plant shut-down circumstances under the same conditions applicable to Participant in this Section. Section 25. Water Quality. Water supplied under this YLRWSA by SEMINOLE shall comply with all applicable provisions of the Florida Safe Water Drinking Act, SS. 403.850-403.864, Florida Statutes (2008). Provided, however, SEMINOLE shall have no duty to provide chlorine residual or be responsible for water quality in Participants' systems beyond the Primary Point of Delivery. Notwithstanding the foregoing, the Participant and SEMINOLE agree that exceptions, albeit rare, can Yankee Lake Regional Water Potable Water Supply Agreement Page 50 of 73 occur and require a coordinated response and public notification. When such events occur, SEMINOLE and Participant will work cooperatively to insure that their respective customers are properly informed of any Safe Drinking Water Act violations. Section 26. Resale to Other Water Suppliers. Participant may sell water (but not allocate Facility capacity) supplied to it by SEMINOLE under this YLRWSA, to other water suppliers not inside the municipal boundaries or service area of Participant, provided that such sales are temporary in nature. This provision shall apply to temporary emergency situations or for the occasional seasonal sale of water in bulk to commercial water haulers, which may use that water outside of the municipal boundaries of Participant. Section 27. Water System Planning and Cooperation. To facilitate regional water planning and resource development, Participant and SEMINOLE agree as follows: (a) Participant Projected Water Usage. Each five (5) years, at a minimum, starting on July 1 of Contract Year 5, Participant .shall provide to SEMINOLE estimates of Participant's base load water demand to be purchased from SEMINOLE by year, for a period of ten years including any anticipated increases in Take or Pay quantity. (1) In addition, in any other Contract Year in which unforeseen developments have significantly altered Participant's five year estimates, Participant shall provide SEMINOLE with its revised estimates of its water demand for a ten year period. Yankee Lake Regional Water Potable Water Supply Agreement Page 51 of 73 (2) The estimates provided for in this provision are for planning purposes only and do not commit SEMINOLE or Participant to either buy or supply any particular quantities of water. (3) Seminole shall provide WMAB a summary of SEMINOLE's projected demands for all Participants no later than [date] of each year. (b) SEMINOLE Evaluation of Capacity of Yankee Lake Facility. (1) Whenever it receives revised base load demand estimates from the Participant, SEMINOLE shall provide the Participant with estimates of capacity of the Facility to meet all projected system loads over the ten year planning horizon. (2) If SEMINOLE determines that the Facility cannot meet the projected demands Participant and others have proposed to place on it over the ten year planning horizon, SEMINOLE and Participant (together with other Participants who care to join in the discussions) may initiate negotiations to determine if and how the Facility could meet the projected loads, either through reduction in demand or development of additional water system capacity. (3) In no case, however, does this YLRWSA obligate SEMINOLE to sell water beyond the Take or Pay quantities established herein. Section 28. Water Resource Conservation. (a) General. (1) The obligations this Section will apply to both SEMINOLE and Participant. Both parties to this YLRWSA intend that Yankee Lake Regional Water Potable Water Supply Agreement Page 52 of 73 water to which SEMINOLE holds a Consumptive Use Permit shall be used beneficially, efficiently, and without waste. (2) The parties encourage the development of joint conservation programs where such partnerships are of mutual benefit and produce increased efficiencies in program costs or water savings. Provided, however, that funding for joint conservation programs will be established by separate agreement between the interested parties. (b) Water Managers Advisory Board. The WMAB will foster and promote efficient use of water and best management practices as outlined further in this Section. Section 29. Water Curtailment and Protection of Water System. (a) During times when water supplies are not adequate to meet the aggregate of all demands placed upon the Facility, SEMINOLE and Participants need to have a plan in place to reduce or curtail demands so that fire, life, safety and other high priority needs are met. It is to the benefit of all Participants that plans for curtailment be agreed upon in advance and that plans for curtailments be coordinated among Participants. (b) By signing this YLRWSA, Participant and SEMINOLE acknowledge that unforeseen or unavoidable circumstances may limit the amount of water available to SEMINOLE for sale and distribution, whether temporarily or permanently. Should the available supply fall below the aggregate of all demands placed on the Facility, or should it be reasonably predicted that supply will fall below demands before other supplies are available, the Manager may declare that a System water shortage is in effect. Yankee Lake Regional Water Potable Water Supply Agreement Page 53 of 73 (c) The WMAB shall develop and recommend to the Manager a Curtailment Plan. The Manager shall adopt the recommended Curtailment Plan with such alterations as he or she deems necessary or advisable. The Curtailment Plan shall be designed to accomplish reductions in demand necessary, in the event of a water shortage, to protect the Facility's capacity to supply water for fire, life, safety, and other high priority needs. The Curtailment Plan shall establish procedures, as well, whereby two or more Participants may coordinate their demand reductions to accomplish, jointly, total necessary System demand reductions imposed on them, even if one or more Participants individually do not meet the reductions required of its separate system. (d) Whenever the Manager has declared a System water shortage, any adopted Curtailment Plan shall be in effect. If there is no adopted Curtailment Plan, the Manager shall require implementation of measures he or she deems necessary or advisable to reduce all demands, proportionally based on annual usage for the previous contract year and on annual guaranteed purchase quantities furnished under this YLRWSA for the previous contract year. (e) If the Manager declares a System water shortage, Participant shall implement measures sufficient to meet the requirements of the Curtailment Plan (or other requirements of the Manager for proportional reduction in demand if no Curtailment has been adopted). Participant may do this through implementation of measures contained in the Curtailment Plan, similarly effective measures found in Participant's own plan, or through agreements with Yankee Lake Regional Water Potable Water Supply Agreement Page 54 of 73 other Participants, that result, jointly among agreeing Participants, in a total reduction in System demand equivalent to that required in the Curtailment Plan, or, if there is no Plan, the Manager's order for proportional reductions. (f) SEMINOLE shall monitor compliance with the Curtailment Plan on a schedule established in the Plan or at least every two weeks throughout the duration of the declared water shortage. (g) If, after the Manager declares a System water shortage, Participant is unable individually, or in cooperation with other Participants as contemplated in Subsection (e) above, to achieve the required reductions in the use of water supplied under this YLRWSA, the Manager may act to reduce the amount of water supplied to the Participant so that it does not exceed the amount specified under the Curtailment Measures. Section 30. Dispute Resolution. (a) For disputes between Oviedo, Sanford and SEMINOLE, either individually or collectively, arising out of this YLRWSA only, the procedures of the this Section shall supersede and operate in place of the Interlocal Agreement on Mediation and Intergovernmental Coordination executed on January 24, 1995. (b) Pursuant to the exemption contained in Section 164.1041(1), Florida Statutes, the following procedures of dispute resolution shall provide an alternative dispute resolution process, in lieu of the general requirements of Chapter 164, Florida Statutes, as to disputes arising out of this YLRWSA only. Yankee Lake Regional Water Potable Water Supply Agreement Page 55 of 73 (c) Any party may seek all remedies available at law or in equity. The parties agree, however, prior to commencement of any suit, they shall first engage in dispute resolution as provided in this Section. Step 1. Notice of Dispute Prior to commencement of litigation of a dispute, the aggrieved party/ parties must first provide the other(s) with a written notice describing the dispute and submitting the dispute to resolution under this sub-section. Such notice shall commence the dispute resolution process. Step 2. Negotiation Each party shall designate a person or persons to negotiate on its behalf, shall make a good faith effort to exchange information and data related to the dispute, and shall meet to negotiate a resolution of the dispute. If the dispute is resolved at this step, the parties will memorialize the agreement by a written determination of such resolution, sighed by the designated representatives of the parties. All discussions, during such meeting shall be deemed privileged settlement negotiations. Step 3. Mediation If the dispute has not been resolved within 45 days of the date of notice of dispute, or such longer time as is mutually agreed by the parties, the parties shall submit the matter to mediation. The parties shall attempt in good faith to agree on a mediator. If they cannot agree, they shall request a list of five mediators from an entity or firm providing mediation services. The parties shall Yankee Lake Regional Water Potable Water Supply Agreement Page 56 of 73 attempt in good faith mutually to agree on a mediator from the list provided, but if they cannot agree, each party shall select one name. The two selected shall select a third person and the dispute shall be heard by a panel of three mediators. Any common costs of mediation, shall be borne equally by the parties. Each party shall bear its own individual costs therefor. Mediation shall not continue more than 105 days past the initial notice of dispute unless mutually agreed by the parties. If the dispute is resolved at this step, a written determination of such resolution shall be signed by the designated representatives of the parties. If the dispute has not been resolved through negotiation or mediation within the time set by this YLRWSA, the dispute resolution process shall be deemed ended and the parties shall be free to pursue other remedies. (d) Venue for any litigation between the parties arising under or regarding this YLRWSA shall be in Seminole County, Florida. In any dispute resolution or litigation under this YLRWSA, each party shall bear its own costs and attorney's fees. Section 31. Default and Remedy. In the event of default of any provision of this YLRWSA, the non-defaulting party shall issue written notice to the other party clearly stating the nature of the default. If the default is for a monetary payment due hereunder, the defaulting party shall have thirty (30) days to cure the default. In the event of other defaults, the defaulting party shall use its best efforts to cure the default within ninety (90) days. If such default cannot be Yankee Lake Regional Water Potable Water Supply Agreement Page 57 of 73 reasonably cured within such ninety (90) day period, the defaulting party shall, upon written request prior to the expiration of the ninety (90) day period be granted an additional sixty (60) days to cure the default. In consideration of the parties' fundamental need for a safe and dependable source of water supply, the parties agree that this YLRWSA may not be terminated prior to the normal expiration date specified in Section 3 and the remedies available for a breach of the YLRWSA shall include, but not be limited to, specific performance, injunctive relief and any other equitable relief, as well as monetary damages. Therefore, this YLRWSA is not intended to specify an exclusive remedy for any default, but all such other remedies (other than termination) existing at law or in equity may be availed of by any party hereto and shall be cumulative. Section 32. No Additional Waiver Implied. No waiver or waivers of any breach or default (or any breaches or defaults) of any term, covenant, condition or liability under this YLRWSA, or of performance by the other parties of any duty or obligation under this YLRWSA, shall be deemed or construed to be a waiver of subsequent breaches or defaults of any kind, under any circumstances. Section 33. Indemnification. (a) No party hereto waives sovereign immunity except that, consistent with all applicable State law, including, but not limited to Chapter 768, Florida Statutes, the parties agree to hold one another harmless for the negligent acts or omissions of itself, its Yankee Lake Regional Water Potable Water Supply Agreement Page 58 of 73 officers, agents, and employees, but only to the extent permitted by law. (b) The parties further agree that nothing contained herein shall be construed or interpreted as a waiver of sovereign immunity of any of the parties hereto beyond the waiver provided for in Section 768.28, Florida Statutes, as applicable. (c) If service provided hereunder is discontinued to a customer due to failure of the customer to pay for services provided, the party responsible for discontinuing service shall hold the other party harmless as to any and all claims or suits regarding such action. Section 34. Insurance. SEMINOLE agrees to carry and arrange for fire, casualty, public liability, and/or other insurance, including self-insurance, on the System for purposes and in amounts which, as determined by SEMINOLE, ordinarily would be carried by a privately owned utility company owning and operating such facilities, except that SEMINOLE shall not be required to provide liability insurance except to insure itself against risk of loss due to claims for which it can, in the opinion of SEMINOLE's County Attorney, be liable under Section 768.28, Florida Statutes or any similar law or judicial decision. Such insurance will provide, to the extent feasible and practicable, for the restoration of damaged or destroyed properties and equipment, to minimize the interruption of the services of such facilities. All premiums for such insurance shall constitute an Operation and Maintenance Expense of the System. Section 35. Assignment. This YLRWSA shall be binding on the parties hereto and their representatives and successors. Except for Yankee Lake Regional Water Potable Water Supply Agreement Page 59 of 73 provisions regarding partial transfer of Take or Pay quantity specified herein, no party to this YLRWSA shall assign this agreement, or any right or obligation arising herein, without the prior written consent of SEMINOLE. Section 36. Successors and Assigns. This YLRWSA shall be binding on and inure to the benefit of the respective successors, permitted assigns, administrators and trustees of SEMINOLE and each and every Participant. Section 37. Disclaimer of Third-Party Beneficiaries. This YLRWSA is solely for the benefit of the formal parties herein, and no right or cause of action shall accrue upon or by reason hereof to or for the benefit of any third party not a formal party hereto. Section 38. Relationship of Parties. This YLRWSA and the transactions contemplated hereunder are based upon the active participation of all parties. Neither the execution nor delivery of this YLRWSA and related Capacity Reservation Schedules, nor the consummation of the transactions contemplated hereunder, shall create or constitute a partnership, joint venture, or any other form of business or governmental organization or arrangement between the parties, except for the contractual arrangements specifically set forth in this YLRWSA. Except as is expressly agreed to in writing in this YLRWSA, no party (or any of its agents, officers or employees) shall be an agent of the other party, nor shall a party (or any of its agents, officers or employees) have any power to assume or create any obligation on behalf of the other party. Nothing contained in this Yankee Lake Regional Water Potable Water Supply Agreement Page 60 of 73 YLRWSA shall create or constitute a partnership, joint venture, or any other form of business organization or arrangement among SEMINOLE on the one hand and any or all of the Participants on the other hand, except for the contractual arrangements specifically set forth herein. Section 39. Initial Implementation. All parties agree to take such actions as are necessary to fully implement the YLRWSA in as expeditious a manner as possible. Section 40. Notices. Whenever a party desires to give notice to another party, notice may be sent to: 1 For APOPRA: 2 3 City of Apopka 4 P.O. Box 1229 5 Apopka, FL 32704-1229 6 7 For DELAND: 8 9 City of Deland 10 120 S. Florida Avenue 11 Deland, FL 32720 12 For DELTONA: 13 14 City of Deltona 15 2345 Providence Avenue 16 Deltona, FL 32725 17 18 For EUSTIS: 19 20 City of Eustis 21 P.O. Drawer 68 22 Eustis, FL 32727-0068 23 For MOUNT DORA: 24 25 City of Mount Dora 26 P.O. Box 176 27 Mount Dora, FL 32756-0176 28 29 For ORANGE CITY: 30 31 City of Orange City 32 229 E. Graves Avenue 33 Orange City, FL 32763 34 35 For LONGWOOD 36 37 City of Longwood 38 175 West Warren Avenue 39 Longwood, Florida 32750 40 41 For LAKE MARY 42 43 City of Lake Mary 44 100 North Country Club Road 45 Lake Mary, Florida 32746 46 47 For OVIEDO: 48 49 City of Oviedo 50 Post Office Box 159 51 Oviedo, F1 32765 52 53 For SANFORD: 54 55 City of Sanford 56 P.O. Box 1778 57 Sanford, FL 32772-1778 58 59 For SEMINOLE: 60 61 Board of County Commissioners 62 1101 East First Street 63 Sanford, FL 327731 64 65 For VOLUSIA COUNTY: 66 Yankee Lake Regional Water Potable Water Supply Agreement Page 61 of 73 1 Board of County Commissioners 9 Winter Park, FL 32789-4386 2 123 W. Indiana Avenue 10 3 Deland, FL 32720 11 12 For WINTER GARDEN: 4 5 For WINTER PARK: 13 City of Winter Garden 6 14 251 W. Plant Street 7 City of Winter Park 15 Winter Garden, FL 34787 8 401 Park Avenue South 16 Any of the parties may change, b y w ritten notice as provided herein, 17 the addresses or persons for receipt of notices. 18 Section 41. Compliance With Laws and Regulations. In performing 19 under this YLRWSA, the parties shall abide by all Federal, State, 20 regional and local laws, statutes, ordinances, rules and regulations 2l pertaining to, or regulating the performance set forth herein, 22 including those now in effect and hereafter adopted. Any material 23 violation of sai d laws, statutes, ordinances, rules o r regulations, 24 subject to an opportunity to cure, as set forth herein, shall 25 constitute a material breach of this YLRWSA. 26 Section 42. Governing Law; Jurisdiction and Specific Performance. 27 This YLRWSA and the provisions contained herein shall be construed, 28 controlled, and interpreted in accordance with the Laws of the State 29 of Florida. In the event of litigation between any of the parties, 30 venue and jurisdiction shall lie with the Circuit Court of the 31 Eighteenth Judicial Circuit, in and for the Seminole County, Florida, 32 as to State actions and the United States District Court for the 33 Middle District of Florida, Orlando Division, as to Federal actions. 34 The parties shall be entitled to specific performance of the terms. and 35 conditions of this YLRWSA 36 Section 43. Counterparts. This YLRWSA may be executed 37 simultaneously and in any number of counterparts, each of which shall Yankee Lake Regional Water Potable Water Supply Agreement Page 62 of 73 1 be deemed an original, but all of which shall constitute one and the 2 same instrument. 3 Section 43. Severability. The purpose of this YLRWSA is to 4 provide for long-term water supply planning and certainty for both 5 SEMINOLE and Participants through operation of orderly plans calling 6 for the expenditure of large sums of money for regional water supply 7 and transmission facilities. It is the intent of the parties that if 8 any provision of this YLRWSA, or its application, is held by a court 9 of competent jurisdiction to be illegal, invalid, or void, the ]0 validity of the remaining provisions of this YLRWSA or its application I1 to other entities, or circumstances shall not be affected. The l2 remaining provisions shall continue in full force and effect, and the 13 rights and obligations of the parties shall be construed and enforced 14 as if the YLRWSA did not contain the particular invalid provision. In 15 such circumstance, SEMINOLE may propose to the Participants an 16 equitable adjustment or modification to the provisions of this YLRWSA 17 with the view to effecting, to the extent possible, the original 18 purpose and intent of this YLRWSA. Provided, however, if the invalid 19 provision or its application is found by a court of competent 20 jurisdiction to be substantive and to render performance of the 21 remaining provisions unworkable and non-feasible, if found to 22 seriously affect the consideration and is inseparably connected to the 23 remainder of the YLRWSA, the entire agreement shall be null and void. 24 Yankee Lake Regional Water Potable Water Supply Agreement Page 63 of 73 1 Section 45. Entire Agreement; Amendment. 2 (a) This YLRWSA, together with all Exhibits and Schedules 3 attached hereto, constitutes the entire agreement of the parties 4 relating to SEMINOLE's provision of an alternative water supply under 5 this YLRWSA, and supersedes all prior contracts, agreements or 6 7 8 9 10 11 12 13 14 IS 16 17 18 19 20 21 22 23 24 25 26 understandings with respect to such alternative water supply, whether oral or written, except to the extent such agreements are specifically referenced herein. Each party agrees that the other party (and its agents and representatives) has not made, and has not relied upon, any representation, warranty, covenant or agreement relating to the transactions contemplated hereunder than those expressly set forth herein. (b) Any alterations, amendments, deletions, or waivers of the provisions of this YLRWSA shall be valid only when expressed in writing and duly signed by the parties. This YLRWSA may be amended only to the extent permitted by the Financing Documents authorizing the issuance of the Obligations. Section 46. Incorporation of Exhibits and Schedules. All Exhibits and Schedules attached to this YLRWSA are incorporated herein by this reference in their entirety and made a part hereof for all purposes. Section 47. Interpretation and Reliance. No presumption will apply in favor of any party in the interpretation of this YLRWSA or in the resolution of any ambiguity of any provision thereof. Section 48. Headings; Table of Contents. The headings of the Sections of this YLRWSA and the Table of Contents are included for Yankee Lake Regional Water Potable Water Supply Agreement Page 69 of 73 1 convenience only and shall not be deemed to constitute a part of this 2 YLRWSA. 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 l8 19 20 21 Section 49. Further Assurances. Each party agrees to use all reasonable efforts to provide such information, execute such further instruments and documents, and do all acts and things, as may be from time to time reasonably requested by another party and not inconsistent with the provisions of this YLRWSA and not involving the assumption of obligations or liabilities different from, or in addition to those expressly provided for in this YLRWSA, or otherwise reasonably required to carry out the intent and provisions of this YLRWSA. Section 50. Consents. To the extent that the consent of any party to this YLRWSA is required as a condition to the action of any of the other parties, such consent shall not be unreasonably withheld. Section 51. Interlocal Agreement and Effective Date. This YLRWSA shall constitute an interlocal agreement pursuant to Section 163.01, Florida Statutes. This YLRWSA shall take effect on the date that a true and correct copy of this YLRWSA (and any subsequent amendments) is filed and recorded by SEMINOLE with the clerk of the circuit court in Seminole, Volusia, Lake, and Orange Counties. Yankee Lake Regional Water Potable Water Supply Agreement Page 65 of 73 ] IN WITNESS WHEREOF, the parties to this YLRWSA have caused their 2 names to be affixed hereto by the proper officers thereof. 3 ATTEST: CITY OF APOPKA 4 5 By: 6 JANICE G. GOEBEL, Clerk JOHN H. LAND, Mayor 7 8 Date: 9 10 11 ATTEST: CITY OF DELAND 12 13 BY~ 14 JULIE HENNESSY, Clerk ROBERT APGAR, Mayor 1S 16 Date: I7 ATTEST: CITY OF DELTONA 18 19 BY~ 20 Faith G. Miller, Clerk DENNIS MULDER, Mayor 21 22 Date: 23 24 2S ATTEST: CITY OF EUSTIS 26 27 BY~ 28 JUDY ROBERTS, Clerk SCOTT ALES, Mayor 29 30 Date: 31 32 33 ATTEST: CITY OF LAKE MARY 34 3S 36 BY~ 37 CAROL A. FOSTER, Clerk DAVID MEALOR, Mayor 38 39 Date: 40 41 42 ATTEST: CITY OF LONGWOOD 43 44 BY~ 4S SARAH M. MIRUS, Clerk BRIAN D. SACKETT, Mayor 46 47 Date: 48 49 Yankee Lake Regional Water Potable Water Supply Agreement Page 66 of 73 1 ATTEST: 2 3 4 DEBBIE RENNER, Clerk 5 6 7 8 9 ATTEST: 10 11 12 BARBARA BARBOUR, Clerk 13 l4 15 16 17 ATTEST: 18 19 20 JANET R. DOUGHERTY, Clerk 21 22 23 24 25 ATTEST: 26 27 28 JAMES T. DINNEEN, Clerk 29 30 31 32 33 ATTEST: 34 35 36 CINDY BONHAM, Clerk 37 38 39 40 41 42 43 44 CITY OF ORANGE CITY By: HARLEY STRICKLAND, Mayor Date: CITY OF OVIEDO By: THOMAS G. WALTERS, Mayor Date CITY OF SANFORD By: LINDA KUHN, Mayor Date: COUNTY OF VOLUSIA, FLORIDA By: FRANK BRUNO, JR., Chairman Date: CITY OF WINTER PARK By DAVID C. STRONG, Mayor Date; 45 (Balance of this page intentionally blank; signatory page continues] 46 47 48 49 50 51 52 Yankee Lake Regional Water Potable Water Supply Agreement Page 67 of 73 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 3l 32 33 34 35 36 37 38 39 40 41 ATTEST: MARYANNE MORSE Clerk to the Board of County Commissioners of Seminole County, Florida. For the use and reliance of Seminole County only. Approved as to form and legal sufficiency. County Attorney BOARD OF COUNTY COMMISSIONERS SEMINOLE COUNTY, FLORIDA By: BOB DALLARI, Chairman Date: As authorized for execution by the Board of County Commissioners at its , 2009, regular meeting. MGM/dre 02/17/09 P:Users/MMinter/YL-draft Tuesday 2-17-09(A).doc ' Attachments: Exhibit "A"- Sketch of Yankee Lake Site Exhibit "B"- Configuration of Yankee Lake Regional Water Treatment Facility Exhibit "_" Primary Points of Delivery Schedule 5-1- Form of Capacity Reservation Schedule Yankee Lake Regional Water Potable Water. Supply Agreement Page 68 of 73 2 3 4 5 6 7 8 9 10 11 12 13 14 Yankee Lake Regional Water Potable Water Supply Agreement Page 69 of 73 SCHEDULE S- 2 CAPACITY RESERVATION SCHEDULE 3 Section 1. Schedule part of YLRWSA and controls in conflict. 4 This Schedule S- is an integral part of the YLRWSA and is applicable 5 to SEMINOLE and as if fully set forth in the body of the 6 YLRWSA. If any provision of this Schedule S-_ conflicts with the 7 general provisions of the YLRWSA, the provisions of this Schedule S-_ 8 shall control. 9 Section 2. Take or Pay Quantity. Upon payment 10 of the Project Development Charge specified in Section 3 below, 11 shall have reserved and obtained a capacity right in 12 the Yankee Lake Regional Water Treatment Facility for MGD, 13 subject to the terms and conditions of the YLRWSA. Upon receipt from 14 SEMINOLE of certification that such capacit y is available to 15 shall commence payment to 16 SEMINOLE for 's take or pay quantity, in monthly 17 installments, at the prevailing rates as established by Resolution of 18 the SEMINOLE BCC. 19 Section 3. Project Development Charge. In consideration of the 20 covenants and agreements. of the YLRWSA, and based on the proportionate 21 share that 's Take or Pay Quantity specified in 22 Section 2 above bears to the total plant capacity of the Yankee Lake 23 Regional Water Treatment Facility, agrees to pay 24 to SEMINOLE, by October 1, 2009, its Project Development Charge in the 25 sum of $ .00. 26 Yankee Lake Regional Water Potable Water Supply Agreement Page 70 of 73 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 WITNESS: Approved as to form: Attorney for City of STATE OF FLORIDA COUNTY OF CITY OF By: I HEREBY CERTIFY that on this day, before me, an officer duly authorized in the State of Florida and in the County aforesaid to take acknowledgements, personally appeared, , to me known to be the person described in and who executed the foregoing instrument on behalf of the City of and acknowledged before me that executed the same as a free act and deed for the uses and purposes therein stated. WITNESS my hand and official seal in the County and State last aforesaid this day of 2009. Notary Public, My Commission Expires Yankee Lake Regional Water Potable Water. Supply Agreement Page 71 of 73 Table XX Capacity Reservation and Projected Demands Year Projected Demand (MGD)* 2013 2018 2023 2028 2033 2038 Capacity Reservation** * Basis of Take or Pay Amount ** Sum of Projected Demands Yankee Lake Regional Water Potable Water Supply Agreement Page 72 of 73 Provisions and Next Steps Summary Primary Provisions This agreement has been developed with the following primary provisions that were reviewed in the January 30, 2009 meeting and is consistent with the discussions at our meetings held during the latter part of 2008. • The agreement specifies that Seminole will be the sole owner of the Facility and that Seminole will have final policy making and management authority with respect to the Facility. • The Facility will be developed as a separate entity from Seminole's current water and sewer system, and will have a separate Yankee Lake Enterprise Fund to account for revenues and expenses unique to the Facility. • The agreement will establish a Water Management Advisory Board of which each Participant and Seminole will be a member. • The Memorandum of Understanding (MOU) provides for an Initial Commitment period which ends on Tune 15, 2009 meaning the any entity desiring to participate must execute the Memorandum of Understanding for Project development Agreement by that date. • The Yankee Lake Regional Water Supply Agreement (YLRWSA) provides for Capacity Reservation period which ends on October 1, 2009, meaning that any entity desiring to participate must execute both the basic water supply agreement and the specific Capacity Reservation schedule by that date. • For a Participant to secure a reservation of capacity in the Facility, it must pay its respective Project Development Charge to the Yankee Lake Enterprise Fund by October 1, 2009. The Project Development Charge will be a function of a Participant's take or pay subscription as specified in the Capacity Reservation Schedule. The above MOU milestone in June has been identified so that signatures of Participants to the agreement can be competed in time for consideration of additional District regional water supply grant funding this summer. Primary Transmission System In response to many questions and/ or concerns regarding the transmission system for this project, Seminole has included provisions for the development of the Facility with a Primary Transmission System in this agreement. The Primary Water Transmission System will be included in the new Yankee Lake Enterprise Fund and will convey wholesale potable water supplies to Primary Points of Delivery for the Participants. The Primary Points of Delivery are anticipated to be a river crossing for the Volusia County Participants, and eastern, southern and western Points of Delivery up to the Seminole County boundaries. Provisions and Next Steps Summary Next Steps During the review period for the MOU and water supply agreement, Guy Minter, Seminole County Deputy Attorney (407-665-5741), will coordinate directly with Participant legal/management staff for water supply review and comment as we work towards a finalized agreement. Although comments can be discussed at Participant meetings, Participants will need to transmit comments directly to their management far presentation to Seminole County. Capacity Reservation Schedule The draft water supply agreement includes a Capacity Reservation Schedule that is the basis for the annual take-or-pay amounts as well as the total capacity reservation for the project. The capacity reservation is intended to be a base-load capacity for this alternative water supply (AWS). The base load concept for this AWS assumes a conjunctive use project. Conjunctive use is the coordinated use of ground and surface water supply sources to provide a reliable water supply by meeting base-load AWS demands with surface water, combined with the use of groundwater authorized in each Participant's permits to cover peak demands. The original letters of intent for the Participants were completed in 2007. To update this process, and prepare for the estimates of the project development charge and initial water rater, Seminole requests that the Participants fill out the demand table, in the Capacity Reservation Schedule, with their updated base-load demands by March 30th so that Seminole can prepare to update the project financials. Determination of Project DeveloQment Charge and Initial Water Rate The Project Development Charge will be a function of a Participant's take or pay subscription as specified in the Capacity Reservation Schedule. Therefore, the next estimate of the Project Development Charge will be based on Participants who elect to continue with this project and agreement. It is anticipated that after agreement comments are received, that the next estimate of the capacities and development charge will be developed in April. The initial water rates to facilitate decision-making have been determined using the Yankee Lake Strategic Financial Planning Model. As with the development charge, the next estimate of the initial water rate will be based on the next round of Participant's capacity reservation, phased demands, and facility capacity. It is anticipated that after agreement comments are received, that the next estimate of the initial water rates be reviewed in mid- May at a financial model workshop for active Participants. This will allow Participants to have an estimated Project Development Charge and estimated Water Rate prior to MOU signature by June 15th and to allow for needed briefings and preparation over the summer for the Water Supply Agreement signatures by October 1, 2009.