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3. In addition to the terms and conditions regarding an MVIC default to DWCD under the <br />D/M and T/HC Contracts, should MVIC be delinquent in any payments under these contracts, <br />MWIC shall: <br />a. pay a late fee of one -half percent (0.5 %) per month upon the balance of <br />unpaid payments to DWCD as long as any payment owed to DWCD continues to be <br />delinquent, in addition to paying default interest as set forth in the D/M and T/HC <br />Contracts. <br />b. allow DWCD to immediately shut off any Project water deliveries to <br />MVIC shareholders, including any deliveries of "Call Water," as defined under the T/HC <br />Contract, Article 10(d), no earlier than thirty (3 0) days following the receipt of written <br />notice from DWCD to MVIC setting forth the detail of any delinquency in payment and <br />the amount necessary to cure, including the arithmetic calculation thereof, until all <br />payments owed DWCD, including late fees and interest, are made. <br />C. use the proceeds from MVIC's Prudential Annuity /Anima Capitol Fund <br />( "Annuity ") to make not only payments owed CWCB under CWCB Loan Contracts 1 <br />and 2, but also payments owed DWCD under the D/M and T/HC Contracts. The <br />payments from the Annuity to DWCD and CWCB will be Pro rata, e.g., if, for the year in <br />question, the Annuity payment is $100,000, and MVIC owes DWCD $100,000 and <br />CWCB $200,000, under both CWCB Loan Contracts 1 and 2, DWCD would receive <br />$33,334 and CWCB would receive $67,773 from MVIC's receipt of the Annuity <br />