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<br /> <br />~ <br /> <br />. <br /> <br />. <br /> <br />r <br /> <br />'. <br /> <br />7. <br /> <br />All water released from Azure Reservoir shall, <br /> <br />unless impracticable, be released through the power plant, <br />and all power produced from Azure Power Plant shall be marketed <br />upon terms and conditions mutually satisfactory to the Sub- <br />district and River District by an entity to be selected by <br />the Subdistrict and River District. Revenues produced from <br />the marketing of said power shall be applied in the following <br />order: <br /> <br />First: To payment of all annual operation and <br />maintenance costs associated with Azure Reservoir and <br />Power Project including the maintenance of adequate contin- <br />gency funds. <br />Second: To payment of annualized debt service <br />(including therein preconstruction costs and those costs <br />incurred by Subdistrict pursuant to paragraph 16) <br />incurred by the Subdistrict in the construction of Azure <br />Reservoir and Power Plant for the repayment period of <br />any bonds issued to finance the Azure Reservoir and <br />Power Project. <br />Third: To payment to Middle Park for hydroelec- <br />tric power produced from Middle Park water released <br />pursuant to paragraph 9, subparagraph First. <br />Fourth: All S1llllS remaining after the payments <br />contemplated in subparagraphs First, Second and Third <br />(or after retirement of all debt described in subparagraph <br />Second) shall be divided equally between Subdistrict and <br />River District to be utilized as they may individually <br />determine; or, Subdistrict may elect to receive its one <br />half of the revenues in electrical energy or to have its <br />one half of any such revenues applied to the payment of <br />its power costs for the Windy Gap Project. <br />8. Title to the Azure Reservoir and Power Project <br />facilities or alternate facilities contemplated hereunder <br />will be transferred by Subdistrict to River District upon <br /> <br />-7- <br /> <br />" <br /> <br />0942 <br /> <br />