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WATER SUPPLY CONTRACT <br />Page 7 <br />pay the invoice within thirty (30) days of receipt The price for each type of water <br />will be reviewed and set annually by the River District's Enterprise Board of <br />Directors (which decision normally will be made prior to March 1 each year). Any <br />annual increase m the contract price shall not exceed the then-current published <br />Consumer Price Index (CPI) plus New Growth Index (NGI). <br />• , <br />Contractor also shall pay' any special assessment levied by the River District on <br />Contractor to recoup all or a portion of costs attributable to extraordinary <br />Maintenance incurred by the River District or assessed upon the River District by its <br />third party water <br />4. Contract Term. <br />CW09002 <br />a. Except in the event of an early termination or partial termination as provided for in <br />paragraph. 6 below and subject to the other terms and conditions of this Contract, the <br />term of this Contract shall be for a period of - up to forty (40) years from the date of <br />the execution of this Contract (through June 30, 2049). <br />b. At the end of the 40-year term of this Contract (June 30, 2049) the Contractor shall <br />have the right to renew this Contract for the same Contracted Water amount for a <br />secondary term of thirty-five (35) years, upon such terms and conditions as the liver <br />District is offering at that time, provided that the River District is offering up the full <br />amount of Contracted Water for lease. In the event that the River District, on a non- <br />' discriminatory basis, decides not to offer up the full amount of the Contracted Water <br />for lease, Contractor shall have the right to renew for a secondary term of thirty-five <br />(35) years such lesser portion of the Contracted Water as maybe offered by the River <br />District If Contractor desires to so renew this Contract, it shall provide the River <br />District written notice of its intention to do so at least ninety (90) days prior to the <br />expiration of the initial term of this Contract. Thereafter, and prior to the expiration <br />of the initial term, the River District and Contractor shall execute a supplemental <br />agreement of renewal in a form mutually acceptable to the River District and <br />Contractor. - If such notice of intention to renew is not provided and such <br />supplemental agreement is not executed, no renewal term commence. <br />5. Water Shortage. In the event that the River District is unable, because of either legal or <br />physical reasons (inducting, but not limited to, hydrologic shortages and operational <br />restrictions), to deliver any or all of the full amount of water contracted from the Project, <br />including the Contracted Water, the River District reserves the right to apportion the <br />Project's available water among its several contractors, including Contractor, in the manner <br />provided in paragraph 6 of the Water Marketing Policy.' <br />