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ARTICLE.III. PAYMENTS <br />A. Stand-By.-Water Service. As consideration for <br />stand-by water service, Customer shall pay an annual lump sum fee <br />of Three Thousand Six Hundred Dollars ($3,600.00). The first <br />payment shall be due <br />Subsequent payments shall <br />be due not later than the first day of January of each year. <br />B. Customer shall pay for water supplied at the rates <br />established by Purveyor's Commissioners. For water supplied <br />through the stand-by interconnection, Customer shall be charged <br />Twenty Six Dollars ($26.00) per one thousand (1,000) cubic feet <br />(MCF) of water. The rate may be adjusted proportionately <br />whenever the Board so adjusts its rate to other Lake County <br />customers served from the Aquarius Water Treatment Facility (West <br />Subdistrict). The adjusted rate shall become effective upon the <br />first monthly billing ninety (90) days following the Customer's <br />receipt of a written notice from the Board. <br />C. The Board shall bill and the Customer shall pay <br />the Board monthly the amount due the Board for the preceding <br />month based on actual meter reading. <br />D. Invoices. Invoices for water supplied under this <br />Agreement shall be paid within thirty (30) days of receipt. <br />Invoices presented pursuant to this section shall document <br />consumption with actual meter readings and the dates thereof. <br />ARTICLE IV. TERM <br />A. This Agreement shall not commence prior to the <br />occurrence of tha following events: I) Customer's installation <br />of the master meter and the pressure regulating check valve in <br />SOM Center Road; and 2) Purveyor's inspection and approval of <br />-4- <br />