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WIfI?IZEAS, North Olmsted and Fairview Park, being authorized by Article <br />XVIII of the Ohio Constitution, are fully empowered to enter into this Capital <br />Agreement; <br />NOW, THEREFORE, in consideration of ttte premises and of the mutual <br />covenants hereinafter set forth, and of other good and valuable considera- <br />lions, Nortti Olmsted and Fairview Park hereby promise and agree that: <br />1.00 North Olmsted Funds. <br />1.01 Bond Retirement Fund. North Olmsted shall establish and main- <br />tain a separate account in its Bond Retirement -- Sewer Fund designated as the <br />"Bond Retirement -- Sewer Fund -- Fairview Park Joint Use Account" and may es- <br />tablish and maintain separate subaccounts therein. North Olmsted shall depos- <br />it: all amounts collected from Fairview Park as Capital Charges (other titan <br />amounts received as Capital Surcharges) under Section 3.00 of this Capital <br />Agreement in its Bond Retirement -- Sewer Fund -- Fairview Park Joint Use Ac- <br />count, attd that Account shall be used solely to pay principal of and interest <br />and loan payments on North Olmsted's Joint Use Facilities Debt. <br />1.02 Sewer Capital Improvement Fund. North Olmsted shall establish <br />and maintain a Sewer Capital Improvement Fund designated as the "Sewer Capital <br />Improvement Fund" and may establish and maintain separate accounts and subac- <br />counts therein. North Olmsted shall deposit all amounts collected from <br />Fairview Park as Capital Surcharges under Section 3.00 of this Capital Agree- <br />ment. in its Sewer Capital Improvement Fund, and that Fund shall be used solely <br />to pay costs of permanent improvements to ttte North Olmsted Sanitary Sewer <br />Sysi.em. <br />- 3 - <br />