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2 <br />the Distribution System. Transferor shall execute any additional documents that may be <br />or become necessary to effect the purposes of this Section 1.03. <br />1.04 Disclosure of Assets, Liabilities, and Real Estate Interests. Transferor shall <br />document for Transferee all assets to be transferred under this Agreement, along with a <br />description of any corresponding liabilities and real estate interests associated with each <br />asset. Transferor's assets, provided on Transferee's Section Sheet or GIS map depicting <br />the location of the assets, shall satisfy the documentation required in this Section. Such <br />documentation shall be attached as Exhibit "1" to this Agreement. <br />1.05 Future Capital Investments by Transferor. Should Transferor desire to <br />undertake water main replacements within the Distribution System, the parties may <br />execute an asset transfer agreement transferring said assets to Transferor. Upon <br />Transferor's satisfaction of all related liens, encumbrances, obligations, and claims, the <br />parties shall execute an asset transfer agreement transferring such assets back to <br />Transferee. <br />ARTICLE II. CONSIDERATION <br />2.01 Consideration. In consideration of the transfer of the Assets, Transferee <br />shall assume responsibility for cleaning, relining and other capital repairs and <br />replacements of the Distribution System, at Transferee's expense and in accordance with <br />the Restatement of the Water Service Agreement. Transferor shall not be entitled to any <br />monetary compensation for transferring ownership of the Assets to Transferee. <br />ARTICLE III. WARRANTIES AND REPRESENTATIONS OF TRANSFEROR <br />Transferor warrants and represents to Transferee that as of the date of this <br />Agreement: <br />3.01 Power and Authority. Transferor has full power and authority to execute <br />and perform this Agreement and the transactions and other agreements and instruments <br />contemplated by this Agreement. This Agreement and all other agreements and <br />instruments to be executed and delivered by Transferor, constitutes the legal, valid and <br />binding obligation of Transferor, enforceable in accordance with its terms. All consents, <br />approvals, authority and other requirements prescribed by law, rule or regulation, or any <br />contract, agreement, commitment or undertaking that must be obtained or satisfied by <br />Transferor for the execution, delivery and performance of this Agreement and the transfer <br />of the Assets contemplated by this Agreement have been obtained and satisfied. The <br />person signing this Agreement and all other agreements and instruments to be executed <br />and delivered by Transferor has been duly authorized to execute and deliver this <br />Agreement and such other agreements and instruments on behalf of Transferor. <br />3.02 No Conflicts: Defaults. Neither the execution and delivery of this Agreement <br />and the other related agreements and instruments to be executed and delivered by <br />Transferor, nor the performance by Transferor of the transactions contemplated under <br />