1998-177-RES WHEREAS, CITY COUNCIL DID HERETOFORE ON THE 16TH DAY

Home Browse Search

ADDENDUM NUMBER ONE TO WATER SUPPLY AGREEMENT DATED SEPTEMBER 16,1998, BETWEEN PANDA PARIS POWER, L.P. AND THE CITY OF PARIS, PARIS, TEXAS STATE OF TEXAS ) ) COUNTY OF LAMAR ) KNOW ALL MEN BY THESE PRESENTS, that this "Addendum Number One to Water Supply Agreement dated September 16, 1998, between Panda Paris Power, L.P. and the City of Paris, Paris, Texas," is made this 14th day of December, 1998, by and between the CITY OF PARIS, PARIS, TEXAS, acting by and through its Mayor, Charles H. Neeley, duly authorized, hereinafter called CITY, and PANDA PARIS POWER, L.P., a Delaware limited partnership, acting by and through the authorized official whose signature appears below, hereinafter called PANDA. WITNESSETH It is hereby mutually agreed by and between CITY and PANDA that paragraph 13 of Schedule 5 be amended so that such shall read as follows: "13. Capital Expenditures Without the Issuance of Debt: Any capital expenditures by the City (other than as financed by debt as contemplated by Item 10 herein above) directly incurred to repair or improve the Water Supply Facilities. When Panda's pro rata share of a capital expenditure exceeds five percent (5%) of Panda's annual cost of Raw Water for the previous year ($25,000 for the first year of operations), such pro rata share will be amortized over a period of ten to twenty years as agreed to by the Parties (as such pro rata share is calculated pursuant to this Item and Item 4 in "Calculations" below). The Parties recognize that, in the event any such capital expenditure were to be incurred by the City in regard to the pipeline, the capital expenditure would be covered by Item 12 herein, subject to the provisions of the immediately preceding sentence." EXECUTED on the 14th day of December, 1998. CITY OF PARIS, PARIS, TEXAS, By: Charles H. Neeley, Mayor ATTEST: Mattie Cunningham, City Clerk r.XH1BjT A