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The City shall repay:. 37.95 percent of the total Project joint-use construction costs, $3,093,407.00 Interest during, construction $ 116.,127.00 Subtotal $3,209,534.00 Less credit for payments on principal made under basic Contract No. DA-34- 066-CIVENG,-65-1272 thru April 1977 $(-)85,326.69 Total remaining unpaid amount of Project investment costs $3,124,207.31 Plus interest accrued on Storage Space 146., 2 investment ' cost from 3.0 Sept 1977 to 1- April 1978 10,068,90 'Total Cost to be paid $3,134,275.31 The Project investment cost d1located to water supply storage to be paid under-this contract will be 'divided into 'the three p-arts corresponding-to the three increments of storage -space defined herein as follows: Present use storage, Storage Space No. 1 21,900 acre-feet 556,579.31 Storage Space No. 2 21,900 acre-feet 651,974.00 Future use storage 65,800 acre-feet -12925,722.00 Total 31134,275.31 W 21,900 acre-feet or 20.00 percent of the storage space in the Project between elevations 451.0 and 415.0 feet above mean s ea level is storage provided for present use by the City under the -basic Contract .No. DA-34-066-CIVFNG-65-1272 effective as of the date the Project was completed and 'available for water-.supply use as result of deliberate inpoundment, and hereinafter referred to as Storage Space No.' 1. The amount of the Project investment casts allocated to this storage space is $641,906 on the basis of the costs presented in exhibit A.* The amount. of the Project investment costs allocated to this storage shall be paid within 50 years from 30 September 1967, the date the Project was.first placed in operation for water supply services. By I April' 1977 the 'City has paid *85,326.69 in principal leaving *556,579.31 outstanding. The $556,579.31 shall be paid in 40 consecutive annual payments, the first of which shall be due and payable on I April 1978. A schedule- of payments is shown as Exhibit B, attached hereto and