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7 . made a part hereof. After approval "of this supplemental agreement annual installments will become_ due and payable on 1 April each year, mid such installments shall include accrued interest due on the unpaid valance of the investment cost at the rate provided above. The last installment shall be adjusted upward or downward when due to assure repayment of all the investment costs allocated to this storage space within 50 years from 30 September 1967. (3) The Project investrent costs allocated to Stora,e Space No. 2, 21,900 acre -feet of future tire stora;c space or 20.00 percent of the storage sr-ace in the Project between elevation - .451.0 and 415.0 feet above -mean sea level, is $651,974, including; $10,068 in interest from 30 September 1977 (encl of 10 year interest free period) to 1 April 1978, on the basis of the cost presented in ' Exhibit "A '.. The amount of the Project investment costs.allocated to Storage Space No. 2 shall be -paid in 50 consecutive annual installments. The first use of. this block of storage will. _ commence on 1 April 1973, at which time the first annual* payment will be made. Annual installments thereaft6r will. be clue and payable on the first day of April. Ex -cept for the first payment which. trill be applied solely to the retirement of principal., all - installments shall include accrued interest on the unpaid balance at the rate provided . above„ In' the event the first payrient is made after l April 1978, that payment will include interest on the. payment at the rate specified herein -from 1 April- 1978 until such payment is made: The last annual installment shall be adjusted upward or. downward when due to assure repayment of all the investment -costs allocated to the storage within 50. years.- A schedule o£ anneal payments is attached as Exhibit "C" of this contract. f (4). The amount of the Project investment costs allocated to the remaining 65,800 acre -feet of the future use storage space or 60.00 percent of storage space in the Project between elevations . 451.0 and 415.0 feet alcove mean sea level is $1,925,722 on the . basis of. the costs. presented in rxhibi..t "A ". The amount to be paid for any portion of such storage which is used shall he determined . by multiplying the percentage of the total storage for future.water supply which is placed in use by the total amount of the Project investment costs allocated. to future water supply. Interest at the rate provided above -will be charted oa the account of the Project *investment costs allocated to this storag;e'for future water supply from 30 Se-rtember. 1977 (end of the ten year interest free period) until the time when. such storage is first used. The City may at its option pay the interest as it becomes due or allow the- interest to accumulate until tiie stor. gia . is used. If this latter option is exercised,-the interest will be compounded - iinually -and added to the principal amount. When 'my portion of the future-use storage is used, payment of both principal and interest.for the portion used must be started, and the amount of the Project investment costs allocated thereto, with interest on the unpaid. balance as provided above, shall be paid within the life of the Project in not to exceed 50 consecutive