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POWER PURCHASE AGREEMENT ("PPA") <br /> b. Additional Terms.Prior to the end of the Initial Term or of any applicable Additional Term, <br /> as defined below, if Purchaser has not exercised its option to purchase the System,either <br /> Party may give the other Party written notice of its desire to extend this Agreement on <br /> the terms and conditions set forth herein for the number and length of additional periods <br /> specified in Exhibit 1 (each such additional period, an "Additional Term"). Such notice <br /> shall be given, if at all, not more than one hundred twenty (120) and not less than sixty <br /> (60) days before the last day of the Initial Term or the then current Additional Term, as <br /> applicable. The Party receiving the notice requesting an Additional Term shall respond <br /> positively or negatively to that request in writing within thirty (30) days after receipt of <br /> the request. Failure to respond within such thirty (30) day period shall be deemed a <br /> rejection of the offer for an Additional Term. If both Parties agree to an Additional Term, <br /> the Additional Term shall begin immediately upon the conclusion of the Initial Term or <br /> the then current term on the same terms and conditions as set forth in this Agreement. <br /> If the Party receiving the request for an Additional Term rejects or is deemed to reject the <br /> first Party's offer, this Agreement shall terminate at the end of the Initial Term (if the <br /> same has not been extended)or the then current Additional Term. <br /> 4. Billing and Payment. <br /> a. Monthly Charges. Purchaser shall pay Seller monthly for the electric energy generated by <br /> the System and delivered to the Delivery Point at the$/kWh rate shown in Exhibit 1 (the <br /> "Contract Price"). The monthly payment for such energy will be equal to the applicable <br /> $/kWh rate multiplied by the number of kWh of energy generated during the applicable <br /> month, as measured by the System meter. <br /> b. Monthly Invoices. Seller shall invoice Purchaser monthly, either manually or <br /> electronically. Such monthly invoices shall state (i) the amount of electric energy <br /> produced by the System and delivered to the Delivery Point, (ii) the rates applicable to, <br /> and charges incurred by, Purchaser under this Agreement and (iii) the total amount due <br /> from Purchaser. The Contract Price includes electronic invoicing. If manual invoicing is <br /> required, Seller reserves the right to charge a twenty-five-dollar($25) handling charge to <br /> each invoice. <br /> c. Taxes. Purchaser shall either pay or reimburse Seller for any and all taxes assessed on <br /> the generation,sale,delivery or consumption of electric energy produced by the System <br /> or the interconnection of the System to the Utility's electric distribution system, <br /> excluding property taxes on the System;provided, however, Purchaser will not be <br /> required to pay or reimburse Seller for any taxes during periods when Seller fails to <br /> deliver electric energy to Purchaser for reasons other than Force Majeure or as a result <br /> of Purchaser's acts or omissions. For purposes of this Section 4(c), "Taxes" means any <br /> federal, state and local ad valorem,, occupation,generation, privilege, sales, use, <br /> consumption,excise,transaction, and other taxes, regulatory fees, surcharges or other <br /> similar charges, but shall not include any income taxes or similar taxes imposed on <br /> Seller's revenues due to the sale of energy under this Agreement,which shall be Seller's <br /> responsibility. No real estate taxes are anticipated by this agreement, but the seller <br /> shall be responsible for any real estate taxes caused by this system. Any Property taxes <br /> levied against the system will necessitate an adjustment in the Rate Recovery Fee to <br /> Page 9 of 49 <br />