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SECTION 5. As a further consideration for the rights, privileges and authorities granted
<br /> by this ordinance, the Company shall, throughout the period in which Company shall exercise
<br /> the rights, privileges and authority granted by this ordinance furnish to the said Municipality,
<br /> annually, compensation in the amount of$220,960 (payable in 12 equal monthly payments by
<br /> the 15`h of each month, beginning within 30 days of the acceptance of this Agreement by the
<br /> municipality). Municipality may request a revision to the compensation amount after five years
<br /> from the date of passage of this Agreement if Municipality has a reasonable belief that its
<br /> population has increased or decreased by 3% or more. Municipality must request the revision at
<br /> least 60 days prior to the next anniversary date. If Company confirms that the number of
<br /> customers served by the System within Municipality's corporate limits has increased or
<br /> decreased by 3% or more, the compensation amount will be revised by that percentage for the
<br /> next and succeeding payments. Municipality may request similar revisions to compensation
<br /> amounts under these criteria in additional five year periods throughout the term of this
<br /> Agreement.
<br /> SECTION 6. If, at any time, during the term of this Agreement, Municipality permits
<br /> another entity or person to provide gas distribution or similar services, and Company reasonably
<br /> believes the other entity or person is granted more favorable treatment, terms, or conditions, then
<br /> Company shall notify Municipality of such treatment, terms, or conditions. Alternatively, if
<br /> Municipality reasonably believes the other entity or person grants Municipality more favorable
<br /> treatment, terms, or conditions, then Municipality shall notify Company of such treatment, terms,
<br /> or conditions. Upon receipt of such notice, Municipality and Company shall negotiate in good
<br /> faith to amend this Agreement to provide Company or Municipality such more favorable
<br /> treatment, terms or conditions on an equivalent basis. Such amendment shall take into
<br /> consideration all circumstances that distinguish between Company and the entity or person
<br /> receiving the more favorable or less favorable treatment, terms, or conditions.
<br /> SECTION 7. The rights, privileges and authority hereby granted shall inure to and be
<br /> vested in Company, its successors and assigns, successively, subject to all of the terms,
<br /> provisions and conditions herein contained, and each of the obligations hereby imposed upon
<br /> Company shall devolve and be binding upon its successors and assigns, successively, in the
<br /> same manner.
<br /> SECTION 8. This Agreement shall confer no right, privilege or authority on Company,
<br /> its successors or assigns, unless Company shall within ninety (90) days after due notice to the
<br /> Company of the enactment of this Agreement, file with the City Clerk an acceptance of the
<br /> terms and provisions hereof; provided, however, that if such acceptance be not so filed within
<br /> said period of ninety (90) days, all rights, privileges, and authority herein granted shall become
<br /> null and void.
<br /> SECTION 9. All rights, privileges and authority given and granted by this Agreement
<br /> are granted for a term of twenty (20) years from and after the acceptance of this Agreement as
<br /> hereinafter provided (the "Initial Term"), and thereafter on a year-to-year basis (each a
<br /> "Subsequent Term") unless either the Company or Municipality notifies the other in writing of
<br /> its desire to terminate this Agreement at least six (6) months prior to the expiration of the Initial
<br /> Term or any Subsequent Term.
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