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6 .0 Compensation - In consideration of (a) the City' s ownership <br /> of White River Lock and Dam No. 1 , (b) the rights of the <br /> County to use the City' s FERC license or be the transferee <br /> of said license, and (c) the City' s efforts to pursue the <br /> development of Project 1 , the County will compensate the <br /> City as follows: <br /> 6. 1 Cost Reimbursement - The County will, within sixty <br /> (60) days after the closing of the sale of bonds for <br /> the final planning, design, equipment procurement <br /> and construction of Project 1 , make reimbursement directly <br /> to the White River Heritage Center Board (Board) for <br /> expenses incurred by the Board for past costs of evaluation, <br /> licensing and other expenses for Project 1 , however, said <br /> payment to the Board shall not exceed $50 ,000 . The County <br /> will also assume all costs pursuant to Sections 2 . 1 and 2 .2 <br /> of this Agreement. <br /> 6 . 2 Bond Issuance and Permitting Costs - The County will assume <br /> all costs for the efforts necessary for the issuance of <br /> 44W tax-exempt bonds for the Project and for any additional <br /> permitting and licensing costs for the Project, such <br /> payment to be in addition to the payment for costs set <br /> forth in Section 6 . 1 . <br /> 6 .3 Review Costs Reimbursement - The County agrees to reimburse <br /> I <br /> the City' s costs for review and comment on the County 's <br /> plans for development of the Project as described in <br /> Section 4 , not to exceed an amount of $50,000. Payment <br /> for such City costs will be on a reimbursement basis for <br /> documented incurred costs. The timing for such reimburse- <br /> ment will be based on a mutually approved schedule between <br /> the County and the City. <br /> 6. 4 Project Operation Payment - Upon commencement of commercial <br /> operation of Project 1 , and until final repayment and retire- <br /> ment of all bonds issued for financing of the Projects such <br /> term expected to expire approximately thirty years after <br /> commencement of commercial operation, the County will make <br /> a payment to the City equal to ten (10) percent of the Net <br /> Revenue received from the sale of power from all three of <br /> the Projects. Following repayment and retirement of all <br /> bonds for the Project§, the County will make a payment to <br /> the City equal to twelve (12) percent of the Net Revenue <br /> received by the County from all three Projects. Net Revenue <br /> will be defined as the amount of compensation received by <br />