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- Term of Agreement expires on December 31, 2029 <br /> - UNC has two 5-year options to extend the Term. If both options are exercised, the <br /> Agreement will expire December 31, 2039. <br /> Construction Milestones <br /> UNC agrees to work expeditiously and in good faith to achieve the following milestones: <br /> - Flare operational within 18 months <br /> - Conversion system operational within 34 months <br /> Provision in Current Agreement: <br /> - County may terminate if entire Project is not constructed in 5 years <br /> - Flare percentage adjusted upwards if conversion system is not operational in 35 <br /> months <br /> Rights Granted to UNC <br /> - Rights to LFG generated by Landfill during the Agreement's Term <br /> - Rights to environmental benefits (e.g., carbon credits) associated with generation, <br /> destruction, treatment, sale or use of LFG <br /> - License to access the Landfill <br /> - Easements across County-owned properties to construct LFG transport pipeline <br /> Easements <br /> - Closed MSW landfill on the south side of Eubanks Road <br /> - 14.71-acre tract immediately north and west of the jointly owned "Greene Tract" and <br /> south and east of landfill <br /> - 60-acre tract located north of the jointly owned "Greene Tract" <br /> - Parcel on Homestead Road that houses the Southern Human Services Center and the <br /> Seymour Center <br /> Operating Responsibilities <br /> - UNC is solely responsible for constructing, operating, maintaining, and repairing the <br /> LFG Project <br /> - The County is solely responsible for operating and maintaining the Landfill, exclusive of <br /> the LFG project <br /> - The Landfill's operations take precedence over the LFG Project's operations <br /> Commercial Terms: Economic Analysis <br /> - The commercial terms reflect an economic analysis that results in an equal sharing of <br /> project value between the County and UNC during the Term of the Agreement <br /> Commercial Terms: Monthly Payment <br /> - UNC will make monthly payments to the County that will be calculated as follows: <br /> Monthly Payment to County = Flare Gas: 5.3% of Heating Energy Content of LFG <br /> Energy Conversion Gas: 16.6% of Heating Energy Content of LFG <br /> X <br /> Natural Gas Index Price <br /> (capped at $9.00 per MMBtu and inflation-adjusted at 2% per year) <br />