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DMMEF Page 2 of 3 <br /> 7 <br /> and construction of the Seven Mile Reservoir water <br /> supply. <br /> The TOWN, after the passing of said referendum, will <br /> proceed with the appraisal and purchase of all proper- <br /> ties needed for reservoir construction. <br /> The TOWN will execute a payback agreement for utilized <br /> bond sale proceeds plus interest with the COUNTY, and <br /> will utilize the proceeds from the sale of the COUNTY <br /> bonds for the purchase of land and reservoir clearing <br /> inaccordance with earlier verbal understandings. The <br /> title for purchase of reservoir property will be held <br /> in escrow until the utilized bond sale- proceeds have <br /> been paid in full. <br /> The TOWN AND COUNTY will enter into an AGREEMENT with <br /> ORANGE-ALAMANCE WATER COMPANY relative to the supply of <br /> finished or raw water to ORANGE-ALAMANCE and the deve- <br /> lopment of alternative water supplies on watersheds <br /> other than ENO RIVER. <br /> • The TOWN will be the sole owner of the reservoir and <br /> water contained, and will withdraw and release reservoir <br /> water in accordance with the needs of the TOWN water <br /> supply system and for instream flow in accordance with <br /> the voluntary capacity use agreement between the parties. <br /> • IN WITNESS WHEREOF, the parties hereto have executed, or <br /> caused to be executed by their duly authorized officials, <br /> this AGREEMENT in copies each of which shall be <br /> deemed an original on the date first above written. <br /> TOWN: <br /> BY: <br /> NAME: <br /> TITLE: <br /> • <br /> (SEAL) <br /> ATTEST: <br /> NAME: <br /> TITLE: <br />