Laserfiche WebLink
APPROVED BY <br />CITY OUNCIL <br />Date - -68' <br />FIRST AMENDMENT TO Item #�_ <br />POWER PURCHASE CONTRACT <br />THIS FIRST AMENDMENT TO POWER PURCHASE CONTRACT (this <br />"AMENDMENT") is executed as of the 15th day of January, 2008, between THE CITY OF <br />COLTON (the "CITY"), and NM COLTON GENCO, LLC, a Delaware limited liability <br />company ("SELLER"). <br />RECITALS <br />A. SELLER and CITY were parties to that certain Power Purchase Contract dated as <br />of December 3, 2002 (the "CONTRACT"), which expired by its terms on December 31, 2007. <br />B. Under the CONTRACT, SELLER sold and CITY bought all of the electric output <br />of SELLER's electric generation facility at the Colton Landfill. <br />C. SELLER was recently sold, and CITY and the new owner of SELLER wish to <br />continue in effect the terms of the CONTRACT through March 31, 2008, in order to allow <br />SELLER to evaluate the operations of the electric generation facility and to allow SELLER and <br />CITY to evaluate the feasibility and mutual desirability of a future agreement for the sale of <br />electricity by SELLER to CITY. <br />NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree as <br />follows: <br />1. Extended Term. Effective as of January 1, 2008, and retroactive to that date, <br />SELLER and CITY hereby agree to extend the term of the CONTRACT through March 31, 2008 <br />(the "EXTENSION PERIOD"). It is the intent of SELLER and CITY that the Extension Period <br />shall have commenced immediately upon the expiration of the original term of the CONTRACT, <br />so that the CONTRACT will have remained in effect without interruption. <br />2. Price. The price paid by CITY during the EXTENSION PERIOD shall be the <br />price for 2008 listed on Attachment A to the CONTRACT. <br />3. Waiver of Notice. SELLER and CITY waive all notice period and other <br />requirements in Article 2 of the CONTRACT to the extent necessary in order to allow the <br />extension effected by this AMENDMENT. <br />4. Full Force and Effect. Except as provided above, the CONTRACT is unmodified <br />by this AMENDMENT and remains in full force and effect. <br />5. Counterparts. This AMENDMENT may be executed in counterparts, which when <br />taken together, shall constitute a single instrument. <br />