Common use of Additional Obligations of the Parties Clause in Contracts

Additional Obligations of the Parties. a. As of the date of this Amendment, no sewers exist along the proposed PCW Transmission Lines. In addition to its obligations in the HCA, PCW agrees to provide the Town of Barnstable with compensation for increased sewer- construction costs associated with the Second Project in the amount of Two Million and Four Hundred Thousand dollars ($2,400,000). PCW will make such payment to the Town within thirty (30) days after the financial closing date of the Second Project, which shall mean for purposes of this Agreement, the closing of the construction financing for the Second Project by one or more institutional lenders which is anticipated to occur within one (1) year after the bid award. b. The Town of Barnstable affirms that the aforementioned payment provided will be for the entirety of the sewer-construction costs along the proposed PCW Transmission Lines route, consisting of: (a) Craigville Beach Road north of Craigville Beach, (b) the Four Seas Intersection, (c) Main Street and Old Stage Road in the Centerville Village Center, (d) the Old Stage Road and Route 28 intersection, (e) Old Stage Road and Shootflying Hill Road north of Route 28. c. PCW shall provide Five Million and Five Hundred Thousand dollars ($5,500,000) to the Town of Barnstable to improve roadways and sidewalks along the public ways under which PCW proposes to install Transmission Lines. This amount shall be paid to the Town on or before PCW commences construction of the Second Project as evidenced by PCW submitting an application to the Town for a road opening/trench permit. d. Subject to acceptance by the Superintendent of the Barnstable Public Schools, PCW shall make a donation of not less than Five Hundred Thousand dollars ($500,000) to the Barnstable Public Schools, to support the programming of Barnstable High School’s Environmental Science and Technology Lab. This donation shall be made within three (3) years after the financial close date of the Second Project. With the approval of the Barnstable School Committee, the Superintendent may also divert the funding for other similar uses at their sole discretion. PCW’s compliance with this provision is contingent on the Barnstable Public Schools’ acceptance of the proposed donation. e. PCW will provide compensation for affected businesses and cultural institutions directly on its preferred project onshore route located along the Second Project route in accordance with the process specified in Exhibit D. f. PCW and the Town acknowledge that Section 9(b) of the HCA requires that PCW make annual payments to the Town of Barnstable in an aggregate amount not to exceed Sixteen Million dollars ($16,000,000) (the “HCA Payment”). In consideration of the Town’s cooperation with PCW to advance the Second Project, PCW agrees to accelerate payment of the HCA Payment and pay the Town of Barnstable the entire Sixteen Million dollars ($16,000,000) within sixty (60) days after the financial close of the Second Project. Such payment shall be in lieu of any payments pursuant to Section 9(b) of the HCA.