EXTENSION TO THE TERM TO THE EXCLUSIVE LICENSE AGREEMENT for EXCESS OFFSET CREDITS GENERATED by the LAKE ELSINORE AERATION & MIXING SYSTEM (LEAMS)
This Extension of the Term to the EXCLUSIVE LICENCE AGREEMENT for EXCESS OFFSET CREDITS generated by the LAKE ELSINORE AEARATION & MIXING SYSTEM (LEAMS) (hereinafter the “License Agreement”) is made by and among the COUNTY OF RIVERSIDE (“COUNTY”), the CITY OF LAKE ELSINORE (“CITY”), the ELSINORE VALLEY MUNICIPAL WATER DISTRICT (“DISTRICT”) and the LAKE ELSINORE AND SAN JACINTO WATESHEDS AUTHORITY (“AUTHORITY”). The COUNTY, CITY, DISTRICT and AUTHORITY are hereinafter collectively referred to as the “PARTIES.” This Extension of the Term to the License Agreement, once executed by all PARTIES, becomes effective on ____________________.
RECITALS
a. The License Agreement became effective on _____________, after it was executed by all PARTIES.
b. The License Agreement relates to the operation of LEAMS, which is intended to improve water quality in Lake Elsinore by improving the average concentration of dissolved oxygen. This in turn helps to reduce the average concentration of nitrogen and phosphorus (“nutrients”) in the lake. The nutrient reductions generated by LEAMS are considered approved “offset credits” provided LEAMS is operated in accordance with the requirements of the DISTRICT’s NPDES permit.
c. The annual costs to operate and maintain LEAMS is shared equally between the CITY, DISTRICT and COUNTY pursuant to a separate Agreement for the Operation and Maintenance of the Lake Elsinore Aeration and Mixing Systems. For the purpose of this Extension to the Term of the License Agreement, these cost-sharing partners are identified collectively as “OPERATORS.”
d. Starting before the effective date of the License Agreement, the operation of LEAMS typically generates more offset credits than the OPERATORS need, with some limited exceptions for total nitrogen in certain years, in order to assure their own compliance with the TMDL’s nutrient load restrictions. Therefore, the OPERATORS desire to continue licensing some of the excess offset credits to other stakeholders, when available. e. The License Agreement authorizes the AUTHORITY, as the OPERATORS’ exclusive agent, to offer other TMDL stakeholders an exclusive license to purchase and use available LEAMS offset credits for any lawful purpose subject to all provisions of the License Agreement.
f. The License Agreement expired on June 30, 2022. Per the License Agreement, the date of expiration may be extended by agreement of the PARTIES in writing. g. The PARTIES desire to extend the term of the License Agreement for an additional term of five years.
EXTENSION TO THE TERM TO THE EXCLUSIVE LICENSE AGREEMENT FOR
EXCESS OFFSET CREDITS GENERATED BY LEAMS
AGREEMENT
Now, therefore, in consideration of the foregoing Recitals, the PARTIES agree as follows:
1. The term of the License Agreement shall be extended for an additional term of five years until June 30, 2027, unless the PARTIES agree, in writing, to extend that date.
2. All licenses purchased prior to the expiration date of June 30, 2027, shall remain valid.
3. All other terms of the License Agreement shall remain the same and in effect as applicable.
4. This Extension to the Term of the License Agreement may be signed in separate counterparts, each of which is an original and all of which, taken together, form one single binding document.
In witness whereof, the PARTIES hereby have made and executed this License Agreement as of the day and year first above written.
For the CITY OF LAKE ELSINORE:
Date Mayor
Approve As To Form:
Date City Attorney
For the ELSINORE VALLEY MUNICIPAL WATER DISTRICT (EVMWD):
Date President, Board of Directors
Approve As To Form:
Date Counsel for EVMWD
For the COUNTY OF RIVERSIDE:
Date Chairman, Board of Supervisors
Approve As To Form:
Date Counsel for the County of Riverside
Attested:
Date Clerk for the Board of Supervisors
EXTENSION TO THE TERM TO THE EXCLUSIVE LICENSE AGREEMENT FOR
EXCESS OFFSET CREDITS GENERATED BY LEAMS
For the LAKE ELSINORE SAN JACINTO WATERSHEDS AUTHORITY:
Date Chairman, Board of Directors