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JDK:bc: 10/10/'88 <br />costs of groundwater production as listed in the most recent <br />OCWD Engineer's Report prepared pursuant to Section 31.5(a) <br />of the QCWD Act, plus the replenishment assessment imposed by <br />OCWD pursuant to the authority contained in Section 27 of the <br />OCWD Act, and any additional replenishment assessments which <br />may be imposed by OCWD pursuant to the authority contained in <br />Section 27.1 of the OCWD Act, which replenishment assessments <br />and additional replenishment assessments are established in <br />April of each year but do not become effective until the <br />following July of each year. The parties mutually recognize <br />and agree that the area groundwater cost may change each year <br />during the term of this Agreement, as a function of changes <br />in the cost of operation and maintenance, energy, the <br />replenishment assessment levied by OCWD, and the levy of any <br />additional replenishment assessment by GCWD. <br />2.6 The governing body of RETAILER shall establish the <br />rate for the resale of Project Water to each Project <br />Customer, in an amount not to exceed eighty percent (80%) of <br />the "notable water" rate established by RETAILER. <br />2.7 RETAILER shall read the Project Water meter for <br />each Project Customer on a sixty (60) day cycle. The Project <br />Water meter reading date shall coincide with RETAILER'S <br />reading of the meter which measures the quantity of potable <br />water delivered by RETAILER to the Project Customer that <br />month. Within sixty (60) days thereafter, RETAILER shall <br />transmit to OCWD a statement setting forth the Project Water <br />rate established by RETAILER pursuant to paragraph 2.,6 during <br />-11- <br />