Commitment to Provide Water Service for Future Development Sample Clauses

Commitment to Provide Water Service for Future Development. As noted above, Two Rivers and TRW are in the business of acquiring, developing, managing and administering water rights and water resources for agricultural, energy, and future municipal uses. TRW, as assignee of Two Rivers, is acquiring the Water Rights to use those Water Rights initially for agricultural purposes, but with the commitment to MWI, as more particularly set forth below, to convert them to municipal water rights to be used to support MWI's development of the Land. MWI, directly or through its assigns, intends in the future to subdivide and develop the Land for uses which include, but are not limited to, a mixed commercial, industrial, residential, recreational and other mixed use development (the "Future Development"). Subject to the time frame set forth below, upon written notice from MWI to TRW that the Future Development will need water service (a "Water Service Request"), TRW agrees to use all commercially reasonable efforts to finalize the provision of potable water for municipal water supplies and service to the Future Development from the Water Rights transferred to TRW pursuant to the Purchase Agreement, which is currently estimated to provide in excess of 5,000 single family equivalent ("SFE") water service taps ("Taps"). The term SFE is not intended to limit the application of the Water Rights for the benefit of only single family homes, but is used as an engineering term of measurement which is customarily used in the industry. TRW shall reserve for the benefit of MWI the annual consumptive use water associated with the Water Rights, as finally determined by the Water Court, which amount is estimated to be sufficient to supply water to MWI for approximately 5,000 SFEs. Subject to its rights under Paragraph 2(c) below, TRW shall not commit to provide any other water, or to serve any other use, with water from the Water Rights (other than for irrigation as provided in paragraphs 8 and 9 herein), unless and until this reservation and obligation to MWE is completely satisfied. In addition, TRW's long-term plans include efforts to acquire additional water rights within this area which would in significant part be stored in the Orlando Reservoir No. 2 and could augment TR.W's ability to provide water service to the Future Development. However, TRW's obligations hereunder are limited to providing water to the Future Development (following the Water Service Request as set forth above) as may be produced from the Water Rights with competen...
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Related to Commitment to Provide Water Service for Future Development

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