Operations and Maintenance Funding Commitments Clause Samples

Operations and Maintenance Funding Commitments. The Parties agree that the Licensee will contribute $30,000 annually to the U.S. Forest Service (USFS) for the purposes of assisting with the operation and maintenance of six public recreation sites in Uwharrie National Forest that provide direct access to the Yadkin Project reservoirs (Badin Lake Campground, Cove Boat Ramp, Kings Mountain Point, Deep Water Trail Access, ▇▇▇▇’▇ Cabin, Badin Lake Hiking Trail). The use of these funds by the USFS for any purpose other than the operation, maintenance, or construction of new facilities at the recreation sites listed above will require the concurrence of the Licensee. In the first year following issuance of New License, the funds will be made available within six months of the effective date of the New License. Thereafter, the funds will be made available no later than January 31 of each year. The Parties agree that the Licensee will contribute $35,000 annually to NCWRC for the purposes of assisting with the operation and maintenance of seven NCWRC public recreation sites that provide direct access to the Yadkin Project reservoirs (Bringle Ferry Boat Access, Flat Creek Boat Access, Flat Creek Fishing Access, Old Whitney Fishing Pier, Dutch Second Creek Boat Access, Circle Drive, Lakemont Boat Access). The use of these funds by the NCWRC for any purpose other than the operation, maintenance, or construction of new facilities at the recreation sites listed above will require the concurrence of the Licensee. In the first year following issuance of a New License, the funds will be made available within six months of the effective date of the New License. Thereafter, the funds will be made available in July of each year. All payment amounts specified in dollars in this section shall be deemed to be stated as of the year 2008, and such sums shall be escalated as of January 1 of each following year (starting in January 2009) according to the formula set forth in Section 2.3.9.