Exhibit 10
WATER SERVICE AGREEMENT
BETWEEN
MIDDLESEX WATER COMPANY
AND
ELIZABETHTOWN WATER COMPANY
THIS AGREEMENT made this 28th day of February, 2006,
BETWEEN
ELIZABETHTOWN WATER COMPANY, a public utility and corporation
organized
under the laws of the State of New Jersey, with its principal office
131 Woodcrest Road, Cherry Hill, County of Camden, State of New
Jersey,
hereinafter referred to as "ELIZABETHTOWN,"
AND
MIDDLESEX WATER
COMPANY, a public
utility and
corporation
organized
under the laws of the State of New Jersey, with its office 1500 Ronson
Road, Iselin,
Woodbridge Township,
County of Middlesex,
State of New
Jersey,
hereinafter referred to as "MIDDLESEX,"
WHEREAS, MIDDLESEX
desires to obtain an
additional supply of
potable
water for its use and for that of its customers; and
WHEREAS, ELIZABETHTOWN
has a Rate
Schedule No. 8,
"Service to Other
Systems Under Contract," filed under authority of the New Jersey
Board of Public
Utilities, and
MIDDLESEX desires to obtain a supply of
water under that
rate
schedule and subject to its provisions, as may be amended and
supplemented under
approval of the New Jersey Board of Public Utilities; and
WHEREAS, ELIZABETHTOWN
and MIDDLESEX
presently have an
Agreement for
water supply dated April 28, 1995 as extended by agreement dated December 21,
2005, and the parties desire to have this Agreement supersede the said extended
Agreement;
NOW, THEREFORE,
in consideration of
the mutual promises and covenants
herein, it is agreed by the parties hereto as follows:
1. Effective upon the execution of this Agreement, ELIZABETHTOWN
agrees
to sell, deliver and
transport to MIDDLESEX
3,000,000 gallons of potable water
per day and MIDDLESEX
agrees to accept and pay for a minimum daily quantity of
water in the amount of
3,000,000 gallons per
day (MGD) from the water sources
and supplies of
ELJZABETHTOWN
at the rate set forth
in Rate Schedule
No. 8,
"Service to Other Systems Under Contract," and subject to its
provisions as they
may be amended and supplemented under approval of the New Jersey
Board of Public
Utilities.
<PAGE>
If available in ELIZABETHTOWN's reasonable determination,
ELIZABETHTOWN
will allow
MIDDLESEX to take, on an as needed basis, as much water as
ELIZABETHTOWN is
capable of providing
without affecting the minimum daily
quantity requirement.
2. The initial obligation of both parties to perform in accordance
with
the terms and
conditions of this contract shall begin upon the date of
signing
this contract
and expire
five (5) years from
said date,
provided that this
agreement shall renew
for additional five
(5) year periods unless either party
gives notice to the
other no later than one (1) year before the end of the then
current term.
3. All water supplied to MIDDLESEX by ELIZABETHTOWN shall be
metered by
meters owned and
maintained by
ELIZABETHTOW
