Document:

20190930 EX 10_83_2

		

			 

		

		

			 

		

		
			AMENDMENT NO. 2 TO EKLUTNA POWER PURCHASE AGREEMENT
		

		
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			This AMENDMENT NO. 2 TO EKLUTNA POWER PURCHASE AGREEMENT,
		

		
			dated as of the 28th day of October, 2019 (this "Eklutna  PPA Amendment"),    is made and entered into by and between (i) CHUGACH ELECTRIC ASSOCIATION, INC., an Alaska not-for-profit electric cooperative corporation ("Purchaser"), and (ii) the MUNICIPALITY OF ANCHORAGE, a political  subdivision  organized  under  the laws of the State of Alaska ("Seller"). Purchaser and Seller are hereinafter referred to individually as a "Party" and collectively as the "Parties".
		

		
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			RECITALS
		

		
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			WHEREAS, Purchaser and Seller entered into that certain Eklutna Power Purchase Agreement dated as of December 28, 2018 (the "Eklutna PPA");
		

		
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			WHEREAS, Section 15.7 of the Eklutna PPA provides that Purchaser and Seller may amend the Eklutna PPA upon the execution and delivery of a written agreement executed by each Party; and
		

		
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			NOW, THEREFORE, pursuant to Section 15.7 of the Eklutna PPA and in consideration for the premises and agreements hereinafter set forth, the Parties, intending to be legally bound, agree as follows:
		

		
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			1.Revision to Section 10.1. Section 10.1 of the Eklutna PPA is deleted in its entirety and replaced with the following:
		

		
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			Section 10.1Dispute Resolution. In the event of any dispute arising under this PPA (a "Dispute"), within ten (10) Business Days following Notice by either Party, (i) each Party shall appoint a representative, and (ii) the representatives shall meet, negotiate and attempt in good faith to resolve the Dispute quickly, informally and inexpensively. In the event the representatives cannot resolve the Dispute within thirty (30) Days after the first meeting, either Party may request that consideration and resolution of the Dispute be transferred to a designated representative of each Party's senior management. Within ten (10) Days following such a request, each Party shall submit a written summary of the Dispute describing the issues and claims to a senior officer of each Party designated to address the Dispute. Within ten (10) Business Days after receipt of each Party's Dispute summaries, the senior management representatives for both Parties shall negotiate in good faith to resolve the Dispute. If such senior management representatives are unable to resolve the Dispute within thirty (30) Days thereafter, either Party may pursue any available legal remedies.
		

		
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			2.Effective Date and Incorporation of Terms of Eklutna PPA. This Amendment shall be deemed effective as of the Effective Date as defined in Exhibit A to the Eklutna PPA and, without in any way limiting the effect of the amendment set forth in Section 1 of this Amendment, shall be subject to all the terms and conditions of the Eklutna PPA.
		

		
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			Amendment No. 2 to Eklutna PPA

		

		

			dated as of December 28, 2018 between 

		

		

			Municipality of Anchorage and Chugach Electric Association, Inc.

		

 

		

			 

		

		

			 

		

		3.Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Amendment delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Amendment.
		

		
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			2

		

		

			Amendment No. 2 to Eklutna PPA

		

		

			dated as of December 28, 2018 between 

		

		

			Municipality of Anchorage and Chugach Electric Association, Inc.

		

 

		

			 

		

		

			 

		

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			IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed as of the date first written above by their respective officers and officials thereunto duly authorized.
		

		
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						MUNICIPALITY OF ANCHORAGE, ALASKA

				
	
					
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						By    /s/ William D. Falsey

					
						Name:  William D. Falsey

					
						Title:  Municipal Manager

				
	
					
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						CHUGACH ELECTRIC ASSOCIATION, INC.

				
	
					
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						By    /s/ Lee D. Thibert

					
						Name:  Lee D. Thibert

					
						Title:  Chief Executive Officer

				

		
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			Signature Page to

		

		

			Amendment No. 2 to Eklutna PPA

		

		

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			Municipality of Anchorage and Chugach Electric Association, Inc.20190930 EX 10_84_1

		

			 

		

		
			AMENDMENT NO. 1 TO PAYMENT IN LIEU OF TAXES AGREEMENT
		

		
			THIS AMENDMENT NO. 1 TO PAYMENT IN LIEU OF TAXES AGREEMENT, dated as of the 27th day of September, 2019 (this “Amendment”), between the Municipality of Anchorage, Alaska, a political subdivision organized under the laws of the State of Alaska (“Municipality”), and Chugach Electric Association, Inc., a not-for-profit electric cooperative corporation organized under the laws of the State of Alaska (“Chugach”).
		

		
			RECITALS
		

		
			WHEREAS, Chugach and Municipality entered into that certain Payment in Lieu of Taxes Agreement, dated as of December 28, 2018 (the “Original PILT Agreement”);
		

		
			WHEREAS, capitalized terms used in this Amendment, if not otherwise defined herein, shall have the meanings set forth in the Original PILT Agreement, as amended or modified pursuant to this Amendment (as so amended or modified, the “PILT Agreement”);
		

		
			WHEREAS, pursuant to Section 3.08 of the Original PILT Agreement, Chugach and Municipality may amend, modify or supplement the Original PILT Agreement upon the execution and delivery of a written agreement executed by each party thereto; and
		

		
			WHEREAS, the Chugach and Municipality desire to make certain amendments to the Original PILT Agreement as provided in this Amendment.
		

		
			NOW, THEREFORE, pursuant to Section 3.08 of the Original PILT Agreement and in consideration for the premises and agreements hereinafter set forth, the parties hereto, intending to be legally bound, agree as follows:
		

			
	
			
				 1.
			New Definitions.  The following definition is added to Article I of the Original PILT Agreement:

		
			“Net ML&P Classified Plant in Service” means the net book value of ML&P classified and unclassified plant in service within the Municipality of Anchorage as of the Closing Date, including contributed plant but not including intangible plant and construction work in progress.
		

			
	
			
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			Revised Definitions.  The following definitions in Article I of the Original Agreement are replaced in their entirety as follows:

		
			“Adjusted Net Book Value” means, for any year, the product of (i) the Net ML&P Classified Plant in Service located within each district in the Legacy Territory as of the Closing Date and (ii) the Overall Plant in Service Change.
		

		
			“Net Plant in Service” means the net book value of plant in service, exclusive of contributed plant, intangible plant and construction work in progress.
		

		
			“Overall Plant in Service Change” means a fraction of which (i) the numerator is the Net Plant in Service of Chugach located within the Municipality of Anchorage as of 
		

		 

		

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			Amendment No. 1 to Payment in Lieu of Taxes Agreement

		

		

			dated as of December 28, 2018 between 

		

		

			Municipality of Anchorage and Chugach Electric Association, Inc.

		

 

		

			 

		

		January 1 of the current year, and (ii) the denominator is the sum of (a) ML&P’s Net Plant in Service in the Legacy Territory that is located within the Municipality of Anchorage on the Closing Date plus (b) Chugach’s Net Plant in Service in the Chugach legacy territory that is located within the Municipality of Anchorage on the Closing Date.
		

			
	
			
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			Amendment to Exhibit A.Exhibit A of the Original PILT Agreement is hereby deleted in its entirety and replaced with Exhibit A, attached hereto.

			
	
			
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			Effective Date of this Amendment. Except as expressly provided herein, the Original PILT Agreement is not amended, supplemented, modified, revised or otherwise affected by this Amendment. This Amendment shall be deemed effective and in full force and effect as of the date first written above. On and after the date hereof, each reference in the Original PILT Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Original Agreement, shall mean and be a reference to the Payment In Lieu Of Taxes Agreement and each reference to the Payment In Lieu Of Taxes Agreement in any other agreements, documents or instruments executed and delivered pursuant to or in connection with the Payment In Lieu Of Taxes Agreement shall be deemed to mean and be a reference to the Payment In Lieu Of Taxes Agreement as amended by this Amendment.

			
	
			
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			Binding Effect. This Amendment shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns.

			
	
			
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			Governing Law.  This Amendment shall be governed by and construed in accordance with the internal laws of the State of Alaska, without reference to conflicts of laws principles that would result in the application of the laws of any other jurisdiction.

			
	
			
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			Counterparts.  This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Amendment delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

		
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			Amendment No. 1 to Payment in Lieu of Taxes Agreement

		

		

			dated as of December 28, 2018 between 

		

		

			Municipality of Anchorage and Chugach Electric Association, Inc.

		

 

		

			

		

		IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first written above by their respective officers and officials thereunto duly authorized.
		

			
					
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						MUNICIPALITY OF ANCHORAGE, ALASKA

				
	
					
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						By /s/ William D. Falsey_________________

					
						Name:  William D. Falsey

					
						Title:  Municipal Manager

				
	
					
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						CHUGACH ELECTRIC ASSOCIATION, INC.

				
	
					
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						By /s/ Lee D. Thibert___________________

					
						Name:  Lee D. Thibert

					
						Title:  Chief Executive Officer

				

		
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			Signature Page to

		

		

			Amendment No. 1 to Payment in Lieu of Taxes Agreement

		

		

			between

		

		

			Municipality of Anchorage and Chugach Electric Association, Inc.

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