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SECTION 5 14 Amount of Rates, Fees and Charges The City will at all times fix, prescribe and collect rates, fees and charges for the Water Service which are reasonably fair and nondiscriminatory and which will be at least sufficient to yield Net Water Revenues during the next succeeding Fiscal Year of the City equal to the sum of one hundred twenty percent(125%) of the Debt Service for such Fiscal Year, provided, however, for purposes of calculating Net Water Revenues under this Section 5 14, Water Revenues will mean the aggregate of the Adjusted Water Revenues plus an amount of connection fees and charges not exceeding twenty five percent(25%) of such Adjusted Water Revenues The City may make adjustments from time to time in such rates, fees and charges and may make such classification thereof as it deems necessary, but shall not reduce the rates, fees and charges then in effect unless the Net Water Revenues from such reduced rates, fees and charges will at all times be sufficient to meet the requirements of this section SECTION 5 15 Collection of Rates, Fees and Charges. The City will have in effect at all times rules and regulations requiring each consumer or customer located on any premises connected with the Water System to pay the rates, fees and charges applicable to the Water Service to such premises and providing for the billing thereof and for a due date and a delinquency date for each bill The City will not permit any part of the Water System or any facility thereof to be used or taken advantage of free of charge by any corporation, firm or person, or by any public agency (including the United States of America, the State of California and any city, county, district, political subdivision,public corporation or agency of any thereof), provided, that the City may without charge use the Water Service SECTION 5 16 Eminent Domain and Insurance Proceeds If all or any part of the Water System shall be taken by eminent domain proceedings, or if the City receives any insurance proceeds resulting from a casualty loss to the Water System, the Net Proceeds thereof, at the option of the City, shall be applied either to the prepayment of the 2017 Installment Sale Payments as provided in Section 3 03 or shall be used to substitute other components for the condemned or destroyed components of the Water System SECTION 5 17 [Reserved] SECTION 5 18 Further The City will adopt, deliver, execute and make any and all further assurances, instruments and resolutions as may be reasonably necessary or proper to carry out the intention or to facilitate the performance hereof and for the better assuring and confirming unto the Authority of the rights and benefits provided to it herein ARTICLE VI EVENTS OF DEFAULT AND REMEDIES SECTION 6 01 Events of Default and Acceleration of Principal The following are an Event of Default under this 2017 Installment Sale Agreement (1) if default shall be made in the due and punctual payment of any 2017 Installment Sale Payment when and as the same shall become due and payable, 15 2762682 3