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Asset Purchase and Transfer of Title Idaho Power {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 1 of 17 ASSET PURCHASE AND TRANSFER OF TITLE AGREEMENT This ASSET PURCHASE AND TRANSFER OF TITLE AGREEMENT (“Agreement”) is entered into to be effective as of the 8th day of November, 2017 (“Effective Date”), by and between IDAHO POWER COMPANY, an Idaho corporation (“Idaho Power”), and the CITY OF MERIDIAN, a municipality located in Ada County, Idaho (the “City”). Idaho Power and the City may be referred to herein individually as a “Party” or, collectively, as the “Parties.” RECITALS A. Idaho Power is an investor-owned electric utility engaged in the generation, transmission, and distribution of electricity to its customers in southern Idaho and eastern Oregon; B. The City is an Idaho Power customer with a Wastewater Division that operates and maintains a centralized Wastewater Treatment Facility located at 3401 North Ten Mile Road, Meridian, ID 83642 (“Wastewater Facility”); C. Idaho Power currently owns, operates and maintains facilities beyond the Point of Delivery at the City’s Wastewater Facility that are installed to solely benefit the Wastewater Facility (as more particularly described in this Agreement, the “Assets”). D. Idaho Power desires to transfer and convey the Assets to the City, and the City desires to obtain title to and assume ownership, maintenance, operation and all liabilities associated with the Assets pursuant and subject to the terms and conditions of this Agreement. E. Pursuant to Rule M (Facilities Charge Service) of Idaho Power’s Tariff (“Rule M”), Idaho Code § 61-328, and Oregon Revised Statute § 757.480, Idaho Power is required to obtain authorization and order from the Idaho Public Utilities Commission (“IPUC”) and the Public Utility Commission of Oregon (“OPUC”) approving Idaho Power’s sale of the Assets to the City (the “Sale”). The transfer of the Assets contemplated by this Agreement is contingent on Idaho Power receiving approval of the Sale and accounting treatment of the Sale from the IPUC and the OPUC (collectively, “PUCs”), without any changes or conditions to Idaho Power’s request and subject to the terms and conditions set forth in this Agreement. AGREEMENT NOW, THEREFORE, in consideration of the mutual obligations and undertakings set forth herein, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, Idaho Power and The City agree as follows: 1) Recitals. The above-stated Recitals are incorporated by this reference and made a part of this Agreement. 2) Assets. The Assets to be transferred to the City pursuant to this Agreement (and upon approval of the PUCs) are set forth in Exhibit A attached hereto and made part of this Agreement. {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 2 of 17 3) Purchase Price. The City shall pay to Idaho Power the amount of $761,693 for the Assets and sectionalizer modifications necessary to complete the purchase (“Purchase Price”). A summary breakdown of the Purchase Price is attached hereto as Exhibit B and made part of this Agreement. As demonstrated by Exhibit B, included in the Purchase Price are costs associated with a sectionalizer located at the Wastewater Facility (“Sectionalizer”) that Idaho Power will reprogram to become the Wastewater Facility’s Point of Delivery. The Sectionalizer is not being sold to the City; instead, Idaho Power will continue to own, operate and maintain the Sectionalizer. Upon Closing the Sale (defined in Section 6 of this Agreement), Idaho Power will make the necessary modifications to the Sectionalizer and cease collection of the facilities charge and any other charges associated with the Sectionalizer.1 The City acknowledges and confirms that: (a) the City has reviewed and fully understands the components of the Purchase Price; (b) the City does not contest such amount; and, (c) the Purchase Price is agreed upon between the Parties as of the Effective Date hereof. The City understands and acknowledges the Purchase Price is subject to change if Idaho Power is required to replace any of the Assets during such time as the Parties are awaiting approval from the PUCs. Unless the City requests otherwise, pursuant to Rule M of Idaho Power’s Tariff, Idaho Power is required to replace failed equipment owned by Idaho Power installed beyond the Point of Delivery. As such, until Closing (defined in Section 6 of this Agreement) occurs, Idaho Power must replace any failed Assets and the price of the substitute equipment will be reflected in the Purchase Price pursuant to the same methodology used to calculate the current Purchase Price. 4) Obligations and Conditions Precedent to Closing; Certain Covenants. The obligations and conditions listed below must be satisfied or waived in writing before the Parties are required to affect the transfer and sale of the Assets as contemplated by this Agreement (such event, “Closing”). a. IPUC and OPUC Approval. Within 30 days following execution of this Agreement, Idaho Power shall file an application for approval of the Sale and accounting treatment of the Sale with the PUCs, the contents of which shall be in Idaho Power’s discretion so long as not inconsistent with the material terms of this Agreement. Upon receipt of a final, non-appealable order from the PUCs pertaining to the Sale, Idaho Power shall provide the City with a copy of the same and: i. If the PUCs approve the Sale and accounting treatment of the Sale consistent in all material respects with the respective applications submitted to the PUCs by Idaho Power, the Parties shall proceed with the Sale of the Assets pursuant to the terms and conditions of this Agreement. 1 The costs associated with the Sectionalizer are not for the modification or reprogramming necessitated by the Sectionalizer becoming the City’s Point of Delivery; instead, the costs associated with the Sectionalizer are based on Idaho Power recovering its initial investment cost for the Sectionalizer. Pursuant to Rule M, the Sectionalizer was originally installed for the sole benefit of the City, and the City has since paid a monthly facilities charge to Idaho Power based on a percentage of Idaho Power’s initial investment cost. Because the City will no longer pay a monthly facilities charge, Idaho Power must recover the initial investment cost of the Sectionalizer through a lump sum payment from the City. {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 3 of 17 ii. If the IPUC approves the Sale and accounting treatment of the Sale subject to additional terms and conditions beyond those set forth in the application submitted to the IPUC by Idaho Power (as permitted by Idaho Code § 61-328), the Parties may either: i) mutually agree to incorporate the additional terms and conditions into this Agreement and proceed with the Sale;2 or ii) not mutually agree to incorporate the additional terms and conditions into this Agreement, in which case either Party shall have the right to terminate this Agreement by notice to the other Party, and upon such termination this Agreement shall be null and void and of no further effect and neither Party shall have any further obligations under this Agreement. iii. If the IPUC and/or the OPUC deny, or refuse to consider or approve, the Sale or the accounting treatment of the Sale consistent in all material respects with the application submitted by Idaho Power, either Party shall have the right to terminate this Agreement by notice to the other Party, and upon such termination the terms of this Agreement shall be null and void and of no further effect and neither Party shall have any further obligations under this Agreement. The City agrees to support Idaho Power’s applications to the PUCs for approval of the Sale. b. Lien Release. The Assets are subject to a lien created by a Mortga ge and Deed of Trust, dated October 1, 1937, between Idaho Power and Deutsche Bank Trust Company Americas (the “Mortgage”). Following receipt of a signed resolution adopted by Idaho Power’s Board of Directors, Idaho Power shall file a customary lien release application with the Mortgage trustee, requesting release of the Assets from the lien of the Mortgage in accordance with the terms of the Mortgage. Release of the lien by the Mortgage trustee, or the City’s waiver of the release of the lien of the Mortgage, shall be a condition precedent to the Closing and to the obligations of the Parties to consummate the Sale as contemplated by this Agreement. In the event no such release or waiver shall have timely occurred within 60 days of Idaho Power filing an application for release, either Party shall have the right to terminate this Agreement by notice to the other Party and, upon such termination, the terms of this Agreement shall be null and void and of no further effect, and neither Party shall have any further obligations under this Agreement. 5) Installation of Additional Facilities. Rule M of Idaho Power’s Tariff does not allow mixed ownership of facilities beyond the Point of Delivery. As such, t he City understands and acknowledges that if the City desires installation of additional facilities beyond the Point of Delivery prior to Closing (“Additional Facilities”), the City has the following options: 2 If the IPUC conditions its approval of the Sale on the inclusion of additional terms, and the Parties mutually agree to incorporate the same into this Agreement, Idaho Power will resubmit a revised application to the OPUC detailing the additional terms required by the IPUC. {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 4 of 17 a. Idaho Power purchases, installs and maintains the Additional Facilities. The Parties amend this Agreement with an updated Purchase Price to include the Additional Facilities, and Idaho Power updates its application and/or re-applies for approval of the Sale to the PUCs to include the Additional Facilities at the updated Purchase Price. Upon receipt of the PUCs’ decisions, the above Sections 4(a)(i), (ii) or (iii) would determine the next steps of the Parties; OR, b. The City purchases, installs and maintains the Additional Facilities. The City shall obtain written approval from Idaho Power prior to purchasing and installing Additional Facilities in order that Idaho Power can verify compatibility with its electrical system. In the event the IPUC and/or the OPUC fail to approve the Sale (as discussed in the above Sections 4(a)(ii) and (iii)), the City agrees to sell the Additional Facilities to Idaho Power at the original purchase price as soon as practicable following receipt of the PUCs’ decisions. The Additional Facilities will then be added to the City’s facilities charge pursuant to Rule M. If the City fails to obtain written approval prior to installing Additional Facilities, and those Additional Facilities are not standard to Idaho Power’s system, Idaho Power will not purchase the facilities from the City. Instead, Idaho Power will remove and replace the Additional Facilities, at the City’s expense, with those standard to its system and the City will be required to pay for the replacement facilities through its Rule M facilities charge. 6) Closing. The Parties agree that Closing shall occur as promptly as reasonably practicable following satisfaction of all conditions precedent set forth in Section 4 of this Agreement. At Closing: (a) Idaho Power shall receive from the City an automatic transfer of funds for the full Purchase Price (as specified in Section 3 above), ; (b) Idaho Power shall provide the City any keys, or other items in Idaho Power’s possession, received by Idaho Power as part of the original purchase and necessary for access of, and specific to, the Assets; (c) Idaho Power shall provide the City with maps of the location of the Assets, and any other operational manuals in Idaho Power’s possession, received as part of the original purchase of the Assets; (d) Idaho Power shall provide the City with an operational overview of the padmount switch being sold to the City as part of the Assets; and, (e) the Parties shall execute a bill of sale in the form of Exhibit C hereto. On or after Closing, Idaho Power shall cease collection of all distribution facilities investment (“DFI”) rate charges and any other charges for the Assets. The City acknowledges and agrees Idaho Power is providing an operational overview of the padmount switch at Closing as a courtesy pursuant to the City’s request; the City shall not rely on Idaho Power’s operational ov erview for purposes of understanding the necessary operation, maintenance or repairs associated with the padmount switch, and the City understands and agrees the overview of the padmount switch is subject to Sections 12 and 13 of this Agreement. Upon Closing, this Agreement will eliminate the Assets subject to DFI charges and will release Idaho Power’s responsibility for the care, custody and control of the Assets. 7) Transfer of Assets. Idaho Power shall grant, bargain, sell, assign, transfer, convey, and deliver to the City, its successors and assigns, all of Idaho Power's right, title and interest of every kind and character whatsoever in and to the Assets, effective as of Closing. {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 5 of 17 8) Operation and Maintenance. The City understands and acknowledges that pursuant to the requirements of Rule M of Idaho Power’s Tariff and Idaho Code § 61-328, the City has the bona fide intent and financial ability to operate and maintain the Assets, and the City shall be fully responsible for such operation and maintenance of the Assets, and all liabilities associated therewith, after Closing. 9) Title to Assets. Idaho Power, for itself and its successors, hereby represents to the City and its successors and assigns that as of the Effective Date hereof: a) Idaho Power has good, valid and marketable title to the Assets; b) the Assets are free and clear of all liens, encumbrances, claims, mortgages, security interests, pledges, charges, liabilities and other restrictions of any kind or nature whatsoever (contingent or otherwise), other than those of or created by the City, and other than the lien created by the Mortgage; c) the lien of the Mortgage on the Assets will not apply from and after the Closing; and d) Idaho Power has all necessary corporate power and authority to sell the Assets to the City (assuming approval of the Sale from the IPUC pursuant to Idaho Code § 61-328 and the OPUC pursuant to Oregon Revised Statute § 757.480). 10) Necessary Documents. Idaho Power covenants and agrees with the City, its successors and assigns, to do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, any acts, instruments, papers and documents as may be reasonably necessary to carry out and effectuate the intent and purpose of this Agreement. 11) Authority to Transfer. Idaho Power warrants and represents to the City that Idaho Power is duly and validly authorized and empowered to make, execute, and deliver this Agreement and to enter into the covenants, promises, and undertakings of Idaho Power in this Agreement, in accordance with the terms and subject to the conditions set forth in this Agreement. The City warrants and represents to Idaho Power that the City is duly and validly authorized and empowered to make, execute, and deliver this Agreement and to enter into the covenants, promises, and undertakings of the City in this Agreement, in accordance with the terms and subject to the conditions set forth in this Agreement. 12) Unwarranted “As Is” Condition. The Parties agree that to the extent required by any applicable law, the disclaimers of warranties contained in this paragraph are “conspicuous” disclaimers for the purposes of any applicable law, rule, or order. The City waives any claims, demands, and rights of action against Idaho Power, its officers, directors, employees and parent company arising from or relating to the Assets or the Sale other than the rights of the City under this Agreement, including the right to enforce this Agreement. THE CITY ACKNOWLEDGES AND AGREES THAT IT HAS HAD THE OPPORTUNITY TO CAREFULLY EXAMINE AND INSPECT THE ASSETS, AND/OR THAT IT HAS CAREFULLY EXAMINED AND INSPECTED THE ASSETS, AND ACCEPTS THE ASSETS IN THEIR “AS IS” AND “WHERE IS” CONDITION AND “WITH ALL FAULTS,” AND WITHOUT REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, (ALL OF WHICH IDAHO POWER HEREBY DISCLAIMS AND NEGATES) AS TO FITNESS FOR ANY PARTICULAR PURPOSE, CONFORMITY TO MODELS OR SAMPLES OR MATERIALS, MERCHANTABILITY, DESIGN, QUALITY, CONDITION, OPERATION, COMPLIANCE WITH SPECIFICATION, ABSENCE OF LATENT DEFECTS, OR COMPLIANCE WITH {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 6 of 17 LAWS AND REGULATIONS (INCLUDING, WITHOUT LIMITATION, THOSE RELATING TO HEALTH, SAFETY, AND THE ENVIRONMENT), TO THE EXTENT APPLICABLE AND PERMITTED BY LAW. 13) Release and Indemnification. Effective as of Closing, the City releases Idaho Power and its employees, officers, directors, representatives, and agents and/or its affiliates from, for, and against any and all claims, actions, damages, losses, penalties, and expenses, including reasonable attorneys’ fees and disbursements, of any kind or nature whatsoever arising out of Idaho Power’s acts or omissions or the acts or omissions of the City or any third party related to the transfer of the Assets hereunder. To the extent permitted by applicable law, the City shall indemnify, defend, reimburse and hold harmless Idaho Power and its successors, and their respective directors, officers, employees, representatives, and agents (collectively, the “Indemnitees”), from, for, and against any and all allegations, suits, claims, demands, actions, proceedings, judgments, penalties, liabilities, damages, injuries, losses, costs, or expenses of any kind or nature whatsoever (collectively, “Damages”) by any person, including without limitation attorneys’ fees and related costs, and liability of death, personal injury or property damages, strict liability, or liabilities or obligations under any applicable federal or state law, including, without limitation, all environmental laws, arising on or after the Closing directly or indirectly, in whole or in part, out of the City’s acquisition and use of the Assets. 14) Hazardous Materials and Indemnification. The City acknowledges that the Assets, including electronic equipment and components, may contain hazardous materials. These materials may include, but are not limited to, PCBs, lead in solder, batteries, and CRT glass, silver in some batteries and connections, and mercury in some batteries and mercury switches. Disposal of these components and electronic waste in general, may be regulated. The City is responsible for compliance with all applicable environmental laws, rules, and regulations associated with those and all other hazardous materials contained in or used in connection with the Assets from and after the Closing. The City shall indemnify, defend, reimburse and hold harmless the Indemnitees from, for, and against any and all Damages that any or all of the Indemnitees may hereafter suffer, incur, be responsible for, or pay out for liabilities or obligations under any law, ordinance, or regulation relating directly or indirectly to those and all other hazardous materials contained in or used in connection with the Assets, arising directly or indirectly, in whole or in part, out of the City’s acquisition and use of the Assets on and after the Closing. 15) Assignment. This Agreement shall only be assigned with the prior written consent of the Parties. Any purported assignment without such prior written consent shall be null and void. 16) Miscellaneous. To the extent that any provision of this instrument is held to be invalid, illegal, or unenforceable, it shall be deemed to be modified to the minimum extent necessary to be valid and enforceable. If it cannot be so modified, it will be deleted and the deletion will not affect the validity or enforceability of any other provision unless, as a result the rights of either Party are materially diminished or the obligations and burdens of either Party are materially {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 7 of 17 increased to be unjust or inequitable. Any inconsistency between the terms of this Agreement and any other Agreement to which Idaho Power and The City are a party on the Effective Date, as to the matters set forth in this Agreement, shall be resolved in favor of the terms of this Agreement, the terms of which shall govern. This Agreement and the covenants, agreements, undertakings, warranties and representations contained herein shall inure to the benefit of the successors and assigns of Idaho Power and the City. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement constitutes the entire Agreement between the Parties and supersedes any prior understandings, Agreements, or representations by or between the Parties, written or oral, in any way related to the subject matter of this Agreement. This Agreement may not be amended except by written Agreement executed by the parties to be charged with the amendment. [Signatures to follow] IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the Effective Date. IDAHO POWER COMPANY Signature %X Printed Name: Title: A—e L �'YI : rc, _ L Rr-jio�v CITY OF MERIDIAN Signature: Printed Name: Tc, Y de Title: M 4 yD - {00218830.DOCX; 51 City of Meridian — Asset Purchase and Transfer of Title Agreement Page 8 of 17 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 9 of 17 Description Year Original Investment Pole - Primary less than 50 Ft. 1997 $ 1,284.05 Pole - Primary less than 50 Ft. 2005 $ 1,611.98 Pole - Primary less than 50 Ft. 2005 $ 1,611.98 Pole - Primary less than 50 Ft. 2005 $ 1,611.98 Pole - Primary less than 50 Ft. 1979 $ 237.93 Pole - Primary less than 50 Ft. 1979 $ 237.93 Pole - Primary less than 50 Ft. 1979 $ 1,604.38 Pole - Primary less than 50 Ft. 2005 $ 2,465.53 Pole - Primary less than 50 Ft. 1999 $ 2,465.53 Pole - Primary less than 50 Ft. 1979 $ 237.93 Pole - Primary less than 50 Ft. 1999 $ 2,862.81 Pole - Primary less than 50 Ft. 1999 $ 2,862.81 Pole - Primary 50 Ft. or greater. 2007 $ 3,685.90 Pole - Primary 50 Ft. or greater. 2007 $ 3,685.90 Pole - Primary 50 Ft. or greater. 2008 $ 3,685.89 Pole - Primary 50 Ft. or greater. 2008 $ 3,685.89 Pole - Primary less than 50 Ft. 2008 $ 2,661.29 Pole - Primary less than 50 Ft. 2010 $ 2,194.85 Pole - Primary less than 50 Ft. 2012 $ 3,539.82 Pole - Primary less than 50 Ft. 2012 $ 3,539.82 Pole - Primary less than 50 Ft. 2012 $ 3,539.80 Pole - Primary less than 50 Ft. 2012 $ 3,539.82 Pole - Primary less than 50 Ft. 2012 $ 3,539.82 Pole - Primary less than 50 Ft. 2012 $ 3,539.82 Pole - Primary less than 50 Ft. 2012 $ 1,790.66 OH Primary Conductor 4/0 or smaller. 1999 $ 635.11 OH Primary Conductor 4/0 or smaller. 1999 $ 97.91 OH Primary Conductor 4/0 or smaller. 1997 $ 1,568.18 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 10 of 17 Description Year Original Investment OH Primary Conductor 4/0 or smaller. 1999 $ 275.94 OH Primary Conductor 4/0 or smaller. 1999 $ 206.95 OH Primary Conductor 4/0 or smaller. 1999 $ 146.00 OH Primary Conductor 4/0 or smaller. 1999 $ 696.05 OH Primary Conductor 4/0 or smaller. 1998 $ 783.45 OH Primary Conductor 4/0 or smaller. 1998 $ 163.05 OH Primary Conductor 4/0 or smaller. 1998 $ 163.05 OH Primary Conductor 4/0 or smaller. 1998 $ 34.96 OH Primary Conductor 4/0 or smaller. 1997 $ 1,043.79 OH Primary Conductor 4/0 or smaller. 1998 $ 34.96 OH Primary Conductor 4/0 or smaller. 1998 $ 80.34 OH Primary Conductor 4/0 or smaller. 1998 $ 317.35 OH Primary Conductor 4/0 or smaller. 2008 $ 90.55 OH Primary Conductor 4/0 or smaller. 2008 $ 416.51 OH Primary Conductor 4/0 or smaller. 2008 $ 416.51 OH Primary Conductor 4/0 or smaller. 2008 $ 110.47 OH Primary Conductor 4/0 or smaller. 2008 $ 458.15 OH Primary Conductor 4/0 or smaller. 2012 $ 74.65 OH Primary Conductor 4/0 or smaller. 2012 $ 191.17 OH Primary Conductor 4/0 or smaller. 2012 $ 83.71 OH Primary Conductor 4/0 or smaller. 2012 $ 75.79 OH Primary Conductor 4/0 or smaller. 2012 $ 50.90 Switch - Pole Top. 2005 $ 5,824.02 Pad - Equipment. 2005 $ 287.80 Pad - Equipment. 1999 $ 2,105.00 Pad - Equipment. 2005 $ 1,435.77 Pad - Equipment. 2005 $ 1,435.77 Pad - Equipment. 2010 $ 1,238.99 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 11 of 17 Description Year Original Investment Pad - Equipment. 2012 $ 1,317.54 Pad - Equipment. 2013 $ 1,650.03 Pad - Equipment. 2013 $ 1,650.02 Pad - Equipment. 2015 $ 1,408.87 Pad - Equipment. 2015 $ 1,408.87 Pad - Secter 3 Phase. 2013 $ 1,560.60 Vault - Manhole. 2012 $ 2,023.36 Vault - Manhole. 2012 $ 2,545.97 Vault - Manhole. 2005 $ 2,915.04 Vault - Manhole. 2005 $ 2,915.04 Vault - Manhole. 2015 $ 3,821.65 Vault - Manhole. 2015 $ 2,279.78 Vault - Manhole. 2015 $ 3,821.65 Vault - Manhole. 2015 $ 2,279.77 Handhole (Secondary Box). 2012 $ 360.93 Conduit Direct Buried. 2015 $ 128.90 Conduit Direct Buried. 2015 $ 837.84 Conduit Direct Buried. 2015 $ 412.48 Conduit Direct Buried. 2015 $ 1,224.54 Conduit Direct Buried. 2015 $ 2,900.22 Pad - Secter 3 Phase. 2015 $ 2,470.50 Pad - Equipment. 2015 $ 2,516.41 Conduit Direct Buried. 2015 $ 1,240.09 Conduit Direct Buried. 2015 $ 87.95 Conduit Direct Buried. 2016 $ 498.21 UG Primary Cable - 15kV. 2005 $ 148.28 UG Primary Cable - 15kV. 2005 $ 231.68 UG Primary Cable - 15kV. 2005 $ 454.76 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 12 of 17 Description Year Original Investment UG Primary Cable - 15kV. 2005 $ 227.38 UG Primary Cable - 15kV. 2005 $ 357.31 UG Primary Cable - 15kV. 2005 $ 43.32 UG Primary Cable - 15kV. 2010 $ 2,072.06 UG Primary Cable - 15kV. 2012 $ 792.18 UG Primary Cable - 15kV. 2013 $ 2,984.25 UG Primary Cable - 15kV. 2013 $ 3,945.85 UG Primary Cable - 15kV. 2013 $ 497.38 UG Primary Cable - 15kV. 2013 $ 961.59 UG Primary Cable - 15kV. 2015 $ 956.18 UG Primary Cable - 15kV. 2015 $ 2,061.76 UG Primary Cable - 15kV. 2015 $ 1,135.46 UG Primary Cable - 15kV. 2015 $ 3,496.03 UG Primary Cable - 15kV. 2015 $ 489.77 UG Primary Cable - 15kV. 2015 $ 1,265.23 UG Primary Cable - 15kV. 2016 $ 4,755.95 Secter 3 Phase. 2015 $ 2,957.64 Secter 3 Phase. 2015 $ 1,569.95 Secter 3 Phase. 2013 $ 1,822.74 UG Secondary. 2012 $ 637.20 Switch - Padmount. 2005 $ 25,986.42 Transformer - OH 1PH (0-15) kVA. 2005 $ 748.47 Transformer - OH 1PH (0-15) kVA. 2005 $ 748.47 Transformer - OH 1PH (0-15) kVA. 2005 $ 748.47 Transformer - OH 1PH (0-15) kVA. 2012 $ 2,001.53 Transformer - OH 1PH (0-15) kVA. 2012 $ 2,001.53 Transformer - OH 1PH (0-15) kVA. 2012 $ 2,001.54 Transformer - Padmount 3PH (112-166) kVA. 2013 $ 19,372.98 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 13 of 17 Description Year Original Investment Transformer - Padmount 3PH (167-499) kVA. 2013 $ 29,312.05 Transformer - OH 1PH (16-49) kVA. 2005 $ 1,008.18 Transformer - Padmount 1PH (16-49) kVA. 2005 $ 1,977.03 Transformer - Padmount 3PH (167-499) kVA. 2005 $ 9,288.14 Transformer - Padmount 3PH (1500-2499) kVA. 2005 $ 16,344.41 Transformer - Padmount 3PH 2500 kVA and larger. 2005 $ 35,567.78 Transformer - Padmount 3PH (500-1499) kVA. 2007 $ 12,428.77 Transformer - Padmount 3PH (500-1499) kVA. 2010 $ 26,562.90 Transformer - Padmount 3PH (1500-2499) kVA. 2012 $ 45,987.07 Transformer - Padmount 3PH (16-111) kVA. 2015 $ 12,629.93 Transformer - Padmount 3PH (112-166) kVA. 2015 $ 13,412.63 Transformer - Padmount 3PH (112-166) kVA. 2015 $ 22,733.10 Transformer - OH 1PH (50-74) kVA. 2017 $ 2,766.47 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Fused Cut-Out. 2000 $ 101.78 Switch - Solid Blade Cut-Out. 2013 $ 303.68 Switch - Solid Blade Cut-Out. 2013 $ 303.67 Switch - Solid Blade Cut-Out. 2013 $ 303.67 Switch - Fused Cut-Out. 2005 $ 162.21 Switch - Solid Blade Cut-Out. 2005 $ 157.45 Switch - Solid Blade Cut-Out. 2005 $ 157.46 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 14 of 17 Description Year Original Investment Switch - Solid Blade Cut-Out. 2005 $ 157.46 Switch - Solid Blade Cut-Out. 2005 $ 157.46 Switch - Solid Blade Cut-Out. 2005 $ 157.46 Switch - Solid Blade Cut-Out. 2005 $ 157.46 Switch - Power Fuse. 2005 $ 328.19 Switch - Power Fuse. 2005 $ 328.19 Switch - Power Fuse. 2005 $ 328.19 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.35 Switch - Solid Blade Cut-Out. 2008 $ 324.34 Switch - Fused Cut-Out. 2010 $ 177.88 Switch - Fused Cut-Out. 2010 $ 177.87 Switch - Fused Cut-Out. 2010 $ 177.87 Switch - Fused Cut-Out. 2012 $ 172.00 Switch - Fused Cut-Out. 2012 $ 172.00 Switch - Fused Cut-Out. 2012 $ 172.01 Switch - Fused Cut-Out. 2012 $ 381.75 Switch - Fused Cut-Out. 2012 $ 381.75 Switch - Fused Cut-Out. 2012 $ 381.75 Switch - Fused Cut-Out. 2015 $ 277.43 Switch - Fused Cut-Out. 2015 $ 277.43 Switch - Fused Cut-Out. 2015 $ 277.42 EXHIBIT A ASSETS {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 15 of 17 Description Year Original Investment UG Service. 2000 $ 1,384.90 UG Service. 2005 $ 4,235.83 UG Service. 1998 $ 755.87 UG Service. 2005 $ 338.87 OH Service. 2017 $ 624.51 {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 16 of 17 EXHIBIT B SUMMARY BREAKDOWN OF PURCHASE PRICE Purchase Price Components Amounts Net book value $ 353,091 True up of past levelized rate of return $ 81,280 Near-term rate of return impact resulting from sale of assets $ 63,903 Near-term operational impact resulting from sale of assets $ 83,783 Total Purchase Price – before tax $ 582,057 Net gross-up for tax $ 161,432 Total Purchase Price – after tax $ 743,489 Work order closing costs $ 480 Total Purchase Price $ 743,969 Sectionalizer Components Amounts Sectionalizer book value $ 9,882 Sectionalizer true-up past levelized rate of return $ 4,776 Total Price – before tax $ 14,658 Net gross-up for tax $ 3,066 Sectionalizer Total $ 17,724 Total Amount Due $ 761,693 EXAMPLE ONLY – DO NOT EXECUTE {00218830.DOCX; 5} City of Meridian – Asset Purchase and Transfer of Title Agreement Page 17 of 17 EXHIBIT C BILL OF SALE This BILL OF SALE is entered to be effective on , 2017 (“Effective Date”), by and between Idaho Power Company, an Idaho corporation (“Idaho Power”) and the City of Meridian, a municipality located in Ada County, Idaho (the “City”). Idaho Power and the City may be referred to herein individually as a “Party” or, collectively, as the “Parties.” Idaho Power has agreed sell to the City and the City has agreed to purchase from Idaho Power, for the consideration and upon the terms and conditions set forth in the Asset Purchase and Transfer of Title Agreement, dated , 2017 (“Purchase Agreement”) all of the Assets set forth in Exhibit A to the Purchase Agreement. Pursuant to the requirements of Rule M of Idaho Power’s Tariff, Idaho Code § 61-328, and Oregon Revised Statute § 757.480, Idaho Power has obtained authorization and order from the Idaho Public Utilities Commission and the Public Utility Commission of Oregon approving Idaho Power’s sale of the Assets (set forth in Exhibit A to the Purchase Agreement) pursuant to the terms and conditions of the Purchase Agreement. Idaho Power hereby transfers title to the Assets and acknowledges payment for the Assets, in the amount of $743,969, is governed by and shall be made in accordance with the terms and conditions of the Purchase Agreement. IN WITNESS WHEREOF, the undersigned have executed this BILL OF SALE to be effective as of the Effective Date. IDAHO POWER COMPANY Signature: _________________________________ Printed Name: _________________________________ Title: _________________________________ CITY OF MERIDIAN Signature: _________________________________ Printed Name: _________________________________ Title: _________________________________