Groundwater Storage and Recovery Payments. PEF shall pay “Groundwater Storage and Recovery Payments” of $125 per AF of Tejon Water delivered to Groundwater Storage when elected by PEF. Payments under this Section 7.3 shall cover the storage and recovery of the Tejon Water in Groundwater Storage and its delivery to Pastoria from Groundwater Storage. The Annual Option Payment (discussed in Section 7.1 above) will be credited to Groundwater Storage and Recovery Payments.
Tejon shall invoice PEF monthly for Groundwater Storage and Recovery Payments for Tejon Water stored in the KWB. Payment of said invoices for Groundwater Storage and Recovery Payments shall include future recovery from KWB and delivery to PEF. The balance owed for Groundwater Storage and Recovery Payments in excess of Annual Option Payment shall be paid within 30 days of receipt of invoice from Tejon.
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