Exhibit 10.50
SERVICE AGREEMENT NO. 38074
CONTROL NO. 930905-0183
FSS SERVICE AGREEMENT
THIS AGREEMENT, made and entered into this 1st day of November, 1993,
by and between COLUMBIA GULF TRANSMISSION COMPANY ("Seller") and NORTH CAROLINA
NATURAL GAS CORPORATION ("Buyer").
WITNESSETH: That in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:
Section 1. Service to be Rendered. Seller shall perform and Buyer shall
receive service in accordance with the provisions of the effective FSS Rate
Schedule and applicable General Terms and Conditions of Seller's FERC Gas
Tariff. Second Revised Volume No. 1 (Tariff), on file with the Federal Energy
Regulatory Commission (Commission), as the same may be amended or superseded in
accordance with the rules and regulations of the Commission. Seller shall store
quantities of gas for Buyer up to but not exceeding Buyer's Storage Contract
Quantity as specified in Appendix A, as the same may be amended from time to
time by agreement between Buyer and Seller, or in accordance with the rules and
regulations of the Commission. Service hereunder shall be provided subject to
the provisions of Part 284.223 of Subpart G of the Commission's regulations.
Buyer warrants that service hereunder is being provided on behalf of Buyer.
Section 2. Term. Service under this Agreement shall commence as of
November 1, 1993, and shall continue in full force and effect until October 31,
2004, and from year to year thereafter unless terminated by either party upon
six (6) months written notice to the other prior to the end of the initial term
granted or any anniversary date thereafter. Pre-granted abandonment shall apply
upon termination of this Agreement, subject to any right of first refusal Buyer
may have under the Commission's regulations and Seller's Tariff.
Section 3. Rates. Buyer shall pay Seller the charges and furnish
Retainage percentage set forth in the above-referenced Rate Schedule and
specified in Seller's currently effective Tariff, unless otherwise agreed to by
the parties in writing and specified as an amendment to this Service Agreement.
Section 4. Notices. Notices to Seller under this Agreement shall be
addressed to it at Post Office Box 1273, Charleston, West Virginia 25325-1273,
Attention: Director, Transportation and Exchange and notices to Buyer shall be
addressed to it at 150 Rowan Street, P O Box 909,Fayetteville, NC 28302,
Attention: President, until changed by either party by written notice.
Section 5. Prior Service Agreements. This Agreement is being entered
into by the parties hereto pursuant to the Commission's Order No. 636 and its
orders dated July 14, 1993 and September 29, 1993, with respect to Seller's
Order No. 636 compliance filing and relates to the following existing Service
Agreements:
SERVICE AGREEMENT NO. 38074
CONTROL NO. 930905-0183
CDS Service Agreement No. 36065, effective November 1, 1989, as it may
have been amended, providing for a bundled sales, transportation and
storage service under the CDS Rate Schedule.
The terms of Service Agreement No. 38074 shall become effective as of the
effective date hereof, however, the parties agree that neither the execution nor
the performance of Service Agreements 38074 shall prejudice any recoupment or
other rights that Buyer may have under or with respect to the above-referenced
Service Agreements.
NORTH CAROLINA NATURAL GAS CORP COLUMBIA GAS TRANSMISSION CORPORATION
By: /s/ Gerald A. Teele By: /s/ George E. Shriver
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Title: Senior Vice President Title: Director T&E
Revision No.
Control No. 1993-09-05 - 0183
Appendix A to Service Agreement No. 38074
Under Rate Schedule FSS
Between (Seller) COLUMBIA GAS TRANSMISSION CORPORATION
and (Buyer) NORTH CAROLINA NATURAL GAS CORP
Storage Contract Quantity 223,238 Dth
Maximum Daily Storage Quantity 5,199 Dth per day
CANCELLATION OF PREVIOUS APPENDIX A
Service changes pursuant to this Appendix A shall become effective as of
November 01, 1993. This Appendix A shall cancel and supersede the previous
Appendix A effective as of N/A, to the Service Agreement referenced above. With
the exception of this Appendix A, all other terms and conditions of said Service
Agreement shall remain in full force and effect.
NORTH CAROLINA NATURAL GAS CORP
By /s/ Gerald A. Teele
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Its Senior Vice President
Date November 24, 1993
COLUMBIA GAS TRANSMISSION CORPORATION
By /s/ George E. Shriver
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Its Dir. T&E
Date 12/2/93