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Agreement. Each Participant is under obligation, on demand of the other, to render true and full <br />information and performance of all matters affecting the Plant and its operations under the terms of <br />this Agreement: <br />3.3 Duties of Managing Participant -In General <br />3.3.1 The Managing Participant shall'keep and maintain an accurate accounting system <br />based on accepted accounting standards that provides documentation of the costs of constructing and <br />operating the Plant. Such records shall be maintained for a minimum period of five (5) years and <br />as otherwise required by law. All such documents and records shall be available to the Participants <br />for inspection, copying or audit at reasonable times and places and upon reasonable notice. <br />3.3.2 The Managing Participant shall provide an adequate program to insure that the Plant <br />is maintained in a state of repair in a cost-effective manner, including a five (5) year Capital <br />Improvement Program, which shall be updated annually, and subject to review by the Participants. <br />3.3.3 The Managing Participant shall employ and supervise employees, agents, consultants <br />and contractors connected.with the Plant in a cost-effective manner by employing only those that are <br />reasonably necessary for proper operation and maintenance of the Plant. <br />3.4 Annual O&M Budget <br />The Managing Participant shall submit for review to all Participants, not later than sixty (60) <br />. f <br />days prior to the beginning of the Managing Participant's fiscal year, an estimated Annual Budget r <br />consisting of various departmental components that constitute the O&M expenditures. The <br />components are described in greater detail in Exhibits "E," Exhibit "E Pasadena" and Exhibit "E <br />A:1EWB10975.RV1 <br />L.D. File No. SOM146-01 <br />16 <br />February 9.2000 <br />