The above signed (hereinafter called the "Applicant") hereby applies for membership and agrees to purchase electric energy from IOWA LAKES ELECTRIC COOPERATIVE (hereinafter called the "Cooperative"), upon the following terms and conditions:
1. The Applicant will execute the application and when accepted by the Cooperative will constitute the Applicant's membership certificate.
2. Subject to rules of Chapter 15 (Co-generation and Small Power Production) of the Iowa Administrative Code, the Applicant will purchase all electric energy used on the premises covered by this application for membership and will pay at rates which will be fixed by Board of Directors of the Cooperative. The Applicant agrees to provide accurate meter readings to the Cooperative promptly each month as prescribed by the rules and regulations of the Cooperative when necessary or upon request.
3. The Applicant will comply with and be bound by the provisions of the Cooperative's Articles of Incorporation, By-Laws of the Cooperative, electric tariff, and such rules and regulations as may, from time to time, be adopted thereafter by the Cooperative.
4. Acceptance of this application and the furnishing of electric energy by the Cooperative to the Applicant will constitute an acceptance of the above offer to purchase electric energy and the contract between the Applicant and the Cooperative shall continue in force until cancelled, in accordance with the current electric tariff filed with Iowa Utilites Commission. Violation of any of the terms of this Agreement, By-Laws, electric tariff, or regulations promulgated by the Board of Directors may be grounds for immediate discontinuance of service in accordance with these rules and tariffs.
5. Applicant agrees to grant access to the premises to representatives of the Cooperative for inspection and to read meters, repair and maintenance of all Cooperative's lines and equipment, including permission to cut and trim trees, as necessary, and for inspection of Applicant's wiring and equipment as applicable.
6. If an Applicant does not promptly claim deferred patronage dividends when payable, the Cooperative is authorized to deduct an annual amount, to be set by the Board of Directors, to compensate the Cooperative for the expenses involved in bookkeeping and attempting to locate the Applicant or heirs.
7. The Cooperative is hereby granted a lien upon deferred patronage dividends to insure payment of all amounts owing the Cooperative and in the event of insolvency of the applicant or failure to pay any amounts due the Cooperative, the Cooperative has the right to set-off of deferred patronage dividends against amounts owing the Cooperative to the extent allowable by Federal and State Law.
8. Memberships may be issued in the name of an individual, a corporation, a partnership or other legal entity, a joint membership may be issued to a couple, requiring both to sign the application.
