RecD06 2006-150659 - Laserfiche WebLink

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such termination occur, the parties hereto shall fulfill those obligations already incurred prior to termination pursuant to paragraph 8 above. In the event any party hereto desires to terminate this Agreement, Notice ofIntention to terminate shall be given by City in the manner provided by Government Code Section 65867; and the termination of this Agreement shall be effected, on behalf of City and District, by motion of the City Council, also acting as the Board of Directors of the District, at a regularly scheduled meeting noticed as described above. (b) Upon termination of this Agreement, the City's right to collect Facilities Charges and to maintain the Fund established by paragraphs 5 and 6 of this Agreement will cease, except as necessary to complete construction projects for which Fund monies have been committed prior to termination, and/or to reimburse Keech pursuant to paragraph 8 above, unless otherwise agreed to by the parties and approved as an amendment in accordance with paragraph 14. As of the date of termination of the Agreement or termination of the Fund, whichever comes later, any monies remaining in the Fund shall be disposed of in the following manner and priority: to complete Facilities for which Fund monies (as opposed to commitments of Keech) have been committed; to reimburse Keech pursuant to paragraph 8 above; and finally, toward retirement of the debt service of GID 1-64 bond obligations. 12. Title to Public Improvements. It is understood and agreed by the parties hereto that upon acceptance by the City Council, title to the facilities will vest in the City. 13. South Shores Development. Intentionally omitted. 14. Amendments. Except for matters left herein to the future mutual agreement of the parties, including, but not limited to revisions to the Rate Schedule not exceeding the capped increases set forth in Section 6(c) above, the cost estimates and proposed list of Facilities and time schedules for construction of the public facilities described in Exhibit A and Exhibit Band the determinations of the parties as to whether or which Facilities to construct and the method of financing such construction in accordance with the provisions of paragraph 8 above, this Agreement may be amended by mutual consent of all parties, confirmed by ordinance of the City Council, at a public hearing for which notice has been given in accordance with Government Code Section 65867. 15. Assignment. Nothing herein shall prevent Keech from conveying all or part of its interest in any of the real property which is the subject of this Agreement and its rights under this Agreement to any purchaser( s), either directly or indirectly, of all or any portion of such real property, subject to the covenants described in this Agreement. 16. Right to Audit. Keech shall have the right to audit, during regular business hours, the books and records of District relative to the collection of charges hereunder, the construction of the facilities and to the operation of the Fund. City and District shall have the right to audit, during regular business hours, the books and records of Keech relating to the advancement of funds for, or construction by it of any of the Facilities hereunder. KP A TTON :mds:RSP .4345\Agreement.DOC F:Atty/ Agr/ AmendGID64.8 071003 8