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Article VI—BUDGET and COST-SHARING In consideration of the mutual promises herein contained it is hereby agreed that the cost of maintaining the Area Emergency Services Organization will be shared as described below. a) From the total amount of the annual budget there shall be deducted estimated revenue from federal "matching funds", state grants, and other service revenues. b) The balance of the annual budget remaining after anticipated revenues have been deducted shall be paid as follows: 1. The county shall pay 50% of the remaining balance. 2. The cities shall pay the remaining 50°Io of the balance, apportioned in accordance with the following formula: i. One half of said 50% to be apportioned by people units or population. a) Total population of all member cities divided into one-half of the total of the cities share of the budget equals a factor in cents. b) Population of each member city times the factor in cents equals the share for each city. ii. The remaining one-half of said 50% to be apportioned on the basis of assessed valuation as follows: a) Total assessed value of real and personal property in all member cities divided into one-half of the total of the cities share of the budget equals a factor in mils b) Assessed value of real and personal property of each member city times the factor in mils equals the share for each city c) For the purpose of this agreement the total assessed valuation of real and personal property in all contracting cities shall be the most recent such total maintained by the offices of the County Assessor. d) The figures used for population in each city shall be determined by a method and from a source that is mutually acceptable to the majority of inembers. e) It is understood and agreed that the financial obligations incurred by the county and the member cities under the provisions of this agreement will be incurred annually, subject to the limitation that the county and cities are financially able to make funds available. � If the members representing 25% or more of the county's population do not approve the budget in any fiscal year, the proposed budget will be referred back to the Area Emergency Services Coordinator and the Administrative Committee for revision and recommendation. If no resolution can be reached by the committee, the members may proceed to adopt budgets that provide those services they deem necessary for adequate emergency services protection as a whole, but any member shall be financially responsible for that portion of the budget unilaterally adopted. Any member which does not meet its financial commitment under an adopted budget will lose its voting status and such other privileges of inembership as the Council shall determine. Article VII-IN5URANCE a) The County shall add the Emergency Services Organization to its existing excess liability insurance coverage and shall maintain such coverage in full force and effect during the life of the agreement. Unless the Area Emergency Services Council decides otherwise, County shall provide for the defense of any claims or litigation within the$250,000 self- insured retention. Legal representation by the County will ordinarily be provided by the County Counsel. b) Any out of pocket expense or loss,by way of judgment or settlement, arising out of the operation of this Agreement, within the limits of the County's $250,000 self-insured retention shall be shared by the parties in accordance with the formula as described in Article VI(b). Article VIII-EFFECTIVENESS SMAOES December 2013 Page 11