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CA04016 <br />13. Annual Appropriation and Termination. This Agreement is subject to and contingent <br />upon the parties' annual budgeting and appropriation of funds, in accordance with law, <br />required to undertake their respective obligations for any particular calendar budget year. <br />This Agreement therefore may be terminated by either party due to a failure to budget <br />necessary funds by giving written notice to the other party. Summit County may also <br />ternninate this Agreement in its sole discretion if it determines not to proceed with the <br />Project. In the event that this Agreement is terminated by either party prior to the <br />completion of the Project, the River District shall be entitled to reimbursement from <br />Summit County for all completed work related to the Project and all work necessary to <br />conclude work in progress. <br />14. Term of Agreement. Subject to the parties' right to terminate this Agreement as provided <br />in paragraph 14, the term of this Agreement shall be five (5) years starting October 1, <br />2004 and ending September 30, 2009. <br />15. Amendment. No amendment of this Agreement shall be effective unless stated in writing <br />and executed by both parties. <br />16. No Beneficiaries. No third pariy beneficiaries to this Agreement or any of its rights are <br />intended by the parties or are created by this Agreement. <br />17. Severability. If any provision of this Agreement is held by a court of competent <br />jurisdiction to be invalid or unenforceable, then this Agreement, including all of the <br />remaining provisions, will remain in full force and effect as if such invalid or <br />unenforceable term had never been included. <br />18. Governing Law. This Agreement is made and performed in Colorado. The laws of the <br />State of Colorado shall be applied in the interpretation, execution, and enforcement of <br />this Agreement. The parties agree that the trial of any action arising out of any dispute <br />hereunder sha11 be in the District Court in and for the County of Summit, Colorado. <br />19. Binding Effect and Authorization. This Agreement shall be binding upon both parties <br />hereto and their respective heirs, executors, administrators, successors, and assigns. The <br />person(s) executing this Agreement on behalf of the parties represent and warrant that <br />they are fully authorized to do so and that all necessary actions have been taken to make <br />this Agreement fully binding upon the parties upon their execution thereof. <br />20. Assignment. Except as provided in subparagraph 4.C., this Agreement may only be <br />assigned to new entities with the written consent of both parties.