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<br />. <br /> <br />. <br /> <br />V. Modifications. <br /> <br />This Memorandum of understanding may be modified by <br />multilateral agreement of all parties signatory hereto. Any <br />modification to this Memorandum of Understanding shall be <br />confirmed in writing and executed by the authorized signatory <br />officials prior to performance of the modification. <br /> <br />VI. Termination. <br /> <br />Any party may terminate its involvement in this <br />Memorandum of Understanding upon thirty (30) days written notice <br />to all other parties. The terminating party shall be responsible <br />for its prorated share of all work accomplished under this <br />Memorandum of Understanding for which, in the exercise of due <br />diligence, the Sponsors Committee cannot cancel prior to the <br />effective date of termination. The prorated share shall be <br />determined as the ratio of the terminating party's individual <br />cost sharing contribution and estimated total study cost, <br />identified in Section II of this Memorandum of Understanding, <br />multiplied times the total actual value of study expenditures <br />incurred through the effective date of cancellation. In the <br />event a consultant is under contractual agreement to develop the <br />planning model, the terminating party shall continue to be <br />responsible for its share of that contractual obligation. <br /> <br />VII. EXECUTION IN COUNTERPARTS. This Memorandum of <br />Understanding shall be executed in a number of counterparts and <br />shall be deemed to constitute a single document with the same <br />force and effect as if all Parties hereto, having signed a <br />counterpart, have signed all other counterparts. Each Party <br />shall return seven signed counterparts to Reclamation, which <br />shall prepare a composite duplicate original and deliver the same <br />to each Party. <br /> <br />VIII. NOTICES. <br /> <br />All notices required or permitted to be given hereunder <br />shall be in writing and sent by registered mail or certified <br />mail, and shall be deemed delivered upon deposit in the United <br />States mail, addressed as follows: <br /> <br />Colorado Water Conservation <br />Board <br />Attention: David Walkeri <br />Randy Seaholm <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver CO 80203 <br />(303) 866-3441 <br /> <br />Upper Gunnison River Water <br />Conservancy District <br />Attention: Bill Trampe <br />393 County Road 8 <br />Gunnison CO 81230 <br />(303) 641-0856 <br /> <br />4 of 6 <br />