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b. Owner's Termination. Owner may terminate the within Agreement, without <br /> cause,by giving ninety(90)day written notice of its intention so to terminate to City, <br /> however. Owner shall have no option to terminate and shall not terminate this <br /> Agreement until after the third anniversary date or after May 1, 2025. <br /> 13. APPROPRIATION: Any monetary obligation of the Parties is subject to <br /> appropriation as provided by law. The Parties understand and acknowledge that the Parties <br /> are subject to Article X, § 20 of the Colorado Constitution ("TABOR"). The Parties do not <br /> intend to violate the terms and requirements of TABOR by the execution of this Agreement. <br /> It is understood and agreed that this Agreement does not create a multi-fiscal year direct or <br /> indirect debt or obligation within the meaning of TABOR and, therefore, notwithstanding <br /> anything in this Agreement to the contrary, all payment obligations of the Parties are <br /> expressly dependent and conditioned upon the continuing availability of funds beyond the <br /> term of the Parties' current fiscal period ending the succeeding December 31. 2022 and <br /> December 31 of each year thereafter. Financial obligations of the Parties payable after the <br /> current fiscal year are contingent upon funds for that purpose being appropriated,budgeted, <br /> and otherwise made available in accordance with the rules, regulations, and resolutions of <br /> the Parties, and other applicable law. Upon the failure to appropriate such funds, this <br /> Agreement shall be terminated. <br /> 14. NOTICES: Notices to Owner shall be directed as follows: <br /> OWNER: <br /> Hans Friederichs, Jr. <br /> 1251 County Road LL, <br /> Wiley, Colorado 81092 <br /> CITY: <br /> City of Lamar <br /> 102 E. Parmenter St, <br /> Lamar, CO 81052 <br /> Either party may, at any time or from time to time, designate in writing a substitute <br /> address for that above set forth, and thereafter notices shall be directed to such <br /> substitute address. <br /> 15. ASSIGNMENT: City shall not assign this Agreement voluntarily or any <br /> right hereunder,nor sublet the Property or any part thereof,without the prior written consent <br /> of Owner. <br /> 16. DEFAULT. In the event of default or breach by either party, the non- <br /> defaulting party shall first furnish written notice of default and what is required to cure the <br /> same. Thereafter, the defaulting party shall have a reasonable period of time to cure the <br /> default not to exceed sixty(60)days. <br />