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<br />e <br /> <br />e <br /> <br />Sponsor. The Sponsor may assist in any coordination activities and may participate in any phase <br />of the Project at its own discretion. <br /> <br />II. <br />PAYMENT <br /> <br />2.01 The sponsor agrees to cosponsor one-half of the students at the following schools in La <br />Porte ISO, which had a total 1994-95 fifth grade enrollment of 196: <br /> <br />Bayshore Elementary <br />La Porte Elementary <br /> <br />2.02 The Sponsor hereby agrees to pay to the Subsidence District, promptly upon receipt of an <br />invoice from the Subsidence District, the total amount due, which is equal to $28.00 per student <br />sponsored. The above payment shall provide sponsorship for the above listed school(s) for one <br />year. The amount of the invoice shall be calculated using the actual enrollment in the named <br />schools for each year of the Project. <br />2.03 The sponsor agrees to pay a similar amount, adjusted for the actual cost of the <br />sponsorship kit and the number of students sponsored, each year for the term of this Agreement. <br />2.04 This cost represents the sole monetary obligation of the Sponsor in exchange for and in <br />consideration of the Subsidence District's obligations hereunder. <br /> <br />III. <br />TERM AND TERMINATION <br /> <br />3.01 The term of this Agreement shall be from the effective date hereof until termination of <br />the Project, and shall be automatically renewed annually. This Agreement may be terminated by <br />either party by providing 90 days written notice. <br /> <br />3.02 The Certificates of Deposit in the Groundwater Bank shall be transferred to the custody of <br />the Sponsor at the end of each project year, and shall be honored by the District no longer than <br />40 years after the termination of this Agreement. <br /> <br />InterJocaJ Agreement: Version 1.1 <br /> <br />PlIge 3 of 4 <br />