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<br />e <br /> <br />e <br /> <br />X. <br /> <br />This instrument contains the entire agreement between the parties relating to the rights <br />granted in the agreement and the obligations assumed as a part of the agreement. Any <br />representations or modifications concerning this agreement shall have no force or effect <br />unless modified in writing, and signed by each party to the agreement. <br /> <br />XI. <br /> <br />This agreement shall be in force for a period of five (5) years beginning with the date of <br />its execution. At the end of the term of the agreement, both the City and the Association <br />have the option to continue the agreement for an additional five (5) year term. Such option <br />shall be executed in writing by the President of the Association and the City Manager or <br />his designee. Should either party choose not to exercise their option, the agreement shall <br />be considered at an end. During the term of this agreement, the Association and the City <br />may enter into separate agreements regarding future capital improvement projects or other <br />soccer facilities that may be contemplated in the City. <br /> <br />XII. <br /> <br />The Association shall maintain a favorable financial position during the term of this <br />agreement. The Association will provide an official annual report on the Association's <br />fiscal condition to the City, comprised of a balance sheet, revenue statement and expense <br />statement. The City reserves the right to review the internal financial control structure of <br />the Association and to perform other audit steps as necessary to protect its interests. <br /> <br />XIII. <br /> <br />If any section, sentence, phrase, clause, or any part of any section, sentence, phrase, or <br />clause, of this Agreement shall, for any reason, not be legally or factually valid, such <br />invalidity shall not affect the remaining portions of this Agreement. <br /> <br />XIV. <br /> <br />This agreement supersedes the agreement between the parties dated August 12, 1996, <br />and approved by City of La Porte Ordinance No. 96-2126. <br /> <br />Facility Use Agreement, page 4 of 6 <br />