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e e ARTICLE III. CONSIDERATION As consideration for this agreement, the BEACON organization agrees to contribute a total of $169,500 in local funds for the enhancement of the project in the amounts as follows: La Porte Independent School District City of La Porte (value of in-kind) City of Shoreacres City of Morgan's Point La Porte-Bayshore Chamber of Commerce Neighborhood Centers, Inc. San Jacinto College District Harris County Public Health and Environmental Services (La Porte Health Clinic) TOTAL $102,000 $ 67,500 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $169,500 ARTICLE IV. ALLOCATION OF FUNDS 4.01 The specific allocation of TIF funds is to La Porte Independent School District, who will then distribute funds as appropriate among the members. By signing this Agreement, all the participating entities certify that each member will be held responsible for assuring that the financial records and project are managed according to TIF guidelines. 4.02 In the event of the mismanagement of funds at the member organization level, this Agreement assures that .each organization is responsible for managing its funds and project according to TIF guidelines. Organizations following TIF guidelines will not be held accountable if a member or members within the Collaborative do not follow TIF guidelines. ARTICLE V. AMENDMENTS This -agreement may be amended by the mutual agreement of the parties hereto in writing to be attached to and incorporated into this agreement. ARTICLE VI. LEGAL CONSTRUCTION In case anyone or more of the provisions contained in this agreement shall be held to be invalid, illegal, or unenforceable in any respect such invalidity, illegality, or unenforceability shall not affect any other provision thereof, and this agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. ARTICLE VII. ENTIRE 'AGREEMENT This agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the subject matter hereof, and no other agreement, statement, or promise relating to the subject matter of this agreement that is not contained herein shall be valid or binding. EXECUTED IN DUPLICATE ORIGINALS, EACH OF WHICH SHALL HAVE THE FULL FORCE AND EFFECT OF AN ORIGINAL, ON THIS THE 13th DAY OF February, 2002. Each member of the collaborative effort understands the agreement and agrees to be bound by its terms. TIF Form/Collaborative Agreement (October 2000 rev.) Page 2 of 3