O-2008-3104 Tabled/interlocal agreement with City of Shoreacres-operate joint venture park located at the west fork of Taylor Bayou

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obligations, or any breach of this agreement by LA PORTE, until sixty (60) days after SHOREACRES has given LA PORTE written notice setting out in detail the type and nature of the default or breach, and the failure of LA PORTE to cure such default or breach within such sixty (60) day period. Any equipment remaining on the property after such thirty (30) day period shall be considered a part of the land and shall be the property of SHORE ACRES. IX.2 LA PORTE may terminate the term of this agreement if and in the event SHOREACRES fails or refuses to perform anyone or more of its obligations which are to be performed during the term of this agreement, for ordinary mismanagement of the facilities under the control of SHOREACRES as listed in Attachment "B", or for permitting deterioration of any part of the said premises by failure to maintain and keep same in a proper state of repair. LA PORTE shall not take any action or recourse against SHOREACRES for any default in the performance of SHOREACRES'S obligations, or any breach of this agreement by SHOREACRES, until sixty (60) days after LA PORTE has given SHOREACRES written notice setting out in detail the type and nature of the default or breach, and the failure of SHOREACRES to cure such default or breach within such sixty (60) day period. In the event of such termination, LA PORTE shall have the right to be compensated and SHOREACRES has the obligation to compensate LA PORTE for the amortized and pro-rated value of its contribution to the Joint Venture park based on the original agreement term of forty (40) years. Article X. REMEDIES X.l No right or remedy granted or reserved to the parties, is exclusive of any other right or remedy herein by law or equity provided or permitted; but each shall be cumulative of every other right or remedy given hereunder. No covenant or condition of this agreement may be waived without written consent of the parties. Forbearance or indulgence by either party shall not constitute a waiver of any covenant or condition to be performed pursuant to this agreement. Article XI. APPLICABLE LAW XLI This agreement is governed by the laws of the State of Texas; any venue for any action shall be in courts of competent jurisdiction of Harris County, Texas. Article XII. SUCCESSORS AND ASSIGNS XILI This agreement is binding on the successors, executors, administrators and assigns of the parties to this agreement. Neither LA PORTE nor SHOREACRES will assign, sublet, subcontract or transfer agreement without the written consent of the SHOREACRES - La Porte Interlocal Agreement for JOINT TAYLOR BAYOU PARK, Page 6 of 9