04-23-18 Regular Meeting of the La Porte City Council

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in accordance with the Financing and Reimbursement Agreements previously entered into by the District. Section 8.02 Transition upon Dissolution. In the event all required findings and procedures for the dissolution of the District have been duly, properly, and finally made and satisfied by the City, and unless otherwise mutually agreed by the City and the District pursuant to then existing law, the District agrees that its officers, agents, and representatives shall be directed to cooperate with the City in any and all respects reasonably necessary to facilitate the dissolution of the District and the transfer of the District Assets to and the assumption of the District Obligations by the City. ARTICLE IX MATERIAL BREACH, NOTICE AND REMEDIES Section 9.01 Material Breach of Agreement. (a) The parties acknowledge and agree that any substantial deviation by the District from the material terms of this Agreement would frustrate the intent of this Agreement and, therefore, would be a material breach of this Agreement. By way of example, a substantial deviation from the material terms of this Agreement by the District would be the failure of the District to obtain approval from the City prior to annexing an additional property into the District as provided for herein. (b) The parties acknowledge and agree that any substantial deviation by the City from the material terms of this Agreement would frustrate the intent of this Agreement and, therefore, would be a material breach of this Agreement. By way of example, a substantial deviation from the material terms of this Agreement would be an attempt by the City to dissolve the District other than as provided for herein. (c) In the event that a party to this Agreement believes that another party has, by act or omission, committed a material breach of this Agreement, the provisions of this Article IX shall provide the sole remedies for such default, unless otherwise specifically provided herein. 11