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L • <br /> AGREEMENT - Page 3 <br /> TERM <br /> Section 201 . The initial term of the Agreement <br /> shall be for ten (10) years . This Agreement shall <br /> automatically be renewed annually on the ninth (9th) and <br /> following anniversaries of the Agreement, for single year <br /> terms , unless terminated by either party. This renewal <br /> option provides the parties with a rolling two-year <br /> Agreement beginning on the ninth (9th) anniversary. <br /> Section 202 . This Agreement may be terminated by <br /> either panty by written notice (by certified mail , return <br /> receipt requested) not less than ten days prior to any <br /> anniversary hereof, commencing with the 9th anniversary <br /> hereof, and such termination shall be effective one year <br /> after such anniversary. <br /> GENERAL CONDITIONS AND REPRESENTATIONS <br /> Section 301 . The County and the City each binds <br /> itself and its successors, agents , and assigns to the other <br /> party of this Agreement; and to the successors , agents and <br /> assigns of the other party in respect to all covenants of <br /> this Agreement. <br /> Section 302 . The City recognizes that the Center <br /> is being financed by the County by the issuance of Solid <br /> Waste (Recycling) Revenue Bonds , Series 1997 (the "Bonds") <br /> and that payment of the Bonds is dependent, in part, on <br /> receipt of Recyclable Wastes from the City as set forth <br /> herein. Accordingly, the obligations of the City set forth <br /> herein may be enforced by the holders of the Bonds as and to <br /> the extent and by the procedures set forth in Ordinance No. <br /> 97-07 of the County, adopted March 10 , 1997 , for anforcement <br /> of the obligations of the County with respect to the <br /> security and payment of the Bonds . <br /> DEFAULT, REMEDIES <br /> Section 401 . Any failure of the City or the <br /> County to perform any covenant or obligation set forth <br /> herein shall , upon ten days, written notice (by certified <br /> mail , return receipt requested, or by personel deivery by <br /> the County Judge to the Mayor) constitute an Event of <br /> Default hereunder and, upon the occurrence of any Event of <br /> go Default, the aggrieved party (or the holders of the Bonds <br /> b0' d S 0 0p] 190 : 2 T ter;, T,7- Tif <br />