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d. It is agreed between the CITY and the SPONSOR that the CILITIES will be <br /> maintained by the CITY and that FACILITIES will be kep� ctional and <br /> (, maintained on a regular basis. <br /> e. It is agreed that the CITY reserves the right to remove SPQ SOR's signage and <br /> obtain a new sponsor in the event of failure of payment on It a part of the <br /> SPONSOR. <br /> f. It is agreed between the CITY and the SPONSOR that the S ONSOR shall pay <br /> over a period of 5 years for the erected signs and sponsorsli s the total sum of <br /> $7,500.00. <br /> i. A sum of$1,500.00 shall be paid no later than the l; `h day of February for <br /> a period of 5 years during the effective dates of thisii ontract. <br /> III. Assignability and Exclusivity <br /> a. This agreement is a privilege for the benefit of SPONSOR 10 y and may not be <br /> assigned in whole or in part by SPONSOR to any other pers n or entity. <br /> IV. Miscellaneous Provisions <br /> a. No modification of this Agreement shall be effective unless t is made in writing <br /> and signed by the authorized representatives of the parties h reto. <br /> b. This Agreement shall be construed under and in accordance -th the laws of the <br /> State of Arkansas and venue for any litigation concerning t s Agreement shall be <br /> in Independence County, Batesville, Arkansas. <br /> c. Nothing in this Agreement shall be construed to make the C TY or its respective <br /> agents or representatives liable in situations it is otherwise i une from liability. <br /> d. In case any one or more of the provisions contained in this greement shall for <br /> any reason be held invalid, illegal or unenforceable in any r� pect, such invalidity, <br /> illegality, or unenforceability shall not affect any other proud ion thereof and this <br /> Agreement shall be construed as if such invalid, illegal, or enforceable <br /> provision had never been contained herein. <br /> e. Each party represents to the other that the individual signing his Agreement <br /> below has been duly authorized to do so by its respective gd erning body and that <br /> this Agreement is binding and enforceable as to each party. <br /> IN WITNESS THEREOF thearties have executed this Agreement on the a and year set forth <br /> p g � Y <br /> below. <br /> 2 <br />