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• d. It is agreed between the CITY and the SPONSOR that the FACILITIES will be <br /> maintained by the CITY and that FACILITIES will be ker t functional and <br /> maintained on a regular basis. <br /> e. It is agreed that the CITY reserves the right to remove SF NSOR's signage and <br /> obtain a new sponsor in the event of failure of payment on the part of the <br /> SPONSOR. I <br /> f. It is agreed between the CITY and the SPONSOR that the SPONSOR shall pay <br /> over a period of 6 years for the signs and sponsorships the total sum of <br /> $36,000.00. <br /> i. A sum of$6,000.00 shall be paid no later than the Ot" day of February for <br /> a period of 6 years during the effective dates of th contract. <br /> III. Assignability and Exclusivity <br /> a. This agreement is a privilege for the benefit of SPONSOR only and may not be <br /> assigned in whole or in part by SPONSOR to any other pe son or entity. <br /> IV. Miscellaneous Provisions <br /> a. No modification of this Agreement shall be effective unles 3 it is made in writing <br /> and signed by the authorized representatives of the parties ereto. <br /> b. This Agreement shall be construed under and in accordanc with the laws of the <br /> • State of Arkansas and venue for any litigation concerning his Agreement shall be <br /> in Independence County, Batesville, Arkansas. <br /> c. Nothing in this Agreement shall be construed to make the CITY or its respective <br /> agents or representatives liable in situations it is otherwise immune from liability. <br /> d. In case any one or more of the provisions contained in this Agreement shall for <br /> any reason be held invalid, illegal or unenforceable in any respect, such invalidity, <br /> illegality, or unenforceability shall not affect any other provision thereof and this <br /> Agreement shall be construed as if such invalid, illegal, or unenforceable <br /> provision had never been contained herein. <br /> e. Each party represents to the other that the individual signir g this Agreement <br /> below has been duly authorized to do so by its respective governing body and that <br /> this Agreement is binding and enforceable as to each party <br /> IN WITNESS THEREOF,the parties have executed this Agreement on e day and year set forth <br /> below. <br /> • <br /> 2 <br />