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against Cushman. That said judgment and collection efforts shall have a six percent prejudgment <br /> interest from the month said water was provided. <br /> 8. That at the end of term of this agreement, said contract will terminate unless an <br /> extension or new agreement is reached by the parties. Upon termination of this contract by <br /> default or the term ending without a properly renegotiated and executed contract by the end of <br /> this agreement,the entire indebtedness owed by Cushman to BWU will become immediately due <br /> and payable. If BWU is not paid in full within 30 days of said termination, BMW may pursue <br /> the debt owed by Cushman with 6%prejudgment interest. <br /> 9. That this agreement and all other subsequent agreements related to the <br /> indebtedness and supplying of water to the City of Cushman by the City of Batesville are subject <br /> to approval by the Batesville city council and the Cushman Water Board prior to ratification of <br /> said agreement. <br /> 10. Arkansas law shall apply to this agreement, and Arkansas law shall be used to <br /> construe its terms in any legal or arbitration proceeding or other dispute arising herefrom or in any <br /> way related hereto. <br /> 11. The parties agree that the sole venue and forum for any lawsuit arising from this <br /> agreement and/or the debt(s) and/or obligation(s) incurred hereunder by either party shall be the <br /> Circuit Court of Independence County,Arkansas. <br /> 12. This agreement may not be modified verbally. Modification hereof may only be <br /> achieved by execution of a written modification signed by both parties. <br /> 13. The parties acknowledge that this Agreement is reasonable,valid, and enforceable; <br /> however, if any part of this Agreement is held by a court of competent jurisdiction to be invalid, it <br /> is the intent of the parties that such provision be reduced in scope only to the extent deemed <br />