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ARTICLE V <br />TERM OF THE AGREEMENT <br />A. The term of this Agreement shall continue until the CITY's exemption <br />from the UTILITY is approved, or September 30, 1999, whichever occurs first. <br />B. The parties hereby agree that time is of the essence in the performance <br />of each and every obligation under this Agreement. <br />ARTICLE VI <br />COMPENSATION/CONSIDERATION <br />It is the intent and understanding of the parties that this Agreement is solely for <br />the CITY and the UTILITY. No person or entity other than the CITY or the UTILITY <br />shall have any rights or privileges under this Agreement in any capacity whatsoever, <br />either as third -party beneficiary or otherwise. <br />ARTICLE VII <br />FORCE MAJEURE <br />Neither party hereto shall be liable for its failure to carry out its obligations under <br />the Agreement during any period when such party is rendered unable, in whole or in part, <br />by Force Majeure to carry out such obligations, but the obligations of the party relying <br />on such Force Majeure shall be suspended only during the continuance of any inability so <br />caused and for no longer period of said unexpected or uncontrollable event, and such <br />cause shall, so far as possible, be remedied with all reasonable dispatch. <br />It is further agreed that the right of any party hereto to excuse its failure to <br />perform by reason of Force Majeure shall be conditioned upon such party giving, to the <br />other party, written notice of its assertion that a Force Majeure delay has commenced <br />within ten (10) working days after such commencement, unless there exists good cause <br />for failure to give such notice, in which event, failure to give such notice shall not <br />prejudice any parry's right to justify any non-performance as caused by Force Majeure <br />unless the failure to give timely notice causes material prejudice to the other party. <br />ARTICLE IX <br />DEFAULT <br />CITY Event of Default <br />Without limitation, the failure by the CITY to substantially fulfill any of its <br />material obligations in accordance with this Agreement, unless such failures are justified <br />by Force Majeure, shall constitute a "CITY event of default". <br />DKV:AAR:nk:kb:10/29/98:&=y1s1mMau tena= 7 <br />