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23 <br /> 40%of the revenue shortfall (not to exceed$60,000 per fiscal year)will be charged to <br /> Orange County. <br /> 60% of the revenue shortfall (not to exceed $90,000 per fiscal year) will be split <br /> proportionally among the remaining Parties as follows: <br /> 33 1/3 %to Alamance County <br /> 33 1/3 %to Chatham County,and <br /> 33 1/3 %to Durham County. <br /> It is anticipated that the Parties shall not contribute funds to the Center during fiscal year <br /> 2010-11,-and no Party shall have any obligation to make any payment during fiscal year 2010- <br /> 11. Notice of an anticipated revenue shortfall shall be provided by Orange County to the Parties <br /> no later than February in any given fiscal year. Orange County shall provide additional <br /> information as deemed necessary by any party in order to make a determination of need for <br /> financial assistance in the event of a revenue shortfall. The notice of anticipated shortfall shall <br /> provide the projected amount each Party is responsible for under this Section 6. Notice of the <br /> actual amount of any revenue shortfall shall be provided to the Parties by June 1St of any given <br /> fiscal year. Funding for revenue shortfalls shall be due by July 15"' of the following fiscal year. <br /> Such payment shall be made as a reimbursement of expenses incurred by Orange County in <br /> addition to their share of shortfalls for the then current fiscal year in which a notice of revenue <br /> shortfall is provided, but shall not exceed $30,000 per fiscal year, subject to Section 10. Any <br /> shortfall payment made shall be reimbursed to the Parties from profits made in subsequent years. <br /> The failure of all Parties to agree on the revenue shortfall and fund the Center in <br /> accordance with the terms of this Agreement shall be grounds for terminating this Agreement. <br /> All Parties agree to cooperate in good faith to.sustain the operations of the Center for the term of <br /> this Agreement. <br /> In the event additional parties are added to this Agreement, the additional party shall be <br /> added to the formula above and share equally in the 60% share of the shortfall. <br /> 7. Term . <br /> The term of this Agreement shall commence on the date first written above and shall <br /> exist and continue until June 30, 2015, unless otherwise terminated as herein provided or <br /> extended upon mutual agreement of all Parties, which agreement shall be made in writing and <br /> executed with the same formality as this Agreement. <br /> 8. Appointment of Personnel <br /> Each Party's respective Manager shall designate the persons to carry out the obligations <br /> of that Party under this Agreement. <br /> The Orange County Manager shall appoint the Executive Director of the Center with the <br /> advice of the Steering Committee. The Executive Director shall be an Orange County employee <br /> 4of11 <br />