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6 <br />III. Park Funding. <br />Annual Operations. All operating and maintenance costs of the Park shall be shared equally <br />by both counties (Orange County 50% and Durham County 50%). Orange County shall be <br />responsible for operating and maintaining the Park and shall invoice Durham County twice <br />annually for 50% of the actual operating and maintenance costs, including building and <br />grounds maintenance, personnel costs, indirect costs, property insurance and any other costs <br />incurred to properly operate and maintain the Park. Notwithstanding the foregoing, Durham <br />County shall not share in the cost to repair damage to the Park and its facilities caused by the <br />intentional or gross negligent acts and omissions of Orange County personnel or its <br />contractors in the performance of their obligations rendered pursuant to this Agreement. <br />Orange County shall not share in the cost to repair damage to the Park and its facilities <br />caused by the intentional or gross negligent acts and omissions of Durham County personnel <br />or its contractors in the performance of their obligations rendered pursuant to this Agreement. <br />In no event shall the amount invoiced exceed the budgeted amount for the Park in the then <br />current fiscal year. <br />2. Emer ency Expenses. Amounts budgeted for the Park as part of each county's annual <br />budget may be increased to cover unforeseen and unbudgeted expenses. Such unforeseen and <br />unbudgeted expenses shall be invoiced as provided here but only after it is approved by both <br />County Managers and both Boards as an amendment to the applicable Park budget. Provided, <br />however, emergency repairs (as defined herein) needed may be undertaken after their cost is <br />approved in writing by both County Managers. For purposes of this Agreement, the term <br />"emergency repair(s)" shall mean those repairs made necessary as the result of acts of God <br />which repairs cannot be postponed for approval of a budget amendment by both Boards. <br />After the costs are approved by the County Managers, both Boards shall be presented with <br />said emergency repair costs as an amendment to the applicable Park budget at the next <br />regularly .scheduled Board meeting of each Board. Each County will provide to the other <br />County detailed accounting of both direct and indirect costs for reconciliation purposes. <br />Insurance reimbursement for repairs shall be accounted for in the applicable Park budget and <br />made a part of the reconciliation. <br />3. Alternate County Expenses <br />a. Single County Expenses. Notwithstandmg the foregoing, either County may budget <br />and/or expend funds for Park activities which the other County will not or cannot <br />approve, so long as such expenditure or any portion thereof is not invoiced to the <br />other County for reimbursement or charged against the other County as an <br />expenditure. Such unshared expenditures shall not be considered a part of the Park <br />budget and shall not become a cost to be reimbursed. Any such activities financed by <br />one County must still be an approved as an activity by both Counties, and shall be in <br />accordance with the Master Park Plan. <br />b. Alternate County Funding. By mutual agreement, any activity(ies) may be funded by <br />the two Counties using acost-sharing ratio other than 50/50 if mutually agreed to in <br />writing in advance of the activity. <br />Page 4 of 10 <br />