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241 <br /> statement of the amount of water and charges for such water fur- <br /> nished to the CITY during the preceding month. The CITY shall <br /> pay the TOWN not later than the thirtieth (30th) day of the month <br /> for water delivered the preceding month. <br /> 12. a. Subject to subsections b. and c. below, this Agreement <br /> shall extend for ten (10) years from date of execution and <br /> thereafter may be renewed or extended for such term, or terms, as <br /> may be agreed upon by the TOWN and the CITY. This Agreement may <br /> be amended or terminated by agreement of the parties. It may also <br /> be also be terminated unilaterally by either party if costs of <br /> water as provided in Paragraphs 9 and 11 are not paid in accor- <br /> dance with Paragraphs 10 and 11. <br /> b. The provisions of Paragraph 1. shall be binding on the <br /> parties for an initial period of twenty (20) years, and may there- <br /> after be renewed or extended by mutual agreement. The provisions <br /> of Paragraph 1. shall survive the earlier termination or expiration <br /> of the remainder of this Agreement. <br /> c. The provisions of Subparagraph 3 .j. shall be binding on <br /> the parties for ten (10) years after the completion of the Project <br /> and shall survive the earlier termination or expiration of the <br /> remainder of this contract. <br /> s <br /> 13. Any litigation arising out of this Agreement shall be <br /> determined in Durham County District or Superior Court. <br /> 14. The obligations created by this Agreement, with the exception <br /> of those created in Paragraph 1. and Paragraph 2. are contingent <br /> -10- <br />