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TRIANGLE AREA WATER SUPPLY MONITORING PROJECT <br /> INTERLOCAL AGREEMENT <br /> the resumption of payments. If the Committee or the Managing Agent intends to suspend this <br /> Agreement,it shall advise the other party and specify in writing the actions that must be taken <br /> and a reasonable date of compliance in order to avoid suspension of the Agreement. Upon <br /> receipt of notice of termination Managing Agent shall immediately cease all services and meet <br /> with the Committee to determine what services, if any, shall be required to bring the Project to a <br /> reasonable termination in accordance with the Committee's request. <br /> Section 6.Access to Records <br /> The Managing Agent shall maintain all official Project records and documents during the <br /> Project.The Committee shall have access to any books, documents,papers and records of the <br /> Managing Agent which are pertinent to the execution of this Agreement,for the purpose of <br /> making audits, examinations, excerpts and transcriptions. <br /> Section 7. Interest Earned on Committee Revenues <br /> The Managing Agent shall place the interest earned on the revenues received from August 9, <br /> 1988 till the end of the Project into a deferred revenue account. This account shall offset <br /> expenses in the final year of the Project or shall be applied to unforeseen Project expenses,as <br /> determined by the Committee. <br /> Section 8.Additional Terms <br /> A. Contract may only be amended in a writing signed by the parties. <br /> B. Managing Agent shall not assign or transfer its interest in,nor delegate its duties under <br /> this Agreement. <br /> C. This Agreement shall be governed by the laws of the State of North Carolina. Any and <br /> all suits or actions related to Contract shall be brought in Wake County N.C. <br /> D. If any provision of this Agreement is held as a matter of law to be unenforceable,the <br /> remainder of this Agreement shall be enforceable without such provision. <br /> By: 1 1 <br /> Kenny Keel, hair, Triangle Area Water Supply Monitoring Project Steering Committee <br /> By: <br /> Kirby B xecutiv ctor, Triangle J Council of Governments <br /> Page 22 of 22 <br />