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11 <br /> agree that in the event on-site parking spaces are constructed as part of the Project <br /> an adequate number of on-site parking spaces owned and paid for by the County <br /> shall be available for use by Library and Skills Development Center patrons <br /> during their normal operating hours. This number of spaces will be determined <br /> during the permitting and design of the project. These spaces will be made <br /> available to the Town while the Library and Skills Development Center are <br /> closed. All parking spaces will be considered flexible in use by both the Town <br /> and County so as to not cause unreasonable restrictions supporting Facility use by <br /> either the Town or County. The parties understand and agree that the Town will <br /> police and enforce all parking rules and regulations for the Facility. Moreover, if <br /> either party decides in the future to consider converting their parking spaces to <br /> paid parking, they will, prior to making a final decision to convert their spaces to <br /> paid parking spaces, discuss the issue with the other party. Each party shall be <br /> responsible for managing their condominium units unless the parties mutually <br /> agree otherwise in writing. Each party has the right to protect and isolate its <br /> parking (e.g. gated parking for continued free parking during library hours should <br /> paid parking be otherwise established) for the Parties' sole use and interest. <br /> ARTICLE IV <br /> Allocation Of Project Costs <br /> The Parties shall share in the costs of the Project as follows: <br /> A. Pre-development costs, site improvement costs, building design and construction <br /> costs, construction administration costs, financing costs, and contingency costs <br /> shall be shared by the Parties in accordance with the Elements of Value attached <br /> as Exhibit C to this Agreement. The Parties recognize and agree that some of <br /> these Values and the corresponding level of proportionality may not be finally <br /> established until after the majority of the design work is completed (and after this <br /> Agreement is executed). The parties acknowledge that Exhibit C represents their <br /> general understanding of the cost sharing arrangement for the Project. The Parties <br /> further agree that as soon as possible after the Schematic Design for the Project is <br /> delivered to the Parties (the "Schematic Design Delivery Date), they will review <br /> Exhibit C to ascertain whether any change in cost sharing is appropriate based on <br /> the schematic design. If the Parties are unable to come to an agreement regarding <br /> any changes to Exhibit C within forty five (45) days after the Schematic Design <br /> Delivery Date then either Party may terminate this agreement by providing ten <br /> (10) days advance written notice to the other Party of its intention to terminate <br /> this agreement. Upon such termination, each Party shall be responsible for (i) its <br /> proportionate share of costs as set forth in Exhibit C, and (ii) all costs it has <br /> otherwise incurred in connection with this Project through the date of termination. <br /> B. The County shall pay the cost of planning, design and construction of parking <br /> improvements required to support the County's use(s) on the Property. The Town <br /> shall be responsible for the balance of the cost of constructing the parking for the <br /> Project. The intent is for the County to pay the cost for the parking spaces <br /> 5 <br />