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10 <br /> will notify County of pro rata share owed. County will remit payment to ORFD <br /> within 14 days. <br /> ARTICLE V <br /> Term And Termination <br /> This Agreement shall be effective upon execution and shall continue until completion of <br /> the Project unless earlier terminated as provided herein(the "Initial Term"). <br /> This Agreement shall terminate: (i) at any time, by mutual Agreement of the Parties; or <br /> (ii) by ORFD, upon the material breach by County of any provision contained herein which <br /> material breach remains uncured by County after ORFD provides thirty(30)days advance written <br /> notice of said material breach to County, or(iii) by County,upon the material breach by ORFD <br /> of any provision contained herein which material breach remains uncured by ORFD after County <br /> provides thirty (30) days advance written notice of said material breach to ORFD. <br /> ARTICLE VI <br /> Conditions Precedent And Contingencies <br /> The Parties understand and agree that there are a number of conditions precedent and <br /> contingencies that will impact the ability to enter into the Contracts for the Project. At a <br /> minimum,the Parties understand and agree that the following must be resolved to the County's <br /> and ORFD's satisfaction: <br /> A. ORFD obtaining all Permits, including zoning, conditional/special use permits, <br /> variances, subdivision plats, approvals, permits, easements and licenses for the <br /> Project and the Town grants all necessary Permits which allow for the County's <br /> proposed use of the Property. <br /> B. The County and ORFD secure all necessary approvals from their respective <br /> governing Boards or Managers as delegated by their respective Boards to proceed <br /> with the Project at mutually agreed, predefined points during the project (for <br /> example: sizing and elements of exclusive, shared, and common area spaces, <br /> schematic design, construction method, etc.) <br /> C. ORFD and the County are able to procure suitable financing for their respective <br /> components of the Project. The parties further contemplate that upon completion of <br /> construction, the parties shall divide the Facilities, as partners thereof, into <br /> condominium units to be owned by the County and ORFD, respectively, for <br /> 8 <br />