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6 <br /> III. Park Funding. <br /> 1. Annual Operations. All operating and maintenance costs of the Park shall be shared equally by <br /> 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 contractors <br /> in the performance of their obligations rendered pursuant to this Agreement, nor share the <br /> cost for park expenses that were not agreed to by Durham County. Orange County shall not <br /> share in the cost to repair damage to the Park and its facilities caused by the intentional or gross <br /> negligent acts and omissions of Durham County personnel or its contractors in the performance <br /> of their obligations rendered pursuant to this Agreement. In no event shall the amount invoiced <br /> exceed the budgeted amount for the Park in the then current fiscal year. <br /> 2. Emergency Expenses. Amounts budgeted for the Park as part of each county's annual budget <br /> may be increased to cover unforeseen and unbudgeted expenses. Such unforeseen and unbudgeted <br /> expenses shall be invoiced as provided here but only after it is approved by both County <br /> Managers and both Boards as an amendment to the applicable Park budget. Provided, however, <br /> emergency repairs (as defined herein) needed may be undertaken after their cost is approved <br /> in writing by both County Managers. For purposes of this Agreement, the term "emergency <br /> repair(s)" shall mean those repairs made necessary as the result of natural occurrences that <br /> cannot be postponed for approval of a budget amendment by both Boards. After the costs are <br /> approved by the County Managers,both Boards shall be presented with said emergency repair <br /> costs as an amendment to the applicable Park budget at the next regularly scheduled meeting <br /> of each Board. Each county will provide to the other county detailed accounting of both direct <br /> and indirect costs for reconciliation purposes. Insurance reimbursement for repairs shall be <br /> accounted for in the applicable Park budget and made a part of the reconciliation. <br /> 3. Alternate County Expenses. <br /> a. Single County Expenses. Notwithstanding 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 other <br /> county for reimbursement or charged against the other county as an expenditure. Such <br /> unshared expenditures shall not be considered a part of the Park budget and shall not <br /> become a cost to be reimbursed. Any such activities financed byone county must still <br /> be an approved as an activity by both counties, and shall be in accordance with the <br /> Master Plan. Alternate County Funding. By mutual agreement, any activity(ies) may <br /> be funded by the two counties using a cost-sharing ratio other than 50/50 if mutually <br /> agreed to in writing in advance of the activity. <br /> 4. Capital Costs. Capital costs of the Park shall be shared equally by both counties (Orange <br /> County 50% and Durham County 50%) and paid for as provided in Section III.6. of this <br /> Agreement.Notwithstanding the foregoing, either county may budget and/or expend funds for <br /> 4 <br />