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i <br /> i <br /> i <br /> i <br /> i <br /> G <br /> III . Park Funding . <br /> i <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 /> I" <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 /> 4 <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 />