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e) Good Faith. The parties mutually agree to deal in good faith one with the other in <br />all respects in performing their duties under this Agreement. All actions <br />recommended and implemented in the Plan will require joint approval by both <br />Boards. <br />7. Entire Agreement. Except as otherwise provided in this Agreement, this Agreement contains <br />the entire agreement between the parties. Amendments, if any, shall be in writing and signed <br />by both parties. <br />8. Duration. This agreement shall be effective as of the above date and will expire June 30, <br />2011, unless terminated or extended as provided herein. Orange County and Durham County <br />will discuss, prior to January 1, 2011, whether either county intends to assume or make other <br />arrangements for operation of the Park upon the expiration of the original term of this <br />Agreement or whether Orange County and Durham County desires to continue a contractual <br />relationship for operation of the Park and upon what terms. In the event that this agreement <br />has not been terminated, renewed or amended prior to the expiration date listed above, it will <br />remain in effect until such time as both Boards have adopted a new agreement, but no longer <br />than a 12 month period. <br />9. Termination. <br />a) This agreement shall be subject to. annual review and may be terminated at the <br />end of the fiscal year upon one (1) year advance written notice by one parry to the <br />other party. <br />b) Upon the expiration or termination of this Agreement, park amenities and the <br />costs associated therewith will be distributed as follows: <br />i) Real Property: The land shall continue to be owned as separate parcels with <br />Orange County owning the 136 acres located in Orange County and Durham <br />County owning the 255 acres located in Durham County. With respect to <br />additional tract(s) acquired during the term of this Agreement and any <br />extensions thereof, the additional tract(s) shall be owned in the manner <br />acquired. <br />ii) Costs of Improvements: The Counties agree to share equally in the value of <br />the improvements made to the Park in the respective Counties, including but <br />not limited to picnic shelters, campsite facilities, restroom structures, and the <br />park caretaker residence. (For example, if the value of the improvements <br />made to the portion of the Park which sits in Orange County equals $20,000 <br />and the value of improvements made in Durham County equals $10,000, <br />then Orange County will reimburse Durham County the set off amount of <br />$5,000.) The value of said improvements shall be determined at the time of <br />termination. <br />iii) Grant Funds: The parties acknowledge that grant funding has and may be <br />awarded to Durham and Orange Counties for the development of the Park. <br />Page 7 of 10 <br />