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ARTICLE 6 <br />TERM, TERMINATION AND EARLY WITHDRAWAL OF FUNDS <br />6.01. Agreement Term and Termination. This Agreement shall become effective as of <br />the last date of execution by the Parties hereto ( "Effective Date "), and shall remain in effect for <br />an initial term of thirty -six (36) years. This Agreement shall be automatically extended for an <br />additional term of twenty (20) years unless prior to two (2) years from the commencement of the <br />additional term, any Party to this Agreement shall provide written objection for such extension to <br />the other Parties. In event of such notice, in the event the Parties are unable to negotiate a <br />satisfactory resolution, the Parties shall proceed with mediation as provided in this Agreement <br />during the notice period. Funding into the Tax Increment Fund shall continue during the notice <br />period and thereafter until a final notice from the Parties' governing body to end payments to the <br />Fund. Subject to the terms of this Agreement, the City and the Rail District agree to participate <br />under this Agreement, beginning with the Effective Date and ending in accordance with the <br />terms provided herein. The Parties agree and understand that no Tax Increment Payments will <br />be made by the City prior to the Effective Date. The Parties may agree to extend the term of this <br />Agreement for successive periods. Any documents and agreements creating the Tax Increment <br />Account shall include the provisions of Article 6 as applicable. <br />6.02. Disposition of Tax Increments. Upon expiration or termination of the Zone, any <br />funds that have not been paid out or committed in the Tax Increment Fund shall be paid to the <br />Participating Taxing Entities on a pro -rata basis based on their total contributions to the Tax <br />Increment Fund up to the time of the expiration or termination of the Zone. <br />6.03. Early Withdrawal of Funds and Suspension. <br />(a) If by January 1, 2016, the City of Austin, and the counties of Hays and Travis <br />have not approved an interlocal agreement for participation in funding the operation of the rail <br />