Res 2007-203 - Laserfiche WebLink

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B. lbe City will notify the Chamber in writing of any default. The Chamber will take action so that the default is corrected within the correction period stated in the notice. The City may, on the basis of a default, withhold any payment otherwise due to the Chamber under this Contract until the default is corrected to the satisfaction of the City. The Chamber will confinn in writing to the City within the correction period that the default has been corrected. If the Chamber fails to timely correct the default or deliver the required confirmation, the City may immediately terminate this Contract. In the event of termination of this Contract, the City may require the Chamber to remit the remaining funds under this Contract to the City. C. The City's pursuit of one or more remedies for any default by the Chamber will not constitute an election of remedies by the City. 8. MISCELLANEOUS A. The Chamber shall not assign any of its rights, or delegate or subcontract any of its duties under this Contract, in whole or in part, without the prior written consent of the City. B. It is understood and agreed between the parties that the City and the Chamber, in executing this Contract, and in performing their respective obligations, are acting independently, and not in any form of partnership or joint venture. The City assumes no responsibilities or liabilities to any third parties in connection with this Contract, and the Chamber agrees to indemnify, defend and hold the City harmless from any such liabilities. C. The Chamber agrees to provide to the City audited financial statements regarding the Tourism Funds provided to the Chamber by the City in connection with the City's 2006-07 fiscal 1, 2007; and its 2007-08 fiscal year no later than December 31 , 2008.. J)/,2007. EXECUTED on THE CITY OF SAN MARCOS, TE By: Col\~ -.:r~m."~J Tn-\-enO\ ~.\-\.t M.CW\.a~~r SAN MARCOS HISPANIC CHAMBER OF COMMERCE By:_n ll-.J L~ Greg Wurzhach, Chil{r of the Board of Directors 6