Res 2015-013/Amendment to and renewal for an additional five years of an Agreement for Airport Management Services with Texas Aviation Partners, L.L.C.;

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in the event that the Operator goes out of business during that period, it will turn over, to the City, all of its records relating to the Project for retention by the City. ARTICLE 8 TERM; TERMINATION OF AGREEMENT 8.0.1 The initial term of this Agreement begins on the Effective Date established in the first paragraph of the Agreement and will continue through September 30, 2015 unless this Agreement is terminated under Articles 8 or 10. 8.0.2 The Agreement may be extended for 4 five -year terms under the same terms and conditions. This option, if exercised, is to be executed as a contract renewal , to be issued no sooner than three hundred and sixty -five (365) days prior to expiration of each term of the Agreement, nor later than six (6) months before the final day of the Agreement period. This option to extend requires the mutual agreement of both parties. Refusal by either party to exercise this option to extend will cause the Agreement to expire on the original or mutually agreed upon date. The total period of the Agreement, including all extensions as a result of exercising this option will not exceed a maximum combined term of twenty - five (25) years. 8.0.3 Termination. This Agreement may be terminated upon 180 calendar days prior written notice should the other party fail substantially to perform in accordance with its terms through no fault of the party initiating the termination. 8.0.4 Either party may terminate this Agreement for convenience without cause and without recourse upon at least three hundred sixty (360) calendar days prior written notice to the non - terminating party. 8.0.5 In the event of termination as provided in this Article 8 or Article 10, the City will compensate the Operator for all services performed up to the termination date, which are deemed by the City to be in accordance with this Agreement. The City will pay this amount upon the Operator's delivering to the City all information and materials developed or accumulated by the Operator in performing all services described in this Agreement, whether completed or in progress. The expense of reproduction of these items will be borne by the City. 8.0.6 Upon termination for convenience by either party under Section 8.0.4, all rights, powers and privileges of the Operator will cease, and the Operator will immediately vacate any and all space occupied by him under this Agreement, and neither party will make a claim of any kind whatsoever against the other, its agents or representatives, by reason of such termination, or any act incident thereto. The Operator will deliver to the City all information and materials developed or accumulated by the Operator in performing all services described in this Agreement whether completed or in progress.