Res 2008-012 - Laserfiche WebLink

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financing statement in a form satisfactory to the Agency or the Trustee and meeting the requirements of the Texas Uniform Commercial Code to perfect any security interest created hereby. To the extent required by law, each Sponsoring Public Entity fiuther agrees to execute such continuation statements or other documents as may be necessary to maintain any such security interest. SM628 &19 Entire Agree t. This Contract constitutes the entire agreement among the parties with respect to the matters described herein. See Qn 8.20 ' Apphc= Law. This Contract shall be governed by and construed in accordance with the laws of the State, and the obligations, rights, and remedies of the parties hereunder shall be determined in accordance with such laws without reference to the laws of any other state or jurisdiction, except for applicable federal laws, rules, and regulations. Section lull Coantgmarb. This Contract may be executed in counterparts, each of which shall be an original and all of which together shall constitute but one and the same instrument. Section 8;2 Reservation of Rights to Utilize the Tem Water Development Board's State Participation Account Program. The Sponsoring Public Entities and the Agency hereby agree that the Agency may file an application with the TWDB to seek financial assistance pursuant to the TWDB Program. To the extent the Agency utilizes the TWDB Program to access fiords to complete the Project, the TWDB Program's rules and regulations require that the TWDB take an undivided ownership interest in up to 50% of the infrastructure improvements comprising the Project. This undivided ownership interest is represented by a master agreement and other documents to be executed between the Agency and the TWDB to effectuate the Agency's financial participation in the TWDB Program. Under the TWDB Program, the Agency will be obligated (and the Sponsoring Public Entities will be obligated to pay the Annual Payment Amounts to reflect this financial obligation) to make lease or other rental payments to the TWDB to repay the TWDB's financial assistance which enabled the Agency to construct the Project in a manner in which excess capacity in the Project was implemented on a regional basis. [The remainder of this page intentionally left blank.] -36-