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If this Contract is so terminated, the City will compensate the Chamber for services to the date of <br />termination on a pro rata basis. <br />C. Unused Funds. Any CVB Funds allocated to the Chamber by the City which are <br />unencumbered or unexpended at the end of the City's 2014 -15 fiscal year may be rolled over to this <br />year's budget. The Chamber may retain one - twelfth of the CVB Funds after the date of <br />termination of this Contract to pay for outstanding unpaid end -of -year expenses incurred during <br />the term of this Contract in conformance with Exhibit "A," as may be amended in accordance <br />with this Contract. <br />This Contract shall be construed in accordance with the laws of the State of Texas, and <br />in particular CHAPTER 351 OF THE TEXAS TAX CODE. <br />VII. CVB ASSETS <br />The Chamber shall keep its equipment, supplies, vehicles and other assets separate from <br />those purchased with CVB Funds and to be used in the performance of this Contract. The <br />latter shall be inventoried and identified as property of the City. Inventory lists shall be provided <br />by the Chamber to the CVB Advisory Board and the City upon request. Subsequently acquired <br />assets of this nature shall be similarly separated from Chamber assets, inventoried and <br />identified. <br />VIII. MISCELLANEOUS <br />A. Authority of Signatories. Each of the persons executing this Agreement represents <br />that he or she has full power and authority to execute this Agreement on behalf of the party that <br />person represents. <br />