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subject to appropriation through the City budget approved by the City Council for each fiscal year. <br />State laws prohibit the obligation and expenditure of public funds beyond the fiscal year for which <br />a budget has been approved. However, the cost of services covered by this Agreement is likely to <br />be a recurring requirement, and the City anticipates including this cost as a standard and routine <br />expense of the City to be included in each proposed budget within the foreseeable future. <br />Notwithstanding the foregoing, the City does not guarantee the availability of fundsin future fiscal <br />years of the City, and the City enters into this Agreement only to the extent such funds are made <br />available in the City's adopted budgets for future fiscal years. Therefore, for the avoidance of <br />doubt, the Partnership shall have no recourse against the City for failure to appropriate funds for <br />the purposes of this Agreement during any fiscal year.The fiscalyear for the City extends from <br />October 1st of each calendar year to September 30th of the following calendar year. <br />C.Retainage of Funds. The City may retain up to 20% of each quarterly payment to <br />the Partnership until all required reports and deliverables, as shown in Exhibit C,have been <br />submitted to and accepted by the City for the preceding period, at which time the retainage will be <br />released. <br /> <br />D. Termination. <br /> <br />1.Termination by City. The City reserves the right to terminate this <br />Agreement upon 30 days' written notice for any reason deemed by the City Council to serve <br />the public interest. In the event of such termination the City will pay the Partnership those <br />costs directly attributable to services received by the Cityin compliance with the <br />Agreement prior to termination. The City will not be liable for any damages or any loss of <br />profits anticipated to be made by the Partnership under this Agreement in connection with <br />any such termination. <br /> <br />2. Termination by Partnership. The Partnership may terminate this <br />Agreement upon the default by the City if the City fails to comply with any term or <br />condition of this Agreement. The Partnership must notify the City in writing of any default. <br />The City will take action so that the default is corrected within 30 days of receipt of the <br />notice. If after receipt of such notice, the City fails to timely correct the default, the <br />Partnership may immediately terminate this Agreement in its entirety by giving notice to <br />the City. <br /> <br />E. Dissolution of Partnership. In the event of the dissolution of the Partnership, after <br />the payment of all debts and obligations of the Partnership, the assets of the Partnership shall be <br />distributed to one or more exempt organizations under Sections 510(c)(6) and 170(c)(2) of the <br />Internal Revenue Code as amended, or any successor provisions, or to the federal, state, local <br />government for lawful purposes. To the extent allowed under said provisions of the Internal <br />Revenue Code and applicable laws, such distribution shall be as follows: <br /> <br />1. Contributed property shall be offered to the member entity that contributed <br />such property; <br /> <br />2. All other property shall be sold and the proceeds of sale distributed to <br />Page 11 of 22 <br /> <br />