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<br />I <br /> <br />I <br /> <br />I <br /> <br />correct the default or deliver the required confirmation, the City may immediately terminate this <br />Agreement. In the event of termination of this Agreement, the City may require the Chamber to <br />remit the remaining funds under this Agreement to the City. <br />C. The City's pursuit of one or more remedies for any default by the Chamber will not <br />constitute an election of remedies by the City. <br />8. MISCELLANEOUS <br />A. The Chamber shall not assign any of its rights, or delegate or subcontract any of its duties <br />under this Agreement, in whole or in part, without the prior written consent of the City. <br />B. It is understood and agreed between the parties that the City and the Chamber, in <br />executing this Agreement, and in performing their respective obligations, are acting independently, <br />and not in any form of partnership or joint venture. The City assumes no responsibilities or <br />liabilities to any third parties in connection with this Agreement, and the Chamber agrees to <br />indemnify, defend and hold the City harmless from any such liabilities. <br />C. The Chamber agrees to provide to the City audited financial statements regarding the ED <br />Funds provided to the Chamber by the City during the City's 2003-04 fiscal year, no later than <br />February 15,2005. <br /> <br />EXECUTED on November 9 <br /> <br />,2004. <br /> <br />CITY OF SAN MARCOS <br /> <br /> <br />By: <br />Dan O'Leary, <br /> <br />SAN MARCOS HI PANIC C~MBER OF COMMERCE <br /> <br />By: \ <br />Lya Rain <br /> <br /> <br />By: <br />Richard Garza!, President <br /> <br />7 <br />