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<br />construction. Reimbursement will be determined by the following formula: [reimbursement <br />amount] = [amount of construction funds contributed by the other Parties] minus [(number of <br />years Agreement has been in force times 10%) times (amount of construction funds contributed <br />by the other Parties)]. San Marcos will make this reimbursement payment to Kyle and the <br />County within 30 days after the date of termination of this Agreement. This obligation of San <br />Marcos will survive the termination of this Agreement. If either Kyle or the County terminates <br />this agreement, the terminating party will be reimbursed for its share of the construction costs in <br />accordance with the following schedule: <br /> <br />If notice is given by April 1, 2007, for October 1,2007, termination: 75%; <br />If notice is given by April 1, 2008, for October 1, 2008, termination: 60%; <br />If notice is given by April 1, 2009, for October 1, 2009, termination: 40%; and, <br />If notice is given by April 1, 2010, for October 1, 2009, termination: 20%. <br /> <br />I. Bindine Effect. This Agreement shall take effect immediately upon execution by the Parties <br />hereof and shall inure to the benefit and be binding upon the administrators, successors and <br />assigns of the Parties hereto. <br /> <br />Agreed to and accepted this ..3 J s f day of L].... ~ ) 2006. <br />City of San Marcos <br /> <br /> <br />Agreed to and accepted this <br />City of Kyle <br /> <br />\ f6'" day of <br /> <br />Dc~ <br /> <br />2006. <br /> <br /> <br />Agreed to and accepted this 3 v-rC. day of & ~) 2006. <br />Hays County <br /> <br /> <br />5 <br />