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7.1 The term of this Agreement begins on the effective date established in the first paragraph <br />of the Agreement and includes the period of installation, testing and final acceptance of the <br />System as well as a five year extended warranty period. Such final acceptance will be <br />documented in writing by the City based on the acceptance process established in subsection <br />1.1.15 and this acceptance will fix the date for the commencement of the extended warranty <br />period. <br />7.2 Funds for the payment for work performed by the Contractor under this Agreement have <br />been provided through the City's budget approved by City Council for the current fiscal year <br />only. State statutes prohibit the obligation and expenditure of public funds beyond the fiscal year <br />for which a budget has been approved. The City cannot guarantee the availability of funds, and <br />enters into this Agreement only to the extent such funds are made available. The Contractor <br />acknowledges and agrees that it will have no recourse against the City for its failure to <br />appropriate funds for the purposes of this Agreement in any fiscal year other than the year in <br />which this Agreement was executed. The fiscal year for the City extends from October 1 st of <br />each calendar year to September 30th of the following calendar year. <br />7.3 This Agreement may be terminated by either party upon 15 calendar days prior written <br />notice should the other party fail substantially to perform in accordance with its terms through no <br />fault of the party initiating the termination. The Contractor will provide the City with at least a <br />30 day opportunity to cure before the Contractor initiates termination. <br />7.4 The City may terminate this Agreement for convenience and without cause upon at least <br />30 calendar days prior written notice to the Contractor. No early termination penalties or <br />liabilities may be imposed or assessed against the City for early termination except as may be <br />mandated by applicable law, rule, tariff, regulation or order. <br />7.5 In the event of termination as provided in this Article, the City will compensate the <br />Contractor for all services performed to termination date, which are deemed by the City to be in <br />accordance with this Agreement. The City will pay this amount upon the Contractor's delivering <br />to the City all information and materials developed or accumulated by the Contractor in <br />performing the services described in this Agreement, whether completed or in progress. The <br />expense of reproduction of these items will be borne by the City. <br />ARTICLE 8 <br />WARRANTIES <br />The Contractor expressly warrants and represents: <br />8.1 GENERAL WARRANTIES <br />Outdoor Siren Warning System Agreement 6/2012 <br />15 <br />