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1 5 <br /> Board. All assets and liabilities of the Joint Board shall be dispensed with [and <br /> property acquired or set aside during the life of the Agreement shall be disposed <br /> of in the following manner: <br /> (i) all assets contributed without charge by any Party shall revert to the <br /> contributing Party; <br /> (ii) all assets acquired by the administering agency for the purpose of <br /> carrying out the work of the Joint Board and purchased by the Parties <br /> contributions during the term of the Agreement shall be distributed to the <br /> Parties based on each Party's pro rata contribution to the overall budget <br /> during the fiscal year the asset was acquired; <br /> (iii) any liability remaining after the application of unencumbered funds <br /> shall be dispensed consistent with the approved budget as determined by <br /> the Board; and <br /> (iv) except as provided by this Agreement, all unexpended and <br /> unencumbered funds held in the Operating Fund shall be distributed by <br /> the Fiscal Agency to the Parties based on each Party's pro rata <br /> contribution to the overall budget in effect at the time the Agreement is <br /> terminated. <br /> 8. Indemnification and Hold Harmless. <br /> (a) Each Party shall, indemnify and hold other Parties (including without <br /> limitation the Party serving as, and acting in its capacity as the Administering <br /> Agency), their officers, officials, agents and volunteers harmless from any and all <br /> claims, injuries, damages, losses or suits including attorney fees, arising out of <br /> that Party's wrongful acts or omissions in connection with the performance of its <br /> obligations under this Agreement, except to the extent the injuries or damages <br /> are caused by another Party. In the event of recovery due to the aforementioned <br /> circumstances, the Party responsible for any such wrongful acts or omissions <br /> shall pay any judgment or lien arising therefrom, including any and all costs and <br /> reasonable attorneys fees as part thereof. In the event more than one Party is <br /> held to be at fault, the obligation to indemnify and to pay costs and attorneys <br /> fees, shall be only to the extent of the percentage of fault allocated to each <br /> respective Party by a final judgment of the court. <br /> (b) Should a court of competent jurisdiction determine that this Agreement is <br /> subject to RCW 4.24.115, then, in the event of liability for damages arising out of <br /> bodily injury to persons or damages to property caused by or resulting from the <br /> concurrent negligence of a Party hereto(including without limitation the Party <br /> serving as, and acting in its capacity as, the Administering Agency), its officers, <br /> officials, employees, and volunteers, the Party's liability hereunder shall be only <br /> to the extent of the Party's negligence. It is further specifically and expressly <br /> understood that the indemnification provided herein constitutes the Party's waiver <br /> of immunity under Industrial Insurance Title 51 RCW, solely for the purpose of <br /> this indemnification. This waiver has been mutually negotiated by the Parties. <br /> 84 <br />