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4.2 Maintain for the period established by the State Archivist retention schedule, financial <br /> records, kept in accordance with general accepted accounting practice and governmental accounting <br /> requirements, as necessary to document that any and all funding received through the TBD is used <br /> only for the maintenance, preservation and improvements of City streets and infrastructure in <br /> accordance with law and ordinance. <br /> 4.4 Utilize all funding provided by the TBD for transportation improvements that <br /> preserve, maintain and improve the transportation infrastructure of the City as shown and prioritized <br /> on the TBD's annual work plan in accordance with Chapter 3.85 EMC and Chapter 36.73 RCW. In <br /> 'doing so, it is the intent of the parties to the extent required by applicable law that this funding <br /> supplement, not replace,existing City funding sources for street improvements. <br /> 4.5 Undertake all other actions that may be required of the City by state law or Iocal <br /> ordinance. <br /> 5. Ownership. Streets and related transportation infrastructure preserved, maintained and. <br /> improved with TBD funds are and shall remain the property of the City. No joint property <br /> ownership is contemplated under the teens of this agreement. <br /> 6. No Joint Board.No provision is made for a joint board. The TBD shall exercise its function <br /> in accordance with the applicable statute, using staff as provided by the City, pursuant to this <br /> agreement. <br /> 7. No Indemnity. No indemnification is provided by this agreement. The parties agree to bear <br /> their respective liability for any acts or omissions resulting under this agreement as the same shall be <br /> determined under the laws of the state of Washington or any mutually approved settlement <br /> agreement. <br /> 8. Termination. This agreement shall terminate or expire as follows: <br /> 8.1 This agreement may be terminated by either party upon the provision of three hundred <br /> and sixty-five (365) calendar days notice.A final reconciliation of costs, payment, and a current report <br /> of completed activities shall be completed by City within such period following the notice by either <br /> party. <br /> 8.2 Unless sooner terminated by either party, this agreement shall expire on the date <br /> the District is dissolved in accordance with provisions of Chapter 3.85 EMC and state law, as <br /> currently enacted or hereinafter amended. <br /> IN WITNESS WHEREOF, the parties have executed this agreement on the date first <br /> written above. <br /> R9 <br />