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6 <br /> II. <br /> On or before September 15 in calendar year 2005, the City shall pay Marshland a fixed <br /> sum to partially offset Marshland's annual drainage costs attributable to City property in upland <br /> areas. In 2004 this sum was $20,955.62. On or before June 15 in each subsequent year through <br /> 2007, this sum shall be adjusted, where applicable by changes in actual costs based upon using <br /> five (5) year rolling or moving averages. In addition, the CITY shall fund a 10% contingency <br /> fee in order to assure that significant cost average changes can be covered. Any payments not <br /> made on time shall bear interest of 12% per annum (1% per month) in favor of the District. <br /> III. <br /> The Marshland Board of Directors or its designee shall serve as administrator of the <br /> storm and surface water control and treatment activities for which funds are provided under this <br /> Agreement. <br /> IV. <br /> Marshland shall keep records of all expenditures of funds paid by the City in accordance <br /> with this Agreement and shall provide the City with an annual statement of these expenditures. <br /> V. <br /> Each party hereto agrees to indemnify, protect and hold harmless the other and the <br /> other's elected and appointed officials and employees from and against all claims, demands and <br /> causes of action of any kind or character arising from and to the extent of its actions pursuant <br /> to this Agreement brought by a third party, including all reasonable costs and attorney's fees as <br /> well as costs and fees included in an appeal from the judgment of a lower court. This is not <br /> intended to limit the rights of either party to seek enforcement of the terms of this Agreement <br /> against the other. The City assumes no responsibility or liability whatsoever concerning <br /> drainage maintenance and/or operations within Marshland, except that it acknowledges its <br /> present responsibility relating to City owned realty. This Agreement does not authorize the <br /> acquisition or transfer of any real or personal property or interest therein between Marshland <br /> and the City. <br /> VI. <br /> Both parties agree that this Agreement shall not relieve either of any obligation or <br /> responsibility imposed upon either by law unless it shall be done as provided in RCW <br /> 39.34.030(5). <br /> INTERGOVERNMENTAL AGREEMENT FOR ACCOMMODATING SURFACE <br /> WATER IN THE MARSHLAND FLOOD CONTROL DISTRICT-PAGE 2 <br /> 4 <br />