2005/04/27 Council Agenda Packet

rinai tvtay l',LVV4 Article 17 1 3 PROPERTY OF THE POOL The Pool shall acquire, hold and dispose of real and personal property subject to the policies as established by the Board of Directors. Article 18 NOTICES Notices to Member Transit Systems shall be sufficient if mailed postage prepaid to the Governing Board of the respective Member Transit Systems at such addresses as may be given in writing to the Pool. Article 19 AMENDMENTS The governing boards of member Transit Systems may adopt amendments to this agreement. No amendment shall be adopted without at least three-fourths affirmative vote of all governing boards. Article 20 PROHIBITION AGAINST ASSIGNMENT No Transit System may assign any right, claim or interest it may have under this Agreement. No creditor, assignee or third-party beneficiary of any Transit System shall have any right, claim or title to any part, share, interest, fund, premium or asset of the Pool. Article 21 ENFORCEMENT The Pool may enforce the terms of this Agreement. In the event action is instituted to enforce any term of this Agreement or any term of the Bylaws against any present or previous Member Transit System, the prevailing party shall receive such sums as the courts may fix as reasonable attorneys fees and costs in the action. Article 22 DEFAULT If any Member Transit System fails to perform any term or condition of this Agreement and such failure continues for a period of sixty days after the Pool has given the Member Transit System written notice of such failure, the Member Transit System shall be in default hereunder. Upon default, the Pool may immediately cancel the Member Transit System's membership effective immediately without further notice, or exercise any remedies herein provided or otherwise provided by law. The rights and remedies of the Pool are cumulative in nature and pursuit of any particular remedy shall not be deemed an election of remedies or a waiver of any other remedies available hereunder or otherwise available by law. 135