2018/08/08 Council Agenda Packet

{ and either party hereto shall be free to pursue, at the same time, each and every remedy, at law or in equity, which it may have under this Agreement, or otherwise. Section 5.03. No Implied Waiver. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. For the exercise of any remedy, it shall not be necessary to give any notice, other than such notice as may be expressly required herein. Section 5.04. Agreement to Pay Attorneys' Fees and Expenses. If a default arises under any of the provisions of this Agreement and either party hereto should employ attorneys or incur other expenses for the collection of amounts due under this Agreement or the enforcement of performance or observance of any obligation or agreement on the part of the other party contained in this Agreement, on demand therefor, the substantially nonprevailing party shall pay or reimburse the substantially prevailing party for the reasonable fees of such attorneys and such other expenses so incurred. ARTICLE VI Interlocal Agreements This Agreement is intended to replace in its entirety the terms of the Annual Contribution Interlocal, the Hotel/Motel Tax Interlocal Agreement, the 2014 Interlocal Agreement and the 2015 Scoreboard Interlocal Agreement. Upon the issuance of the 2018 Bonds, the Annual Contribution Interlocal, the Hotel/Motel Tax Interlocal Agreement, the 2014 Interlocal Agreement and the 2015 Scoreboard Interlocal Agreement shall be deemed satisfied and fully discharged. The parties acknowledge that: they have entered this Agreement pursuant to the express authority granted to them by RCW 67.28.130. Pursuant to RCW 39.34.100, the powers and authority conferred by the Interlocal Cooperation Act (chapter 39.34 RCW) are supplemental to powers or authority conferred by RCW 67.28.130; and nothing contained in the Interlocal Cooperation Act limits the power or authority of either party to contract pursuant to RCW 67.28.130. To avail themselves of the supplemental powers and authority granted by the Interlocal Cooperation Act,the parties agree that: (a) No separate legal or administrative entity within the meaning of RCW 39.34.030(3)(b) or"joint board" within the meaning of RCW 39.34.030(4)(a) is created by this Agreement; (b) The Distiict will adopt and provide the City with an Event Center operating budget for the following year by each December 31, and will further provide the City with all amendments to such budgets as they are adopted by the District; (c) The Finance Director-Treasurer is appointed as the "administrator" within the meaning of RCW 39.34.030(4)(a) responsible for administering the City's rights and duties set 6-§0- 501534419 v3