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III. PREMISES <br /> A. Theatre shall maintain the Center premises in good condition and shall not <br /> alter or change the premises without the prior written approval of City. <br /> B. Theatre shall provide reasonable maintenance arising from the normal day-to- <br /> day use of the premises. At its expense, Theatre shall maintain and repair the premises to the <br /> extent reasonably necessary due to the conduct of Theatre personnel, patrons, or agents acting <br /> on behalf of Theatre. <br /> C. City shall be responsible for paying the cost of the following services: <br /> water/sewer; electricity; gas; garbage; phone system; City intranet network necessary for <br /> HVAC operations and electronic marquee; public WiFi; elevator maintenance; and security <br /> alarm. Theatre shall be responsible for all other costs, including janitorial service. <br /> D. City will maintain the Center building shell, including plumbing, fire <br /> suppression, electrical and HVAC. As determined by the City in its sole discretion, the City <br /> will undertake capital projects (defined as projects over$5,000 and assets that have a useful <br /> life of at least one year or more). Examples include carpet, seating or rigging replacement <br /> and major painting projects. <br /> IV. TERMINATION <br /> A. For Default <br /> Either party may terminate this Agreement for material default upon thirty days' <br /> written notice of the material default and intention to terminate. If the party responsible for <br /> the material default does not cure the default within thirty days, then this Agreement shall <br /> terminate upon the thirtieth day after written notice of the material default. <br /> B. For Convenience <br /> City may terminate this Agreement without cause upon twelve(12) months' written <br /> notice. Such notice must be given during the months of August or September to support <br /> Village Theatre's season planning schedule. <br /> V. FINANCE <br /> A. Budget <br /> No later than January 1st of each calendar year, Theatre shall provide City with an <br /> accounting of actual income and expenses of the Theatre's prior fiscal year, which ends in <br /> August, prepared and reviewed by a reputable public accounting firm. <br /> EVERETT/VILLAGE THEATRE AGREEMENT Page 4 of 10 <br />