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<br />~ <br /> <br />period with permission of the City for a period of 30 years <br />after its installation. <br />D. The City agrees to submit to LCWSD prior to <br />formulating its final plans and specifications its proposals <br />for any capital improvements it contemplates making during <br />the life of the contract, a portion of which is to be placed <br />in LCWSD' s cost, for LCWSD' s review and comment, provided <br />the estimated cost of such improvement(s) exceeds $50,000.00 <br />and that no emergency exists. City also agrees to build <br />such capital improvements in a cost efficient manner and to <br />send LCWSD a notice for bid on such capital improvements. <br />E. Each party hereto is in charge of and solely <br />responsible for the water covered in this contract while it <br />is in the respective party's possession. <br />F. This contract shall inure to and be binding <br />on each party's successors and assigns. <br />G. This contract is subject co approval by <br />Farmers Home Administration's State Director and Texas <br />Department of Water Resources Executive Director. <br />H. Notwithstanding the termination dates set out <br />in this contract, the parties recognize that both the City <br />and LSCSD are governmental entities that sell and distribute <br />water to the region which Pat Mayse Reservoir serves and it <br />is contemplated by the parties that at the expiration of <br />this contract by lapse of cime that parties will in good <br /> <br />17 <br />