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522 <br /> <br /> ARTICLE II. TERM <br /> The term of this Agreement shall commence upon the execution of this agreement and end two <br /> (2) years from the date thereof. <br /> <br /> ARTICLE III. CONSIDERATION <br /> As consideration for this Agreement, PEDC, on behalf of PARC, agrees to contribute a total <br /> of $50,000.00 in local funds for the enhancement of the project. <br /> <br /> ARTICLE IV. ALLOCATION OF FUNDS <br /> 4.01 The specific allocation of the TIFB funds is to PJC, on behalf of PARC, who will then <br /> distribute funds as appropriate among the members. By signing this Agreement, all the <br /> participating entities certify that each member will be held responsible for assuring that the <br /> financial records and project are managed according to TIFB guidelines. <br /> <br /> 4.02 In the event of the mismanagement of funds at the member organization level, 'this <br /> Agreement assures that each organization is responsible for managing its funds and project <br /> according to TIFB guidelines. Organizations following TIFB guidelines will not be held <br /> accountable ifa member or members within the Collaborative do not follow TIFB guidelines. <br /> <br /> ARTICLE V. AMENDMENTS <br /> This Agreement may be amended by the mutual agreement of the parties hereto in writing to <br /> be attached to and incorporated into this Agreement. <br /> <br /> ARTICLE VI. LEGAL CONSTRUCTION <br /> <br /> In case any one or more of the provisions contained in this Agreement shall be held to be <br /> invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenfurceability <br /> shall not affect any other provision thereof, and this Agreement shall be construed as it such <br /> invalid, illegal, or unenforceable provision had never been contained herein. <br /> <br /> ARTICLE VII. ENTIRE AGREEMENT <br /> <br />This Agreement supercedes any and all other agreements, either oral or in writing, between the <br />parties hereto with respect to the subject matter hereof, and no other agreement, statement, or <br />promise relating to the subject matter of this Agreement which is not contained herein shall be <br />valid or binding. <br /> <br /> EXECUTED IN MULTIPLE ORIGINALS, EACH OF WHICH SHALL HAVE THE <br />FULL FORCE AND EFFECT OF AN ORIGINAL, ON THIS the 10th day of May, 2000. <br /> <br /> Page 2 of 3 <br /> <br /> <br />