2006-075-RES-LAMAR CO. WATER SUPPLY DISTRICT

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days. Action taken under this sub Article does not relieve LCWSD from its obligation to pay the monthly Demand Charge and Capacity Charge. 4.9 REGULATORY REQUIREMENTS. This Agreement is subject to Regulatory Requirements. However, nothing contained in this Agreement shall be construed as a waiver of any right to question or contest any law, ordinance, order, rule or regulation in any forum having jurisdiction, and Paris and LCWSD each agree to make a good faith effort to support proposed laws and regulations that would be consistent with the perfOlmance of this Agreement in accordance with its tenns. Paris and LCWSD agree to secure all Approvals as necessary and to maintain compliance with all their Approvals as necessary to fulfill their obligations hereunder in compliance with all Regulatory Requirements. ARTICLE V - TERM 5.1 TERM. The tenn of this Agreement is twenty (20) years from the Effective Date unless earlier tenninated in accordance with the provisions hereof. LCWSD agrees that Paris has no duty or obligation to provide Treated Water, or any other type of water, to LCWSD after expiration or tennination of this Agreement. 5.2 RENEWAL. This Agreement may be renewed and extended for up to four successive periods of five (5) years each upon mutual written agreement by the Parties to extend the tel111 of this Agreement. If LCWSD desires to extend this Agreement, it will provide written notice of its request to renew the Agreement at least one (1) year prior to the te1l11ination date of the Agreement. If at least one (l) year prior to the expiration date of this Agreement or its subsequent extension LCWSD has not provided Paris notice that it intends to renew, LCWSD shall provide Paris evidence that LCWSD has secured an alternative and sufficient water supply. This requirement is enforceable by specific perfonnance. ARTICLE VI - EVENTS OF DEFAULT; TERMINATION 6.1 DEFAULT BY LCWSD. In addition to the other tennination provisions of this Agreement, each of the following events or conditions shall constitute an "Event of Default" by LCWSD hereunder for which Paris may te1l11inate the Agreement as provided in Article 6.4: (a) LCWSD fails to observe or perfonn any of its covenants or material duties or obligations contemplated by this Agreement, and such failure is not cured within thirty (30) days after notice thereof from Paris; (b) LCWSD (i) files a petition or otherwise commences, authorizes or acquiesces in the commencement of a proceeding or cause under any bankruptcy or similar law for the protection of creditors, or have such petition filed against it, and such 19 Paris/LCWSD Wholesale Treated Watcr Contract