Resolution 2013-47 - Needs Fully Executed Agreement

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and its rights pursuant to this Agreement shall be suspended, but the terms and obligations of this Agreement will continue as to the remaining Parties, and any of the remaining Parties may take appropriate action to enforce this Agreement. VIII. FUTURE FACILITY REPLACEMENT OR EXPANSION A. The HMM Facility is expected to serve the needs of Boulder County for the next twenty years and beyond. In anticipation of future equipment needs, or facility expansion or replacement needs, the Parties each agree, subject to appropriation of sufficient funds therefor, to pay an additional 5% above actual quarterly operational expenditures for each quarter of each year for the term of this Agreement, which shall be placed by the County into a restricted fund and used only for future equipment needs or facility expansion or replacement. This is expected to generate approximately One Hundred Forty-Four Thousand and Five Hundred Dollars ($144,500) over 5 years. Any expenditures from the restricted fund shall be approved by the Parties in writing. B. The surcharge for future equipment and facility replacement or expansion, noted in Section III C. above, will ensure that business customers also contribute to future capital expenditures. C. The Parties also agree that during the term of this Agreement all donations received by the HMM Program, whether the donation is designated for a particular community or not, will be added to the restricted funds as set aside for future equipment needs or facility expansion or replacement. D. With regard to future facility replacement or expansion, the Parties further agree that: 1. The County will remain the sole owner of the building and property asset represented by the HMM Facility. The Parties anticipate that they will share proportionally in any future replacement or expansion of the HMM Facility. To the extent that such costs are shared proportionally by the Parties, such additional capital contributions by the Municipalities should be recoverable in the event the County is in default of this Agreement. 2. Producers and retailers of hazardous products benefit from the sale of such products, bear significant responsibility for the recycling or proper disposal of unwanted hazardous products or associated wastes, and will be asked to contribute to the capital costs of any expansion or replacement of the facility. 3. Generators of CESQ Business Waste will benefit from any expansion or replacement of the HMM Facility and should also share in the capital cost of any expansion or replacement of this facility. IX. DEFAULT A. The County shall be in default of this Agreement if it uses the HMM Facility for a purpose other than Hazardous Waste management, as specified in this Agreement, or for any other waste reduction purposes not previously approved by the Parties. The 20 -year restrictive covenant herein attached as Attachment B (the "Restrictive Covenant') is hereby incorporated into this Agreement. B. In the event of the County's default pursuant to Paragraph A of this Section IX, any Party may give the County written notice of default. If the County has not remedied the complained of default within sixty days of receiving such notice of default, then the complaining Party may demand repayment of its "Adjusted Financial Interest," defined in Paragraph D, below, as well as its contribution to the 8