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EG &E compensation for performance of duties in this Agreement, such compensation shall be <br />provided in an amendment to this Agreement executed by both parties. <br />SECTION 5 TERM AND TERMINATION <br />A. The term of this Agreement shall be three (3) years. This Agreement may be renewed for <br />two (2) successive terms of one (1) year upon Lakewood providing at least sixty (60) days' written <br />notice to EG &E of its intention to renew the Agreement. <br />B. Either party may terminate this Agreement with or without cause by giving the other party <br />not less than sixty (60) calendar days' written notice of its intent to terminate the agreement, <br />provided that the terminating party has provided the other party with a reasonable opportunity to <br />meet, confer and consult with the terminating party in an effort to avoid the termination of the <br />Agreement. <br />C. Upon the termination of this Agreement, the EG &E shall take commercially reasonable <br />steps to discontinue all services and cause all engineers, architects and other design professionals <br />and all contractors to cease rendering services in a commercially reasonable manner. EG &E shall <br />deliver or otherwise make available to Lakewood all data, drawings, specifications, estimates, <br />reports, summaries, and such other information and materials as may be reasonably required by <br />Lakewood, whether completed or in process. <br />D. Upon termination, Lakewood shall pay EG &E all invoices for utility usage data purchased <br />and engineering completed under this Agreement through the effective date of the termination of <br />this Agreement in accordance with the terms and conditions outlined in Section 4 aboved. <br />However, EG &E shall submit all invoices to the City not later than 60 days after the date of <br />termination. <br />E. Upon termination EG &E shall provide Lakewood with all deliverables completed to date as <br />described in Section 2 above within 30 days of termination. <br />SECTION 6 AUDIT AND EXAMINATION OF ACCOUNTS <br />EG &E shall maintain books, records, documents and other evidence directly pertinent to the <br />performance of its duties under this Agreement in accordance with generally accepted accounting <br />principles. Lakewood shall have access to such books, records, documents and other evidence for <br />the purpose of inspection, audit and copying during normal business hours. <br />SECTION 7 ASSIGNMENT; COMPLIANCE WITH LAW; NO THIRD PARTY <br />BENEFICIARIES <br />Neither Party may assign its rights or obligations under this Agreement without the prior <br />written consent of the other Party; provided that such consent may not be unreasonably withheld. <br />Each Party shall perform its obligations in accordance with all applicable laws, riles and <br />regulations, now or hereinafter in effect. This Agreement is not intended to benefit any third parties <br />and no such third parties may claim any rights or benefits hereunder. <br />4 <br />