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<br />The City shall pay to Instructor Eighty ($0%) percent of the gross <br />proceeds of any and all "field trip" programs conducted by the Instructor at fihe <br />Recreation Center. <br />Insurance fees collected in connection with Instructor's services shall be <br />deducted directly from the proceeds collected by the City, however, in the event <br />of an increase in insurance costs after publicatiora of public fees, the City shall <br />bear the cost of the increased insurance fee until a new fee schedule is agreed <br />upon and published. <br />The City and the Instructor agree to consolidate ownership of all <br />gymnastic equipment, whether owned by one party or the other, or as owned by <br />both at various percentages. The parties agree to the inventory and valuation of <br />all such property, as prepared and attached hereto as Schedule A, subject to <br />modification, depreciation, and other adjustment;s noted therein. The parties <br />further agree to a buy-out schedule which provides for the purchase of certain <br />property, the payment of which shall be paid by the Instructor, based upon <br />Schedule B attached hereto. The City will transfer and retitle such personal <br />property on Schedule B at the conclusion of the term hereof. <br />In the event that this contract is terminated prior to the end of this term or <br />prior to the Instructor's acquisition of all of the property listed in either Schedule, <br />then the Instructor's interest herein shall become subject to the City`s right upon <br />termination, as described herein. The Instructor's right to buy-out the City's <br />interest in any such remaining property listed on either Schedule upon termination <br />shall be reasonably negotiated prior to the remaval of such property from the <br />Recreation Center, allowing the Instructor reasonable time to obtain commercial <br />financing and the City to consider terms for buying out the Instructor or replacing <br />the said equipment. <br />Section VI <br />Option to Terminate Contract for <br />Permanent Disability of Instructor <br />Notwithstanding anything in this agreement to the contrary, the City has <br />the option to terminate this agreement in the event that during its term Instructor <br />shall become permanently disabled as the term as the term permanently disabled <br />is defined below. Such option shall be exercised by the City giving notice to <br />Instructor by registered mail, addressed to her in care of the City at North <br />Olmsted City Hall, or at such other address as Instructor shall designate in <br />writing, of its intention to terminate this agreement on the last day of the month <br />during which such notice is mailed, and on the giving of such notice this <br />agreement and the term of this agreement come to an end on the last day of the <br />month in which the notice is mailed, with the same force and effect as if that day <br />were originally set forth as the termination date. For the purposes of this <br />agreement, Instructor shall be deemed to have become permanently disabled if, <br />during any year of the term of this agreement, because of ill health, physical or <br />mental disability, or for other causes beyond her control, she shall have been <br />continuously unable or unwilling or have failed to perform her duties under this <br />5 <br />