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<br />the said equipment to any third party without first offering it for sale to the City. <br />If the City and the Instructor cannot agree upon a sale price, then the fair market <br />value of the equipment shall be determined by a qualified appraiser selected by <br />the City and such price, determined by using any reasonable method by the <br />appraiser, shall be binding. The City is under no obligation to exercise its right to <br />purchase and may waive for any reason. <br />Section VII <br />Option to Terminate Contract <br />Notwithstanding anything in this agreement to the contrary, the City has <br />the option to terminate this agreement upon Sixty (60) days written notice to <br />Instructor, with or without cause. In case of such termination, all money due to <br />Instructor shall be paid within Sixty (60) days following termination, minus any <br />necessary deductions for repairs, maintenance, or cleaning incurred by the City in <br />connection with the termination of this contract or the moving of equipment <br />owned by Instructor. <br />In the event that, for any reason, the Contract between the City and <br />Instructor is terminated, or not renewed for any reason, the Instructor shall have <br />an absolute right to remove any and all gymnastic equipment, as located in the <br />second floor gym, with the exception of the floor exercise mat, as a consequence <br />of having purchase the equipment or in which the Instructor has acquired a <br />property interest by and through this agreement. In the event that Instructor does <br />not personally retain title to and use of the equipment, then the City has the first <br />right to purchase it and Instructor shall tender an offer to sell prior to termination. <br />Upon termination, the Instructor is prohibited and enjoined from leasing or selling <br />the said equipment to any third party without first offering it for sale to the City. <br />If the City and the Instructor cannot agree upon a sale price, then the fair market <br />value of the equipment shall be determined by a qualified appraiser selected by <br />the City and such price, determined by using any reasonable method by the <br />appraiser, shall be binding. The City is under no obligation to exercise its right to <br />purchase and may waive for any reason. <br />Notwithstanding anything in this agreement to the contrary, Instructor has <br />the option to terminate this agreement upon sixty (60) days written notice to the <br />City, with or without cause, at no cost to Instructor. In case of termination or <br />breach without Sixty (60) days notice, the City shall retain Five Hundred <br />($500.00) Dollars due to Instructor as liquidated damages for breach of contract. <br />Section VIII <br />Commitments Binding upon City Only <br />If Written Consent Given <br />Anything contained in this agreement to the contrary notwithstanding, it is <br />understood and agreed that Instructor shall not have the right to make any <br />contracts or commitments for or on behalf of the City without the written consent <br />of the City. <br />6 <br /> <br />