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7. The MUD Parties intend to enter into this Agreement to create and provide for the operation of a joint development District in accordance with R.C. §715.69 for the purpose of facilitating new or expanded growth for commercial or economic development for the benefit of their residents and of the State. 8. Cleveland is an impacted city as defined in R.C. §1728.01(C). NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, the MUD Parties hereto agree and bind themselves, their agents, employees and successors, as follows: Section 1. Creation of the Municipal Utility District: Name. The MUD Parties, by their combined action evidenced by the signing of this Agreement, hereby create a joint Municipal Utility District in accordance with the terms and provisions of this Agreement, which shall be known as the "Cleveland — <INSERT MUNICIPALITY NAME> Municipal Utility District" (the "District'. Section 2. Purpose. In accordance with R.C. §715.69, the MUD Parties intend that the creation and operation of the District shall, and it is the purpose of the District to, facilitate new or expanded growth for commercial or economic development for the benefit of their residents and of the State. Section 3. Territory of the District. The territorial boundary of the District shall be the combined total area of the municipal boundaries of the MUD Parties, Section 4. Term. Unless earlier terminated in accordance with its terms, or amended by mutual written agreement of the parties, this Agreement shall be for a term of twenty (20) years commencing on the first day after execution of this Agreement by Cleveland, and shall automatically continue in effect from year to year thereafter. This Agreement may be cancelled by either MUD Party by giving written notice to the other at least five (5) years prior to the effective date of termination, provided that no such notice may be given until fifteen (15) years after the date upon which this Agreement is executed by Cleveland. Section S. Contribution to the District. (a) Cleveland's Contribution. Cleveland's contribution to the District is its agreement to extend the term of water service agreement in accordance with the Restatement of the Water Service Agreement, executed by Cleveland and City; the assumption of ownership of the distribution systems; the cleaning, relining, maintenance, repair, and replacement responsibilities related to all infrastructure; and performance of all other covenants of Cleveland stated in this Agreement. (b) City's Contribution. City's contribution to the District is its agreement to encourage commercial and industrial development necessary or appropriate to promote economic development within the District; provide appropriate municipal services and public improvements to promote economic development; and perform all other covenants of City stated in this Agreement.