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D. Term of Agreement. This agreement shall be in effect until the first of the following occurrences: 1) Termination in accordance with Section 2A hereof; 2) Transfer of the land by ACHRA to a third party following non - exercise by the City of its Right of First Refusal; 3) Exercise by the City of its Right of First Refusal. E. Records, Accounts and Reports. The ACHRA and the City shall establish and accounting t maintain such funds and accounts as may be required by good ac ounttn practices. The relevant books and records of the ACHRA and the City shall be subject to the provisions of Minnesota Statutes, Chapter 13, the Minnesota Government Data Practices Act, and Minnesota Statutes, Section 16B.04. F. Disposition of Excess Revenues. At the time that the bonds used to finance the Project are paid in full, should there be any funds remaining from Project revenues or proceeds from the sale of the Facility Site, such funds shall be divided equally between City and ACHRA, after first reimbursing City for the actual costs expended by City in acquiring the Facility Site, together with simple interest thereon at the average annual passbook rate experience by City from the date of payment to the date of reimbursement. Annual project operating revenues, if any, in excess of debt service and other operating costs of the Project, shall be accumulated in an operating reserve in an amount not in excess of one year's debt service and operating costs, and thereafter shall be distributed at the end of each bond year equally between the City and the ACHRA. G. Indemnification Agreement. City does hereby agree to indemnify, save, defend and hold the ACHRA, its employees, agents, directors, trustees and servants, harmless from any and all claims, demands, liabilities and costs, including without limitation attorney's or other professionals' fees and the costs of investigation and remediation, arising from (a) any release of, or threat of a release of, oil or hazardous materials or substances or of any environmental hazards or potential hazards, actual or alleged, upon or about the property described in Exhibit A (hereinafter "Facility Site ") or respecting any products or materials previously or now located upon, delivered to or in transit to or from the Facility Site occurring prior to or during the period of 8