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Y i � <br />expenditures over the previous five years plus 1/3 of the entity's <br />total percentage of population residing in the area based upon the <br />1994 Population Estimate by University of Florida Bureau of <br />Economic and Business Research. Said formula shall be reviewed <br />every two years starting September 1, 1998. <br />3. This agreement shall take effect on September 1, <br />1996 and shall terminate on August 31, 2026. This agreement shall <br />also govern the division and distribution of proceeds of the local <br />option gas tax imposed through August 31st but not collected or <br />otherwise available for distribution until after August 31st of the <br />year the agreement terminates. <br />4. If, during the term of this agreement, any party <br />hereto becomes ineligible to receive a share of the local option gas <br />tax for any reason, any funds otherwise undistributed because of <br />ineligibility shall be distributed to eligible governments within <br />COUNTY in proportion to other monies distributed pursuant to <br />paragraph 1 herein and the share shall be calculated pursuant to <br />the formula contained within paragraph 2 herein. <br />5. By execution of this agreement, neither the <br />COUNTY nor the TOWN will be deemed to have waived any rights <br />or remedies they may have available under the laws of the State of <br />Florida. <br />6. This agreement shat be executed in duplicate and <br />each fully executed contract shall be deemed an original <br />instrument. <br />3 <br />XV 1�111111M' <br />s <br />