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time an attempt to reschedule the Fireworks Display shall be discussed with a view toward reaching a mutually satisfactory postponement time and/or date . In the event the mutually satisfactory postponement time and/or date is beyond the day following the scheduled Flrewerks Display and it is impracticable for the personnel and equipment of Pyrotecnico cf Flor'.dc to remain at Sponsor ' s location until the rescheduled Fireworks Display date, then Sponsor Shall pay the ocfual eyPences ^cplrred cy Pyrotecnico of Florida related to the postponement, which shall not exceed forty percent (40%) of the contract price. Actual expenses include, but are not limited to, expenses for travel, lodging, labor, meals, rentals, permit fees, set-up and/or dismantling of display, additional taxes or surcharges, or any other additional expenses that incurred prior to and/or as a result of the postponement or cancellation. In the event a mutually satisfactory postponement date cannot be determined, this contract shall become null and void and neither party shall have any obligation or responsibility hereunder provided however, that in such event Sponsor shall pay to Pyrotecnico of Florida a sum equal to seventy-five (75%) of the contract price. 6 . Cancellation. In the event Sponsor cancels this contract as provided below, liquidated damages for such cancellation shall be paid by Sponsor to Pyrotecnico of Florida as follows : a . In the event the Fireworks Display is cancelled more than thirty (30) days before the date scheduled for the Fireworks Display, twenty-five percent ( 25%) of the amount of the contract price . b. In the event the Fireworks Display is cancelled no more than thirty (30) days and no less than four (4) days before the contract, fifty percent (50%) of the contract price. c. If the Fireworks Display is cancelled no more than three (3) days but before the day scheduled for the Fireworks Display, seventy-five percent ( 757o) of the contract price. d. On the day scheduled for the Fireworks Display, one hundred percent ( 100%) . In the event that Sponsor chooses to terminate this contract it shall do so by written notice via registered mail addressed to Pyrotecnico of Florida, LLC, P.O. Box 310, New Castle, PA 16103 . Notice shall be effective upon receipt of said written notice by Pyrotecnico of Florida. In the event of circumstances beyond the control of either party, such as fire, strikes , delay, flood, acts of God or similar causes, which prevent the delivery of materials or performances as, set forth herein, the parties hereto release one another from any and all obligations and responsibilities contained herein . 7 . Governing Law. The parties agree that this contract shall be interpreted, construed , enforced and governed by the Taws of the State of Florida . 8. Modifications and Revision . Except as provided herein, the terms of this agreement shall not be modified, amended or rescinded except by written agreement signed by authorized representatives of the parties heret IN WITNESS WHEREOF, the undersigned executed this agreement by and thrortheirout agents whose names appear below. PYROTECNICO O F A,By: Title: ,4:ti : .. J ATTEST: SPONSOR: Point West of ro Beach, Florida, Ltd. ($6 ,000) By : Title: ATTEST: SPONSOR: Indian River County Board of County Commissioners ($6,000) By: Title: Pyrotecnico 1013112007 PW I IR 12/15107 $ 12,000 Pg, 717