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b. Nonmonetary Defaults. Any failure on the part of the Park District to <br />perform or observe the duties, provisions or obligations required of it <br />pursuant to this Agreement, other than as set forth in Paragraph 3.1(a) <br />above, if such failure shall have continued for a period of 60 days after <br />written notice thereof has been delivered to the Park District by the City. <br />3.2 Remedies. Upon occurrence of any Loan Default under this Agreement, the <br />City may bring any legal action or proceeding against the Park District to <br />protect and enforce its rights in equity or at law, either in mandamus or for the <br />specific performance of any covenant or agreement contained in this <br />Agreement, or for the enforcement of any other appropriate legal or equitable <br />remedy, as the City, being advised by counsel, may deem most effectual to <br />protect and enforce any of its concurrent or reserved rights or interests <br />hereunder with respect to: (1) the payment of principal, interest, fees or <br />amounts due; (2) indemnifications and reimbursements due to the City by the <br />Park District; and (3) receipt of reports and notices. <br />4. RECORDS INSPECTION AND AUDIT <br />All funds advanced and repaid shall be subject to adjustment for any amounts <br />found upon audit or otherwise to have been improperly advanced or reimbursed, <br />and all records and books of accounts pertaining to the Loan provided under this <br />Agreement shall be subject to inspection and audit by either party for a period of <br />up to three (3) years from the final payment by the Park District for <br />reimbursement of the Loan provided by the City. <br />5. ADMINISTRATION OF AGREEMENT <br />This Agreement shall be administered by Peggy McCarthy, Interim Finance <br />Director or designee on behalf of City, and by Kimberly Matej, Interim Executive <br />Director, or designee on behalf of the Park District. Any written notices required <br />by the terms of this Agreement shall be served on or mailed to the following <br />addresses: <br />CITY OF TUKWILA <br />Peggy McCarthy <br />Interim Finance Director <br />Tukwila, WA 98188 <br />Phone: 206 433 -1839 <br />PARK DISTRICT <br />Kimberly Matej <br />Interim Executive Director <br />Tukwila, WA 98188 <br />Phone: 206 433 -1834 <br />INTERLOCAL AGREEMENT <br />Page 3 of 6 <br />