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City agree to assume the responsibility to fund the shortfall by the City paying for one half of the <br />shortfall and the County paying for the other half of the shortfall, provided that neither the City <br />nor the County's maximum financial responsibility for funding the construction of the Interchange <br />Project shall exceed $10,000,000.00. If sufficient funds for the construction of the Interchange <br />Project are secured prior to the termination of this agreement, the parties hereto shall acknowledge <br />said fact through an amendment to this agreement whereby all sources of funds are identified and <br />each party's obligation is clearly set forth therein. <br />III. ACKNOWLEDGEMENT <br />Both parties acknowledge that this Memorandum of Understanding (MOU) is a non- <br />binding statement of intent. Any binding agreements executed by the parties subsequent to this <br />MOU will be made pursuant to written and properly executed and approved agreements. <br />IN WITNESS WHEREOF, the parties to this Agreement have hereunto set their hands on <br />the dates written below. <br />COUNTY OF ANOKA CITY OF RAMSEY <br />By: By: <br />Rhonda Sivarajah, Chair <br />County Board of Commissioners <br />Dated: Dated: <br />ATTEST <br />By: By: <br />Jerry Soma Kurt Ulrich <br />County Administrator City Administrator <br />Dated: Dated: <br />2 <br />Sarah Strommen <br />Mayor <br />