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8 <br /> <br />5. TERM. <br />A. Term. This Agreement shall commence on the Effective Date and be effective for <br />three years. <br />B. Option to extend. Client shall have the option to extend for up to two one-year <br />renewals at the same yearly price as during the Term, in the City’s sole <br />discretion, exercisable through a writing executed by the City Manager and <br />City Attorney. <br />C. Termination. This Agreement may be terminated by the Client or Balancing <br />Act upon thirty (30) days written notice of termination. In such event, <br />Balancing Act shall be entitled to receive and Client shall pay compensation <br />for all services performed by Balancing Act prior to receipt of such notice of <br />termination, except for work which fails to meet the required standard of <br />performance. <br />D. Early Termination Fee. The yearly fee under this contract is based on a three- <br />year term and as such is heavily discounted. If Client terminates before the <br />completion of the three year term, Client agrees to pay an early termination <br />fee of $2,000 and an amount equal to the difference between the discounted <br />fee and the regular fee for each year prior to notification of termination. The <br />difference between the discounted fee and the regular fee is $2,000 per year. <br /> <br /> <br /> <br />6. OWNERSHIP AND USE OF THE MATERIALS, USER CONTENT. <br /> <br />A. Creative Materials. The Parties acknowledge and agree that an integral part of the <br />services is the creation of the Balancing Act application for Client, which includes <br />the development of certain information, content, text, graphics, logos, photos, <br />videos, software and other items, as well as th eir selection and arrangement <br />("Creative Materials"). Such Creative Materials are protect ed by copyrights, <br />trademarks, patents, trade secrets and other intellectual property and proprietary <br />rights, and Balancing Act shall be considered the author of such Creative <br />Materials and retains all r ight, title and interest in and to such Creative Materials. <br />Client’s rights to use the Creative Materials are limited to use solely in connection <br />with this Agreement, and the rights and obligations granted hereunder. Any rights <br />granted to Client under this Agreement to use the Creative Materials shall cease <br />upon the termination of this Agreement. <br /> <br />B. User Content. The Par ties acknowledge and agree that the user content generated <br />on the Balancing Act website by others who are not parties to this Agreement is <br />not owned by eith er Balancing Act or Client but can be used by eith er Party for