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4.2.3. Rate on Overdue Payments. In the event a Member or Terminated <br />Member fails to make any of the payments required in this Article, the payment in <br />default shall continue as an obligation of the Member or Terminated Member until the <br />amount in default shall have been fully paid, and in addition to any remedies available <br />with respect to such default, the Member or Terminated Member agrees to pay the <br />same with interest thereon. Interest shall be calculated using the BICEP's average <br />earnings rate as determined in the latest 12-month Investment Performance PorFolio <br />prepared by BICEP's investment managers, but not to exceed the highest rate <br />permitted by law from the date such amount was originally payable. This provision can <br />be waived by the Board on a case-by-case basis. <br />4.2.4. Termination of Coverage. In no event shall termination of <br />Coverage due to withdrawal or expulsion release a Member from its obligation to pay <br />damages resulting from default under the terms of this Program or from its obligation to <br />pay their Self-Insured Retention of Claims within the scope of Coverage prior to such <br />withdrawal. BICEP shall continue to pay Settlement of Claims relating to the withdrawn <br />Member within the scope of Coverage prior to withdrawal as provided herein, unless the <br />Member defaults in the payment of its continuing obligations described in the preceding <br />sentence. Notice to withdraw shall be revocable by the Member only with the consent <br />of BICEP. <br />4.2.5. Member's Rights Upon Dissolution of BICEP. In the event of the <br />dissolution of BICEP in accordance with Article VI of the Bylaws, the terms and <br />conditions of this Workers' Compensation Program shall remain in full force and effect <br />until such time as all Claims within the scope of Coverage have been finally determined <br />and/or paid. <br />IN WITNESS WHEREOF, the undersigned Member acknowledges reading, fully <br />understanding and accepting the terms and provisions of the Program. <br />Date: July 1, 2006 g ~ ~ ~'. <br />Print Name: lY' <br />City Manager <br />AITEST# ; <br />~ ~__ , ~ ,~ <br />PATR/C/A F. HEALY ~ ~~ <br />CLERK OF THE CO~INC/L <br />/ <br />Workers' Compensation Program <br />Ol-2]-06 <br />-4- <br />