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3. During the Hold Harmless Period, the City agrees to modify Article X, Calculation of Local Share of Operating Costs, of the Cost Allocation Agreement and add section (C) as follows: Article X. _Calculation of Local Share of Operating Costs [* " *l C. The fiscal year of the Commission shall begin on July I and conclude on June 30. On or before June 30, 2020, the Commission shall allocate mailable and eligible federal and state funding to each Participating City in such a manner as to first offset the loss of recordation tax revenue to a Participating City as a result of Virginia Code § 58.1 -816. The offset amount for each Participating Cite sti ill be equal to the amount, stated in the table attached to this Agreement as Exhibit I ("Recordation Offset "). The Recordation Off,,et for each Participatin« City ,hall he retained in full h% the Conuni „ion and applied in it,, entirct% to the hudgeted total loc,11 ,hue of Local Fund, for that Participating Cits, to ,tatcd in the Participating City TSP for FY2021. In the went the actual total local share of Local Funds is less than the budgeted total local share of Local Funds for a Participating City, after the application of the Recordation Offset, in FY2021 ("Surplus'). then such Surplus shall be refunded in full by the Commission to that Participating City on or before August 1, 2022. In the event the actual total local share of Local Funds, exceeds the budgeted total local share of Local Funds for a Participating City, after the application of the Recordation Offset, in FY2021 ( "Deficit "). then such Deficit shall he paid in full by the Participating City to the Commission on or before August 1, 2022. ` As long as a Participating City receives a Recordation Offset from the Commission, such Participating City shall support the Commission as the transportation district in the Hampton Roads region to receive none, s from the Hampton Roads Regional Transit Program and Fund (Fund) established pursuant to Virginia Code § 33.2 -2600, as may be amended from time to time. 4. Except for the obligation for the Commission to pay any surplus to the City of Portsmouth or the City to pay any deficit to the Commission by August 1, 2022, on July 1. 2021, all amendments to the Allocation Agreement contemplated by this Resolution shall automatically terminate, be deleted from the Allocation Agreement and of no further effect without the need of further action by any party to the Allocation Agreement. I