Laserfiche WebLink
3. Any remaining surplus shall be split equally between the City and the YMCA. <br />However, upon mutual consent by the City and the YMCA, any or all of such <br />surplus can be used to expand recreation programming or other services in <br />subsequent years. <br />In subsequent years, the amounts identified above in the annual deficit and surplus <br />calculations shall be adjusted using the CPI factor identified in Article IV A above. <br />C. Other Services <br />The City will reimburse the YMCA on a monthly basis for its costs associated with <br />providing the following services: <br />1. Ice skating supervision. Actual annual reimbursement shall not exceed $10,750 in <br />1999; <br />2. Playground supervision. Actual annual reimbursement shall not exceed $3,400 in <br />1999; <br />3. Program leadership. Actual annual reimbursement shall not exceed $12,950 in <br />1999; and <br />4. Middle school leadership. Actual annual reimbursement shall not exceed $4,400 in <br />1999. <br />Such reimbursement shall be in addition to the compensation in Article IV A above. <br />The YMCA's costs shall include all direct costs for such services plus a 12.5% <br />administrative charge. Such amounts shall automatically increase by the same factor <br />identified in Article IV A above. <br />The services outlined in this section (Article IV C) may be modified at any time by the <br />mutual written consent of both the City and the YMCA. <br />ARTICLE V: PERFORMANCE BOND AND INSURANCE PROVISIONS <br />A. Performance Bond. The City reserves the right to require, in its sole discretion, that <br />YMCA post a bond, certificate of deposit, or other similar instrument approved by the City <br />in an amount as the City reasonably deems to be adequate compensation for damages <br />resulting from YMCA's nonperformance of its obligations under this Agreement. The City <br />agrees to provide the YMCA with one hundred and eighty days advance notice of its intent <br />to require such bond, certificate of deposit, or other similar instrument. <br />B. Insurance. YMCA will maintain in full force and effect, at its own cost and expense <br />during the term of the this Agreement the following insurance coverage: <br />1. Commercial General Liability Insurance with limits of: <br />$2,000,000 each occurrence; <br />$3,000,000 general aggregate. <br />Including coverage for products—completed operations and personal injury and <br />advertising liability. <br />This policy shall contain an endorsement adding the City of Mounds View as an <br />additional insured. <br />