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10/29/96 18:14 FAX 7855699 NSC 11002 <br /> • <br /> 111110 <br /> II. Relationship of MASC as Operator to all Parties <br /> With the advent of the MASC assuming greater responsibility for the fourth rink, there is <br /> no change in the status of the other parties as far as risk or benefits. <br /> A.. Winter Season (October 15 -March 15; 1320 hours/rink). Each rink's respective <br /> partner(s)will be responsible to consume these 1320 hours. (Note: there are no <br /> unsold hours in the Twin Cities in this time period). <br /> B. Spring(March 15 -May 30)IFall(September 1 -October 15). Each rink's respective <br /> partner(s)has the responsibility to consume 440 hours in the spring and 320 hours in <br /> the fall, for a total of 760 hours. However,the MASC will market all spring/fall ice <br /> hours that are released back to the facility. Currently the MASC has parties willing <br /> to contract for 2000 hours in the spring/fall season [2000 hours divided by 4=500 <br /> hours/rinki. <br /> If the parties choose to release all of their 760 hours/rink of the spring/fall ice,the <br /> MASC is confident that all of these hours can be contracted before the facility <br /> opens. <br /> 1111 NOTE: all hours that are marketed by the MASC in the spring/fall are always credited <br /> equally to all four sheets. <br /> C. Summer(June/July/August). The MASC is responsible for all summer hours. <br /> Every hour that the MASC books over 2080 hours is credited to all parties equally. <br /> HI. Master Agreement <br /> We are close to incorporating all concerns of the partners in the Master Agreement. <br /> Please note that the section has been clarified to guarantee that all parties retain full <br /> rights after 25 years hut have no minimum guarantee after that time. <br /> IV. Time Table <br /> November 25, 1996 -the MASC Board will meet to award Mighty Duck grants and <br /> to approve the Super Rink project. <br /> December, 1996-all government parties need to make all contingencies final so that <br /> the Master Agreement can be executed. <br /> • <br />