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. <br /> NATIONALCEE ARENA DRAFT DRAFT <br /> 0MASTER AGREEMENT April 26, 1996 <br /> he parties agree as follows: <br /> I. PURPOSE <br /> The purpose of this agreement is to enable the construction and operation of a facility consisting of <br /> four olympic sized ice surfaces and related facilities on the property of the National Sports Center, <br /> 1700 105th Avenue NE, Blaine, Minnesota. This agreement is intended to govern the rights, obliga- <br /> tions and conduct of the "parties" (as hereinafter defined) with respect to the construction, operation <br /> and financing of the facility. "Parties" consisting of more than one entity may have agreements among <br /> one another not inconsistent with this agreement. It is understood that the bonding authority may <br /> require certain covenants in connection with the financing of the facility. Such covenants, to the extent <br /> inconsistent with this agreement take precedence over this agreement. This agreement is authorized <br /> and executed pursuant to Minnesota Statutes Section 471.59. . <br /> II. PARTIES <br /> The five parties to this agreement are: <br /> (1) City of Moundsview, City of Arden Hills, City of New Brighton, City of Shoreview and School <br /> District #??, hereinafter"MANSS." <br /> 0 (2) City of Blaine, hereinafter"BLAINE." <br /> (3) City of Coon Rapids, hereinafter "COON RAPIDS." <br /> (4) City of Forest Lake, City of Spring Lake Park, hereinafter "FOSLP." <br /> (5) Minnesota Amateur Sports Commission, hereinafter"MASC." <br /> III. TERM <br /> This agreement shall be effective as of the date set forth above, and shall terminate on the later of the <br /> first day of January of the year 20 years following the date on which the bonds sold to finance the <br /> arena are issued and delivered or the day following the final maturity date of the bonds. <br /> IV. FINANCING <br /> It is contemplated that the construction and related cash costs of the facility will be approximately <br /> $8,000,000.00 (eight million dollars) and that these costs will be borne by the parties as follows: <br /> DOWNPAYMENT <br /> Each PARTY except MASC will pay to MASC a downpayment of$500,000 (five hundred thousand <br /> dollars) in cash as described in PART IV below. <br /> 110 It is agreed that the MASC contribution of land and related facilities goods and services described in <br /> Exhibit constitute its entire obligation under the downpayment portion of FINANCING. <br /> 1 <br />