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CITY NEW BRIGHTON _._ TEL :63820443Apr 26 '96 12 :39 No .017 P .06 <br /> X. AMENDMENTS <br /> This agreement may not be amended except by unanimous vote or the undersigned or their successors <br /> • In office or interest as the case may be. <br /> X STATE AUDITS <br /> The books, records,documents and accounting procedures and practices of the CONTRACTOR rele- <br /> vant to this contract shall be subject to examination by the contracting department and the Legislative <br /> Auditor. <br /> XL END OF TERM-RIGHT OF RENEWAL <br /> If at the end of the term of this agreement. MASC in its sole discretion elects to continue to operate <br /> the facility as at least a four surface ice arena each party may renew its scheduling rights pursuant to <br /> the following terms and conditions. <br /> A. No further guarantees of rental revenue are required from the party <br /> B. MASC in is sole discretion will establish reasonable operating and capital reserves. <br /> C. "Profits" above those required for operating reserve purposes shall be distributed pro rata to the <br /> parties under such terms and conditions as are determined by the board of directors. <br /> D. Each party may renew its rights twice for consecutive five year extensions. <br /> E. If a party elects not be renew its scheduling rights at the and of the original or extended term of this <br />. 0 . agreements that party will be paid its pro rata share of the operating and capital improvement_:.,,.. — <br /> reserve acronnu and shall have ao further rights or interest in the facility. <br /> F. Other reasonable terms tiucl cvudicious and procedures may be imposed by the board of directors <br /> relating to renewal or non renewal of scheduling rights. <br /> Date Attorney General <br /> Date Commission=of Administration <br /> Date City of Moundsview <br /> Date City of Arden Hills <br /> 111Dats City of New Briahum <br /> 6 <br />