Agenda Packets - 2013/05/06 - Laserfiche WebLink

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First Part — $250,000 after design approval pursuant to this paragraph IV. Second Part — $250,000 90 days after first part payment. The DOWN PAYMENT portion of the financing shall be made by Ramsey County on behalf of SAMN as follows: First Part — $100,000 after design approval pursuant to this paragraph IV. Second Part — $400,000 90 days after first part payment. Prior to the payment of any part of the DOWN PAYMENT portion of the financing MASC will submit a proposed design to the other parties. The design shall provide for four (4) Olympic sized ice surfaces with permanent seating capacity of not less than 400 seats per rink and provision for at least 400 temporary seats which are available for use at any one of the rinks. In addition, the design will provide adequately for equipment, locker rooms, concessions and toilet areas and all other space and equipment reasonably necessary for the operation of the facility. Each party shall have at least 30 days to review the proposed design. After this 30 day review period, MASC may demand payment of the first part of the DOWN PAYMENT, portion of the financing. Payment of the first part of the DOWN PAYMENT means that the proposed design is accepted by that party. Failure to pay within 30_days after the demand means that the party failing to pay has withdrawn from this agreement and this agreement shall be void as to all parties. . If the required DOWN PAYMENTS are made, MASC will cause the facility to be constructed substantially in accordance with the proposed design. After design approval, any substantial modifications not increasing the overall cost of the facility by more than $50,000 may be made by a majority vote of the Joint Board. After design approval any substantial modifications to the design which increases the overall cost of the facility by more than $50;000 may be made only after a unanimous vote of the Joint Board. V. EXPANSION MASC shall have the right to expand the number of ice sheets on its property beyond four provided that: If such expansion is physically connected to this facility all parties shall have pro rata right of first refusal to purchase additional scheduling and programming rights on such terms and conditions as are offered by MASC. Exception: It is contemplated that MASC in connection with financing the construction of this facility, may make certain covenants to Anoka County in connection with the operation of Columbia Ice Arena. In such case, MASC shall be permitted to fulfill its covenants as a priority over rights granted by this paragraph.' V1. DEFAULTS AND FAILURES TO PERFORM If any party defaults on any of its obligations under this agreement and such default continues for a period in excess of 30 days after written notice is mailed to such parry, the other parties shall have right of first refusal on all of the defaulting party's assets, liabilities, rights and obligations in connection with the facility and this agreement, under such terms conditions and procedure as are determined by the agreement, under such terms conditions and procedures 11