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200412247 <br />acknowledge that conditions c., h. and i. have been satisfied. Conditions a., b. d., <br />e., ff, and g. must be satisfied on or before the delivery of the Building Bonds and <br />in any event not later thanl2:00 midnight on the fourth anniversary of the date on <br />which the Original Lease Purchase Agreement was executed and delivered <br />(October 9, 2005), otherwise this Agreement shall terminate and be of no further <br />force and effect. The fourth anniversary of the date on which this Agreement is <br />executed and delivered is October 9, 2005. <br />Heartland must also have the ability to issue the Building Bonds upon <br />satisfaction of the foregoing conditions as contemplated by this Agreement <br />pursuant to Section 103 of the Code and in conformity with the rules and <br />requirements of Rev. Proc. 82 -26 under terms and conditions sufficient to provide <br />net proceeds available for deposit to the Construction Fund in the amount of <br />$7,500,000.00, after reduction for any deposit required to be made to any debt <br />service reserve fund required for the Building Bonds and for payment of issuance <br />expenses related to the Building Bonds, including underwriter's discount, any <br />premium for bond insurance and all other costs related to the issuance of the <br />Building Bonds. Such other costs related to the issuance of the Building Bonds <br />shall include but not be limited to survey costs and premium for title insurance. If <br />Heartland is unable to satisfy such conditions, Heartland shall have the option to <br />rescind this Agreement and this Agreement shall be of no further force and <br />effect." <br />Section IV. Design of Project. Paragraph 4. of the Lease Purchase Agreement is hereby <br />amended to read as follows: <br />"4. DESIGN OF PROJECT. The Project shall be initially known as <br />The Heartland Events Center (but may be renamed by Heartland; it being the <br />intent of the City and Heartland that the Project may be renamed, if permitted <br />under the provisions of Rev. Proc. 82 -26, in connection with a grant agreement or <br />agreements for a charitable contribution or contributions for the Project entered <br />into by Heartland). Heartland shall provide for the planning and design of the <br />Project and shall contract for the construction of the Project as provided in the <br />Contract. Heartland shall be responsible for administration and oversight of <br />engineers, architects and contractors and performance of their respective <br />contracts, including the Construction Contract, relating to the Project. <br />Heartland shall provide or shall cause to be provided to the City a <br />permanent contractual right or easement for access to the Site, consistent with the <br />nature and anticipated use of the Project, and for use of an area within the existing <br />grounds owned by Fonner Park and adjacent to the Site for parking rights for the <br />general public for events at the Project for parking without charge or at charges to <br />be agreed to by the City and Heartland from time to time; provided, however, <br />such parking for events at the Project shall be subject to reasonable restrictions of <br />Fonner Park to accommodate patrons of Fonner Park during the race meet or <br />Z <br />