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200412247
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200412247
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Last modified
10/17/2011 12:26:38 AM
Creation date
10/21/2005 6:47:15 AM
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DEEDS
Inst Number
200412247
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20041224'7 <br />other similar activities of Fonner Park involving a large number of patrons, all as <br />provided for in the Parking Rights and Access Agreement. The permanent <br />contractual right or easement as provided for in the Parking Rights and Access <br />Agreement is not being paid for or financed with the proceeds of the Building <br />Bonds and shall not constitute a part of the Project but shall constitute an interest <br />in real estate that shall run with the title to the Project and for the benefit of the <br />Proj ect. <br />Section V. Construction and Acquisition of Project by Heartland. The City <br />hereby approves Heartland's entering into the Construction Contract and hereby further approves <br />the Plans and Specifications, the Payment Bond and the Performance Bond being provided by <br />the Contractor. Paragraph 6. of the Lease Purchase Agreement is hereby amended to read as <br />follows: <br />6. CONSTRUCTION AND ACQUISITION OF PROJECT BY <br />HEARTLAND. Heartland agrees to provide for the planning, design, <br />construction and acquisition of the Project. The Project shall be constructed in <br />accordance with the Plans and Specifications and the Construction Contract. <br />Heartland shall supervise construction of the Project on behalf of the City. <br />Heartland shall make payment for costs of the Project from the funds in the <br />Construction Fund held by the Trustee, which fund shall contain only the <br />proceeds from the sale of the Building Bonds issued by Heartland, investment <br />earnings on such funds while invested in the Construction Fund, funds from Other <br />Funding Sources as deposited by Heartland and investment earnings on such <br />funds from Other Funding Sources. On or before the issuance of the Building <br />Bonds, Heartland shall have deposited from Other Funding Sources into the <br />Construction Fund not less than $12,956,100, which amount may be in the form <br />of contributed cash, credit for payments made against the Guaranteed Maximum <br />Price or amounts drawable under a letter of credit satisfactory to the City. It is the <br />intent and understanding of Heartland and the City that the deposit of the net <br />principal proceeds of the Building Bonds, the deposit by Heartland from Other <br />Funding Sources and investment earnings estimated at $43,900 will be sufficient <br />to pay in full costs of construction of the Project. If for any reason such amounts <br />shall not be sufficient to pay the costs of the Project as described in the terms of <br />the Construction Contract, the City shall make any required payments to suppliers <br />and contractors in excess of such funds in the Construction Fund, as additional <br />rent. No change orders to the Construction Contract shall be made without <br />approval of the City if the effect of such change order is to increase the <br />Guaranteed Maximum Price. The amount drawable under any letter of credit may <br />be reduced by Heartland, after the issuance of the Building Bonds, upon <br />compliance with the conditions set forth in Section 6.01 of Article VI of the <br />Indenture. <br />Heartland, acting pursuant to the Management Contract, shall take bids in <br />the discretion of Heartland for acquisition of such equipment or other property as <br />7 <br />
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