201106937 - Laserfiche WebLink

Browse

24�106937 200�122�� Ta pay all zxpenses for utility services and operational expenses for the Projecc on a timely �asis excluding property taxes and assessments �vhich shall be paid by the Citv. h. To ensure that the Project, its administrator, supervisors and stat�:ind all users of che Project coruorm to all valid statutes, laws, ordinances, regularions, rules, orders, juds�ments and requirements of all federal, state, local and other govern- mental authoriries, now ar hereafter applicable to the Project. T� provide the City and Trustee an annual accounting of aIl receipts and expendi- tures of che Project, from whatever source derived within si.rry (60) days follow- ing the close of the hscal year for Heartland. �t the request of the City, the accountin� shall include a balance sheet and a profit and loss statement prepazed to government accounring standards and audited by a mutuaily a�eeable certified public accounting tirm with an office in rhe state of Nebraska; provided, however, tha.t the cost uf such accoundng and audit shall be paid by the City. m. To negotiate and administer such licensing, catering and concession contracts and naming, pourin; and signage ri;ht contracts as Heartiand deems appropriate; pro- vided, however, that such contracts shall comply with the requirements of Rev. Proc. 82-26. n. Tu make such alterations, additions and improvements to the Project requested by the City; provided, however, that the Ciry shall pay for the costs of such altera tions, additions and improvements. The management contract shall provide that Heartland may terminate the management contract upon une hundred twenty (12Q) days' notice ta the City. The Ciry and Heartland eaeh expect that the Project will pravide substanrial sacial, cul- tural, recreational and ecanomic benefits to the citizens of the City but that the Project will at best operate on a break-aven basis �ven after receipt by Heartland of the proceeds of any appli- cable city occupation tax impased by the City under Neb. Rev. Stat. § I6-205. it is a�eed between rhe City and Heartland that any net rev�nue from the operation of the Pro�ect shall belang to Fieartland as its separate pro�erty under any mana.qement contract with. Heartland and shali nat inure to or be paid to the City under any circumstances during the term of this A�ree- ment. 3. TITLE TO PROJECT. L`ntil all payments of basic rent provided for in this �greement have been paid in full, title to the Project shall remain in Heartland or its assigns or successors, subject to the beneticial ownership of the City resultin� from the installment pur- chase of the Project provided for in chis agreement. If upon termination uf this a�eement all payments of basic rent due &om the City have not been fully paid or provided for, Heartland shall have the ri�ht to retain ownership of the Project or any part thereaf Lvithout further obli;a- tion of any nature to the ity escept as provided herein. ��