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201106937
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201106937
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Last modified
10/9/2011 10:52:19 PM
Creation date
9/20/2011 8:40:44 AM
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DEEDS
Inst Number
201106937
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201106937 <br />2�44122�7 <br />other similaz activities of Fonner Pazk 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 praceeds of the Btulding <br />Bonds and shall nat 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 />Project. <br />Section V. Construction and Acauisition of Proiect bv He�rtland. The City <br />hereby approves Heartland's entering 'vnto 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 acquisi�ion of the Project. The Project sha11 l� constructed in <br />accordance with the Plans and Specifications and the Constivction Contract. <br />Heartland sha11 supervise constiuction of the Project on behalf of the City. <br />Heartiand shall make payment for costs of the Project fram the funds in the <br />Construction Fund held by t�e 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 Consiruction Fund, funds from Other <br />Funding Sources as degosited 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 $12,956,1Op, 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 suf�icient <br />to pay in full costs of conshuction 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 Conshuction Contract, the City shall make any required payments to suppliers <br />and contractors in excess of such funds in the Construcrion Fund, as additional <br />rent. No change orders to the Constracrion Contract sha11 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 ma.y <br />be reduced by Heartland, after the issuance of the Building Bonds, upon <br />compliance with the conc�itions 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 properiy as <br />� <br />
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