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09-071.06 Splash-Down: Lease Repayment Agreement 2 oq- 071.0e. * 71oio aT owe.0011; ; Valley OFFICE OF THE CITY ATTORNEY CARY P.DRISKELL—CITY ATTORNEY ERIK J.LAMB—DEPUTY CITY ATTORNEY 11707 East Sprague Avenue Suite 103 ♦ Spokane Valley WA 99206 509.720.5105 ♦ Fax: 509.688.0299 • cityattorney@spokanevalley.org REPAYMENT AGREEMENT WITH SPLASH-DOWN CONCESSIONS, INC. REGARDING UNPAID LEASE AMOUNT FROM SEPTEMBER 5, 2016 The City of Spokane Valley entered into a lease agreement with Splash-Down Concessions, Inc. (Splash-Down) on May 19, 2009 for use of certain park property located at Mission Park. The parties executed an amendment in 2012 to reduce the yearly lease payment amount (the 2012 Amendment), and executed a second amendment in 2014 to amend the minimum liability insurance amount(the 2014 Amendment). The 2012 contract amendment required Splash-Down to pay $25,000 in lease payments to the City for 2016. Splash-Down is also required by law to pay a leasehold excise tax on that amount of$3,210, for a total of 28,210. In addition, Splash-Down has an arrearage for unpaid excise tax from past years, to be paid at the annual rate of$5,519.28. The total owed for 2016 for the lease payment,current leasehold excise tax, and past due leasehold excise tax was $33,829.28. Of the total 2016 lease payment due, Splash-Down paid$22,552.85 in two payments, on or about July 5 and August 5, 2016. No payment was made on or about September 5, 2016-when it was due and owing, leaving an unpaid balance for 2016 of 11,276.43. The total 2017 lease payment, current year leasehold excise tax, and past due leasehold excise tax is $33,829.29, which will be paid in three equal installments on or about July 5, August 5, and September 5,2017. Splash-Down shall pay the 2016 unpaid balance in the amount of$11,276.43 by making three equal payments in the amount of $3,758.81 on July 20, August 18, and September 15, 2017. Splash-Down may repay the arrearage at a more accelerated rate. The City elects to not collect interest on the arrearage so long as it is paid in compliance with the terms of this Repayment Agreement. In the event Splash-Down fails to comply with the terms of this Repayment Agreement, all of the interest that could otherwise be charged from the date of execution of this Repayment Agreement at an annual rate of 12% shall immediately become due and owing along with the entire remaining leasehold excise tax arrearage. Dated: ti - /7 Dated: (0/(5fri— .r '.� e� o:g, (0)icer) Mark ,.alhoun, City Manager elis el�Of I er) DATE(MM/DD/YY) CERTIFICATE OF INSURANCE 06/09/2017 PRODUCER AND THE NAMED INSURED THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND International Special Events and Recreation Association,Inc.Inc.,A Risk Retention CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS Purchasing Group qualified under the Risk Retention Act of 1986;Federal Law 97- CERTIFICATE OF INSURANCE DOES NOT AFFIRMATIVELY OR 45. NEGATIVELY AMEND,EXTEND,OR ALTER THE COVERAGE AFFORDED P.O.Box 469 Sandy,UT 84091-0469 BY THE INSURANCE POLICIES BELOW. 800-321-1493 INSURERS AFFORDING COVERAGE INSURED INSURER A: NOTICE:Coverage is being provided as part of a Master Group Splash Down Concession INSURER B: Policy issued to members of the International Special Events and INSURER C: Recreation Association,Inc. ,a Risk Retention'Purchasing Group'authorized under the Risk INSURER 0: Retention Act of 1986:Federal Law 97-45. 11127 E Mission Ave NCI IRFR F• Spokane, WA 99206 "LIMITS SHOWN ARE THOSE IN Certain Underwriters at Lloyds,London EFFECT AS OF POLICY INCEPTION" COVERAGES The policies of insurance listed below have been issued to the insured named above for the policy indicated. Notwithstanding any requirement,term or condition of any contract or other document with respect to which this certificate may be issued or may pertain,the Insurance afforded by the policies described herein is subject to all the terms,exclusions and conditions of such policies.Aggregate limits shown may have been reduced by paid claims. POUCY EFFECTIVE POUCY EXPIRATION TYPE OF INSURANCE POLICY NUMBER DATE(MM/DDM!) DATE(MM/DD/YY) UMITB © Commercial Liability LAP0374-17060031 6/9/2017 6/9/2018 $100,000 Per Person © Claims Made $1,000,000 Per Accident $2,000,000 Policy Aggregate © Exclude Products • Exclude Completed Operations ❑ Commercial Auto Liability Any Auto All Owned Autos Scheduled Autos Hired Autos Non-Owned Autos Drive Away ❑ Commercial Garage Liability G.K.L.L. O.T.R.P.D. D.O.C. Cargo On Hook Employee Dishonesty Wrongful Repossession Claims Made Exclude Products Exclude Completed Operations ❑ j;'xcess Liability ❑ Claims Made OTHER DESCRIPTION OF OPERATION/LOCATIONSNEHICLES/EXCLUSIONS ADDED BY ENDORSEMENT/SPECIAL PROVISION Coverage is limited to only insured activities or operations on the Participant Member Declaration Certificate or as may be separately endorsed.Waterparks-Admissions,Main Gate-Receipts,Waterparks-Slides-Each.,Premises Liability-Scheduled Locations Only.,Snack Bar-Food Concession-Products Liability-Food Only.,Waterparks-Pools- Each. Lid I CERTIFICATE HOLDER (U I ADDITIONAL INSURED U LOSS PAYEE FOR PROOF OF INSURANCE ONLY SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,THE ISSUING INSURER WILL ENDEAVOR TO MAIL 0 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT,BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER,ITS AGENTS OR REPRESENTATIVES. AUTHORIZED REPRESENTATNOF THENOUP' 'ISERA-F-014 030CT2005 {i1 SPLASH DOWN CONCESSIONS INC https://secure.lni.wa.gov/verify/Details/liabilityCertificate.aspx?UBI... �+�y /y�n t ,�{y�w�/y� STA OF WAST NGION Department of Labor & Industries Certificate of Workers' Compensation Coverage June 14, 2017 WA UBI No. =600 453 659 L&I Account ID l 452,312-00 Legal Business Name SPLASH DOWN CONCESSIONS INC Doing Business As `SPLASH DOWN CONCESSIONS INC Workers'Comp Premium Status: Account is current. Estimated Workers Reported Quarter 1 of Year 2017"0"Workers (See Description Below) Account Representative Employer Services Help Line, (360) 902-4817 Licensed Contractor? No What does "Estimated Workers Reported" mean? Estimated workers reported represents the number of full time position requiring at least 480 hours of work per calendar quarter. A single 480 hour position may be filled by one person, or several part time workers. Industrial Insurance Information Employers report and pay premiums each quarter based on hours of employee work already performed, and are liable for premiums found later to be due. Industrial insurance accounts have no policy periods, cancellation dates, limitations of coverage or waiver of subrogation (See RCW 51.12.050 and 51.16.190). 1 of 1 6/14/17,2:50 PM