Loading...
12-075.00 Splash-Down ConcessionsOFFICE OF THE CITY ATTORNEY Siiokane KELLY E. KO CARY P. DRISKELL —CITY ATTORNEY NKRIGHT — DEPUTY CITY ATTORNEY ,,,;00PVa11ey 11707 East Sprague Avenue Suite 103 ♦Spokane Valley WA 99206 509.720.5105 ♦ Fax: 509.688.0299 ♦ cityattorney@spokanevalley.org 2012 AMENDMENT TO THE SPLASH -DOWN CONCESSIONS, INC. AGREEMENT EXECUTED MAY 19, 2009 The City of Spokane Valley entered into a lease agreement with Splash -Down Concessions, Inc. (the 2009 Agreement) on May 19, 2009 for use of certain park property located at Mission Park. The parties have agreed to changes in the 2009 Agreement, which shall be referred to as the 2012 Amendment to the Splash -Down Concessions, Inc. Agreement (the 2012 Amendment) consisting of the following: A. Section 5. Fee. The annual lease payment for 2012 is $20,000, which shall be paid in three equal payments of $6,666.67 due on July 5, August 5 and September 5, 2012. Failure to do so will result in immediate termination of the Agreement pursuant to Section 8. Additionally, Splash -Down shall pay $8,166.84 of the arrearage from 2011 ($16,333.67) no later than 4:00 p.m. on Friday, November 30, 2012. Failure to do so will result in immediate termination of the Agreement pursuant to Section 8. The annual lease payment for 2013 is $20,000, which shall be paid in three equal payments of $6,666.67 due on July 5, August 5 and September 5, 2013. Failure to do so will result in immediate termination of the Agreement pursuant to Section 8. Additionally, Splash -Down shall pay $8,166.84 of the arrearage from 2011 ($16,333.67) no later than 4:00 p.m. on Friday, November 29, 2013. Failure to do so will result in immediate termination of the Agreement pursuant to Section 8. The City will elect to not collect interest on the arrearage so long as it is paid in compliance with the 2012 Amendment. In the event Splash -Down fails to comply with the terms of this 2012 Amendment, all of the interest that could otherwise be charged from the date of execution of this 2012 Amendment at an annual rate of 12% shall immediately become due and owing along with the entire remaining 2011 arrearage. The annual lease payment for 2014 through 2018 will be $25,000. B. Section 8. Termination. By City: The City has the right to immediate termination of the 2009 Agreement, including the 2012 Amendment, for non - compliance with the revised annual lease and arrearage payment requirements as set forth in Section A above for 2012 and 2013. Beginning in 2014, the existing termination language is reinstated. C All remaining sections of the 2009 Agreement remain in effect. / Dated:/ Mike Jac o ity Manager C.Diz - ©75