Reso 2008-1246 - Laserfiche WebLink

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the garage in accordance with the terms herein, the City shall have the right to relocate the Association's parking spaces upon providing sixty (60) days notice to the Association of the City's intent to relocate. However, the City shall not have the right to relocate the Association's parking spaces any further from the Association than the area under the William Lehman Causeway. Said relocation shall end the sooner of eighteen months (18) from its commencement or the completion of the garage which ever comes first. 3. Term: The terms of this Amendment to the Parking Agreement are effective immediately, and the term shall be forty (40) years from the date of the Garage opening defmed as to when the Association is permitted to begin using the parking spaces in accordance with this Agreement. The parties may agree to an extension of this 40 year term upon thirty (30) days notice. After the forty (40) year term, if no subsequent amendment to the Parking Agreement is negotiated, the parties shall be governed by the original Parking Agreement. 4. Maintenance Responsibilities and Costs: Except as provided below, the City shall be responsible during the term of this First Amendment for all costs and expenses of maintaining, cleaning and keeping the Parking Garage in a first class manner, and in good order, condition and repair, including but not limited to, utilities, foundation, exterior and structural walls and roof. Moreover, and without limitation, any and all costs and expenses of any capital improvements and mo~ifications or replacements which become desirable, necessary or required shall be at the City's sole determination, costs, and expense. Further, the City hereby represents and warrants that the Parking Garage will comply and continue to comply throughout the term with all applicable laws. In accordance with this First Amendment, the Association shall continue to pay to the City, its successor or assigns, $135,000.00 (one hundred and thirty five thousand dollars) per year until the date that the City begins permitting the Association to use the Garage as set forth herein. Once the Association is permitted to use the Garage, as set forth herein, the Association shall pay to the City a fixed monetary amount for each one of the 400 (four hundred) parking spaces per month, based on the following tiered approach. a. Years 1 - 5 $65.00 (sixty five dollars) per space per month b. Years 6 - 10 $80.00 (eighty dollars) per space per month c. Years 11 - 15 $95.00 (ninety five dollars) per space per month d. Years 16 - 20 $110.00 (one hundred and ten dollars) per space per month e. Years 21 - 25 $125.00 (one hundred and twenty five dollars) per space per month f. Years 26 - 30 $140.00 (one hundred and forty dollars) per space per month g. Years 31 - 35 $155.00 (one hundred and fifty five dollars) per space per month h. Years 36-40 $170,00 (one hundred and seventy dollars) per space per month First Amendment to Parking Agreement