Reso 2008-1232 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947-0606 phone (305) 949-3113 Fax (a) The City shall pay to OSS a $30,000.00 (Thirty Thousand Dollar) association fee. (b) The City shall pay to OSS a $50,000.00 (Fifty Thousand Dollar) cash prize fee. OSS shall provide trophies for the first, second and third place teams. The number of trophies may vary depending upon the number of race categories. However, there will be at least six (6) race categories and no more than ten (10) race categories. (c) The prize money and trophies shall be distributed to the winning teams at the awards ceremony in accordance with OSS' methods, procedures and policies or as otherwise determined in the sole discretion of OSS. 5. Television Fees. The City shall pay to OSS a $10,000.00 (Ten Thousand Dollar) television fee. The television fee is included in the total amount of $125,000 paid to OSS. 6. Operational Costs. The City shall pay to OSS $35,000.00 (Thirty Five Thousand Dollars) in operational costs to produce the Race consistent with customary standards of the City, including all rentals, services, safety and security personnel at a level acceptable to the City. The operations costs are included in the total amount of $125,000 paid to OSS. 7. follows: Payment Schedule. The City shall pay the above referenced fees and costs as (a) $10,000.00 deposit due within ten (10) days of execution of this Agreement towards the OSS association fee. (b) $10,000.00 shall be paid by City to OSS on or before May 1,2008. (c) The balance of the association fee of $10,000.00 as well as the $10,000.00 television fee shall be paid by the City to OSS on or before June 1, 2008. (d) The prize purse of $50,000.00 shall be paid by City to OSS on or before June 20, 2008. (e) The $35,000.00 in operational costs shall be paid by City to OSS as follows: $17,500.00 shall be paid by City to OSS on or before May 21, 2008, and the remaining $17,500.00 shall be paid on or before June 30, 2008. 8. Coast Guard Permits and Other Necessary Governmental Permits and/or Approvals. The City shall (a) work with OSS Director of Race Control to make prompt application to the Coast Guard and any other necessary governmental agencies to obtain permits and other approvals required for racing on Saturday, June 21, 2008, through Sunday, June 22, 2008 from 9:00 a.m. to 5 :00 p.m. on both dates, or as otherwise agreed to in writing by the OSS, (b) furnish accurate and complete information regarding the Race, as required, (c) pursue such application(s) with diligence, (d) cooperate in good faith with the Coast Guard and any other necessary governmental agencies to obtain such permits and approval(s) and (e) promptly give notice to OSS in the event that any information regarding the Race is required to be submitted C0708-028 ass Powerboat Racing Agreement 3 ~{