Laserfiche WebLink
DRAFT 'A <br />MUNICIPAL CROSSING COST REDUCTION AGREEMENT <br />This Municipal Crossing Cost Reduction Agreement (the "Agreement") is made and <br />entered into as of [Date] (the "Effective Date"), by and between [City/Town], a Florida municipal <br />corporation ("Municipality"), and Brightline Trains LLC ("Brightline") (together, the "Parties"). <br />RECITALS <br />WHEREAS, Municipality is a Florida municipal corporation governed by a [City / Town <br />Council] (the "Municipal Council"); <br />WHEREAS, Municipality is located in [Martin / Indian River] County, a political <br />subdivision of the State of Florida; <br />WHEREAS, Brightline is a corporate entity tasked with developing and operating <br />express passenger rail service between Miami and Orlando, Florida (the "Brightline Project"); <br />WHEREAS, the bulk of Brightline's planned passenger service route, including the <br />portion which will pass through [Martin / Indian River] County, will use the Florida East Coast <br />Railway LLC ("FECR") railroad right-of-way (the "FECR ROW"); <br />WHEREAS, Municipality has independent roadway crossing agreements with FECR, <br />which are listed in Exhibit _ (the "Existing Municipal Crossing Agreements"); <br />WHEREAS, to accommodate Brightline's express passenger service, Brightline is <br />upgrading the portion of the FECR ROW between Miami and Cocoa by, inter alfa, upgrading <br />existing railroad ties and tracks, installing a second set of mainline tracks, improving roadway <br />crossings, and installing and activating Positive Train Control systems; <br />WHEREAS, [Martin / Indian River] County and others recently entered into a <br />Settlement Agreement with Brightline (the "Settlement Agreement") which included as a <br />condition that Municipality be offered the opportunity to enter into this Agreement; and <br />WHEREAS, Municipality desires to obtain the benefits of this Agreement, on the terms <br />and conditions set forth herein. <br />NOW, THEREFORE, in consideration of the mutual covenants and agreements herein, <br />and other good and valuable consideration the receipt and the sufficiency of which are <br />acknowledged, the Parties hereby agree as follows: <br />1. Incorporation of Definitions and Recitals. The defmitions and recitals above are <br />incorporated herein by reference and made a substantive part of this Agreement. <br />2. Municipality Roadway Crossing Maintenance. <br />Municipality shall execute amendments to the Existing Municipal Crossing Agreements, <br />in the form attached as Exhibit _. The amendments shall not alter Municipality's rights or <br />obligations as to FECR, except that for a period of 14 years from the date Brightline begins <br />passenger revenue operations from West Palm Beach to Orlando, Municipality and Brightline <br />