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Page 17 of 29 <br />Section 10.04. Cessation of Use by the Dodgers. If, at any time during the Initial Term <br />(and not a Renewal Term), the Dodgers lose the right to own the Team, or to hold Spring Training <br />Home Games in the Facility, or othenvise cease to conduct their spring training operations and/or <br />Spring Training Home Games at the Facility, such event shall constitute a "Cessation of Use" of the <br />Facility by the Dodgers. Notwithstanding anything to the contrary contained in this Agreement, a <br />Cessation of Use of the Facility by the Dodgers shall entitle the County to terminate this Agreement <br />by giving the Dodgers ten (10) days' written notice of termination. The Dodgers shall have ten (10) <br />days after receipt of the aforementioned notice of termination to renounce the Cessation of Use by <br />confirming to the County their intention to continue to use the Facility during the Initial Term as the <br />spring training facility for the Team. A termination pursuant to the provisions of this Section 10.04 <br />shall become effective upon the expiration of the Dodgers' ten (10) day cure period. <br />Section 10.05_ Liquidated Damage. If this Agreement is terminated by the County during <br />the Initial Term as the result of a Cessation of Use by the Dodgers, then the Dodgers shall pay to the <br />County, as "Liquidated Damages" and in lieu of all other remedies and/or damages of any type which <br />may be available to the County, the entire amount required by the County to defease or retire the <br />Bonds, together with any fees, expenses and costs incurred by the County to so defease or retire the <br />Bonds. <br />Section 10.05. Repurchase By_Dodger s. If the Dodgers are required to pay the Liquidated <br />Damages specified in 10.05, above, the Dodgers shall be entitled to repurchase the Facility (including <br />the Land) from the County at a price equal to the Facility's then fait market value, less the amount <br />of any Liquidated Damages paid by the Dodgers to the County hereunder. The then fair riiarket value <br />of the Facility shall be calculated in accordance with the provisions set forth in Section 10.07, below. <br />Section 10.07. Calculation of Fair -Mark -et Value. For purposes of a repurchase of the Facility <br />by the Dodgers pursuant to this Agreement, the then fair market value of the Facility shall be <br />determined by the following procedure: <br />(a) The Dodgers and the County shall each select an independent M.A.I. <br />appraiser. <br />(b) The appraisers selec--ted by the Dodgers and the County shall then select a third <br />appraiser known as the "Independent appraiser The Independent Appraiser shall determine <br />the then fair market value of the Facility using the highest and best use method. <br />0 <br />eV <br />G'1 <br />-zz <br />O <br />CJ7 <br />m <br />W <br />Nee 17 of 27 <br />https:Hori.indian-river.org///DocumentIGetDocumentForPrintPNG/?request=AQAAANC... 5/25/2021 <br />