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2000-266H
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Last modified
7/18/2024 3:41:42 PM
Creation date
7/18/2024 3:15:25 PM
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/07/2000
Control Number
2000-266H
Agenda Item Number
10.B.7.
Entity Name
Los Angeles Dodgers, Inc.
Subject
Application for Certification of retained Spring Training Franchise to
Florida Office of Tourism, Trade & Economic Development
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I <br />To the extent the Dodgers elect to obtain reimbursement for the costs of any repair or <br />replacement from the Capital Reserve Account rather than with funds provided by the Dodgers, the <br />' • County agrees to approve such Requisition so long as (i) the payee thereunder is a third party <br />i provider of goods or service, and (ii) the repair or replacement constitutes a capital expenditure, and <br />the County shall consider approval of any other Requisition for the cost of a repair or replacement, <br />{ each upon delivery of the back-up material required to be submitted with all Requisitions for costs <br />of a repair or replacement. <br />5. Assigament. The parties hereto acknowledge that no party may assign its rights <br />hereunder without the prior written consent of the other parties hereto, and that, upon such <br />assignment, the assigning party's assignee will succeed to all of the assigning party's rights under this <br />Capital Reserve Account Agreement. <br />6. Fees o .apital Reserve Account Agen - [n consideration of its services as Capital <br />Reserve Account Agent hereunder, the Capital Reserve Account Agent shall be entitled to fees and <br />expenses agreed upon by the Capital Reserve Account Agent, the County and the Rodgers, as set <br />forth in Exhibit D hereto, and the fees of the Capital Reserve Account Agent will be paid in advance <br />from funds on deposit in the Capital Reserve Account in accordance with such fee schedule. If for <br />any reason funds in the Capital Reserve Account are insufficient to cover such compensation and <br />reimbursement, the Dodgers shall promptly pay such amounts to the Capital. Reserve Account Agent <br />upon receipt of an itemized invoice. <br />7. Int�ieader. In case any dispute shall arise between or among the County and the <br />Dodgers as to tate disposition of funds deposited under this Capital Reserve Account Agreement, the <br />Capital Reserve Account Agent shall have the right, but shall not be obligated, to bring an action in <br />a court of competent jurisdiction located in Indian River County, Florida, to interplead the parties <br />hereto and any other persons to resolve such dispute. Any costs or expenses incurred in connection <br />with any such action, including but not limited to any expenses and reasonable attorney fees incurred <br />by the Capital Reserve Account Agent, shall be paid by the unsuccessful party in the dispute. <br />8 <br />(a) This Capital Reserve Account Agreement shall be construed in accordance with, and <br />governed by the laws of, the State of Florida. <br />(b) The Capital Reserve Account Agent, as a part of the consideration for the acceptance <br />of this Capital Reserve Account Agreement, shall not be liable for any acts or omissions done in good <br />faith, nor for any claims, demands or losses, nor for any damages made or suffered by any party to <br />this Capital Reserve Account Agreement, excepting such as may arise through or be caused by its <br />willful misconduct or gross negligence. Any obligations of the County and/or the Dodgers under this <br />Capital Reserve Account Agreement to the Capital Reserve Account Agent shall survive any <br />termination of this Capital Reserve Account Agreement and the resignation or removal of Capital <br />Reserve Account Agent. <br />3 <br />i <br />t. <br />
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