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2000-266H
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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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• <br />40 <br />Elf <br />Training Franclti5e Facility. The County shall pay for the Improvements, but its obligation shall be <br />limited to providing Seven Million Dollars ($7,000,000) of net Bond proceeds, together with any <br />j portion of the Capital Reserve Account determined by the County and the Dodgers to be needed for <br />such purpose. The Improvements shall be commenced and completed in accordance with the <br />Development Agreement, The Dodgers shall (a) pay any additional costs of the Improvements beyond <br />I such $7,000,000 and the funds in the Capital Reserve Account, and (b) be solely responsible for the <br />costs of any additional improvements voluntarily undertaken by the Dodgers at the Facility. Subject <br />l to the foregoing conditions, the Dodgers, with the assistance of the County as provided in the <br />h Development Agreement, shall cause the construction of the Improvements to be completed by <br />February 15, 2002, or such later date as may be determined by the Dodgers with approval of the <br />I County, which approval shall not be unreasonably withheld. <br />ARTICLE IX <br />d DOCLYMENTS AND CERTIFICATES <br />Section 9.01. Doctame, and Cerkif ac tes. Each party shall supply to the other such <br />documents and certificates as are reasonably available or procurable, and necessary for the purpose <br />of obtaining certificates from the State of Florida Office of Tourism, for the issuance of the Bonds, <br />or for any other purpose reasonably related to the obligations of the parties hereunder, including, but <br />not limited to, the County's funding or administration of this Agreement and ownership of the <br />Facility, or to consummate the transactions described in this Agreement. <br />DEFAULT/REN EDIES <br />Section 10.0 1, D fault. The occurrence of any one or more of the following events <br />constitutes a "Default" by the Dodgers under this Agreement! <br />(a) Failure by the Dodgers to observe or perform in any material respect any <br />covenant, agreement, condition, or provision of this Agreement, if such failure continues for <br />thirty (30) days after written notice thereof has been delivered by the County to the Dodgers; <br />provided, however, that the Dodgers shall not be in Default with respect to matters which <br />cannot reasonably be cured within thirty (30) days so long as within such thirty (30) day <br />period, the Dodgers commence such cure and diligently proceed to complete the same <br />thereafter; <br />(b) The levy upon, under execution or the attachment by legal process, the <br />Dodgers' interest hereunder, or the filing or creation of a lien in respect of such interest, <br />which levy, attachment, or lien is not released, discharged or bonded against within one <br />hundred eighty (190) days from the date of such filing; <br />Page 15 of 27 <br />
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