Res 1996-076 - Laserfiche WebLink

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. (38 -3- - 9. TERMINATION (a) The Association reserves the right to terminate this lease at any time upon six months advance written notice to the City. (b) The City agrees to use its best efforts and to examine all reasonable alternatives to avoid any need to terminate this lease, except through default by the Association, during its initial term or any extension thereof. However, the City reserves the right to terminate this lease at any time upon 18 months advance written notice to the Association. Upon any termination of this lease by the City, except through default by the Association, which requires the Association to relocate its activities to a site other than the Complex, the City agrees to reimburse the Association for any structures and improvements constructed by the Association which cannot reasonably be relocated to the new site. The amount of reimbursement shall be a percentage of the appraised value of the structures and improvements at time of relocation, according to the following schedule: Time of Termination Percentaqe of Appraised Value During first 5-year term 75% During second 5-year term 50% . During third 5-year term 0% (No reimbursement) Property will be appraised by three (3) independent appraisers approved by the City and Association. The mid-value appraisal estimate will be the accepted appraised value. (c) Upon any termination of this lease other than through default by the Association, the City agrees to permit the Association to remove any equipment or structures from the Complex which may be reused or relocated at a different site and the City also agrees to consider any request by the Association for a use agreement or lease of alternate City property under terms similar to those in this lease. (d) Should the Association default in performing any of its responsibilities, the City shall give the Association notice in writing of such default, and if Association shall fail or refuse to cure the default within sixty (60) days after service of the notice, the City may terminate and cancel this lease. 10. CONCESSIONS The Association may operate a concession service for the sale of food, drinks and souvenirs in the Concession Building. Alcoholic beverages shall not be sold at the Concession Building. All profits from the concession shall be used for the operation of the Association's program and the construction and maintenance of the Complex, and for no other purpose.