Reso 2010-1619 - Laserfiche WebLink

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~ I 3. P A Yl\1ENTS TO THE CITY. Contractor agrees to pay the City a flat rate of $450.00 (four hundred and fifty dollars) per month in addition to a 20% (twenty percent) of all gross earnings generated from Contractor organized camps at Town Center Park. Finally, the Contractor shall be required to obtain a special event permit, and pay all applicable special event permit fees, for any special event that is held outside of the regular skateboard park operations at Town Center Park. The special event permit fees may be waived by the City Manager or his designee for special events that are to benefit a non-profit organization. Gross earnings shall not include any sales or excise taxes imposed by any governmental entity. Payment to the City shall be sent to the City no later than the tenth (10th) day of each month. Payments received from the tenth (10th) of each month to the twenty fifth (25th) of each month shall be considered delinquent and shall be assessed a ten percent (10%) penalty. Payments received after the twenty fifth (25th) of each month shall be assessed an additional ten percent (10%) penalty. Failure by the Contractor to tender payment to the City within thirty (30) days of any payment due date shall be sufficient cause for the City to terminate this Agreement. 4. SECURITY DEPOSIT. Contractor shall deposit and maintain with City upon the Effective Date of this agreement a sum equivalent to one (1) month of the flat rate payment of $450.00. The Contractor shall be required to pay this $450.00 security deposit, together with the first month's flat rate payment of $450.00, for a total initial payment of $900.00 (nine hundred dollars) to the City at least seven (7) calendar days prior to the skateboard park being opened to the public. The Security Deposit shall be'held by City and may be applied against any unpaid fees, rates, charges or any other amount due and owing to City under this Agreement. If City makes such deduction, Contractor shall restore the Security Deposit to the full amount required by City within thirty (30) days of a written demand by City Manager or his designee. A failure by Contractor to do so shall constitute a default pursuant to this Agreement Any amounts remaining from the Security Deposit (after deductions for delinquent or unpaid fees, costs or charges as specified above) at the expiration or earlier termination of this Agreement shall be returned to Contractor after a determination by the City Manager or his designee that all amounts owed to City under this Agreement have either been paid in full or have been deducted from the Security Deposit. 5. TERM. This Agreement shall be for a term of one year, beginning on the execution of this agreement and ending one year after the date the skateboard park is open to the public, unless terminated sooner pursuant to paragraph 13 of this Agreement. Payments to the City shall not begin to accrue until the skateboard park is open to the public. This term may be extended for an additional one year term at the sole option of