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THREE YEAR MANAGEMENT AGREEMENT AND IRS DETERMINATION LETTER CLEARWATER COMMUNITY SAILING CENTER MANAGEMENT AGREEMENT ~ THIS MANAGEMENT AGREEMENT, entered into this ..ll.- day of 2002 by the City of Clearwater, Florida, as City, and Clearwater Co Association, Inc., as Manager. WHEREAS, City owns the real property and improvements consisting of approximately 3,658 square feet and located in Pinellas County, Florida, having an address of 1001 Gulf Boulevard, CLEARWATER FL 33767, and more particularly described in Exhibit A, attached and incorporated as a part of this agreement. Such property shall hereinafter be referred to as the "premises." WHEREAS, Manager agrees to manage the Clearwater Community Sailing Center under the terms and conditions described in this management agreement. 1. MANAGEMENT TERM. The term of this agreement shall be for three (3) years; which term will commence on the 1 st day of October 2002, and shall continue until midnight on the 30th day of September 2005 (herein called the "initial term"). The manager shall have two (2) successive options to extend the term of this agreement for successive periods of three (3) years each (if more than one option period is granted, each such period is included in the term "extended term" as used herein). No such renewal or extension shall be deemed a waiver by City of any breach or default, which may then exist. Each extended term shall be upon the same conditions and terms, and the rent shall be determined and payable, as provided in this agreement, except that there shall be no privilege to extend the term beyond the expiration of the extended term period as herein above specified. The manager shall exercise the option for an extended term by notifying the City in writing at least one (1) calendar month prior to the expiration of the then current term. City shall have until the end of each term to review manager's performance and may deny renewal if manager is in default of any provision of this agreement. Failure to exercise the option for any period shall nullify the option for all subsequent periods. 2. RENT (a) Base rent: Manager agrees to pay the City as rent during the initial term of this agreement the sum of Twelve Thousand Dollars ($12,000) annually, payable in equal monthly installments of One Thousand Dollars ($1,000) per month, the first such installment being payable upon the execution of this agreement, and the balance of such Clearwater Community Sailing Center Management Agreement 1 installments being payable in advance at the beginning of each successive monthly rental period thereafter. In addition, manager shall pay sales tax on all taxable collected payments. For each successive extension hereunder, the annual rent shall be increased by a sum equal to 5% of the annual rent for the immediately preceding agreement term and such annual rent shall be payable in equal monthly installments. Manager shall pay rent and any additional rent as hereinafter provided to City at such place as City may designate in writing, without demand and without counterclaim, deduction or setoff. (b) Percentage rent: Starting the second month of the second assignment year, and continuing for the duration of the assignment and each extension thereof, the manager agrees to pay and City agrees to accept as additional monthly percentage rent an amount equal to twenty percent (20%) of the prior month's gross revenues less taxes collected, said payment due on or before the 10th day of the month. 3. SECURITY DEPOSIT. Manager shall deposit with City on the signing of this agreement the sum of One Thousand Dollars ($1,000) as security for the performance of manager's obligations under this agreement, including without limitation the surrender of possession of the premises to City as herein provided. If City applies any part of the deposit to cure any default of manager, manager shall on demand deposit with City the amount so applied so that City shall have the full deposit on hand at all times during the term of this ag reement. 4. LINE OF CREDIT. City agrees to provide to manager a line of credit up to $50,000, which City at its sole discretion may authorize. Such line of credit shall only be used by manager to pay salaries for authorized employees and all payments must be repaid to City by the end of the initial term. 5. USE OF PREMISES. The premises are to be used by manager solely for the purposes and in the manner set forth in the business plan (Exhibit C) attached and incorporated as a part of this agreement, subject to City's reserved right to issue "fishing" permits allowing holders thereof to use specifically identified areas of the managed premises for fishing, subject to reasonable rules and regulations established by manager and approved by City. No other use can be made of the premises during the term without the written consent of the City. Clearwater Community Sailing Center Management Agreement 2 6. UTILITIES. Water, sewer, electric and all other utilities of any kind shall be billed directly to manager and are or shall be individually metered for the subject premises. All deposits for such utilities shall be the sole responsibility of manager. 7. COMMON AREA MAINTENANCE AND TAXES City shall be responsible for the common area maintenance charges assessed by the owner's association against the Property and City shall pay real estate taxes. 8. OBSERVANCE OF LAWS AND ORDINANCES. Manager agrees to observe, comply with and execute promptly at its expense during the term hereof, all laws, rules, requirements, orders, directives, codes, ordinances and regulations of governmental authorities and agencies and of insurance carriers which relate to its use or occupancy of the demised premises. 9. ASSIGNMENT OR SUBAGREEMENT. Manager shall not, without first obtaining the written consent of City, assign, mortgage, pledge, or encumber this agreement, in whole, or in part, or sublet the premises or any part thereof. City expressly covenants that such consent to sublet shall not be unreasonably or arbitrarily refused. This covenant shall be binding on the legal representatives of manager, and on every person to whom manager's interest under this agreement passes by operation of law, but it shall not apply to an assignment or subletting to the parent or subsidiary of a corporate manager or to a transfer of the agreement hold interest occasioned by a consolidation or merger involving such manager. If the premises are sublet or occupied by anyone other than manager, and manager is in default hereunder, or if this management agreement is assigned by the manager, the City may collect rent from the assignee, subtenant, or occupant, and apply the net amount collected to the rent herein reserved. No such collection shall be deemed a waiver of the covenant herein against assignment and subletting, or the acceptance of such assignee, subtenant, or occupant as manager, or a release of manager from further performance of the covenants herein contained. 1 O. ALTERATIONS AND IMPROVEMENTS. (a). City will, at City's expense and as soon as practicable, purchase, complete, install, and/or otherwise provide items listed on Exhibit D (Clearwater Community Sailing Center Project Estimates), attached and incorporated hereunto. Clearwater Community Sailing Center Management Agreement 3 (b). Manager shall not make any structural alterations or modifications or improvements which are part of the managed property without the written consent of the City, and any such modifications or additions to said property shall become the property of the City upon the termination of this agreement or, at City's option, the manager shall restore the managed property at manager's expense to its original condition. The restrictions of this paragraph shall not apply to maintenance of the managed property, but shall apply to any change which changes the architecture or purpose of the property or which changes any of the interior walls of the improvements or which annexes a fixture to any part of the managed property which cannot be removed without damage thereto. In the event manager desires to make any alterations or modifications, written notice shall be given to the City. Unless the City objects to such proposals by notice to manager within twenty (20) days after written notice from manager, the proposal shall be deemed approved. Manager shall have no power or authority to permit mechanics' or material men's liens to be placed upon the managed property in connection with maintenance, alterations or modifications. Manager shall, within fifteen (15) days after notice from City, discharge any mechanic's liens for materials or labor claimed to have been furnished to the premises on manager's behalf. Not later than the last day of the term manager shall, at manager's expense, remove all of manager's personal property and those improvements made by manager which have not become the property of City, including trade fixtures and the like. All property remaining on the premises after the last day of the term of this agreement shall be conclusively deemed abandoned and may be removed by City and manager shall reimburse City for the cost of such removal. 11. RISK OF LOSS. All personal property placed or moved in the premises shall be at the risk of the manager or owner thereof. The City shall not be responsible or liable to the manager for any loss or damage that may be occasioned by or through the acts or omissions of persons occupying adjoining premises or any part of the premises adjacent to or connected with the premises hereby managed or any part of the building which the managed premises are a part of or any loss or damage resulting to the manager or its property from bursting, stopped up or leaking water, gas, sewer or steam pipes unless the same is due to the negligence of the City, its agents, servants or employees. 12. RIGHT OF ENTRY The City, or any of its agents, shall have the right to enter said premises during all reasonable hours, to examine the same to make such repairs, additions or alterations as may be deemed necessary for the safety, comfort, or preservation thereof, or of said building, or to exhibit said premises. The right of entry shall likewise exist for the purpose of removing placards, signs, fixtures, alterations or additions, which do not conform to this agreement. Clearwater Community Sailing Center Management Agreement 4 13. RESTORING PREMISES TO ORIGINAL CONDITION. Manager represents that the premises managed are in good, sanitary and tenantable condition for use by manager. Manager's acceptance or occupancy of the managed premises shall constitute recognition of such condition. Manager hereby accepts the premises in the condition they are in at the beginning of this agreement and agrees to maintain said premises in the same condition, order and repair as they are at the commencement of said term, and to return the premises to their original condition at the expiration of the term, excepting only reasonable wear and tear arising from the use thereof under this agreement. The manager agrees to make good to said City immediately upon demand, any damage to water apparatus, or electric lights or any fixture, appliances or appurtenances of said premises, or of the walls or the building caused by any act or neglect of manager or of any person or persons in the employ or under the control of the manager. 14. INSURANCE. Manager agrees to comply with all terms, provIsions and requirements contained in Exhibit "B" attached hereto and made a part hereof as if said document were fully set forth at length herein. 15. MAINTENANCE. City shall keep the foundation, outer walls, roof and buried conduits of the premises, including existing buildings, piers, docks, and items included on Exhibit D, attached, in good repair, except that the City shall not be called on to make any such repairs occasioned by the negligence of the manager, its agents, express or implied invitees, or employees. City shall maintain the city owned property outside the fence from the sailing center building up to the bridge, while the manager will be responsible for the upkeep of the property within the fenced in area. Manager shall keep the inside of said premises and the interior doors, windows and window frames of said premises in good order, condition and repair and shall also keep the premises in a clean, sanitary and safe condition in accordance with law and in accordance with all directions, rules and regulations of governmental agencies having jurisdiction. The manager shall be responsible for providing all light bulbs used on the premises. The plumbing facilities shall not be used for any other purposes than that for which they are constructed and no foreign substances of any kind shall be thrown therein, and the expense of any breakage, stoppage or damage resulting from the violation of this provision shall be borne by the manager. Routine maintenance of the heating and air conditioning system and plumbing facilities shall be under the control of the manager, and manager agrees that all operation, upkeep, and repairs will be at manager's expense, except where the repairs shall be caused by the negligence or misuse by City or its employees, agents, Clearwater Community Sailing Center Management Agreement 5 invitees, or licensees, .or by catastrophic failure, or in the event of expected life cycle replacement. In the event City pays any monies required to be paid by manager hereunder, City shall demand repayment of same from the manager and the manager shall make payment within ten (10) days of receipt of said demand. Manager's failure to make such repayment within the ten (10) day period shall constitute default under the terms of this agreement. City will assume responsibility for life cycle replacement of the heating/air-conditioning system, provided routine monthly maintenance has been performed. City will assume responsibility for life cycle replacement of the elevator, provided routine monthly maintenance has been performed. 16. DESTRUCTION OF PREMISES. In the event that the building should be totally destroyed by fire, earthquake or other cause, to such an extent that it cannot be rebuilt or repaired within sixty (60) days after the date of such destruction, this management agreement shall be terminated. In the event that the building should be partially damaged by fire, earthquake or other cause, but only to such an extent that it can be rebuilt or repaired within sixty (60) days after the date of such destruction, the management agreement shall be void or voidable, but not terminated, except as otherwise provided herein. If the City intends to rebuild or repair the premises, he shall, within fifteen (15) days after the date of such damage, give written notice to manager of the intention to rebuild or repair and shall proceed with reasonable diligence to restore the building to substantially the same condition in which it was immediately prior to the destruction. However, City shall not be required to rebuild, repair or replace any improvements or alterations made by manager within the building. During the period of rebuilding or repairing, there shall be no diminution of rents. If, after rebuilding or repairing has commenced, such rebuilding or repairing cannot be completed within sixty (60) days after the date of such partial destruction, the City may either terminate the agreement or continue with the agreement with a proportional rent rebate to manager. If City undertakes to rebuild or repair, manager shall, at its own expense, restore all work required to be done by such manager under this agreement. 17. EMINENT DOMAIN. If the whole or any part of the premises hereby managed shall be taken by any public authority under power of eminent domain, then the term of this management agreement shall cease on the part so taken from the date title vests pursuant to such taking, and the rent and any additional rent shall be paid up to that day, and if such portion of the demised premises is so taken as to destroy the usefulness of the premises for the purpose for which the premises were managed, then from that day the manager shall Clearwater Community Sailing Center Management Agreement 6 have the right to either terminate this management agreement or to continue in possession of the remainder of the same under the terms herein provided, except that the rent shall be reduced in proportion to the amount of the premises taken. The parties agree that the manager shall not be entitled to any damages by reason of the taking of this agreement, or be entitled to any part of the award for such taking, or any payment in lieu thereof. 18. SUBORDINATION. This agreement and the rights of the manager hereunder are hereby made subject and subordinate to all bona fide mortgages now or hereafter placed upon the said premises by the City and any other owner provided, however, that such mortgages will not cover the equipment and furniture or furnishings on the premises owned by the manager. The manager further agrees to execute any instrument of subordination, which might be required by mortgagee of the City. 19. DEFAULT; REMEDIES. (a) The manager further covenants that, if default shall be made in the payment of rent, or any additional rent, when due, or if the manager shall violate any of the other covenants of this agreement and fail to correct such default within fifteen (15) days after a written request by the City to do so, then the City may, at its option, deem this agreement terminated, accelerate all rents and future rents called for hereunder and manager shall become a tenant at sufferance, and the City shall be entitled to obtain possession of the premises as provided by law. (b) In case the managed property shall be abandoned, as such term is defined by Florida Statutes, the City, after written notice as provided by Florida Statutes to the manager, City may (i) re-enter the premises as the agent of the manager, either by force or otherwise, without being liable to any prosecution or claim therefore, and may relet the managed property as the agent of the manager and receive the rent therefore and apply the same to the payment of such expenses as City may have incurred in connection with the recovery of possession, reduction, refurbishing or otherwise changing or preparing for reletting, including brokerage and reasonable attorneys fees. Thereafter, it shall be applied to the payment of damages in amounts equal to the rent hereunder and to the cost and expenses of performance of the other covenants of manager as provided herein; or (ii) the City may, at its option, terminate this agreement by giving the manager fifteen (15) days' written notice of such intention served upon the manager or left upon the managed property, and the term hereof shall absolutely expire and terminate immediately upon the expiration of said fifteen (15) day period, but the manager shall Clearwater Community Sailing Center Management Agreement 7 nevertheless and thereafter be liable to the City for any deficiency between. the rent due hereunder for the balance of the term of this agreement and the rent actually received by City from the managed property for the balance of said term. (c) The City, at its option, may terminate this agreement as for a default upon the occurrence of any or all of the following events: an assignment by manager for the benefit of creditors; or the filing of a voluntary or involuntary petition by or against manager under any law for the purpose of adjudicating manager bankrupt; or for reorganization, dissolution, or arrangement on account of or to prevent bankruptcy or insolvency; or the appointment of a receiver of the assets of manager; or the bankruptcy of the manager. Each of the foregoing events shall constitute a default by manager and breach of this agreement. 20. MISCELLANEOUS. (a) The City shall have the unrestricted right of assigning this agreement at any time, and in the event of such assignment, the City shall be relieved of all liabilities hereunder. (b) This contract shall bind the City and its assigns or successors, and the manager and assigns and successors of the manager. (c) It is understood and agreed between the parties hereto that time is of the essence of this contract and this applies to all terms and conditions contained herein. (d) It is understood and agreed between the parties hereto that written notice sent by certified or registered mail, or hand delivered to the premises managed hereunder, shall constitute sufficient notice to the manager, and written notice sent by certified or registered mail or hand delivered to the office of the City shall constitute sufficient notice to the City, to comply with the terms of this contract. (e) The rights of the City under the foregoing shall be cumulative, and failure on the part of the City to exercise promptly any rights given hereunder shall not operate to forfeit any of the said rights. (f) It is hereby understood and agreed that manager shall use no signs in connection with the premises hereunder, except inside the building, which signs shall be subject to the prior approval of the City. (g) It is understood that no representations or promises shall be binding on the parties hereto except those representations and promises contained herein or in some future writing signed by the party making such representations or promises. Clearwater Community Sailing Center Management Agreement 8 (h) It is hereby agreed that if any installment of rent or any other sum due from manager is not received by City within five (5) days after such amount shall be due, manager shall pay to City a late charge equal to five percent (5%) of such overdue amount. The City shall not be required to accept any rent not paid within five (5) days subsequent of the date when due absent the simultaneous payment of this late charge. The requirement for a late charge set out herein shall not be construed to create a curative period or a grace period for the timely payment of rent. 21. SUBROGATION. The City and manager do agree that each will cause its policies of insurance for fire and extended coverage to be so endorsed as to waive any rights of subrogation which would be otherwise available to the insurance carriers, by reason of any loss or damage to the managed property or property of City. Each party shall look first to any insurance in its favor before making any claim against the other party. Nothing contained herein shall in any way be considered or construed as a waiver or re-agreement by the City of any and all of the other covenants and conditions contained in this agreement to be performed by the manager. 22. PARKING SPACES. Manager shall have the right to use and control any and all legal parking spaces/areas on or about the managed premises subject to the needs of the City for special events deemed necessary for official city business. The City agrees to cooperate with manager in obtaining any and all permits for use and/or construction of parking spaces/areas within the bounds of the management agreement area. 23. INDEMNIFICATION. The manager shall indemnify the City against all liabilities, expenses and losses incurred by the City arising out of or related to the managed premises or manager's use or occupancy thereof, to include but not being limited to (a) failure by the manager, or its agents, to perform any provision, term, covenant or agreement required to be performed by the manager under this agreement; (b) any occurrence, injury or personal or property damage which shall happen in or about the managed property or appurtenances resulting from the condition, maintenance, construction on or of the operation of the managed property; (c) failure to comply with any requirements of any governmental authority or insurance company insuring the managed property or its contents; (d) any security agreement, conditional bill of sale or chattel mortgage or mechanic's lien connected with manager, its obligations or operations, filed against the managed property, fixtures, equipment or personality therein; and (e) any construction, work, Clearwater Community Sailing Center Management Agreement 9 alterations or improvements by manager on the managed property. Such indemnification shall include reasonable attorney's fees for all proceedings, trials and appeals. 24. "AS IS" CONDITION. The manager accepts the managed premises on an "as is" basis, and City shall have no obligation to improve or remodel the managed premises, except as set forth above at paragraph 9(a). 25. CONSTRUCTIVE EVICTION. Manager shall not be entitled to claim a constructive eviction from the premises unless manager shall have first notified City in writing of the condition or conditions giving rise thereto and, if the complaints be justified, unless City shall have failed within a reasonable time after receipt of such notice to remedy such conditions. 26. JANITORIAL EXPENSES. City will continue to maintain its current level of janitorial services for the managed premises at its expense. Extraordinary expenses for cleanup or trash removal for major regattas or non-routine functions shall be the expense of the manager. 27. SEVERANCE. The invalidity or unenforceability of any portion of this agreement shall in nowise affect the remaining provisions and portions hereof. 28. CAPTIONS. The paragraph captions used throughout this agreement are for the purpose of reference only and are not to be considered in the construction of this agreement or in the interpretation of the rights or obligations of the parties hereto. 29. NO HAZARDOUS MATERIALS. The manager herewith covenants and agrees that no hazardous materials, hazardous waste, or other hazardous substances will be used, handled, stored or otherwise placed upon the property or, in the alternative, that such materials, wastes or substances may be located on the property, only upon the prior written consent of the City hereunder, and only in strict accord and compliance with any and all applicable state and federal laws and ordinances. In the event such materials are utilized, handled, stored or otherwise placed upon the property, manager expressly herewith agrees to indemnify and hold City harmless from any and all costs incurred by City or damages as may be assessed Clearwater Community Sailing Center Management Agreement 10 against City in connection with or otherwise relating to said hazardous materials, wastes or substances at anytime, without regard to the term of this agreement. This provision shall specifically survive the termination hereof. 30. CONFORMANCE WITH LAWS Manager agrees to comply with all applicable federal, state and local laws during the life of this Contract. 31. ATTORNEY'S FEES. In the event that either party seeks to enforce this Contract through attorneys at law, then the parties agree that each party shall bear its own attorney fees and costs. 32. GOVERNING LAW. The laws of the State of Florida shall govern this Contract, and any action brought by either party shall lie in Pinellas County, Florida. Clearwater Community Sailing Center Management Agreement 11 IN WITNESS WHEREOF, the parties hereto have executed this Contract as of the date set forth above. Approved as to form: ~ J n Carassas City Attorney Attest: _ ~;,. ~5-'d ~ <......, .--:~- ~1- -> OAI..' -..;> '. -.--.. .__ _ --::> ~J,~ ~\ L~\t.JG-. Print Name: Secretary By: .-ldJWilliam B If City anager Attest: - c. CLEARWATER COMMUNITY SAILING ASSOCIATION, INC. BY:~ Prirft Name: ~~~ (n,. S hoc-=\: Title: P~l&u-v-t Clearwater Community Sailing Center Management Agreement 12 Exhibit A Commence at the Southwest corner of Section 17, Township 29 South, Range 15 East; thence N8901 O'31"E along the South boundary of said Section 17, a distance of 843.47 feet to a point of intersection with the centerline of the Gulf Boulevard Right-of-Way; thence N42013'31 "E along the centerline of said Right-of-Way a distance of 1983.25 feet to a point of curvature; thence along a curve to the left, said curve also being the centerline of the said Right-of-Way, having a chord bearing of N34049'43"E, a radius of 1909.86 feet, a central angle of 14047'32", an arc length of 493.07 feet, and a chord length of 491.71 feet to the Point of Beginning; thence N5r35'40"W along a non-radial line a distance of 50.19 feet to the point of cusp, of a non- tangent curve, said point also being on the west Right of Way line of Gulf Boulevard; thence along a curve to the left, said curve also being the said west Right of Way line of chord bearing ofN25058'24"E, a radius of 1859.86 feet, a central angle of 2038'32", an arc length of 85.77 feet, and a chord length of 85.76 feet; thence S61 044'07"E along a non-radial line a distance of 137.96 feet; thence S25051'33"W a distance of 95.81 feet; thence N5r35'40"W along a non- radial line a distance of 88.73 feet to the aforementioned Point of Beginning. Commence at the Southwest corner of SECTION 17, TOWNSHIP 29 SOUTH, RANGE 15 EAST, run N. 89010'31" E., 843.47 feet; thence run N. 42013'31" E. 886.07 feet, thence run S. 4r46'29" E., 50.00 feet to the Point of Beginning; thence run N. 42013'31" E. 630.00 feet, thence run S. 4r46'29" E., 200.00 feet plus or minus to the Mean High Water Line of Clearwater Harbor; thence run along said Mean High Water Line to a Point, Said Point being the intersection of the Mean High Water Line and a Line having a Bearing of S. 4r46'29" E., from the Point of Beginning; thence run N. 4r46'29" W., 237.00 feet plus or minusto the Point of Beginning. Clearwater Community Sailing Center Management Agreement 13 Exhibit B INSURANCE AND RISK OF LOSS HOLD HARMLESS Manager agrees to hold the City, its elected officials, employees, and agents harmless against all fines, penalties, and claims for bodily injury, sickness, disease, death or personal injury or damage to property or loss of use resulting there from, arising out of this Agreement unless such claims are a result of the City's negligence. This provision shall survive the termination of this Agreement. PAYMENT ON BEHALF OF CITY Manager agrees to pay on behalf of the City, and to pay the cost of the City's legal defense, as may be selected by the City, for all claims described in the Hold Harmless paragraph identified immediately above. Such payment on behalf of the City shall be in addition to any and all other legal remedies available to the City and shall not be considered to be the City's exclusive remedy. LOSS CONTROL/SAFETY Precaution shall be exercised at all times by manager for the protection of all persons, including employees, and property. Manager shall be expected to comply with all laws, regulations or ordinances related to safety and health and shall make special effort to detect hazardous conditions and shall take prompt action where loss control/safety measures should reasonably be expected. The City may order work to be stopped if conditions exist that present immediate danger to persons or property. Manager acknowledges that such stoppage will not shift responsibility for any damages from manager to the City. BASIC COVERAGES REQUIRED Manager shall procure and maintain the following described insurance, except for coverage specifically waived by the City, on policies and with insurers acceptable to the City. These insurance requirements shall not limit the liability of manager. The City does not represent these types or amounts of insurance to be sufficient or adequate to protect manager's interests or liabilities, but are merely minimums. Such coverages shall protect manager from claims for damages for personal injury, including accidental death, as well as any party directly or indirectly employed by manager. Except for workers compensation and professional liability, manager's insurance policies shall be endorsed to name the City as an additional insured to the extent of the City's interests arising from this Agreement. Except for workers compensation, manager waives its right of recovery against the City, to the extent permitted by its insurance policies. Clearwater Community Sailing Center Management Agreement 14 Manager's deductibles/self-insured retentions shall be disclosed to the City and may be disapproved by the City. They shall be reduced or eliminated at the option of the City. Manager is responsible for the amount of any deductible or self-insured retention. Insurance required of manager or any other insurance of manager shall be considered primary, and insurance of the City shall be considered excess, as may be applicable to claims which arise out of the Hold Harmless, Payment on Behalf of City, Insurance, Certificates of Insurance and any Additional Insurance provisions of this Agreement. Where no specific limit of coverage is mentioned in this Agreement, the minimum limit of insurance coverage required by the City shall be $500,000. Workers Compensation Coverage Manager shall purchase and maintain statutory workers compensation insurance for all workers compensation obligations imposed by state law and employers liability limits of at least $100,000 each accident and $100,000 each employee/$500,000 policy limit for disease. Manager shall also purchase any other coverage required by law for the benefit of employees. General, Automobile, And Excess Or Umbrella Liability Coverage Manager shall purchase and maintain coverage on forms no more restrictive than the latest editions of the Commercial General Liability and Business Auto policies of the Insurance Services Office. Minimum limits of $500,000 per occurrence for all liability must be provided, with excess or umbrella insurance making up the difference, if any, between the policy limits of underlying policies and the total amount of coverage required. Commercial General Liability Coverage - Occurrence Form Required Coverage A shall include bodily injury and property damage liability for premises, operations, products and completed operations, independent contractors, contractual liability covering this Agreement, broad form property damage, and property damage resulting from explosion, collapse or underground (x, c, u) exposures. Coverage B shall include personal injury. Coverage C, medical payments, is not required. Manager is required to continue to purchase products and completed operations coverage, at least to satisfy this Agreement, for a minimum of three years beyond the City's acceptance of any renovation or construction projects. Minimum limits of $500,000 per occurrence for all liability must be provided, with excess or umbrella insurance making up the difference, if any, between the policy limits of underlying policies and the total amount of coverage required. Business Auto Liability Coverage Business Auto Liability coverage is to include bodily injury and property damage arising out of ownership, maintenance or use of any auto, including owned, non-owned and hired automobiles and employee non-ownership use. Clearwater Community Sailing Center Management Agreement 15 Excess Or Umbrella Liabil~ty Coverage Umbrella Liability insurance is preferred, but an Excess Liability equivalent may be allowed. Whichever type of coverage is provided, it shall not be more restrictive than the underlying insurance policy coverage. Excess or Umbrella Liability insurance shall include bodily injury and property damage coverage. Manager shall purchase and maintain Excess or Umbrella Liability coverage over and above its other liability coverage in the amount of $500,000. Property Coverage for Sailing Center The City shall maintain for the life of the Agreement, all risk/special perils (including sinkhole) property insurance (or its equivalent) to cover loss resulting from damage to or destruction of the sailing center, and its improvements, and any attached personal property or contents belonging to the City. Flood Insurance City shall procure and maintain, flood insurance either for the insured value of any buildings or structures located on the managed premises or the maximum amount of flood insurance available through the National Flood Insurance Program. EVIDENCE/CERTIFICATES OF INSURANCE Required insurance shall be documented in Certificates of Insurance that provide that the City shall be notified at least 30 days in advance of cancellation, non-renewal or adverse change. New Certificates of Insurance are to be provided to the City at least 15 days prior to coverage renewals. If requested by the City, manager shall furnish complete copies of manager's insurance policies, forms and endorsements. For Commercial General Liability coverage, manager shall, at the option of the City, provide an indication of the amount of claims payments or reserves chargeable to the aggregate amount of liability coverage. Receipt of certificates or other documentation of insurance or policies or copies of policies by the City, or by any of its representatives, which indicate less coverage than required does not constitute a waiver of manager's obligation to fulfill the insurance requirements herein. Clearwater Community Sailing Center Management Agreement 16 Exl:1ibit C Clearwater Community Sailing Association, Inc. "Sailing For Everybody" Business Plan Authored by: Paul Evans (Chairman CCSA non-profit formation program) David Billing (Business Plan Committee) Barbara Short (Business Plan Committee) Joe Calio (Vice-Chairman CCSA non-profit formation program) 07/12/2002 Contents: 1. Mission 2. Goals 3. Facilities 4. Programs 5. Regattas 6. Example programs 7. Glossary 8. Biographies 9. Finances Clearwater Community Sailing Center Management Agreement 17 .. 1. Mission The mission of the Clearwater Community Sailing Association is to promote community sailing at the showcase, the Clearwater Community Sailing Center, and to promote educational sailing programs for all under the slogan, "Sailing For Everybody." This includes youth, seniors, disabled, recreational and Olympic class sailors. 2. Goals The purposes of this non-profit organization shall be: . To maximize utilization of the . To expand CCSC facilities in size and scope, including parking . To promote sailing education . To build upon and enhance the fleet of boats for educational and recreational use · To promote regattas on a local, national and international scale . To more fully serve the community and local sailing . To attract grants & funding from various sources . To act as a focus for Olympic class training and racing . Develop a strong volunteer program · To alleviate the financial burden from the City of Clearwater and its tax base 3. Facilities Years ago local sailors flocked to the beach at Sand Key to launch boats off the sandy area where today stands the CCSC. It was due to the combined efforts of many local sailors from individuals, Clearwater Yacht Club (CYC) and Windjammers of Clearwater (WJoC) that the site was saved from becoming a parking lot and transformed it into one of the finest sailing facilities in North America. The current site consists of a modern building with office, storage, repair, elevator, utility, toilet, shower and meeting facilities. The physical site includes all land from the edge of Gulf Boulevard to the waters edge and from the property line of the Radisson Sand Key (at the South) to the end of the beach (at the North) The Phase I area consisting of the building, compound and parking lot are barely able to support regional or mid winters grade regattas for larger classes. This puts a strain on resources and space. It provides limits on regatta size and hurts the image of the CCSC with visiting sailors. Furthermore it restricts the ability of the Center to generate larger lines of Income. Core to turning around the ability of the CCSC to be self-supporting and to be a truly useful facility is its expansion into the facility it was originally envisaged to be, including Phase II with Managed Storage. Clearwater Community Sailing Center Management Agreement 18 .. Further additions would entail a re-arrangement of the existing compound and the addition of special interest sheds and storage. Addition to the existing dock space on the South dock and addition of a North dock would be a primary aim. Modification of the existing space would make possible the establishment of a small rest area with a cafe serving coffee, sandwiches and soda and a small chandlery stocking replacement dinghy parts on site and with locker rental for sailors. Addition of storage for user Groups such as Sailability, Windjammers, etc. 4. Programs A sailing center lives or dies by its programs running day to day. These programs would be expanded to include the following: · CCSC supported teaching programs, with CCSC members . Youth sailing and training · Seniors sailing and training · Private tuition lessons to CCSC members · Olympic grade tuition from Olympic class members & instructors to other teams · Collaborative courses with "Stay and Sail" package deals with adjacent hotels · Expanded opportunities to use CCSC sailing boats with other local organizations such as WJoC, CYC, Sailability, Sunfish group, etc. · "Go Sailing" events to increase exposure to the public · US Sailing Clinics · Non-profit groups will continue to enjoy preferential use of meeting room · Hours of operation extended by use of flex time - 8 AM to 4 PM and 12 PM to dusk with core hours of 12 PM to 4 PM. Similar hours over weekends and holidays. · Kayak and paddling sports · Rental concession for day sailing visitors Paralympic classes (Sonar [draft 3' 11"] and 2.4metre [3' 3"]) are not currently suitable for launching at the current CCSC - future work might make this a possibility. Significantly wider exposure for the and programs will be exploited in the Sailing Press including Southwinds, Sailing World, Cruising World, SAIL, Sailing, etc. at all opportunities. 5. Regattas The CCSC has tremendous potential to host many more regattas than it currently does, especially with an attractive fee structure, support and improved facilities. Chief advantages are: · Local accommodation extensive · 365 days of the year compatible weather - especially attractive for MidWinter events · On site repair and replacement · Accessibility to Clearwater Harbor and Gulf of Mexico sailing . On site refreshments · Extensive beachfront makes dolly launching easy - IOD, Laser, Laser II, Cats. Clearwater Community Sailing Center Management Agreement 19 · Need to exploit untapped catamaran racing circuit - Alter Cup, Olympic Training, Hobie National events for all Hobie classes, Nacra, Inter and Prindle, etc. The CCSC can genuinely become a major Regatta site - one that is grossly under utilized at present. 6. Example programs These example programs show how it can be done. These are all examples of Non-Profit run Community Sailing Centers that have explanatory web sites. Some have a history; others are growing, some just adding major building facilities. All seem vibrant and backed by their local sailing community. Sandy Hook Bay Catamaran Club - http://fleet250.orQ Baltimore Community Sailing Center - http://www.downtownsailinQ.orQ Naples (FL) Community Sailing Center - http://www.QulfcoastsailinQclub.orQ/NaplesCSC.htm Savannah Sailing Center - http://www.savannahsailinQcenter.orQ Boston Piers Park Sailing Center - http://www.piersparksailinQ.orQ Boston Courageous Sailing Center - http://www.couraQeoussailinQ.orQ Baltimore County Sailing Center - http://www.bcsailinQ.orQ United States Sailing Center, Long Beach - http://www.uscsailinQ.orQ/.htm Traverse Area Community Sailing - http://www.tacsailinQ.com Lake Champlain Community Sailing Center - http://www.lccsc.orQ Breakwater Yacht Club, Community Sailing Center, Sag Harbor NY - http://www. breakwatervc. orQ Regatta Point Community Sailing, Worchester MA - http://www.reQattapoint.orQ Sail Sand Point Community Sailing Center, Seattle - http://www.sailsandpoint.orQ Jericho Community Sailing Centre, Vancouver BC - http://www.isca.bc.ca Hampton Roads Community Sailing Center - http://www.sailhamptonroads.orQ Milwaukee Community Sailing Center - http://www.sailinQcenter.orQ Edison Sailing Center - http://www.edisonsailinQcenter.orQ Treasure Island Sailing Center - http://www.tisailinQ.orQ Mount Desert Island Community Sailing Center - http://www.ellsworthme.orQ/mdisailinQ Shake-a-Leg, Miami - http://www.shakealeQmiamLorQ 7. Glossary CCSC - Clearwater Community Sailing Center CYC - Clearwater Yacht Club WJoC - Windjammers of Clearwater Dusk - one half hour prior to sunset 8. Biographies of team members Paul Evans is aged 43 and has been sailing for 36 years. Paul is currently Commodore of Windjammers of Clearwater and owns a Catalina 36 sailboat. Paul owns his own consultancy company in computing and software. Previously he was in charge of Semiconductor clean-room Clearwater Community Sailing Center Management Agreement 20 . design in the UK with responsibility for design, building, commissioning and runninQ Class 10 clean room facilities. Projects included annual budgets in excess of $20m with an emphasis on finances, quality design and working with contractors. Barb Short is former General Manager of PacketWorks of Clearwater (an Internet ISP) and in charge of their day-to-day operations prior to being bought-out by a larger corporation. Barbara is extensively well traveled in the US participating in multi-hull racing competitions, seeing other Community Sailing Centers and takes a very active role as Activities Chair in WJoC. She and her husband currently own 4 catamarans from 13 to 20 feet in length. Her contacts with multi- hull sailors and organizations can be a major source of expanded events for catamaran sailing at CCSC. David Billing is a Past Commodore and member of the Board of Trustees at the Clearwater Yacht Club. He is very actively involved in the Youth Sailing Program at the Clearwater Yacht Club and travels the country widely with their youth team. He has extensive one design and offshore sailing experience and currently owns "Running Bare", a Beneteau 31. David is a software developer specializing in warehousing and distribution applications and is part owner of Billing and Unger Associates, who provide full service automated snack & cold drink vending services to the greater Clearwater area of Florida. Joe Calio is past president of Sand Key Civic Association and presently on the Board of Directors. Joe is a member of the Clearwater Fire Task Force charged with identifying the short and long-term fire safety needs of the city. With Chief Sid Klein he started the Sand Key Volunteer Police Beach Patrol. He is active in many projects on Sand Key including beautification of Gulf Boulevard. 9. Finances The year 2000-2001 City budget was used as a starting point for the outgoing expenses. The income is based upon best estimates for new and existing programs. Significant new income comes from a variety of sources including Managed Storage, Rental, Cafe / Parts, launching fees and additional events in the calendar. A fast-track approach is required to ensure that the new plans do not stagnate and that the "old ways" do not linger. Government, Corporate, Organizational and individual sponsorship will be sought for capital and revenue related line items. Appendix A Shows Satellite photograph of CCSC site. Appendix B Contains the timescales for completion of facilities, staffing and sailing event re- organization. Appendix C Contains the proposed rates table for the use of facilities Appendix D Contains the Expenses and Income statements for the proposed Non-Profit operation of the CCSC. Clearwater Community Sailing Center Management Agreement 21 Appendix A. Facilities Clearwater Community Sailing Center Management Agreement Appendix B. Timeline, CCSC Re-orQanization . .. .. .... .. .. . Ilmellne, l;l;~l; Ke-orgamsatlon faCilities Re-organlze compounCl ACICI sheCls t:xtena upstairs Nortn t-ence Dock Norm Ijeacn Storage I Retresnments I Programs I Promotion I Regatta ::llgn ups I Memoersnlp C1nve VOlunteer anve ~tatllng ~ MOCllty hours Re-examine staffing Re-examine pnvate lessons KeVlew Milestones uct UlJ!~'~uec Ul_Feb UJ IMarUJaaYUl Jun Ul _AU9 02. Clearwater Community Sailing Center Management Agreement Appendix C. Rates Table, 2002-2003 Activity per Sailing, Sunfish / Laser rental hour $10 Sailing, Sunbird / JY-15 rental hour $12 Kayak rental hour $10 Package deal, hotels, per person week $100 Tuition, CCSC hour $40 Storage, North Beach year $900 Storage, central compound night $5 Upper room rental (also consider seasonal rate) half day $500 Launching, ramp (drive-up rate) day $4 Preferred Group membership Event rate (<50 boats) day $200 Chase boat (large) hour $18 Chase boat (small) hour $15 Large event rate (>50 boats) negotiable Classes (private) - CCSC cut hour $10 Individual membership year Bronze, no charge launching & weekend storage $150 Silver add use of Sunfish & Laser $175 Gold add use JY -15 $200 Platinum add use Flying Scot $225 Family membership year Bronze, no charge launching & weekend storage $250 Silver add use of Sunfish & Laser $275 Gold add use JY -15 $300 Platinum add use Flying Scot $325 Clearwater Community Sailing Center Management Agreement Appendix D. 5 year BudQets Expenditure CCSC 02-03 03-04 04-05 05-06 06-07 F F F F FT Salaries (3) $100,000 1.06 $106,000 1.03 $109,180 1.03 $112,455 1.03 $115,829 FTno. 3 3 3 3 3 PT Salaries $20,720 $20,720 $20,720 $20,720 $20,720 PTno. 3 3 3 3 3 Special Pay Overtime $1 ,400 1.06 $1 ,484 1.03 $1,529 1.03 $1,574 1.03 $1,622 Vacations Sick Time Funeral Jury Duty Public Hols. Life Ins $20 $20 $20 $20 $20 Life Ins $300 $300 $300 $300 $300 Medical Ins $11,000 1.06 $11,660 1.06 $12,360 1.06 $13,101 1.06 $13,887 Pension Private pension Workers Com $3,000 1.06 $3,180 1.03 $3,275 1.03 $3,374 1.03 $3,475 SS Tax, etc. $12,072 1.06 $12,796 1.03 $13,180 1.03 $13,576 1.03 $13,983 IPersonnel Srv $148,5180 $156,1660 $160,5700 $165,1260 $169,8421 Contractors $150 1.03 $155 1.03 $159 1.03 $164 1.03 $169 inv purchase $2,500 1.03 $2,575 1.03 $2,652 1.03 $2,732 1.03 $2,814 Electricity $4,570 1.03 $4,707 1.03 $4,848 1.03 $4,994 1.03 $5,144 Gas & Water $13,590 1.03 $13,998 1.03 $14,418 1.03 $14,850 1.03 $15,296 Adverts $6,000 1.03 $6,180 1.03 $6,365 1.03 $6,556 1.03 $6,753 Tax 1.03 $0 1.03 $0 1.03 $0 1.03 $0 Equipment srv $2,500 1.03 $2,575 1.03 $2,652 1.03 $2,732 1.03 $2,814 Uniforms $1,500 1.03 $1,545 1.03 $1,591 1.03 $1,639 1.03 $1,688 Office $600 1.03 $618 1.03 $637 1.03 $656 1.03 $675 Supplies $4,000 1.03 $4,120 1.03 $4,244 1.03 $4,371 1.03 $4,502 Fuel $500 1.03 $515 1.03 $530 1.03 $546 1.03 $563 Memberships $1 ,000 1.03 $1,030 1.03 $1,061 1.03 $1,093 1.03 $1,126 Training $6,000 1 $6,000 1 $6,000 1 $6,000 1 $6,000 IOperating $42,9100 $44,017CI $45,1580 $46,3330 $47,5431 Garage $7,460 1.03 $7,684 1.03 $7,914 1.03 $8,152 1.03 $8,396 Documents $100 1.03 $103 1.03 $106 1.03 $109 1.03 $113 Telephone $1 ,000 1.03 $1,030 1.03 $1,061 1.03 $1,093 1.03 $1 , 126 Cell/ Nextel $1,800 1.03 $1,854 1.03 $1,910 1.03 $1,967 1.03 $2,026 Risk $510 1.03 $525 1.03 $541 1.03 $557 1.03 $574 IT $4,000 1.03 $4,120 1.03 $4,244 1.03 $4,371 1.03 $4,502 Building Maint $17,960 1.03 $18,499 1.03 $19,054 1.03 $19,625 1.03 $20,214 Cleaning $12,500 1.03 $12,875 1.03 $13,261 1.03 $13,659 1.03 $14,069 Postage $1,500 1.03 $1,545 1.03 $1,591 1.03 $1,639 1.03 $1,688 Credit Cards/Banking $3,000 1.03 $3,090 1.03 $3,183 1.03 $3,278 1.03 $3,377 Insurance $3,000 1.03 $3,090 1.03 $3,183 1.03 $3,278 1.03 $3,377 Broadband access $900 1.03 $927 1.03 $955 1.03 $983 1.03 $1,013 Clearwater Community Sailing Center Management Agreement '- I _I oJ Printing $4,000 1.03 $4,120 1.03 $4,244 1.03 $4,371 1.03 $4,502 Emp relations $250 1.03 $258 1.03 $265 1.03 $273 :1.03 $281 Ilnternal Srv $57,9800 $59,7190 $61,511CI $63,3560 $65,2571 Boats $9,320 1.03 $9,600 1.03 $9,888 1.03 $10,184 1.03 $10,490 Equipment (other) $5,000 1.03 $5,150 1.03 $5,305 1.03 $5,464 1.03 $5,628 ICapital $14,3200 $14,7500 $15,1920 $15.6480 $16,1171 Total: $263,728 $274,653 $282,431 $290,463 $298,758 Retained earnings $43,938 $34,720 $34,649 $28,324 $27,736 Clearwater Community Sailing Center Management Agreement Appendix D. 5 year BudQets Income CCSC including phase 2 2 3 4 5 per day mo yr per day mo yr per day mo yr per day mo yr per day mo yr Storage $75100 12 $90,000 $75 100 12 $90,000 $80 100 12 $96,000 $80 100 12 $96,000 $85 100 12 $102,000 Room Rental $500 1 35 1 1 $17,500 $525 1 35 1 1 $18,375 $550 1 35 1 1 $19,250 $575 1 35 1 $20,125 $600 1 35 1 1 $21,000 Community Rental $250 24 1 1 1 $6,000 $250 24 1 1 1 $6,000 $250 24 1 1 1 $6,000 $250 24 1 1 $6,000 $250 24 1 1 1 $6,000 Boat Rental $18 4 4 1 52 $14,976 $19 4 4 1 52 $15,808 $20 4 4 1 52 $16,640 $21 4 4 1 52 $17,472 $22 4 4 1 52 $18,304 Rental Concess $0 1 1 12 1 $0 $0 1 1 12 1 $0 $0 1 1 12 1 $0 $0 1 1 12 1 $0 $0 1 1 12 1 $0 Chase boats $50 1 35 1 1 $1,750 $50 1 35 1 1 $1,750 $50 1 35 1 1 $1,750 $50 1 35 1 1 $1,750 $50 1 35 1 1 $1,750 Soda $1 40 2 1 52 $4,160 $1 40 2 1 52 $4,160 $1 40 2 1 52 $4,160 $1 40 2 1 52 $4,160 $1 40 2 1 52 $4,160 Sandwich $3 20 2 1 52 $6,240 $3 20 2 1 52 $6,240 $3 20 2 1 52 $6,240 $3 20 2 1 52 $6,240 $3 20 2 1 52 $6,240 Launching $4 20 2 52 $8,320 $4 20 2 52 $8,320 $4 20 2 52 $8,320 $4 20 2 52 $8,320 $4 20 2 52 $8,320 Large Regatta $500 6 1 1 $3,000 $500 6 1 1 $3,000 $500 6 1 1 $3,000 $500 6 1 1 $3,000 $500 6 1 1 $3,000 Small Regatta $350 6 1 1 $2,100 $350 6 1 1 $2,100 $350 6 1 1 $2,100 $350 6 1 1 $2,100 $350 6 1 1 $2,100 Seminars $325 6 1 1 $1,950 $325 6 1 1 $1,950 $325 6 1 1 $1,950 $325 6 1 1 $1,950 $325 6 1 1 $1,950 Member (Res) $150 80 1 1 $12,000 $150 80 1 1 $12,000 $150 80 1 1 $12,000 $150 80 1 1 $12,000 $150 80 1 1 $12,000 Member (No-Res) $200 50 1 1 $10,000 $200 50 1 1 $10,000 $200 50 1 1 $10,000 $200 50 1 1 $10,000 $200 50 1 1 $10,000 Member (Junior) $75 50 1 1 $3,750 $75 50 1 1 $3,750 $75 50 1 1 $3,750 $75 50 1 1 $3,750 $75 50 1 1 $3,750 Class (summer) $100 40 1 8 $32,000 $100 40 1 8 $32,000 $100 40 1 8 $32,000 $100 40 1 8 $32,000 $100 40 1 8 $32,000 Class (Sat.) $100 40 1 11 $44,000 $100 40 1 11 $44,000 $100 40 1 11 $44,000 $100 40 1 11 $44,000 $100 40 1 11 $44,000 Private/Resort $120 8 1 52 $49,920 $120 8 1 52 $49,920 $120 8 1 52 $49,920 $120 8 1 52 $49,920 $120 8 1 52 $49,920 $307,666 $309,373 $317,080 $318,787 $326,494 Clearwater Community Sailing Center Management Agreement Exhibit D Clearwater Community Sailing Center Project Estimates Video Security System $16,897.00 Barrier Gates $15,010.10 Sailing Center Boat Storage behind restrooms $6,969.70 Boat Storage under Sand Key Bridge $7,123.20 New Docks to Assist ADA sailing program $28,000.00 Total requested $74,000.00 Clearwater Community Sailing Center Management Agreement Internal Revenue Service Department of the Treasury P. O. Box 2508 Cincinnati, OH 45201 Date: June 17, 2002 Person to Contact: Cheryl Skaggs 31-04010 Customer Service Specialist Toll Free Telephone Number: 8:00 a.m. to 6:30 p.m. EST 877-829-5500 Fax Number: 513-263-3756 Federal Identification Number: 59-2912008 Clearwater Community Sailing Association, Inc. 1001 Gulf Blvd. Clearwater, FL 34767 Dear Sir or Madam: This letter is in response to your request for a copy of your organization's determination letter. This letter will take the place of the copy you requested. We have updated the address as shown above. Our records indicate that a determination letter issued in February 1989, granted your organization exemption from federal income tax under section 501 (c)(3) of the Internal Revenue Code. That letter is still in effect. Based on information subsequently submitted, we classified your organization as one that is not a private foundation within the meaning of section 509(a) of the Code because it is an organization described in section 509(a)(2). This classification was based on the assumption that your organization's operations would continue as stated in the application. If your organization's sources of support, or its character, method of operations, or purposes have changed, please let us know so we can consider the effect of the change on the exempt status and foundation status of your organization. Your organization is required to file Form 990, Return of Organization Exempt from Income Tax, only if its gross receipts each year are normally more than $25,000. If a return is required, it must be filed by the 15th day of the fifth month after the end of the organization's annual accounting period. The law imposes a penalty of $20 a day, up to a maximum of $10,000, when a return is filed late, unless there is reasonable cause for the delay. All exempt organizations (unless specifically excluded) are liable for taxes under the Federal Insurance Contributions Act (social security taxes) on remuneration of $100 or more paid to each employee during a calendar year. Your organization is not liable for the tax imposed under the Federal Unemployment Tax Act (FUT A). Organizations that are not private foundations are not subject to the excise taxes under Chapter 42 of the Code. However, these organizations are not automatically exempt from other federal excise taxes. Donors may deduct contributions to your organization as provided in section 170 of the Code. Bequests, legacies, devises, transfers, or gifts to your organization or for its use are deductible for federal estate and gift tax purposes if they meet the applicable provisions of sections 2055,2196, and 2522 of the Code. lk(Q)~V 1.>- . -2- Clearwater Community Sailing Association, Inc. 59-2912008 Your organization is not required to file federal income tax returns unless it is subject to the tax on unrelated business income under section 511 of the Code. If your organization is subject to this tax, it must file an income tax return on the Form 990- T, Exempt Organization Business Income Tax Return. In this letter, we are not determining whether any of your organization's present or proposed activities are unrelc;lted trade or business as defined in section 513 of the Code. The law requires you to make your organization's annual return available for public inspection without charge for three years after the due date of the return. You are also required to make available for public inspection a copy of your organization's exemption application, any supporting documents and the exemption letter to any individual who requests such documents in person or in writing. You can charge only a reasonable fee for reproduction and actual postage costs for the copied materials. The law does not require you to provide copies of public inspection documents that are widely available, such as by posting them on the Internet (World Wide Web). You may be liable for a penalty of $20 a day for each day you do not make these documents available for public inspection (up to a maximum of $10,000 in the case of an annual return). Because this letter could help resolve any questions about your organization's exempt status and foundation status, you should keep it with the organization's permanent records. If you have any questions, please call us at the telephone number shown in the heading of this letter. This letter affirms your organization's exempt status. Sincerely, g~g~ John E. Ricketts, Director, TE/GE Customer Account Services ~