AGREEMENT FOR THE REPAYMENT OF A LOAN
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A G R E E MEN T
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THIS AGREEMENT made and entered into this fa day
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, 1988,
by and between the CITY OF CLEARWATER, FLORIDA, a municipal
hereinafter referred to as "City," and the GREATER CLEARWATER CHAMBER OF
COMMERCE, INC., 128 Osceola Avenue, Clearwater, Florida, hereinafter referred
to as "Chamber"
WIT N E SSE T H:
WHEREAS, the Chamber has coordinated the construction of a welcome
station located on the west end of the Courtney Campbell Parkway at Damascus
Road, and
WHEREAS, the welcome station will provide tourist services which will
be of benefit to the City; and
WHEREAS, the Chamber has requested and the City has agreed to provide
financial assistance to the construction of the welcome station
NOW, THEREFORE, in consideration of the premises and of the covenants
and agreements between the parties, it is mutually agreed as follows;
1. The Chamber shall be responsible for the construction of the
welcome station on the Courtney Campbell Parkway, according to plans and
specifications approved by the City and, upon completion of the welcome
station, shall be responsible for its furnishing, operation and maintenance at
no cost to the City.
2. The City originally approved two no--interes t loans to the
Chamber in a total amount of $110,400.00 to be used for the construction of the
welcome station. Said amount was approved in two separate actions by the
Clearwater City Commission. In the first action, a loan in the amount of
$70,400.00 was approved on February 5, 1987, which included an estimated
$34,400.00 of City in kind services. The cash portion of $36,000.00 was paid
to the Chamber on July 7, 1987. The included in--kind services have since been
completed at an actual cost of $32,130.32 which reduces the amount of this loan
to $68,130.32. In the second action, $40,000.00 was approved on June 18, 1987,
and paid to the Chamber on July 7, 1987.
3. The total loan of $108,130.32 shall be repaid to the City by
the Chamber in ten equal annual payments of $10,813.03 per year, without
interest. Payment shall be made on or before the 15th day of November of each
year with the first payment due on November 15, 1988, and the final payment due
on November 15, 1997.
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4.
The olmber shall be responsible for thl timely payments of
all contractors and subcontractors and other persons working on the project,
including material suppliers, and shall not allow any mechanic.. s lien to be
placed on the property.
5. The Chamber shall be responsible for making certain that all
persons who work on this project have the proper licenses, permits, and
qualifications to perform said work.
6. The Chamber agrees that under no circumstances will
alcoholic beverages be sold or consumed in the facility when completed or on
the surrounding land.
IN WITNESS WHEREOF, the parties hereto have set their hands and seal
the date first above written.
CITY OF CLEARWATER, FLORIDA
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City Manager
By:
Attest;
Approved as to form and
correctness:
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City Attor ey
GREATER CLEARWATER CHAMBER
OF COMMERCE, INC.
Attest:
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Secretary
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Witnesses:
2.