DEBT SEREVICE REIMBURSEMENT 10-01-88 TO 09-30-93
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D~T SERVICE REIMBURSEMENT AGREEMENI~
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THIS AGREEMENT, dated thisc?Y~ day of ~-iJZ:nr./l.Ut./{
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between the CITY OF CLEARWATER, FLORIDA, a municipal corporation,
A.D., 1988,
hereinafter
called "City", and PACT, Inc.; a Florida not-for-profit corporation, herein-
after called "PACT":
WIT N E SSE T H:
WHEREAS, the City owns certain real estate adjacent to the Perform-
ing Arts Center and Theater of PACT within the Richard B. Baumgardner Center
for the Performing Arts, more fully described herein; and
WHEREAS, the Ci ty has granted to PACT an easement for ingress and
egress over the land described on Exhibit A, attached hereto, and an easement
for parking over the land described on Exhibit B, attached hereto; and
WHEREAS, the City has constructed an entry road and parking lot on
said land, the cost of which has been financed by the issuance of its Parking
Revenue Bonds, Series 1983, in the face amount of $950,000; and
WHEREAS, PACT has agreed to reimburse the City a sum equal to the debt
service on said bonds, together with the costs of operation of that parking
lot, so that it becomes self-supporting financially;
NOW, THEREFORE, in consideration of the mutual promises herein
contained and of the prior actions taken in reliance on the parties prior
agreements which are now reduced to writing, the parties hereto agree as
follows:
1. The City will operate and maintain as part of its parking system
parking lots located on the land described on Exhibit B, such operation and
maintenance to conform with standards utilized on other lots and as required
by parking bond ordinances presently in effect.
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, 2. PACT agrees 10 pay to the City on or before le tenth (10th) day of
each month during the term of this agreement, the sum of $11,045.98. This
amount is composed of one twelfth of the average annual debt service and one
twelfth of the annual operating costs of the City, currently estimated to be
$1,333.33 per month. Both parties agree that prior to October 1st of each
year, the operating costs portion of the payment set forth herein shall be
subject to reexamination by the City to determine whether it is calculated in
a manner consistent throughout the parking system. The City reserves the right
as a part of such reexamination to change or adjust such portion of the
payment following each annual reexamination, provided, however, that the fee
shall not exceed the amount necessary to raise funds sufficient to service the
parking bonds and to pay for the maintenance required of the City hereunder.
Any applicable sales taxes shall be paid by PACT.
3. In lieu of the payments required by the foregoing paragraph, the
Ci ty may, at its sole option, deduct any payment due hereunder from any
payments due Pact by the City.
4. The term of this Parking Use Agreement shall be for five (5) years
commencing on the 1st day of October ,1988, and ending on the 30th
day of September, 1993.
5. As one of its operating expenses, PACT will maintain the grounds,
plant material and landscaping located at the entranceway, around and within
the parking areas and adjoining the Performing Arts Theater building.
6. City agrees to pay the cost of electricity associated with the
parking lots and entranceway, maintenance of striping and sweeping of parking
lot, such costs to be included as part of the parking system expenses.
7. This agreement shall not be interpreted or applied so as to create
any conflict with any bond ordinance presently applicable to the parking
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Should it be flund that a conflict does exist, Ibhen the provisions of
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system.
the bond ordinance shall control.
8. Notice relating to any provisions of this agreement shall be sent
to:
CITY: City Manager, City of Clearwater
P. O. Box 4748
Clearwater, Florida 34618
PACT: Executive Director, PACT, Inc.
1111 McMullen Booth Road
Clearwater, Florida 34619
9. Should PACT default in the performance of the payment obligation
and maintenance function set forth herein, then the City shall have the right
to require PACT to post a bond to cover future performance.
10. This agreement constitutes the entire agreement between the parties
and shall be governed by the laws of Florida.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the day and year first above written.
tersigned:
By:
CI~ CLEARWATER" F F~LO, DA
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City Manager
Approved as
orrectness:
ATTEST:
'4iJJ~.. Q;- 'c:~.
A . Cit:L*erk- -. ,..>. ,.'
City Attor
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As to Pact, Inc.
By:
PA~~
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resl. ent
Attest: ~
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That certain piece, parcel, or tract of land lying in and being part of
the North 1/2 of Section 9, TO\'inship 29 South, Range 16 East, Pinellas
County, Florida, being set aside for use as a per~anent ingress and
egress easement, with access roads being constructed within the boun-
daries thereof as described as follows:
From the center of said Section g, N 000 07' 43" E, an~ along the
North-South centerline of said Section, ~ distance of 54.0 feet for
a P.O.B.; thence rJ 890 21' 08" W, and parallel with the East-IIest
centerline of said Section, a distance of 374.4 feet; thence N 000
07' 43" E, and parallel with the North-South centerline of said
Section, a distance of 556.57 feet; thence r~ 890 18' 31" 1-1, a
distance of 911.28 feet to the West right-of-way of State Road No.
593 and/or McMullen-Booth Road, a 100 foot right-of-way, as now
established; thence N 000 07' 00" E, and along said right-of-way, a
distance of 60.0 feet to the Southwest corner of Kapok Manor
Condominium Village One, as recorded in Condominium Plat Book
22, pages 48 through 51 inclusive, Public Records of Pinellas
County, Florida; thence S 890 18' 31" E, a distance of 1586,49 feet;
thence SODa 07' 43" W, and parallel with the North-South centerline
of said Section 9, a 01stance of 616.06 feet; thence N 890 21' 08" W,
and parallel wi'h the East-West centerline of said Section, a
distance of 300.8 feet to the P.O.B.
EXHIBIT A
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;. panel of lond lying i/1 [tIe South 1/2 of the North 1/2 of Section 9, To~'nship
29 SO'-'lh, R2nge 16 Easl, Clear'.'ater, Pincllas County, Florid2, and being more
particularly described as follows:
EEGIII at the center of said Section 9; thence N 89021'08" \01, along the E2SL-
\,'est centerline of said S~ctlon, also being the North boundary of DEL ORO
EsnTES, 'as recorded In Plat 800k 46, Pace 29, of the Public Records of
Pinellas County, Florida, for 695.52 feet to -a point lying 640.00 feet East of
the centerline of Mc~IULLfIi-BOOTH ROAD (STATE ROAD 593); thence N 0007'00" E
'640.00' from and parallel with the centerline of said road, for 610.82 feet to
a point lying 60.00 feet,$outh of the southerly boundary of KAPOK HANOR CO~OD-
HINJUI'I VlLLAGE ONE, as recorded in Plat Book 22, pages 48 through 51 of the
Public Records of Pinellas County,.'Florida; thence S 89018'31" E, 60.00 feel
from and parallel with said South boundary for' 321.25 feet; thence
S 0007'43" \,', for 556.57 feet; thence S 89021'OB" E, for 374.40 feet, to a
point on the North-South centerline of said Section 9; thence continue
S 89021'08" E, for 300.80 feet; thence N 0007'43" E, for 616.06 feet; thence
N 89018'31" \,', for '300,BO feet to the North-South centerline of said Section;
thence N 0007'43" E along said North-South centerl ine for 550,00 feet; thence
S 89017'05" E and parallel with the North boundary of s2id South half of the
North half of said Section, for 290,00 feet; thence N 0007'43" E, for 50.00
feet; thence S 89017'05" E, for 17.02 feet; thence S 0007'43" W along a line
307.00" easterly from and parallel to the North-South centerline of said
Section, fOr 1269.94 feet to a point on the East-\,'est centerline of said
Section, also being the Norlh boundary of DEL ORO GROVES.. as recorded In Plat
Book 12. Page 2, of the PubHc Records of Pinellas County, Florida; thence
N 89021'OB" W along said centerline for 307.02 feet to the POI/IT OF BEGINNI/IG,
and conlains 9.33 acres, more or less.
EXHIBIT B