HomeMy WebLinkAbout16- 1st Addendum to Bozeman Sports Parks Foundation Agreement for the Sports ParkADDENDUM NO. 1 TO AGREEMENT
BETWEEN CITY OF BOZEMAN AND BOZEMAN SPORTS PARKS FOUNDATION,
INC. FOR THE BOZEMAN SPORTS PARK
THIS ADDENDUM TO THE AGREEMENT BETWEEN CI'T'Y OF BOZEMAN AND
THE BOZEMAN SPORTS PARKS FOUNDATION, INC. FOR THE BOZEMAN
SPORTS PARK ("Agreement") is made and entered into this 11""' day of ,
2016, by and between the CITY OF BOZEMAN, MONTANA, a self-governing municipal
corporation organized and existing under its Charter and the laws of the State of Montana, 121
North Rouse Street, Bozeman, Montana, with a mailing address of PO Box 1230, Bozeman, MT
59771, hereinafter referred to as "City," and the Bozeman Sports Parks Foundation, a Montana
nonprofit corporation, with a mailing address of PO Box 1126, Bozeman, MT 59771, hereinafter
referred to as "Foundation" and together with the City, the "Parties."
WHEREAS, the City and the Foundation entered into the Agreement effective February 23,
2015, whereby the Foundation agreed to make the Foundation Contribution of $976,100
available for disbursement to the City no later than June 30, 2016; and
WHEREAS, the Foundation has made significant progress toward meeting its obligation to make
the Foundation Contribution but requires more time to fully meet this obligation; and
WHEREAS the City desires to grant the Foundation more time to make the Foundation
Contribution;
NOW, THEREFORE in consideration of the mutual covenants and agreements herein contained,
the receipt and sufficiency whereof being hereby acknowledged, the parties hereto agree as
follows:
1. Extension of Time for Performance. Section 6(c) of the Agreement is replaced in its
entirety with the following:
The Parties expect that at least 50% of the Foundation Contribution will be
available for disbursement to the City no later than December 31, 2016, with the
remainder of the Foundation Contribution available no later than June 30, 2017.
Addendum No.I to Agreement with Bozeman Sports Park Foundation
July 1, 2016 — June 30, 2017
Page 1 of 2
The City may proceed with awarding the construction contract prior to that date
based on the amount of funds available at the time of award. If the Foundation has
not raised and made available the full Foundation Contribution by or before June
30, 2017, the City Commission may grant an extension by amendment to this
Agreement, or may terminate the Agreement upon thirty (30) days notice to the
Foundation. The Foundation will use reasonable, good faith efforts to raise
private funds in an amount sufficient to at least equal the Foundation Contribution,
and will provide regular updates on the progress of the fundraising efforts to the
City.
2. Representatives. For the purposes of implementing the Agreement as amended by this
Addendum 1, the Foundation's representative shall be the Chair of the Board of
Directors. The City's representative shall be the Director of Parks and Recreation or
his/her designee.
3. Agreement still valid. All remaining terms and provisions of the Agreement remain
valid.
**** END OF AGREEMENT EXCEPT FOR SIGNATURES ****
IN WITNESS WHERE,®F, the parties hereto have executed this instrument the day and
year first above written.
CITY OF BOZEMAN, MONTANA BOZEMAN SPORTS PARK FOUNDATION
'. a,"
By: v�A B3
Chris Kukulski, City Manager Print Name: �} �� o ►�, � l c. (�
Title:-r�YL
APPR `YED FORM
By
Greg u liva n
City Attorney
Addendum No.l to Agreement with Bozeman Sports Park Foundation
July 1, 2016 — June 30, 2017
Page 2 of 2