HomeMy WebLinkAboutR-82-03731('l
RESOLUTION NO. 8 2- 3 7 3
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT IN SUBSTANTIALLY THE FORM
AS ATTACHED HERETO WITH MIAMI MOTORSPORTS, INC. _
GRANTING THE LICENSE AND PRIVILEGE TO CONDUCT
AUTO RACES IN DOWNTOWN MIAMI FOR A PERIOD OF
FIVE YEARS WITH TWO ADDITIONAL OPTIONS TO
EXTEND THE SAME FOR A TOTAL PERIOD OF FIFTEEN
YEARS.
WHEREAS, the City desires to expand national and international
tourism; and
WHEREAS, the City Commission, after reviewing a request sub-
mitted by Licensee for the holding of an automobile race in downtown
Miami, passed on February 11, 1982, Motion 82-81, approving the
holding of the race event; and
WHEREAS, the City Commission on March 11, 1982, by Resolution
No. 82-226, authorized the City Manager to negotiate an agreement
with Licensee to sponsor such an event; and
WHEREAS, Licensee has been granted preliminary national and
international sanction for the staging of an International Motor -
Sports Association race currently to be held on February 26 and
-February 27, 1983; and
WHEREAS, Licensee has received preliminary circuit approval
from the IMSA for an IMSA race in 1983; and
WHEREAS, Licensee desires to be granted a license and privilege
to stage an IMSA race in 1983, and, thereafter, racing events sanc-
tioned by IMSA, Formula I Championship Grand Prix (FIA), Championship
Automobile Racing Team (CART), and/or Sports Car Club of America
(SCCA) during the term of this license; and
WHEREAS, such an event, as contemplated by the parties, would
give favorable publicity and advertising of the advantages and oppor-
tunities of the City, and such publicity will be nation and world
wide; and
WHEREAS, such an event would draw thousands of individuals as
participants and spectators and therefore has significant impact on
the economy of the City; and
CITY COMMISSION
MEETING OF.
MAY 11 1982 r
82-3
Rsoum m NO...............••::w
741
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WHEREAS, the staging of the racing events will enhance the
City's growing image and draw attention to the City's downtown and
bayfront improvements; and
WHEREAS, City is willing to grant Licensee a license and pri-
vilege to stage an IMSA race in 1983, and other auto races during
the term of this license as approved by the City;
NOW, THEREFORE, BE IT RESOLVED BY THE COrLMISSION OF THE.CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to execute
an agreement in substantially the form as attached hereto with
Miami Motorsports, Inc. granting the license and privilege to
conduct auto races in downtown Miami for a period of five years
with two additional options to extend the same for a total period
of fifteen years.
PASSED AND ADOPTED this llth
19 82 .
ATTEST:
LPH G. ONGIE, CITY CLERW
PREPARED AND APPROVED BY:
FE NDE Z
ASSI TANT CITY ATTNEY
APPROVED AS TO FORM AND CORRECTNESS:
V.
GEORGE F. KN X, JR.,
CITY ATTORNE
day of May
Maurice A. Ferre
P4 A Y 0 R
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1 � .
Howard Gary
City Manager
Dena Spillman
May 6, 1982 -
Miami Grand Prix Contract
City Commission Agenda
May 13, 1982
It is recommended that the City Commission
authorize the City Manager to enter into - =
an agreement with Miami MotorSports, Inc.for the staging of an automobile race in
downtown Miami in February, 1983.
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On February 11, 1982, the City Commission passed Resolution No. 82-226, which
authorized the City Manager to negotiate an agreement with Miami MotorSports,
Inc. to sponsor an International Motor Sports Association race in downtown
Miami.
The attached agreement is presented for City Commission review and approval.
It has been negotiated with Mr. Ralph Sanchez of Miami MotorSports, Inc. by
Mr. Bill Harrison, the City's Lease Manager, and me.
The agreement is for a period of five years, beginning in January of 1933,
with 2 five-year options for renewal. After the first 5-year period, the
percentage of net profit received by the City will increase by 2`j' per year,
until the eleventh year of the race, when the percentage to the Ci-ty becomes
constant for the remainder of the term.
For the first five years, as consideration for allowing Miami MotorSports, Inc.
to stage this event in Bayfront Park, and for all concession and television
rights, the City will receive the following percentages of net profit which
accrue to the sponsor:
From $-0- to $1,000,000 - 10% of net profit
From $1,000,000 to $1,500,000 - 12.5;) of net profit
From $1,500,000 - 155, of net profit
The agreement allows for the sale of beer and trine in Bayfront Park. This
approval is necessary due to the nature of sponsorships for events of this
type; e.g., if Anheuser-Busch agrees to be a sponsor of the event, they will
require that their product be sold as part of any agreement to become involved
in the race. By copy of this memorandum, the City Attorney is hereby requested
to prepare the necessary legislation for City Commission action to enable this
to occur.
82-373
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AGREEMENT
THIS AGREEMENT made and entered into this day of
, 1982
by and between the City of Miami, a municipal corporation of the State of Florida,
hereinafter referred to as the "CITY" and Miami MotorSports, Inc., 10113 S.W.
72 Street, Miami, Florida 33173, a corporation organized and existing under the
laws of the State of Florida, hereinafter referred to as the "LICENSEE".
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WHEREAS, the City desires to expand national and international tourism;
and
WHEREAS, the City Commission, after reviewing a request submitted by
Licensee for the holding of an automobile race in downtown Miami, passed on
February 11, 1982, Motion 82-81, approving the holding of the race event; and
WHEREAS, the City Commission on March 11, 1982, by Resolution No. 82-226,
authorized the City Manager to negotiate an agreement with Licensee to sponsor
such an event; and
i
WHEREAS, Licensee has been granted preliminary national and international
!, sanction for the staging of an International MotorSports Association race currently
to be held on February 26 and February 27, 1983; and
WHEREAS, Licensee has received preliminary circuit approval from the
IMSA for an IH SA race in 1983; and
WHEREAS, Licensee desires to be granted a license and privilege to stage
an IMSA race in 1983, and, thereafter, racing events sanctioned by IMSA, Formula I
Championship Grand Prix (FIA), Championship Automobile Racing Team (CART), and/or
Sports Car Club of America (SCCA) during the term of this license; and
WHEREAS, such an event, as contemplated by the parties, would give
favorable publicity and advertising of the advantages and opportunities of the
City, and such publicity will be nation and world wide; and
.82-373
WHEREAS, such an event would
draw thousands of individuals as partici-
pants
and spectators and therefore has
significant impact on the economy of the
tr
City;
and
I
WHEREAS, the staging of the
racing events will enhance the City's growing
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image
and draw attention to the City's
downtown and bayfront improvements; and
'
WHEREAS, City is willing to
grant Licensee a license and privilege to
stage
an IMSA race in 1983, and other
auto races during the term of this license
_
as approved by the City:
NOW THEREFORE, in consideration of the mutual terms and conditions
hereinafter set forth, it is agreed as follows:
1. City hereby grants to the Licensee the license and privilege to conduct
the above referenced auto racing events under the auspices of the International Motor -
Sports Association, or other sanctioning authorities as referred to on Paqe 1 of this
agreement,on City property and public rights of way under City authority situated
within the racing circuits as shown on the drawings attached hereto marked Exhibits
"A" and "B", which will be duly sanctioned by the appropriate national and inter-
national bodies, commencing in 1983 and continuing each year thereafter during the
term of this agreement. The City property within said circuit and covered by this
license includes Bayfront Park, Bayfront Auditorium and the FEC park property.
2. The parties hereto recognize that a portion of Bayfront Park may be
under construction during the first year and possibly future years of the races.
Should such construction interfere with the staging of any race, the event shall
be held on the circuit as shown on the drawing attached hereto marked Exhibit "B".
The City property within said circuit and covered by this agreement includes
Bayfront Park, Bayfront Auditorium and the FEC park property. The City Manager
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shall make the final determination as to which circuit shall be used, no later than
ninety (90) days before the scheduled date of the event.
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1. It is understood that the Licensee agrees to make separate arrangements
with any entities having a legal interest in the areas located within the racing
circuits contemplated by this agreement, including but not limited to the Off -Street
Parking Authority, for the use of property which it controls, as necessary, as well
as the manager of Bayfront Park Auditorium for its use and appropriate state and
federal authorities for use of public rights of way not owned by the City, and
further agrees to provide not less than a six-foot wide area pedestrian access
along all public sidewalks adjoining private businesses included within the
boundaries of the racing circuit.
2. Should any changes be required in either racing circuit, Licensee shall
present such changes to City Manager for approval. In addition, should Licensee
require any design changes in required improvements, such changes shall be presented
to the Director of Public Works for approval.
3. The parties intend that this document shall be a license and privilege
and that no leasehold or other interest in land is conferred upon the user.
4. The Licensee agrees it shall be solely responsible for the staging of
the automobile race on city -owned property and public rights of way and shall
obtain all necessary clearances, permits, and permissions and shall bear all cost
incurred in obtaining said authorizations.
5. The City will not authorize automobile racing events along these same
racing circuits for a period of sixty (60) days before and sixty (60) days after
the holding of each of these events.
6. This license shall authorize the Licensee to operate, or give other
concessionaires license to operate all concessioning except as herein provided,
merchandising articles which shall include but not be limited to food, beverages
(including beer and wine), subject to applicable law, and souvenirs. The City
further understands and agrees that the Licensee will have the privilege to obtain
television broadcasting rights for the racing events contemplated by this agreement.
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1. This concession privilege shall include the period of time during
the set-up prior to the motor car race and the dismantle time immediately
following the race event.
2. It is understood and agreed that the authorization hereinabove set
forth shall be for the week immediately preceding the motor car races herein
provided, which shall be that period of time from the Monday preceding the day
of the motor car race through the day said motor car race is staged.
3. The Licensee recognizes that there is in full force and effect a con-
cession agreement with Tom Baccio for a push cart operation selling hot dogs
and cokes in Bayfront Park. It is understood and agreed that the concession
rights granted hereunder are not intended to be exclusive in favor of the
Licensee (with regard to Mr. Baccio's operation), but that the concessionaire
currently having concession rights granted by the City is to be allowed to sell
his goods during the motor car race event along with the Licensee.
4. It is agreed that the City take into account these racing events as
part of the deliberative process when considering plans for development within
the racing circuits. It is further agreed that Licensee recognizes the existing
leases between the City and Restaurant Associates for Reflections and New World
Harinas, Inc. for.Hiamarina, and will provide access to clients of both facilities
at all times during this event.
5. The term of this agreement shall be for an initial period of five (5)
years, ( the "i ni ti al term") . It sha 11 conmience upon the signing of this agreement.
The Licenseo shall have the option of extending the term of this agreement in two
(2) additional increments of five (5) years.each (the "extension periods") up to
a total of fifteen (15) years. If Licensee elects to extend the term of this
agreement for the first 5-year extension period, Licensee shall give City written
notice of its intention to exercise its option at least one hundred eighty (180)
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days prior to the expiration of the initial term of this agreement, and if
Licensee elects to extend the term of this agreement for the second 5-year
extension period, Licensee shall give City written notice of its intention
at least one hundred eighty (160) days prior to the expiration of the first
5-year extension period.
1. As consideration for the staging of the race event, the Licensee
does hereby covenant and agree to pay to the City a percentage of the
net profits derived from said event as specified below:
From $-0- to $1,000,000 - 10% of net profit
From $1,000,000 to $1,500,000 - 12.5`) of net profit
From $1,500,000 - 15% of net profit
2. The City's percentage of net profits as described above shall increase
in all categories of the percentages in this license in the sixth (6th) year
of this license and each year thereafter through the tenth (loth) year in the
amount of two percent (20/0) per year. From the eleventh (11th) year through the
fifteenth (15th) year of this license, the City's percentage levels of net
profit shall remain constant, (See Exhibit "D".)
3. The Licensee shall deliver on or before one hundred twenty (120) days
following the event at the office of the Department of Finance of the City, or
at such other place as may be designated thereafter by the City Manager the amount
of the consideration payable to the City attributable to the "net profit" derived
by the Licensee from all income, charges, sales, receipts, commissions paid to
or received by the Licensee or ticket sellers, including but not limited to,
income from ticket sales, media income, sponsorships, exclusives, advertising,
concessions, contributions, program sales and special events. Along with said
payment, the Licensee shall provide a statement in certificate form signed by a
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Certified Public Accountant setting forth the amount of gross receipts and opera-
tional cost and expenses which shall include all debts, obligations, cost, and
expenses incurred by the Licensee in preparation for and staging of the racing
event. Specifically excluded from any operating cost or expenses shall be any
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payment to stockholders, officers, or principals of the Licensee for any direct
or indirect participation in enterprises in connection with the racing event.
1. The approved operational expenses which shall be deducted from gross
receipts are depicted in Exhibit "C". The gross receipts of the racing event minus
the approved operational expenses shall be the net profit. Any additional expenses
not outlined in Exhibit "C" must be approved by the City Manager. Operational
expenses in the categories listed in Exhibit "C" are acceptable race expenditures.
Specifically excluded from operating costs shall be corporate taxes.
2. A complete budget, including operational expenses, shall be sutmitted to
and approved by the City Manager no later than one hundred twenty (120) days before
the scheduled race date yearly.
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3. Should the Licensee fail ,to make payment of the consideration due the City
f within one hundred twenty (120) clays following the event, a late payment charge of
205o' of the amount due the City will be assessed to the Licensee.
4. Licensee shall provide the City Manager with a copy of the Articles of
Incorporation for Miami MotorSports, Inc. before signing this agreement.
5. Licensee shall, at its sole cost and expense, apply for all necessary _
national and international sanctions to allow each annual event to be qualified
as an I14SA or other automobile race. Copies of such sanctions shall be forwarded
to the City Manager upon receipt by Licensee, but no later than one hundred twenty
(120) days before the scheduled date of the race.
6. No later than sixty (60) days prior to the staging of the International
MotorSports Association race, which is to be held on February 27, 1983, or such
other date as the parties may agree upon, Licensee shall demonstrate sufficient
capability to finance the installation of the requisite street improvements and
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safety devices. Such demonstration of financial capability shall be in a form
•acceptable to the City Manager. Thereafter, no later than -sixty (60) days prior
to the staging of each race, Licensee shall submit to the City a financial state-
ment certified by an independent Certified Public Accountant, which reflects
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sufficient working capital to stage the forthcoming race. In the event that the
Licensee fails to comply with the provisions of this paragraph, City shall have
the right to terminate this agreement.
1. The Licensee agrees to design, construct, or cause to be constructed,
and install all necessary street improvements and safety devices in accordance
with the plans approved by the national and/or international sanctioning bodies,
which may be necessary to create a racing circuit, together with any and all
supporting facilities. Such supporting facilities include, but are not limited
to, those required for medical, sanitation or other services the City may deem
appropriate for event of similar type. Bathroom facilities will be provided in
accord with IMSA or other sanctioning body standards. -
2. Licensee agrees to post a performance bond or other security with the
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City to cover the anticipated cost of all street improvements or alterations,
tree relocations, curb cuts, and median alterations, as well as cost of removing
concrete barriers and fencing. Amount of said bond or security will be determined
by Director of Department of Public Works and City Attorney's office shall approve
as to form.
3. All construction performed under this agreement shall be in accordance
with all applicable laws and regulations applying thereto.
4. The City agrees to assist in obtaining necessary permits and authori-
zations from applicable government agencies to close affected streets, redo medians,
and construct pedestrian overpasses as necessary for the staging of this event.
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1. In the event that it is necessary to obtain permission from the Corps
jf of Engineers for the use of that portion of Bayfront Park -under their control, the
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City shall cooperate with the Licensee in obtaining this approval. In the event
!1" that the Corps of Engineers or other county, state and federal agencies fail to
give the necessary permits to conduct the race, the City shall not be liable for
any costs or liabilities incurred by the Licensee or for failing to obtain such
permi is .
1 2. Upon the expiration of the term of this agreement or any extension
thereof, the improvements, devices and facilities constructed by Licensee, which
are permanently affixed to public property or which shall create a hazardous
condition of said public property by their removal, shall become the property of
the City without compensation therefore, if the City so elects. All other devices
must be removed by Licensee upon the expiration of the term, or any extension
thereof, of this agreement or upon the earlier termination thereof.
3. Should such devices as the safety barriers not be removed in a timely
fashion, the City has the right to conduct such activity and bill Licensee for
same.
4. Licensee agrees to provide for all expenses incurred by the City in —
providing emergency, police, fire, sanitation, or other services, and to reim-
burse City for personnel, materials or supplies which are required in the staging
of the IMSA race and subsequent races,
5. No later than ninety (90) days prior to the staging of the IMSA or any
other race, the Licensee shall notify the City of exact fire, police, and sanita-
tion requirements for the staging of this race.
6. Licensee shall promptly remove all grandstands, bleachers, safety devices
and any other equipment and apparatus utilized with regard to any event to which
this agreement applies, such removal to be completed within the times set forth in
the schedule referred to on Pg. 9; par.l of this agreement. Licensee shall restore
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all City streets and facilities to the condition such streets and facilities were
in prior to the event. All equipment and apparatus under the control of the
Licensee and which may be required for subsequent events shall be stored at the
Licensee's sole cost and expense. At the expiration of the term of this agree-
ment, or the sooner termination hereof according to the provisions of this agree-
ment, the Licensee shall, to City's satisfaction, restore all premises to their
original condition, insofar as possible.
1. Licensee shall give City six (6) months prior written notice of the date
any race is to be staged. Such date must be approved by the City Manager.
Licensee shall give City at least sixty (60) days prior to the scheduled event,
a schedule showing the dates for installation and removal of grandstands,
bleachers, safety devices, and any other apparatus or equipment utilized in
connection with the event. Such schedule shall be subject to City's prior approval.
2. City will cooperate with Licensee in promoting the race in Miami through
its Convention Bureau and other appropriate departments or offices through their
normal operations.
3. Licensee agrees that in its operation and promotion of the said race,
that such prornotion and the operations of Licensee shall provide a quality of
service commensurate with and equal to an international event of comparable nature.
4. Licensee shall pay, prior to delinquency, all taxes, assessments and
other governmental charges that may be laid or levied upon its promotions and
operations under this agreement throughout the full term hereof.
5. Licensee and concessionaires shall at all times in the promotion of
the events contemplated under this agreement, and their operations in regard
thereto, enacted or promulgated by federal, state, city or other governmental
bodies or departments or officers thereof, including the City Charter, the
Municipal Code of the City, and directives of City's City Manager.
6. Under no circumstances will the City be liable for any expense
incurred by Licensee on behalf of this event.
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1. In the performance of this agreement Licensee and/or concessionaires
shall not discriminate against any employee or applicant for employment because
of sex, age, race, color, religion, ancestry or national origin. Licensee and/or
concessionaires will take affirmative action to insure that applicants are
employed and that employees are treated during employment, without regard to their
sex, age, race, color, religion, ancestry, or national origin. Such action shall
include, but not be limited to, the following: employment, upgrading, demotion
or transfer, recruitment or recruitment advertising, layoff or termination, rates
of pay or other forms of compensation.
2. City shall have the right at all reasonable times, so long as it does
not interfere with the operations of Licensee, to make whatever inspections City
deems reasonably necessary to determine if Licensee is complying with the terms
and conditions of this agreement. Licensee agrees to provide the City with rea-
sonable access to its operations for such inspection purposes.
3. Licensee shall maintain appropriate records pertaining to its business
operations with regard to staging the race events contemplated herein as may be
reasonably required by good accounting practices. City shall have the right at
all reasonable times to examine the books and records of Licensee, which shall be
maintained and kept by the Licensee. City's City Manager shall have the discretion
to require the installation of any additional accounting methods as he may deem
reasonably necessary.
4. Licensee shall obtain at its sole cost and expense, or cause to be
obtained, and maintain in full force and effect throughout the term hereof, all
necessary and required licenses, permits and authorizations to stage the races
contemplated herein.
5. It is contemplated by Licensee that there will be events, other than
the race events, staged by Licensee. Such other events are to be categorized as
a race -support event or a race -associated event. It is agreed that a race -support
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k, event is an event which is required in order to stage the motor car races contem-
plated herein, and is an event without which such motor car.race cannot be held
i,
or the holding of such motor car race is substantially impaired. It is agreed
that a race -associated event is an event which is held during the week preceding
the motor car race, whether the IMSA race or other race event, and which event
is not required in order to stage such motor car races.
1. Licensee shall give City written notice of at least six (6) months prior
to the time the FEC park property, Bayfront Auditorium, and Bayfront Park facili-
ties are required by Licensee for either race -supported events or race -associated
events.
2. Licensee shall indemnify, hold harmless, save and defend the City, its
officers and employees from and against any and all claims, liens, liability, loss
or damage, including but not limited to cost, expenses and attorney's fees caused
by the actual or claimed negligence (active or passive) of Licensee, its agents,
employees, contractors, concessionaires or licensees, or either of them, either
as a sole or contributory cause, for loss of, use of, injury to or destruction of
any property and/or bodily or personal or other injuries, including death, at any
time resulting therefrom, sustained by any person or persons, including officers
and employees of the City, or in any manner attributable to any and all actions,
representations, or performance of the provisions of this agreement.
3. Licensee shall further indemnify, hold harmless, save and defend the
City, its officers and employees from and against any and all claims, liens,
liability, loss or damage, including but not limited to cost, expenses and attorney's
fees arising out of the City's statutory obligations pertaining to defective con-
ditions in the race circuit and appurtenances thereto, including obligations under
the Florida statutes relating to dangerous condition of public property. The
foregoing shall not apply to claims or actions for injuries, or damage or loss
caused by the sole active negligence of the City, its officers or employees, agents
or contractors.
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1. Licensee shall obtain and keep in force at all times during the staging
of the IM SA race and subsequent races a policy of public liability and property
damage insurance, protecting City, its officers and employees, against any and
all liability due to the death, injury, loss or damage to persons or property
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arising out of, or in any way incident to Licensee's operations.
2. Licensee agrees to provide a liability policy in comprehensive form in
the amount of not less than twenty million dollars ($20,000,000.00) combined
single limits for bodily injury and property damage. Additionally, the insured
must provide products and complete operators coverage and must make the City an
additional named insured under the policy.
3. A certificate evidencing such insurance coverage as is provided for
herein shall be filed with the City's Insurance Manager prior to the commence-
ment of performance under this agreement, and such certificate shall provide
that such insurance coverage will not be cancelled without at least thirty (30)
days' prior written notice to City. At least thirty (30) days prior to the
expiration of any such policy, a certificate showing that such insurance
coverage has been renewed shall be filed with the City's Insurance Manager.
4. The procuring of the insurance coverage as provided for herein shall —
not be construed to be a limitation in any respect upon Licensee's other
obligations under this license.
5. City reserves the right to review the sufficiency of the insurance
policy, as required by this lisencee, and to request Licensee to change the
insurance coverage to be provided in any policy of insurance as provided for
herein. Licensee shall, upon receipt of such request, increase the limits of
such insurance to any amount satisfactory to City. Such amount shall be
commensurate with other events of this nature.
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1. Licensee agrees to insure that the event is conducted without
interference with business and individual activity in and about the areas where
the said event is staged.
2. Licensee shall not assign this agreement, or any part thereof, without
first obtaining the written consent of City's City Manager. The approval or consent
of the City Manager shall not be unreasonably withheld. Any assignment of this
` agreement contrary to the foregoing provision, whether voluntary or involuntary,
shall be void and shall confer no right upon said assignee, and the same shall
result in an immediate forfeiture of the rights of Licensee hereunder.
3. Any waiver by either party of any breach by either party of any one or
more of the covenants, conditions or provisions of this agreement shall not be
construed to be a waiver of any subsequent or other breach of the same or any
covenant, condition or provision of this agreement, nor shall any failure on the
part of the City to require or exact full and complete compliance by Licensee
with any of the covenants, conditions or provisions of this agreement be construed
as in any manner changing the terms hereof or to prevent the City from enforcing
full provisions hereof, nor shall the terms of this agreement be changed or
altered in any manner whatsoever other than by written agreement of the City and
Licensee.
4. If Licensee at any time during the term of this agreement, or any
extension thereof, should be in default in any term, provision or covenant of
this agreement, and shall fail to remedy such default within thirty (30) days
after written notice from City, then, if such default is not cured, City may, at
its option, terminate this agreement by giving Licensee written notice of City's
election to terminate this agreement at least fifteen (15) days prior to said
date of termination.
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h 1. Any and all notices to be given to Licensee under this agreement or
' required by law to be served upon the Licensee may be giviM or served by certi-
fied or registered letter addressed to the Licensee at the address hereinbefore
set forth, deposited in the U.S. mail with postage prepaid. Any notice or
notices to be given to the City under this agreement or required by law to be
served upon the City may be given or served by certified or registered letter
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addressed to the City's City Manager at the City Hall, 3500 Pan American (rive,
' Miami, Florida 33133, deposited in the U.S. mail with postage prepaid. Any
notice served by means of the LIS. mail shall be effective from the date of
mailing said notice.
2. In the event that any portions of this agreement shall be held to be
invalid for any reason, such invalidity shall not affect the remaining portions
of this agreement and the same shall remain in full force and effect.
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IN WITNESS WHEREOF, the parties hereto have caused these present to
r be executed with all the formalities required by law on the respective dates
set forth opposite their signatures.
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MIAMI MOTORSPORTS, INC.,
a corporation
,1982 By
President
,1982 By
Secretary
Corporate Seal
CITY OF MIAMI, FLORIDA,
a municipal corporation
,1982 By
City Manager
Attested:
,1982 By
Ci ty Clerk
APPROVED AS TO FORM AND CORRECTNESS:
,1982 By
City Attorney
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EXHIBIT "C"
Office Rent
Utilities
Office Equipment
Office Supplies
Employees' Salaries
Insurance
Travel (business related)
Relocation of Trees
Landscaping Repairs
Street & Median Improvements/Repairs
Marketing & Promotion, Public Relations
Sanctioning Fees
Chainlink Fences
Plywood/Masonite Boards
Bridges
Concrete Barriers
Sanitation
Police/Security
Fire
Clean-up
Bleachers
Misc. Booths, Tents, Etc.
Misc. Employees, Track Preparation
Race Day, etc.
Sound System
Attorney's Fees (Limited to $5,000 unless
related to lawsuits resul-
ting from race activities)
Accounting Fees
Engineering Fees
Surveyor's Fees
Aerial Photos
Taxes
Commissions (sponsors, ticket sales)
Guest Appearances
Fees for Bayfront Auditorium,
Department of Off -Street Parking
Communications System
Trailer Rentals
Printing
Flags & Decorations
Track Preparation, Signs, etc.
Ambulances, Paramedics, Doctor, Nurses
Race Workers
Race Purse, Prizes
All expenditures must be directly race -related or they will be disallowed.
All deductible operating expenses must be approved as a part of the
budget by the City Manager.
0,$2-37�
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7
!! Year
1 through 5
s;
.r
i
6
i
7
E
4
10
11 through 15
V-
EXHIBIT "D"
I of Net Profit to Cit
From
$-0- to $1,000,000
10;�
of net
profit
From
$1,000,000 to $1,500,000
12.5%
of net profit
From
$1,500,000
15°0
of net
profit
From
$-0- to $1,000,000
12%
of net
profit
From
$1,000,000 to $1,500,000
14.5%
of net profit
From
$1,500,000
17°0
of net
profit _
From
$-0- to $1,000,000
14%
of net
profit
From
$1,000,000 to $1,500,000
16.5°."
of net profit
From
51,500,000
19%
of net
profit
From
$-0- to $1,000,000
16%
of net
profit
From
$1,000,000 to $1,500,000
18.5%
of net profit
From
$1,500,000
21"
of net
profit
From
$-0- to $1,000,000
18%
of net
profit
From
$1,000,000 to $1,500,000
20.5%
of net profit
From
$1,500,000
23`,
of net
profit
From
$-0- to $1,000,000
20%
of net
profit
From
$1,000,000 to $1,500,000
22.511Q of net profit
From
$1,500,000
25;,
of net
profit
From
$-0- to $1,000,000
20'
of net
profit
From
$1,000,000 to $1,500,000
22.5" of net profit
From
$1,500,000
25%
of net
profit
r-82 -3'73