HomeMy WebLinkAboutprevious agreementAGREEMENT GOVERNING GRANT
FOR CONSTRUCTION OF PLAY SCULPTURES
IN BAYFRONT PARK
This Agreement dated as of the 17 day of
1905, between Mr. & Mrs. Lee ]fills ("Benefactors") and the City
of Miami ("City").
the
WITNESSETH:I
WHEREAS, the City is committed to the redevelopment of
Bayfront Park in accordance with the design plans which were
prepared by Isamu Noguchi, aid aclopted.and approved by the City;
and
WHEREAS, it is contemplated that the redevelopment
improvements described in the Plans will be constructed in four
phases, (1) Baywalk and Pepper Fountain; (2) Amphitheatre,
Backstage Building, Amphiwalk, Tower of Light, Rock Garden, and
general park improvements north of the Promenade; (3) Promenade,
Chopin Plaza Court, and general park improvements west of
Baywalk, and (4) Play Sculptures, and the completion of these
phases depends upon funding availability; and
WHEREAS, the funding of a substantial part of the
budget for the redeveloprnent•Iimprovements has been accomplished
by the City, and constructio» of certain improvements is under
way; and
WHEREAS, the City is seeking a donor for the
construction of seven Play Sculptures which are described in the
site plan attached Hereto as Exhibit 1 (the "Plans") and in
construction drawings ("Drawings") attached hereto as Exhibit 2
and a preliminary construction cost estimate ("Budget") prepared
by Shoji Sadao (the "Architect") attached hereto as Exhibit 3;
and
WHEREAS, the Benefactors have indicated an interest in
making a yrant
payment oZ the
subject to the
follows:
of funds to the City
cost of constructing
terms and conditions
NOW THEREFORE, the parties
of Miami to be utilized for
the seven Play Sculptures,
prescribed herein.
hereto covenant and agree as
1. The Benefactors confirm their commitment to make a
grant in the total sum of $110,000.00 to the City of Miami for
This estimate may be modified by mutual agreement of the City and
the Architect.
7. In order for the Agreement to be binding upon both
parties, the City must have executed this Agreement prior to
December 27, 1985, and the Benefactors must have made full
payment by December 31, 1985.
8. It is a condition of this grant that the City shall
have completed the construction of the seven Play Sculptures
prior to January 31, 1989.
9. The Benefactors will contribute $110,000 to a bank
escrow account established by the City and the City agrees to
keep such grant plus interest earned on such amount in the escrow
account until the conditions contained in this Agreement are
satisfied. The City, upon satisfaction of these conditions,
shall present a sworn affidavit to the escrow agent stating that
such conditions have been met and shall send a copy of the same
to the Benefactors. The City shall then use the grant plus
interest for the construction, installation and maintenance of
the seven Play Sculptures.
10. If the City does not satisfy any material condition
of this Agreement, including not having completed the
construction of the Play Sculptures prior to January 31, 1989,
the escrow agent shall forthwith transfer the Benefactors'
contribution ($110,000.00) plus any accrued interest to the Dade
Foundation to be held and used by the Dade Foundation through its
tee and Tina Hills Fund.
IN WITNESS WHEREOF, the Benefactors and the City have
caused this Agreement to be duly executed as of the date first
above written.
BENEFACTORS
Lee
Tina Hills
t TTE 'Fa%,[
MATT HIRAI, City Clerk
5902K
i
! i
the purpose of funding the c�onstruct4on of the seven Play
Sculptures in accordance with the Plans,
Drawings, and Budget for
such
project.
2. The City shall install a bronze plaque or plague of
similar quality at or on each of the seven Play Sculptures. Each
plague shall have the inscription, described on Exhibit 4
attached hereto. Each plaque shall be installed immediately
following the completion of construction of each Play Sculpture.
3. The Benefactors shall be held harmless from any and
all physical injuries and/oil liabilities that may arise from the
Play Sculptures, including their construction, installation or
use.
4. The City agrees that should there be any cost
overruns for whatever reason in the construction and installation
of the seven Play Sculptures above the amount donated by the
Benefactors ($110,000.00), the City shall be responsible for
identifying and securing such additional funds in order to
complete the seven Play Sculptures in a timely fashion and
according to the Plans and Drawings.
5. The City agrees to appropriately display the Play
Sculptures in Bayfront Park as set forth in the Plans for as long
as practicable and to maintain as long as practicable the
original integrity of the Play Sculptures including the provision
of appropriate lighting, reasonable repair and maintenance, parts
replacement and painting. The City shall construct the seven
Play Sculptures in accordance with the Drawings (including such
modifications as are mutually agreeable by the City and Architect)
and shall use safe and durable materials in the construction of
the seven Play Sculptures as set forth in the Drawings.
6. The Benefactors contribution to construct the seven
Play Sculptures shall only be expended for this
purpose after the
earlier of: (1) each of the first three separate phases of the
park reconstruction has been substantially completed, or (ii) the
i
City has secured all of the funds necessary to complete each of
the first two phases and fifty50
( ) percent of the funds necessary
to complete the third phase. The present cost estimate for the
construction of the third phase is $3,523,468, Exhibit 5 attached.
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