HomeMy WebLinkAboutAmendment 2EXHIBIT 1
AMENDMENT # 2
TO THE AGREEMENT
BETWEEN
THE CITY OF MIAMI AND
SARMIENTO ADVERTISING GROUP, L.L.C.
FOR
BUS BENCH DESIGN, INSTALLATION AND MAINTENANCE
ARTICLE 1
DEFINITIONS AND IDENTIFICATIONS
1.1 Advertising Bus Bench - shall mean a bus bench with an Illuminated
Panel associated 10 it.
1.5 City Plasma Panel - shall mean one or more up to five freestanding
plasma panels to be installed exclusively for CITY use.
• 1.16 Percentage Revenue Payment — Shall mean an additional quarterly
payment to the CITY equal to ten percent (10%) of Net Revenue for the quarter minus
the Quarterly Guaranteed Payment. Provided, however, that solely for the purpose of
calculating the Percentage Revenue Payment in years four (4) and five (5), the Percentage
Revenue Payment shall be calculated using a Quarterly Guaranteed Payment based on a
guaranteed minimum yearly rate per bench of $1200,00, even though the Quarterly
Guaranteed Payments actually paid to CITY in years four (4) and five (5) are based on a
rate of $ 800.00 and $1000.00 respectively.
8.9 Cash Deposit. Perfomance Bond or Letter of Credit: For the period from
April 18, 2002 trough May 14, 2003 the CONTRATTOR shall immediately deposit with
the CITY cash in the amount of One Hundred Thousand Dollars ($ 100,000.00). On
May 15, 2003 CONTRACTOR shall provide, pay for, and maintain in force at all times
during the life of this Agreement, in a form acceptable to he CITY, 'a performance
bond or letter of credit in the amount of Two -Hundred, and Fty Thousand Dollars
($250,000.00). Upon City's receipt of a bond or letter or letter of credit acceptable to
the City, the One Hundred Thousand Dollars ($ 100,000.00) cash deposit shall be
returned to the CONTRACTOR.
Such bond shalt cover the proper construction and maintenance of the Bus Benches
and City Panels and their removal and restoration of the public rights-ofway, if such
is required by the CITY
AGREEMENT BETWEEN THE CITY OF MIAMI
AND SARMIENTO ADVERTISING GROUP, L.L.C.
FOR DVS BENCH DESIGN, INSTALLATION AND MAINTENANCE
EXHIBIT "A"
SCOPE OF SERVICES
This Exhibit "A" supplements the Agreement between Sarmiento Advertising
Group, L.L.C, ("CONTRACTOR") and the City of Miami, Florida ("CITY").
I. INSTALLATION OF BUS BENCHES AND ILLUMINATED
PANELS
1.11 CONTRACTOR, at its sole expense, shall obtain all permits, and licenses,
and pay all applicable fees. CONTRACTOR shall be solely responsible for payment of
all taxes, fees or surcharges imposed by any governmental body, other than a direct tax
on Bus Benches first imposed after the execution of this Agreement by the CITY, arising
from CONTRACTOR'S performance of this Agreement. The foregoing notwithstand__ing
nothing in this Agreement shall preclude the CITY from receiving a portion of any. taxes
`r f oes imposed upon CONTRACTOR by an entityother than the CITY., The City will
waive the fees that could apply to the CONTRACTOR.
AGREEMENT BETWEEN THE CITY OF MIAMI
'AND SARMIENTO ADVERTISING GROUP, L.L.C.
FOR BUS BENCH DESIGN, INSTALLATION AND MAINTENANCE
EXHIBIT "B"
YEARLY GUARANTEED MINIMUM
PAYMENT PER BUS BENCH
Year Paynjeni Per Bus Heinh
1 $ 600.00
2 $ 600.00
3 $ . 800.00
4 $ 800.00
5 $1, 000.00
6 $1, 000.00
7 $1,200.00
8 $1,200.00
9 $1,500.00
10 $1,500.00
11 $1,500.00
12 $1,500.00
13 $1,500.00
14 $1,500.00
15 $I,S00.00
Mau 05 03 10:52a Sarmiento Advertising .3053778756 p.1
3--03-371
4/10/03
RESOLUTION NO. 03- 364
A RESOLUTION OF THE MIAMI CITY COMMISSION
AUTHORIZING THE CITY MANAGER TO EXECUTE.
AMENDMENT NO. 3, IN SUBSTANTIALLY' THE
ATTACHED FORM, TO AN AGREEMENT WITH SARMIENTO
ADVERTISING GROUP, L.L.C. TO (I) LOWER THE
NUMBER OF ADVERTISING BENCHES FOR WHICH THE
CITY OF, MIAMI WILL RECEIVE PAYMENT FROM 900
TO 450, (2) REDUCE THE MINIMUM GUARANTEED
PAYMENT PER BENCH, (3) ELIMINATE THE
REQUIREMENT THAT SARMIENTO PAY A PERCENTAGE
OF GROSS REVENUES TO THE CITY, AND (4) ALTER
THE RATE AT WHICH BUS BENCHES MUST BE
INSTALLED.
SE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The City Manager is authorized3' to execute
Amendment No. 3, in substantially the attached form, to an
Agreement with Sarmiento Advertising Group, L.L.C. to (1) lower
the number of advertising benches for which the City of Miami
will receive payment from 900 to 450, (21 reduce the minimum
guaranteed payment per bench, (3) eliminate the requirement that
Sarmiento pay a percentage of gross revenues to the City, and (4)
alter the rate at which bus benches moist be installed.
The herein authorization is further subject' to compliance with all
requirements that may be imposed by the City Attorney, including
but not limited to those prescribed by applicable City Charter and
Code provisions.
CITY COMMISSION
MEETTSCI OF
APR 1 0 2003
03- 354'
Matt OS 03 10:53a Sarmiento Advertising
305377875E p.2
Section 2. This Resolution . shall become effective
immediately upon its adoption and signature of the Mayot.=V
PASSED AND ADOPTED this loth day of April , 2003.
ATTEST:
y;
/.444id
CILLA A. THOMPSON
CLERK
APPROVED
DRO VI RELLO
ATTORNEY
W71'T 1 : JHV: DSS
CORRECTNESS : '
If the Mayor does not sign this Resolution, it shall become
effective at the end of ten calendar days from the date it was
passed and adopted. If the Mayor vetoes this Resolution, it shall
become effective immediately upon override of the veto by the
City Commission.
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