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HomeMy WebLinkAboutR-2001-121 Kiwanis Park Expansion / Big League Dreams / Sports ComplexRESOLUTION NO. R-2001- 121 A RESOLUTION authorizing and directing the City Manager of the City of Yakima to execute a lease agreement with Big League Dreams Yakima, LLC for the Yakima Sports Complex. WHEREAS, many leaders of the City of Yakima (the "City") and the greater Yakima community believe that development of a publicly -owned Sports Complex including without limitation baseball, softball, indoor hockey and indoor soccer facilities such as those designed according to plans, and specifications available from Big League Dreams USA, LLC, of Mira Loma, California, ("Big League Dreams") would be a community asset. A Sports Complex at Kiwanis Park would provide the City and the greater Yakima community with a unique tool to re-establish Yakima's historic image as the sports capital of the Pacific Northwest and a significant vehicle for enhancing economic development and tourism; and WHEREAS, Big League Dreams is experienced in designing, managing, and operating sports complexes (including baseball, softball, volley ball, inline hockey and soccer facilities) in Cathedral City and Jurupa, Riverside County, California; and WHEREAS, three major local service organizations, namely Kiwanis, Rotary, and Lions, have already invested substantial time, energy, and money to acquire necessary property adjacent to Kiwanis Park, and to introduce the possibility of a Sports Complex such as those designed and operated by Big League Dreams to leaders of the City of Yakima and the greater Yakima community; and WHEREAS, to encourage the possibility of development of a Big League Dreams Sports Complex in Yakima, the Kiwanis, Rotary, and Lions service (Ik)res/BLD 8-01.pm organizations have already donated to the City of Yakima a substantial number of the properties they acquired adjacent to Kiwanis Park; and WHEREAS, subject to voter approval of a 1% utility tax rate increase at the September 18, 2001 election, the City desires to construct a Sports Complex and lease it to Big League Dreams; and WHEREAS, the City Council deems it to be in the best interest of the City of Yakima to enter into a Sports Complex Lease Agreement with Big League Dreams Yakima, LLC; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA: The City Manager of the City of Yakima is hereby authorized and directed to execute the attached and incorporated Sports Complex Lease with Big League Dreams Yakima, LLC. ADOPTED BY THE CITY COUNCIL this 21st day of August, 2001. ATTEST: City Clerk (Ik)res/BLD 8-01.pm ary Place, Mayor MENKE JACKSON BEYER ELOFSON & EHLIS, LLP Attorneys at Law ANTHONY F MENKE ROCKY L. JACKSON G SCOTT BEYER TO: 807 NORTH 39TH AVENUE• YAKIMA, WASHINGTON 98902 (509) 575-0313 • FAX. (509) 575-0351 City Council City Manager City of Yakima FROM: G. Scott Beyer DATE: August 16, 2001 RE: City of Yakima/Big League Dreams Lease Negotiations DAVID A. ELOFSON KIRK A. EHLIS I have been assisting the City in negotiating a Lease with Big League Dreams. You will be receiving a copy of what is hoped to be the final version of the Lease. This version has not been reviewed in its final form by Big League Dreams and may therefore be subject to what we hope will be minor modifications. In addition, there may be formatting and other non- material changes in the document. Although I will reference the License Agreement provisions regarding payment and refund of the License Fee, the License Agreement is not in final form. The following are significant items that have been negotiated with BLD: ♦ Payment of License Fee: The City will not be obligated to pay the $300,000 License Fee until all of the conditions precedent to construction of the Sports Complex have been satisfied. These conditions precedent are outlined in Section 3.2 of the Lease. ♦ Refund of License Fee: The License Fee will be paid within 30 days after all of the conditions precedent are satisfied, which is no later than July 1, 2002. BLD USA declined to agree to a provision for performance security other than to agree to provide in the License Agreement that it will repay the License Fee if the City terminates the Lease as a result of the Tenant's default or surrendering or abandonment of the Lease. This obligation on the part of BLD USA to repay the License Fee continues for three years after the License Fee is paid by the City. The remaining points reference the Sections of the Lease: ♦ 3.2 - Conditions Precedent: The Lease does not become finally effective until the utility tax measure is approved, all land use approvals are obtained, Plans and Specifications and a Budget are approved by the parties, and the City is able to issue bonds based upon bid prices received and accepted by the City for the entire project. ♦ 4.1(b) - Percentage Rent: The percentage rent is 10% of Gross Revenues beginning in the fourth full lease year. August 16, 2001 Page -2 • 4.2 - Gross Revenues: BLD has accepted the City's language for defining Gross Revenues as being the same as gross income of a business under Washington State law. A few items are not included in this definition which include revenues from such sources as video games or special events where the Tenant does not receive the revenue but is paid a rental fee. In these cases, the rental income would be a part of Gross Revenues. BLD points out that if it had to pay a percentage of the revenue from the actual video game sales or from ticket sales from special events, it would likely not be financially feasible to contract with video game providers or special event promoters. BLD further points out that if these contracts were not financially feasible, both BLD and the City would lose revenue from restaurant sales. • 7.2 - Business Name: BLD will likely operate under the name "Big League Dreams Yakima Sports Park," and has this option. • 8.3 — Landlord's Non -Competition: Nothing in the non -competition provision prevents the City from renting, licensing, or allowing the use of its parks or fields. In addition, it can fund youth tee -ball, coach -pitch, and player -pitch baseball or softball and can organize such youth baseball or softball if the Tenant does not do so. Youth means persons 12 or younger. • 9 - Landlord's Development of the Sports Complex: Sections 9.1, 9.4. and 9.5 address the City's ability to assure that the Plans and Specifications and Budgets are followed and that the maximum cost to the City does not exceed the maximum cost obligation. • 14 - Insurance and Indemnity: Your insurance brokers have played a significant role in crafting the language which deals with insurance. We have also added additional indemnification provisions for protection of the City. • 26.2 - Diversity of the Workforce: We have included this provision which is found in other agreements of the City which establishes as an aspirational goal, diversity in employment at the Sports Complex comparable to the ethnic composition of Yakima County. • 29.4 - Competing Business: BLD has agreed to a non -competition clause which bars it from establishing a similar park anywhere within the State of Washington for a period of 25 years. This provision is far more expansive than the leases negotiated in California. Based upon the negotiations with BLD, this Lease on the whole is more favorable to the interests of the City than any comparable lease signed by the California municipalities. SPORTS COMPLEX LEASE between the CITY OF YAKIMA and BIG LEAGUE DREAMS YAKIMA, LLC 8/16/2001 12:17 PM TABLE OF CONTENTS SECTION 1 - DEFINITIONS SECTION 2 - LEASE OF SPORTS COMPLEX SECTION 3 - TERM SECTION 4 - RENT 3 5 6 7 12 12 12 13 14 16 16 17 17 19 22 24 25 29 30 30 30 30 31 31 32 32 32 33 34 35 37 41 SECTION 5 - ADDITIONAL RENT SECTION 6 - TAXES SECTION 7 - USE SECTION 8 - COMPLIANCE SECTION 9 - LANDLORD'S DEVELOPMENT OF THE SPORTS COMPLEX SECTION 10 - UTILITIES AND SERVICES SECTION 11 - MAINTENANCE AND REPAIRS SECTION 12 - ALTERATIONS SECTION 13 - DESTRUCTION SECTION 14 - INSURANCE AND INDEMNITY SECTION 15 - CONDEMNATION SECTION 16 - ASSIGNMENT, SUBLETTING AND ENCUMBERING SECTION 17 - DEFAULT SECTION 18 - LANDLORD'S ENTRY ON SPORTS COMPLEX SECTION 19 - NOTICES SECTION 20 - ATTORNEYS' FEES SECTION 21 - LITIGATION CONCERNING VALIDITY OF THIS AGREEMENT SECTION 22 - ESTOPPEL CERTIFICATES SECTION 23 - SUBORDINATION SECTION 24 - SALE OR TRANSFER BY LANDLORD SECTION 25 - SURRENDER OF SPORTS COMPLEX SECTION 26 - FORM OF NONDISCRIMINATION AND NONSEGREGATION CLAUSES SECTION 27 - HOLDING OVER SECTION 28 - REPRESENTATIONS, WARRANTIES AND ACKNOWLEDGMENTS SECTION 29 - SPECIAL PROVISIONS SECTION 30 - HAZARDOUS MATERIALS SECTION 31 - MISCELLANEOUS EXHIBIT 1 EXHIBIT 2 EXHIBIT 3 EXHIBIT 4 EXHIBIT 7 42 43 44 47 8/16/2001 12:17 PM 2 THIS SPORTS COMPLEX LEASE (this "Agreement") is entered effective this day of , 2001, by and between the CITY OF YAKIMA, a Washington municipal corporation referred to in this Agreement as "Landlord", and BIG LEAGUE DREAMS YAKIMA, LLC, a California limited liability company, referred to in this Agreement as "Tenant". SECTION 1 - DEFINITIONS The following terms used in this Agreement shall have the meanings given unless expressly provided to the contrary: 1.1 Affiliate means Richard Odekirk, Jeffrey Odekirk, or any entity other than BLD USA in which Messrs. Odekirk and Odekirk, individually or collectively, or Tenant, owns at least a fifty percent (50%) capital or voting interest of the common stock, partnership units or limited liability company interests, as applicable. 1.2 Agreement means this Sports Complex Lease. 1.3 Annual Gross Revenues Statement is defined in Section 4.2(d). 1.4 Award, Condemnation, Condemnor and Date of Taking are defined in Section 15.1. 1.5 BLD USA means Big League Dreams USA, LLC, a California limited liability company. 1.6 BLD USA Allocations are defined in Section 4.2(b). 1.7 BLD USA Sponsorships are defined in Section 4.2(b). 1.8 Budget means an itemized budget setting forth the costs for the Project, including but not limited to, financing costs, site work, infrastructure improvements, construction, parking, buildings, maintenance, FF&E, planning costs, architect fees, engineer fees, permit fees, and applicable taxes. 1.9 City means the City of Yakima, an incorporated municipality within the County of Yakima, State of Washington. 1.10 City Days are defined in Section 29.1. 1.11 City Manager means the City Manager of the Landlord. 1.12 City Use Permit shall mean the use permit with respect to the Sports Complex to be approved by the City. 3 8/16/2001 12:17 PM 1.13 Controlling Percentage means the ownership of, or the right to vote, fifty-one percent (51 %) or more of the total combined voting shares, units or membership interests of a corporation, partnership or limited liability company, as applicable. 1.14 F'F&E shall mean all furniture, furnishings, trade fixtures, apparatus and equipment required for the operation and management of the Sports Complex. A list of the anticipated FF&E is attached as Exhibit 4 and incorporated herein by this reference. 1.15 Gross Revenues are defined in Section 4.2. 1.16 Hazardous Materials are defined in Section 30.2. 1.17 Indemnitees is defined in Section 14.6. 1.18 Land means the land depicted on Exhibit 1 and described legally on Exhibit 2 on which the Project shall be constructed and which is leased to Tenant by this Agreement. 1.19 Landlord means the City of Yakima, a municipal corporation, and its permitted successors and assigns. 1.20 Lease Year means the period from January 1 of each calendar year to December 31 of such calendar year (both dates inclusive) during the Term. If, however, the Term Commencement Date does not fall on a January 1, the first Lease Year shall be that period from the Term Commencement Date to the next following December 31, and if the Term does not end on a December 31, then the last Lease Year shall be the period commencing with the last preceding January 1 and ending at the end of the Term. The first Lease Year shall be considered a partial Lease Year for all purposes of this Agreement unless the Term Commencement Date falls on January 1 of the Lease Year during which the Term Commencement Date occurs. 1.21 Legal Challenge shall mean any action or other legal proceeding (including a challenge on environmental grounds) brought by any third party seeking to block construction of the Sports Complex or to contest the validity of this Agreement or of any Related Agreement. 1.22 Memorandum of Lease means that certain Memorandum of Lease executed approximately concurrently herewith and to be recorded pursuant to Section 31.16. 1.23 Percentage Rent is defined in Section 4.1. 1.24 Plans and Specifications means all concept drawings, preliminary drawings, landscaping and grading plans, site plans, engineering drawings, reports, final construction drawings and any other plans or specifications consistent with the Project Description and beneficial to or required for the construction of the Sports Complex. 1.25 Project means the development of the Sports Complex in accordance with the Project Description, the Plans and Specifications and this Agreement. 1.26 Project Description means the summary description of the Sports Complex described in the attached Exhibit 3. 4 8/16/2001 12:17 PM 1.27 Punch List is defined in Section 9.3. 1.28 Quarterly Gross Revenues Statement is defined in Section 4.2(d). 1.29 Related Agreements means any and all agreements executed by and between the City or any of its affiliates, on the one hand, and BLD USA or BLD Yakima and any of their affiliates, on the other, relating to the Sports Complex. 1.30 Renewal Terris and Renewal Term are defined in Section 3.4. 1.31 Rental Account is defined in Section 4.4. 1.32 Sports Complex means the Project, FF&E, Land, and all easements or rights of way necessary or desirable for access to the Land. 1.33 Statutes are defined in Section 8.1. 1.34 Taxes are defined in Section 6.2. 1.35 Tenant means Big League Dreams Yakima, LLC, a California limited liability company, its permitted successors and assigns. The members of Tenant are BLD USA, Richard Odekirk and Jeffrey Odekirk. 1.36 Term is defined in Section 3.1. 1.37 Term Commencement Date means the earliest date upon which (a) Tenant accepts in writing the Sports Complex, or (b) the City issues a Certificate of Occupancy for the Sports Complex, or (c) Tenant takes possession of the Sports Complex, and Tenant obtains all permits and licenses required to sell beer, wine and liquor at the Sports Complex; provided, however, that Tenant's obtaining such permits and licenses shall not be required for purposes of determining the Term Commencement Date if Tenant has failed to apply for such permits and licenses at least three (3) months prior to the expected date of substantial completion of the Sports Complex or has failed to use due diligence to pursue issuance of such permits and licenses. The Landlord shall advise the Tenant of the expected date of substantial completion at least five (5) months prior to such date. 1.38 Utility Tax Measure means the measure City voters shall be asked to approve on September 18, 2001 to increase utility taxes to pay for the cost of constructing the Sports Complex. SECTION 2 — LEASE OF SPORTS COMPLEX This Agreement shall be effective to bind the Landlord to lease the Sports Complex to Tenant and to bind Tenant to lease the Sports Complex from Landlord on the terms stated herein, upon this Agreement being duly executed by both parties. The lease of the Sports Complex and Tenant's right of possession shall not be effective until the Term Commencement Date and shall not take effect at all if the condition precedents in Section 3.2 are not satisfied. 5 8/16/2001 12:17 PM SECTION 3 — TERM 3.1 Lease Term. The lease term of this Agreement (the "Term") shall commence on the Term Commencement Date and shall end on the last day of the calendar month containing the day which is twenty-five (25) years after the Term Commencement Date, unless sooner terminated by Landlord or Tenant as otherwise provided for herein. Upon Landlord's request, Tenant will co-sign Landlord's written confirmation of lease commencement and termination dates. 3.2 Conditions Precedent. This lease shall in no event be effective until each of the following conditions precedent are satisfied: (a) Utility Tax Measure. Voter approval of the Utility Tax Measure, certified by the Yakima County, Washington, Auditor; and (b) Land Use Approvals. Landlord obtaining all land use and zoning permits and approvals reasonably necessary for the development of the Project, with no right of appeal; and (c) Approval of Plans and Specifications and Budget. Approval by Landlord and Tenant of the final Plans and Specifications and Budget for the Project and FF&E; and (d) Financing. Landlord issuing bonds at a rate per annum not to exceed 7.51 % for the Project and FF&E, based upon bid prices received and accepted by Landlord for the Project and FF&E. In the event voter approval of the Utility Tax Measure is not certified within the time required for certifying the election of September 18, 2001, this Agreement shall terminate effective as of the date following certification of the election, and the parties shall have no further obligation or liability one to the other thereafter, except as otherwise provided herein. In the event that the conditions precedent contained in Sections 3.2(b), 3.2(c) and 3.2 (d) are not satisfied on or before July 1, 2002, this Agreement shall terminate effective as of such date, and the parties shall have no further obligation or liability one to the other thereafter, except as otherwise provided herein. The Landlord shall use due diligence to satisfy the condition precedent contained in Section 3.2(b). The Landlord and Tenant shall each cooperate and use due diligence to timely review and approve the final Plans and Specifications and Budget for the Project and FF&E for the purpose of the Landlord advertising for bids. The Landlord shall have the sole discretion whether to reject all bids, readvertise for bids, or accept the bids received. The Landlord in its sole discretion may also waive the limitation on the rate of interest based upon bond market conditions and bid prices received. The dates for satisfaction of the conditions precedent may be extended by written agreement duly executed by Landlord and Tenant. 3.3 Minimum Percentage Rent. Landlord, in its sole discretion, shall have the right to terminate this Agreement and all further rights and obligations of the parties hereunder by giving written notice of such termination (which shall specify a date not less than ninety (90) days 6 8/16/2001 12:17 PM thereafter on which such termination shall become effective) to Tenant at any time during the first ninety (90) days of the eighth (8th), ninth (9th) or tenth (10) full Lease Years of this Agreement if, but only if, during the seventh (7`h), eighth (8th) or ninth (9th) full Lease Year of this Agreement, Tenant has paid to Landlord Percentage Rent as provided in Section 4 in an amount of less than $75,000. With respect to any such full Lease Year (7th through the 9th) Tenant may, at its option, pay Landlord additional Percentage Rent beyond what is required in Section 4 to meet the Percentage Rent payment requirement set forth in Section 4 and thereby avoid termination of this Agreement by Landlord. 3.4 Renewal Terms. If Tenant at the expiration of the Term of this Agreement is not in default in performing any of Tenant's obligations under this Agreement, meaning there are no defaults on the part of the Tenant with respect to which the notice and cure provisions of this Agreement have elapsed without a cure having been accomplished, Tenant shall have and is hereby granted the option to renew this Agreement for three (3) five (5) year Renewal Terms (the "Renewal Terms" or "Renewal Term") upon the same provisions, covenants, and conditions contained herein, each such five year Renewal Term to begin on the expiration of the Term of this Agreement or the prior Renewal Term, as applicable. Each option for a Renewal Term shall be exercised by Tenant's giving Landlord written notice thereof at least sixty (60) days but not more than one hundred twenty (120) days prior to the expiration of the Term of this Agreement or the prior Renewal Term, as applicable. SECTION 4 — RENT Tenant shall pay to Landlord Percentage Rent, without deduction, set-off, prior notice or demand, as follows: 4.1 Percentage Rent. (a) First Partial and First Three Full Lease Years. In the first partial Lease Year (if applicable) and in each of the first three full Lease Years, Tenant shall pay no Percentage Rent (defined below). (b) Fourth and Subsequent Full Lease Year Payments. Commencing with the first quarter of the fourth (4th) full Lease Year and continuing for each quarter of every subsequent Lease Year, Tenant shall pay to Landlord, at the times and in the manner specified in this Agreement, Percentage Rent for each Lease Year ("Percentage Rent"). Percentage Rent shall be calculated by multiplying Tenant's Gross Revenues (as defined in Section 4.2) from the Sports Complex for the applicable period by Ten percent (10 %). The Percentage Rent shall be paid quarterly, in arrears, within twenty (22) days following the end of each calendar quarter during the applicable Lease Year. 4.2 Gross Revenues. (a) Definition. "Gross Revenues" mean "gross income of the business" as that term is defined pursuant to Chapter 82.04 of the Revised Code of Washington and Washington Administrative Code regulations promulgated pursuant to such statutes, in effect as of the date of this Agreement, and as such statutes and regulations may be amended. In the 7 8/16/2001 1:02 PM event that such statutes or regulations are modified, amended or repealed, which results in items, categories, kinds and types of revenue or income previously included or to be included in Gross Revenues being exempted or excluded from Gross Revenue, Landlord and Tenant shall negotiate in good faith modifications to the definition of Gross Revenue, so that the Landlord is in a comparable financial position had such modifications, amendments or repeal of the statutes or regulations not occurred. "Business" for purposes of determining "gross income of the business" means all business activity of the Tenant, and of its permitted sub -tenants and of its assignees and concessionaires, franchisees, and licensees, on or about, arising from or related to the Sports Complex. Gross Revenues shall also include, but not be limited to, BLD Allocations as defined in Section 4.2 (b). Except with respect to BLD allocations as defined in Section 4.2(b), Gross Revenues shall not include any revenues arising from or related to the Sports Complex received by any non -Affiliate person or entity which (a) are not paid or required to be paid to Tenant and (b) derive from or arise out of tournaments; special events; corporate or group event catering or services; camps/clinics; video or other arcade games; or pay phone commissions. Tenant shall include within Gross Revenues, however, all rents or other payments received by it from such non -Affiliate persons or entities engaged in such activities, whether or not such rents or other payments fall within the statutory definition of "gross income of the business." Except to an Affiliate, Tenant shall not contract the collection of revenues from league or player fees; from field rentals; from gate admissions; or from batting cage use to any person or entity. Accordingly, all revenues received from such revenue sources shall be Gross Revenues. Tenant may, with the approval of Landlord, sublease the operation of the restaurant/concession stands. In the event it does so, however, revenues derived therefrom by such sub -lessee shall be considered Gross Revenues, but sublease payments to Tenant shall not. (b) BLD USA Allocations. BLD USA owns and organizes tournaments played and camps/clinics held at the various Big League Dreams Sports Parks; contracts with hotels to receive commissions on room nights reserved by participants in tournaments held at the various Big League Dreams Sport Parks; and sells sponsorships to entities interested in having a commercial identification with the various Big League Dreams Sports Parks, and shall have the right to do all of the foregoing with respect to the Sports Complex. Except as otherwise provided in the remainder of this subpart (b) with respect to revenues paid by BLD USA to Tenant (the "BLD USA Allocations"), revenues derived by BLD USA shall not be considered Gross Revenues. All other forms of Gross Revenues (including, specifically, revenues from all league and player registrations with respect to all sports played at the Sports Complex; batting cages; food and beverage; group business; special events; gate admissions; merchandising; arcade; and park tournaments) related to the Sports Complex are created solely by Tenant and all shall be included in Gross Revenues. As to BLD USA tournaments and camps/clinics, BLD USA shall pay to Tenant, and Tenant shall include in Gross Revenues, a field rental charge not less than the maximum field rental charge made by Tenant to any third party tournament organizer or camps/clinic operator during the applicable Lease Year. BLD USA shall pay to Tenant, and Tenant shall include in Gross Revenues, fifty percent (50%) of all hotel commissions received by BLD USA for room nights reserved by participants in tournaments held at the Sports Complex. "BLD Sponsorships" shall mean any agreement entered by BLD USA with any entity by which such entity is given the right to identify commercially with Big League Dreams Sports Parks as a sponsor, preferred company or other designation of similar import and where such commercial identification rights extend to more than one Big League Dreams Sports Park. BLD USA shall pay to Tenant, and Tenant shall include in Gross Revenues, fifty percent (50%) of the cash revenues received from such a BLD Sponsorship 8 8/16/2001 12:17 PM divided by the number of Big League Dreams Sports Parks to which the BLD Sponsorship applies. As to any advertising or sponsorship sales made by BLD USA or Tenant which do not constitute BLD Sponsorships, BLD USA shall pay to Tenant, and Tenant shall include in Gross Revenue, eighty percent (80%) of the cash revenues received from such a non -BLD Sponsorship. In the event, however, (A) any entity controlled by BLD USA enters a lease agreement for the construction and operation of a new Big League Dreams Sports Park, and (B) such lease shall contain BLD USA Gross Revenue allocation provisions which, taken as a whole, are more favorable to the new lessor than the BLD USA Gross Revenue allocation provisions set forth above, taken as a whole, are to Landlord, then this Agreement shall ipso facto be deemed amended to make such more favorable provisions, taken as a whole, applicable to Landlord under this Agreement from that time forward. BLD USA may form an entity of which it owns a Controlling Interest to operate and manage some or all of the revenue described in the first sentence of this Section 4.2(b). If it does so, revenues received by such an operating entity (which shall not be an Affiliate for these purposes) from such revenue shall be treated in the same manner as revenues received by BLD USA for purposes of determining Gross Revenues and BLD USA Allocations under this Section 4.2. (c) Sales Recording and Records Tenant shall record at the time of sale, in the presence of the customer, receipts from sales or other transactions, whether cash or credit, in a cash register or registers, or a point of sale terminal or terminals, having a tape that accumulates and consecutively numbers all transactions. A receipt from any transaction showing the correct amount of purchase shall be offered to the customer at the time of any transaction, including any cash sale. Transactions not ordinarily recorded in a cash register or point of sale terminal shall be noted on and kept in a ledger format. Tenant shall keep, and all sub -tenants, concessionaires, franchisees, contractors and licensees of Tenant shall keep, and, with five (5) days' advance written notice, make available, at the Sports Complex: (i) full and accurate books of account and records relating to the Gross Revenues, maintained in accordance with generally accepted accounting principles consistently applied, including, without limitation, a sales journal, general ledger and all bank account statements showing deposits of Gross Revenues; and (ii) all cash register or point of sale terminal receipts with regard to the Gross Revenues, credits, refunds and other pertinent transactions made from or on the Sports Complex (including the revenues of any sub -tenant, franchisee, contractor, licensee or concessionaire). Such books, receipts and records for each Lease Year shall be kept at the Sports Complex or at the headquarters of BLD USA for a period of seven (7) years after the end of each Lease Year, and shall be made available for inspection and audit by Landlord and Landlord's representatives at the Sports Complex on five (5) days' advance written notice. In addition, within thirty (30) days of the last day of each calendar quarter, Tenant shall furnish to Landlord copies of Tenant's state and local sales and use tax and business and occupation tax returns, and shall maintain copies of such records for each Lease Year for a period of seven (7) years after the end of each Lease Year. Tenant shall require all Tenant's sub -tenants, franchisees, contractors, licensees and concessionaires producing Gross Revenues to maintain the same records and copies of tax 9 8/16/2001 12:17 PM returns required of Tenant related to the Sports Complex for each Lease Year for a period of seven (7) years after the end of each Lease Year. (d) Quarterly and Annual Gross Revenues Statements. (i) Quarterly Gross Revenue Statement. Each payment of Percentage Rent shall be accompanied by a statement, to be certified as correct by an authorized officer of Tenant, that sets forth Tenant's Gross Revenue for the quarter just concluded ("Quarterly Gross Revenues Statement"). Quarters shall be calendar year quarters, ending on the last day of March, June, September and December. (ii) Annual Gross Revenue Statement. Within sixty (60) days following the end of each Lease Year, including the last Lease Year of the Term, Tenant shall furnish Landlord with a statement of Tenant's annual Gross Revenues on account of the previous Lease Year, or any partial Lease Year, including any deductions ("Annual Gross Revenues Statement"). Such Annual Gross Revenues Statement shall be certified as correct by an authorized officer of Tenant. (iii) Content. Each Quarterly Gross Revenues Statement and Annual Gross Revenues Statement shall set forth the total Gross Revenues for the preceding quarter or Lease Year, as applicable, and shall show the method of computing the Percentage Rent due for such quarter or Lease Year, as applicable. Each Annual Report shall include a performance report regarding the use of the Sports Complex, including but not limited to, numbers of tournaments, athletic participants, admissions and such other information as will demonstrate the level of activity at the Sports Complex. (e) Audit Rights. (i) Audit Procedures. The acceptance by Landlord of any monies paid to Landlord by Tenant as Percentage Rent for the Sports Complex as shown by any Annual or Quarterly Gross Revenues Statement furnished by Tenant shall not be an acceptance by Landlord of the accuracy of the statement, or of the sufficiency of the amount of Percentage Rent payments, but Landlord shall be entitled at any time and from time to time during the Term, until the date that is seven (7) years after the end of the Lease Year for which any of the Percentage Rent payments have been paid, to question the sufficiency of the amount paid and the accuracy of any and all statements furnished by Tenant to justify the amount Tenant shall pay as Percentage Rent, and to confirm and evaluate Tenant's statement of its Gross Revenues from the Sports Complex. At any time during the Term and within seven (7) years after the end of the Term, Landlord may cause an audit of Tenant's books and records relating to the calculation of Percentage Rent by an independent accountant of Landlord's own selection for any Lease Year. If any Annual Gross Revenues Statement for such Lease Year delivered by Tenant to Landlord is found to be less than the amount of Tenant's actual Gross Revenues for the period covered by the statement, Tenant shall immediately pay to Landlord any additional Percentage Rent shown to be payable by Tenant. If the audit reveals that the correct amount of Gross Revenues is more than five percent (5%) greater than the amount shown on the Annual Gross Revenues Statement previously delivered by Tenant for the period covered by such statement, Tenant shall immediately pay to Landlord the cost of the audit and any additional Percentage Rent shown to be payable by Tenant, together with a late charge on the amount of the underpayment of 10 8/16/2001 12:17 PM Percentage Rent at the rate specified in Section 17.3, plus additional rent equal to five percent (5%) of the Percentage Rent payable for such Lease Year; otherwise, the cost of this audit shall be paid by Landlord. If, ten (10) days after written request therefor specifying Tenant's failure to comply with the reporting obligations hereunder, Tenant fails to provide to Landlord any Quarterly Gross Revenues Statement or Annual Gross Revenues Statement in the manner specified in this Agreement, such failure shall constitute a default under this Agreement. In such an event, Landlord shall have the right, in addition to any other rights or remedies it may have under this Agreement, to conduct an audit to determine such revenues. Tenant shall immediately reimburse Landlord for the cost of such audit on written demand by Landlord. If at any time Tenant causes an audit of Tenant's business at the Sports Complex to be made by an independent accountant, Tenant shall furnish Landlord with a copy of the report of this audit at no cost to Landlord, within ten (10) days after Tenant's receipt of the audit report. (ii) Examination of Books. Tenant shall, for a period of seven (7) years following the delivery of each Annual Gross Revenues Statement, including the seven (7) year period following the end of the Term, keep and maintain, safe and intact, all of the records, books and accounts required under Section 4.2(c) and shall from time to time, upon request, make such records available to Landlord, Landlord's auditor, representative or agent for examination at any reasonable time during such period. Landlord shall also have the right to make abstracts from the records; to make copies of any or all of the records; to examine any or all contracts, leases, licenses and concession agreements; and to make copies of any or all contracts, leases, licenses or concession agreements. (iii) Assignees. Wherever Tenant's business or operations, or Tenant's Gross Revenues, or Tenant's records, books, accounts and other data are referred to in this Agreement, they shall be deemed to include, but only to the extent necessary to calculate or verify Gross Revenues, those of any assignee, sub -tenant, concessionaire, licensee, vending machine operator or other person, firm or corporation selling merchandise or services on or from the Sports Complex, provided that this subpart shall not be deemed to imply consent to the operations of any other person, firm, or corporation except in accordance with the provisions of Section 16. 4.3 Percentage Rent Due in Event of Default. If this Agreement is terminated by Landlord because of Tenant's default, and if Tenant becomes liable for rent by way of damages or otherwise, or if at any time during the Term, Tenant, in violation of Section 7, ceases to conduct in the Sports Complex the business described in Section 7, then from and after the time of the breach causing this termination, or from and after the time of the cessation of business, the Percentage Rent shall be deemed to be Ten percent (10 %) of that amount which is equal to the average of the Gross Revenues per year during the twenty-four (24) months preceding the termination or cessation of business, unless the termination or cessation occurs within three (3) years of the beginning of the Term, in which event the Percentage Rent shall be $200,000 per year. 4.4 Payment. All rent payable under this Agreement shall be made in legal currency of the United States. Tenant shall pay all rental amounts due under this Agreement by electronic funds -transfer to such account as shall be designated by Landlord from time to time. Such transfers shall be authorized in writing by Tenant and provide for payment from the Rental Account established by Tenant. "Rental Account" shall mean a bank deposit account which is 11 8/16/2001 12:17 PM fully insured with the Federal Deposit Insurance Corporation. An amount equal to the rent due each calendar quarter shall be deposited by Tenant in such account within twenty (22) days following the end of each calendar quarter and Landlord shall be authorized on and after such date to sweep such account for purpose of payment of the rent due Landlord. SECTION 5 — ADDITIONAL RENT All Taxes and other costs and expenses payable under this Agreement by Tenant and all damages, costs and expenses that Landlord incurs by reason of Tenant's default, shall be deemed additional rent. In the event of Tenant's nonpayment of additional rent, Landlord shall have all the same rights and remedies as Landlord has for the nonpayment of Percentage Rent. The term "rental" and "rent" as used in this Agreement shall mean Percentage Rent and such additional rent. SECTION 6 - TAXES 6.1 Covenant to Pay Taxes. As additional rent, Tenant shall, throughout the Term, commencing effective as of the Term Commencement Date, pay directly to the appropriate taxing authorities all Taxes (as defined in Section 6.2). All Taxes shall be paid before delinquency and before any fine, interest or penalty shall become due or be imposed by operation of law for their nonpayment. Tenant shall furnish to Landlord prior to the date when any Taxes would become delinquent receipts or other appropriate evidence establishing such payment. 6.2 Definition of Taxes. The term "Taxes" shall include all real property taxes, possessory interest taxes, personal property taxes, excise taxes, charges and assessments (including but not limited to leasehold excise taxes and street improvement liens) which are levied, assessed upon or imposed by any governmental authority or political subdivision thereof (other than the City or any political subdivision thereof) during or with respect to any portion of the Term hereof with respect to the Sports Complex and any improvements, fixtures, equipment or other property of Tenant, real or personal, located on the Land or used in connection with the operation of the Sports Complex, and any tax which shall be levied or assessed in addition to or in lieu of such real or personal property taxes, and any license fees and taxes measured by or imposed upon rents, or other taxes or charges upon Landlord's leasing of the Land or the receipt of rent hereunder. 6.3 Proration of Tenant's Tax Liability. Tenant's liability to pay Taxes shall be prorated on the basis of a 365 -day year to account for any fractional portion of a fiscal tax year included in the Term at its commencement or expiration. Any Taxes payable after the Term Commencement Date (but before the expiration of the Term) but applicable, in whole or in part, to periods prior to the Term Commencement Date, shall be paid by Tenant. Landlord shall, however, pay to Tenant its pro rata share of such Taxes liability for periods prior to the Term Commencement Date at least ten (10) days prior to the date such Taxes are due and payable. SECTION 7 — USE 7.1 Permitted Uses Tenant shall use and occupy the Sports Complex continuously during the Term for the purposes, among others reasonably related thereto, of offering sport and 12 8/16/2001 12:17 PM recreational play and instructional opportunities, group and special event activities and food and beverage, retail and other concessions at the Sports Complex as described in this Agreement and for no other purpose without exception. Use of a part of the Sports Complex for a game room, including video games, pool tables and similar entertainment equipment, shall be permitted; provided, however, that any form of gaming, lawful or otherwise, will not be permitted on the Sports Complex without the prior written consent of the Landlord. Subject to obtaining and maintaining required or appropriate licenses, permits or other approvals from the applicable governmental agencies having jurisdiction, Tenant may engage in the sale of beer, wine and liquor. Tenant shall not permit any obscene or indecent art forms, materials, images or exhibitions to be placed or maintained on the Sports Complex. 7.2 Business Name. During the Teim, and any Renewal Term, Tenant shall conduct business in the Sports Complex under the name "Big League Dreams Yakima Sports Complex" or "Big League Dreams Yakima Sports Park," as Tenant determines in its sole discretion, in the manner provided herein. 7.3 Permits. Tenant shall at all times during the Term obtain, keep and maintain all licenses and permits required by state and local governmental authorities necessary to operate the Sports Complex, and comply with each and every term of each such permit. 7.4 Security. Tenant shall at all times provide such security for the operation of the Sports Complex as shall reasonably be planned by Tenant to be prudent to protect the customers, employees, guests, contractors and other invitees of the Sports Complex, and the owners and occupants of neighboring properties, from the customers, employees, guests, contractors and other invitees of the Sports Complex. 7.5 Operation. Tenant shall operate Tenant's business from the Sports Complex with due diligence and efficiency. Tenant will operate the business at Tenant's own expense and at hours consistent with other similar businesses operated by Tenant; provided, however, that this provision shall not apply if the Sports Complex is closed due to inclement weather or Tenant's business is temporarily shut down due to casualty, condemnation, fire or other causes beyond the reasonable control of Tenant. Tenant shall at all times carry a commercially reasonable stock of merchandise and of food and beverages offered for sale at competitive prices, and shall maintain an adequate number of properly trained personnel for the efficient service of Tenant's customers, Sports Complex participants and the operation of the Sports Complex. Although Landlord has no ownership interest in Tenant's business, Landlord is concerned about maximizing Gross Revenues (and, consequently, the Percentage Rent), and Tenant hereby acknowledges that fact. SECTION 8 — COMPLIANCE 8.1 Tenant. Tenant shall, at Tenant's expense, comply promptly with all applicable statutes, ordinances, rules, regulations, orders, covenants, conditions and restrictions and requirements of any governmental authority in effect during the Term, regulating the use or operation by Tenant of the Sports Complex (collectively, the "Statutes") whether those Statutes are now in force or are subsequently enacted. Tenant shall keep and maintain in full force and effect, and in good standing, all permits and licenses required from state and local governmental authorities for operation of the Sports Complex. The suspension or termination of any permit or license for a period in excess of thirty (30) days shall be a material breach hereof, but shall first 13 8/16/2001 12:17 PM be subject to the right to cure as provided in Section 17.1. If any bureau, department or official of the state or county government or any other governmental authority (other than the City) having jurisdiction requires that any non-structural changes, modifications, replacements, alterations or additional equipment be made or supplied in or to any portion of the Sports Complex by reason of Tenant's use or operation thereof, Tenant shall, at Tenant's cost and expense, make and supply such non-structural changes, modifications, replacements, alterations or additional equipment. Tenant shall not use nor permit the use of the Sports Complex in any manner that will tend to create waste or a nuisance. The judgment of any court of competent jurisdiction, or the admission by Tenant in a proceeding brought against Tenant by any government entity, that Tenant has violated any Statute shall be conclusive as between Landlord and Tenant and shall constitute grounds, subject to the right to cure as provided in Section 17.1, for termination of this Agreement by Landlord. 8.2 Landlord. Landlord, and Landlord's contractors and agents, shall comply with all applicable Statutes of any governmental authority then in effect while developing the Project, including but not limited to public procurement laws as applicable. Landlord represents and warrants that, as of the Term Commencement Date, the Sports Complex will be in compliance with all applicable Statutes of any governmental authority then in effect related to the construction of the Project. In the event, during the Term, Landlord enacts or issues any new Statutes which would burden or restrict Tenant in the operation of the Sports Complex beyond restrictions contained in this Agreement or the City Use Permit, Landlord and Tenant shall negotiate in good faith modifications to the Percentage Rent formula or other provisions of this Agreement, the effect of which modifications would place Tenant in a comparable financial position had such Statutes not been enacted or issued. 8.3 Landlord's Non -Competition. During the Term, not including any Renewal Term, Landlord, shall not organize, or contract with third parties to organize, softball or baseball leagues or tournaments within the City; provided, that nothing in this Section shall prohibit the Landlord from (a) renting, licensing or allowing the use of Landlord's parks or fields, or (b) funding youth t -ball, coach pitch, and player pitch baseball or softball, or (c) organizing youth t - ball, coach pitch and player pitch baseball or softball leagues in the event Tenant does not do so, or (d) organizing winter baseball or softball leagues or tournaments during such periods that the Sports Complex is not open for baseball and softball use. "Youth" for purposes of this Section shall mean persons twelve (12) years of age and younger. In the event at any time during the Term, Tenant does not intend to organize youth t -ball, coach pitch and player pitch baseball or softball leagues, it shall notify Landlord in writing prior to November 1 of the preceding ball season, so that the Landlord at its option may organize such leagues. Once such leagues are organized by the Landlord after notice from Tenant or after Tenant fails to organize such youth leagues, Landlord shall have the right to organize such youth leagues without being subject to the provisions of this Section until such time that the Landlord fails to organize such youth leagues. SECTION 9 — LANDLORD'S DEVELOPMENT OF THE SPORTS COMPLEX 9.1 Approval of Plans and Specifications and Budget. Landlord and Tenant shall mutually agree in writing upon the final Plans and Specifications and Budget for purposes of the Landlord advertising for bids for the Project and FF&E. Once mutually approved in writing, the 14 8/16/2001 12:17 PM Landlord may make nonmaterial changes in the final Plans and Specifications or Budget, provided that such modifications are approved by the Landlord's architect for the Project and are consistent with the Project Description and the intended use of the Sports Complex, but may not make material changes in the final Plans and Specifications or Budget without the written consent of the Tenant, which shall not be unreasonably withheld. 9.2 Landlord's Construction Obligations. The Sports Complex shall be constructed by Landlord, as set forth in the Project Description and the Plans and Specifications, with due diligence. The quality of construction and the quality of materials used in the construction of the Sports Complex shall be of a first class quality and in accordance with the Project Description and the Plans and Specifications. Landlord shall prosecute Landlord's construction obligations hereunder to completion without undue interruption or delay and in a good, workmanlike manner. Landlord warrants that it will endeavor to cause the Sports Complex to be completed and possession thereof delivered to Tenant on or before May 1, 2003. In the event the Sports Complex is not completed and possession of the Sports Complex is not delivered to Tenant on or before May 1, 2003, Tenant shall have no obligation to pay any rent or other payments or perform any other obligations under this Agreement until the Term Commencement Date. Landlord shall have no liability to Tenant for failure to complete the Sports Complex and deliver possession of the Sports Complex on or before the date hereinbefore described, or on or before any other date, provided Landlord is continuing to prosecute its construction obligations diligently and in good faith. Tenant shall, however, have the option to terminate this Agreement, without further obligation or liability hereunder, in the event Landlord is unable to complete the Sports Complex and deliver possession of the Sports Complex to Tenant on or before November 1, 2004. 9.3 Guarantee of Materials. Landlord shall guarantee all work performed by or for Landlord in the construction of the Sports Complex against defective workmanship and materials for a period of two (2) years from the Term Commencement Date (or such longer period as may be specified in the Plans and Specifications). Landlord, if permitted, shall assign to Tenant (or enforce for Tenant's benefit) any and all guarantees and/or warranties of workmanship and materials which it may receive or which are required in the Plans and Specifications with respect to those portions of the Sports Complex required to be maintained and repaired by Tenant hereunder. Within fifteen (15) days after receipt of Landlord's certification of substantial completion of the Sports Complex, Tenant shall supply to Landlord a written punch list (the "Punch List") setting forth any additional corrective work to the Sports Complex which Tenant believes is required to be performed pursuant to the Plans and Specifications. In the event that no Punch List is provided by Tenant within such fifteen (15) day period, then Tenant shall be deemed to have accepted the Sports Complex in its entirety subject to Landlord's guarantee obligations described above and any repair and maintenance obligations of Landlord under Section 11.2 below. Landlord shall complete or correct the Punch List items promptly and with due diligence. 9.4 FF&E. Tenant shall have the right to review and make additions and revisions to the FF&E list set forth in Exhibit 4 with the approval of the Landlord, which approval shall not be unreasonably withheld, subject to the maximum cost set forth in Section 9.5 not being exceeded. Landlord shall acquire at its expense and own all FF&E, which shall be leased to Tenant as part of this Agreement. Landlord shall advertise for bids for the FF&E at substantially 15 8/16/2001 12:17 PM the same time as the advertisement for bids for the Project. All or any portion of the FF&E may, at Landlord's option, be bid as part of the Project or by separate bid. 9.5 Landlord's Maximum Cost Obligation. Notwithstanding any other provision of this Agreement, Landlord's maximum cost obligation under this Agreement shall not exceed the total amount of $10,317,771 for all expenses contemplated by this Agreement, including, but not limited to, bond underwriting and counsel, site work, infrastructure improvements, construction, parking, buildings, maintenance, FF&E, planning costs, architects, engineers, permits, and applicable taxes. Notwithstanding the provisions of Section 9.1 regarding material changes in the Plans and Specifications and Budget, if at any time after commencement of construction of the Project, the Landlord reasonably determines that the maximum cost set forth in this Section 9.5 may be exceeded, the Landlord and Tenant shall negotiate in good faith modifications in the approved final Plans and Specifications and Budget, consistent with the Project Description and contemplated use of the Sports Complex, to maintain the maximum costs below the amount set forth in this Section 9.5. SECTION 10 — UTILITIES AND SERVICES Tenant shall make all arrangements for and pay prior to delinquency all utilities and services furnished to or used by it or its licensees or sub -tenants, including, without limitation, gas, electricity, water, telephone service, communications, cable television, trash collection, sewer and storm drainage. Landlord shall, as part of its construction obligations, contract for and pay all necessary charges to connect the Sports Complex, and all necessary locations within the Sports Complex, to, or to access, gas, electrical, water, telephone, communications, cable television lines or sources and sewer and storm drainage. SECTION 11— MAINTENANCE AND REPAIRS 11.1 Tenant's Obligations. Except as provided in Section 11.2 below, throughout the Term, Tenant shall, at Tenant's sole cost and expense, maintain the entire Sports Complex in a safe and first class condition and in good repair, including but not limited to replacement of FF&E (damage by casualty described in Section 13.1 excepted) and in accordance with (a) all applicable Statutes; (b) the insurance underwriting board or insurance services office having or claiming jurisdiction over the Sports Complex; (c) all insurance companies insuring all or any part of the Sports Complex; and (d) standards consistent with other Big League Dreams Sports Parks. 11.2 Landlord's Obligations. For a period of two (2) years from the Term Commencement Date, Landlord shall, at Landlord's sole cost and expense, make all repairs and replacements in the Sports Complex required because of latent defects or latent faulty installation or construction by Landlord or as the result of the act, default, omission or negligence of Landlord, its employees, agents, licensees, contractors or subcontractors. 11.3 Maintenance and Replacement of FF&E. All FF&E shall be maintained and replaced by Tenant pursuant to Section 11.1. 16 8/16/2001 12:17 PM SECTION 12 — ALTERATIONS Tenant shall not make any alterations or additions to the Sports Complex after completion of the Sports Complex without the prior written consent of the City Manager, which consent may be withheld in the sole discretion of the Landlord. Subject to the prior written consent of the City Manager, the alterations or additions shall not be commenced in any case until twenty (20) days after the City Manager has received written notice from Tenant stating the date the construction of the alterations or additions is to commence so that the City Manager, on behalf of Landlord, can post and record an appropriate notice of nonresponsibility. Any alterations or additions or changes to the Sports Complex made by Tenant shall be done at Tenant's sole expense and in accordance with all applicable laws, rules and regulations, including but not limited to public procurement laws (as applicable) and building codes. All such work requiring a building permit shall be performed under the direction and supervision of a competent contractor(s) licensed and in good standing under the laws of the State of Washington. Tenant shall not permit any mechanic's or materialman's liens to remain against the Sports Complex for work or materials furnished in connection with any such alterations, additions or changes to the Sports Complex. If Tenant shall, in good faith, contest the validity of any such lien, Tenant shall, at its sole expense, defend itself and Landlord against the same and upon Landlord's request, furnish to Landlord a surety bond in an amount equal to one hundred twenty percent (125%) of such contested lien indemnifying Landlord against the liability for same and holding the Sports Complex free from any effect of such lien. All alterations and additions to the Sports Complex shall become the property of Landlord and shall remain on and be surrendered with the Sports Complex at the expiration or sooner termination of this Agreement. SECTION 13 - DESTRUCTION 13.1 Partial Destruction: Restoration by Tenant. If the Sports Complex is damaged or destroyed during the Tenn other than by a flood, earthquake or other casualty not covered by the all risk property insurance required to be maintained by Tenant, and the cost of repairing the Sports Complex is less than thirty percent (30%) of the replacement cost of the Sports Complex and the Term has at least ten (10) years remaining, then Tenant shall promptly restore the Sports Complex to substantially the same condition it was in immediately before such damage or destruction in accordance with the original Plans and Specifications (except for changes as may be required by changed building and safety codes, which Tenant shall make at Tenant's sole cost and expense). Such damage or destruction shall not terminate this Agreement. Tenant shall use commercially reasonable efforts to complete such repairs and endeavor to do so within one - hundred eighty (180) days from the date of the casualty. 13.2 Major Damage or Destruction: Tenant's Right to Terminate. If the Sports Complex is damaged or destroyed by flood, earthquake or other casualty not covered by the all risk property insurance required to be maintained by Tenant during the Term, and the cost of repairing the Sports Complex is thirty percent (30%) or more of the replacement cost of the Sports Complex or the Term has less than ten (10) years remaining, then Tenant shall have the option of either repairing and reconstructing the Sports Complex or of terminating this Agreement. 17 8/16/2001 12:17 PM 13.3 Damage Covered by Insurance. Notwithstanding the foregoing, provided that damage or destruction to the Sports Complex is due to a cause covered by the all risk property insurance required by this Agreement or by insurance otherwise maintained by Tenant, then Tenant shall restore the Sports Complex to substantially the same condition it was in immediately before such damage or destruction, in accordance with the original Plans and Specifications (except for any changes that may be required by changed building and safety codes, which Tenant shall make at Tenant's sole cost and expense) to the extent of insurance proceeds received; provided, however, that (1) if the cost of the restoration of the Sports Complex shall exceed the insurance proceeds available to Tenant to perform such restoration by an amount in excess of $100,000, or (2) there is damage to or destruction of the Sports Complex and the governmental restrictions then in effect with respect to the Sports Complex prohibit construction of economically viable replacement improvements with respect to a use which Tenant has a right to make under this Agreement, or (3) such destruction occurs during the last ten (10) years of the Term or during any extension term of this Agreement, then Tenant shall have the right to terminate this Agreement. 13.4 Right of Termination. To exercise the right of termination described in Section 13.2 or 13.3, Tenant must comply with all of the following conditions: (a) Give Landlord notice of termination within sixty (60) days after the damage or destruction, specifying the date of termination which shall be not less than sixty (60) days nor more than one hundred twenty (120) days after the date such notice of termination is given; (b) Prior to the termination date, cure any defaults on Tenant's part under this Agreement; (c) Continue to make all payments when due (including without limitation the prorated portion of any additional rent, including any rent due under Section 4, becoming due after Tenant has given the notice of termination but prior to the date of termination), if any, as required by the provisions of this Agreement until the date of termination; (d) Prior to the termination date, pay in full any outstanding indebtedness incurred by Tenant and secured by an encumbrance or encumbrances on the leasehold, or alternatively, deliver to Landlord the written consent of the holders of all such encumbrances to the early termination of this Agreement and extinguishment of their liens; (e) Prior to the termination date, cause to be discharged all liens and encumbrances encumbering the Sports Complex or Tenant's leasehold interest resulting from any act or omission of Tenant; (f) On or before the termination date, deliver possession of the Sports Complex to Landlord, quitclaim all right, title and interest in the Sports Complex to Landlord and cease to do business on the Sports Complex, and vacate the Sports Complex; 18 8/16/2001 12:17 PM (g) Prior to the termination date, effectively relinquish, assign and deliver to Landlord all insurance proceeds resulting from the casualty. In the event of any such termination, any additional rent paid in advance shall be prorated through the date the Agreement is terminated. 13.5 Abatement or Reduction of Rent. In case of any damage or destruction where this Agreement is not terminated, there shall be no abatement or reduction of Percentage Rent or additional rent; however, during the period of reconstruction, Tenant may continue to conduct business from the Sports Complex from temporary facilities or temporary structures subject to compliance with local building and safety codes or other applicable municipal codes. Tenant shall use commercially reasonable efforts to complete such reconstruction and re -open the Sports Complex for business within a reasonable time. 13.6 Insurance Proceeds. If Tenant is obligated or elects to restore the Sports Complex pursuant to this section, the proceeds of any insurance maintained under this Agreement shall be disbursed pursuant to a customary construction disbursement system or service for payment of costs and expenses of repair. If the insurance proceeds are insufficient to cover the cost of repair, and Tenant is nonetheless obligated to repair under Sections 13.1 or 13.2, then Tenant shall deposit the amount of the deficiency with Landlord, and such funds shall be disbursed first, and the balance of the construction costs shall be disbursed from the insurance proceeds by Landlord. SECTION 14 — INSURANCE AND INDEMNITY 14.1 Liability Insurance. Effective as of the Term Commencement Date, Tenant shall procure at its sole cost and expense, and thereafter keep in effect at all times until the end of the Term, commercial general liability insurance which shall include broad form contractual liability insurance coverage insuring all of Tenant's indemnity obligations under this Agreement. Such coverage shall have a minimum combined single limit of liability of at least $1,000,000 per occurrence and an umbrella or excess liability policy of not less than $4,000,000 per occurrence. If commercial general liability insurance or other form with a general aggregate limit is used, the general aggregate limit shall be twice the required occurrence limit. Tenant's public liability insurance shall include liquor liability insurance and shall not exclude liability for athletic participants. All of Tenant's public liability insurance policies shall be written to apply to all bodily injury, property damage, personal injury and other covered loss, however occasioned, occurring during the policy term, and shall be endorsed to provide that such coverage shall be primary and that any insurance maintained by Landlord shall be excess insurance only. Tenant may satisfy the requirements of this Section 14.1 by having BLD USA obtain a master policy of liability insurance applicable to multiple Big League Dreams Sports Parks which shall, by endorsement, specifically name Tenant as an insured with respect to the Sports Complex and comply with other requirements of this Section 14.1 applicable to such insurance for the Sports Complex, including but not limited to the liability limits. 14.2 Workers' Compensation Insurance. Tenant and Tenant's sub -tenants and concessionaires shall maintain workers' compensation insurance in accordance with Washington law and an employer's liability insurance endorsement with customary limits. 19 8/16/2001 12:17 PM 14.3 Property Insurance. (a) All Risk Coverage. Tenant shall at Tenant's expense obtain and keep in force during the Term of this Agreement (commencing as of the Term Commencement Date) a policy of insurance covering loss or damage to the Sports Complex, all FF&E and other personal property of Tenant and Landlord, in the amount of the full replacement value thereof, including inflation guard endorsement, as the same may exist from time to time, against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief and special extended perils ("all risk," as that term is known in the insurance industry), but excluding damage due to flood or earthquake. If such insurance coverage has a deductible clause, the deductible amount shall not exceed $20,000 per occurrence. Tenant shall be liable for such deductible amount. Tenant shall obtain such endorsements as are reasonably recommended by Landlord's risk manager, including, without limitation, an endorsement for changes in building codes, provided such endorsements may be obtained on commercially reasonable terms. Landlord shall be the loss payee on such policy. Landlord shall receive and retain all insurance proceeds to the extent they are not used to rebuild the Sports Complex following an insured casualty. (b) Replacement Value. The "full replacement value" of the property to be insured under this section shall be determined based upon the cost to the Landlord for such property. Not more frequently than once every five (5) years, either party shall have the right to notify the other that it elects to have the replacement value redetermined by an independent appraiser as provided in this subpart (b). The redetermination shall be made promptly and each party shall be promptly notified of the results by the appraiser. The insurance policy shall be adjusted according to the redetermination. 14.4 Insurance Policies. (a) Coverage Re -Evaluation. Not more frequently than once every five (5) years, if in the reasonable opinion of Landlord the amount or type of any insurance at that time is not adequate or not provided for herein, Tenant shall either acquire or increase the insurance coverage as required by Landlord provided Tenant may obtain such increased coverage on commercially reasonable terms. (b) Policy and Company Requirements. Tenant shall deliver to Landlord copies of policies of such insurance or certificates with attached original endorsements evidencing the existence and amounts of such insurance with loss payable clauses as required by this Section 14. Tenant shall, at least fifteen (15) days prior to the expiration of such policies, furnish Landlord with renewals or binders thereof. Insurance is to be placed with insurers with a current A.M. Best's rating of no less than A -:VII and licensed to do business in the State of Washington. All policies of insurance must (other than the property insurance, which shall name the Landlord as the loss payee) be endorsed to contain the following: (i) The Landlord, its elected officials, council members, officers, employees, agents and volunteers as additional insureds. The coverage shall contain no special limitations on the scope of protection afforded the Landlord. 20 8/16/2001 12:17 PM (ii) The insurance coverage shall be primary insurance as respects the Landlord, its elected officials, council members, officers, employees, agents and volunteers. Any insurance or self-insurance maintained by the Landlord, its members, council members, officers, employees and volunteers shall be excess of the insurance and shall not contribute with it. (iii) No such policy shall be cancelable or subject to reduction of coverage or other modification except after thirty (30) days prior written notice to Landlord. (iv) As respects workers' compensation insurance, the policy shall be endorsed with a waiver of subrogation clause for Landlord, its elected officials, council members, officers, employees, agents and volunteers. (c) Policy Compliance. Tenant shall not use the Sports Complex in any manner, even if the use is for the purposes permitted herein, that will result in the cancellation of any insurance required under this Agreement. Tenant shall not keep on the Sports Complex or permit to be kept, used or sold thereon, anything prohibited by any fire or other insurance policy covering the Sports Complex. (d) Failure to Obtain Insurance. If, after written notice and a fifteen (15) day opportunity to cure, Tenant shall fail to obtain any insurance required under this Agreement, Landlord may, at its election, obtain such insurance and Tenant shall, as additional rent, reimburse Landlord for the cost thereof plus a five percent (5%) handling charge, within five (5) days following demand therefor. If Tenant fails or refuses to maintain insurance as required hereunder, or fails to provide the proof of insurance, Landlord shall, subject to the notice and cure provisions of Section 17.1, have the right to declare this Agreement in default, and Landlord shall be entitled to exercise all legal remedies for breach of this Agreement. (e) Relationship to Indemnities. All insurance required to be provided hereunder is in addition to, and not in lieu of, the indemnity provisions of Section 14.6. The procuring of such required policies of insurance shall not be construed to limit Tenant's liability hereunder, nor to fulfill the indemnification provisions and requirements of this Agreement. 14.5 Waiver of Subrogation. Tenant and Landlord each hereby release and relieve each other, and waive their right of recovery against the other, for loss or damage arising out of or incident to the perils insured against under Section 14.3, which perils occur in', on or about the Sports Complex, whether due to the negligence of Landlord or Tenant or their agents, employees, contractors and/or invitees, but only to the extent of insurance coverage. Tenant shall, upon obtaining the policies of insurance required hereunder, give notice to the insurance carrier or carriers that the foregoing mutual waiver of subrogation is contained in this Agreement 14.6 Indemnity. Tenant shall, commencing with the Term Commencement Date, indemnify, defend, protect and hold harmless Landlord and its respective elected officials, council members, officers, employees, agents and contractors (collectively the "Indemnitees") from and against any and all claims, losses, proceedings, damages, causes of action, liability, 21 8/16/2001 12:17 PM costs and expenses (including reasonable attorneys' fees), related to, arising from or in connection with, or caused by, directly or indirectly (a) any act, omission or negligence of Tenant or any sub -tenant of Tenant, or their respective contractors, licensees, invitees, agents or employees, wheresoever the same may occur; (b) any use of the Sports Complex, or any accident, injury, death or damage to any person or property occurring in, on or about the Sports Complex, or any part thereof, or from the conduct of Tenant's business or from any activity, work or thing done, permitted or suffered by Tenant or its sub -tenants, contractors, employees or invitees in, on or about the Sports Complex, or elsewhere (other than when arising as a result of the negligence or intentional misconduct of an Indemnitee); and (c) any breach or default in the performance of any obligations on Tenant's part to be performed under the terms of this Agreement, or arising from any negligence of Tenant, or any such claim or any action or proceeding brought thereon; and in case any action or proceeding be brought against an Indemnitee by reason of any such claim, Tenant upon notice from Landlord shall defend the same at Tenant's expense by counsel reasonably satisfactory to Landlord. Tenant shall have no duty to defend or indemnify Landlord or any other Indemnitee from any Legal Challenge. Tenant, as a material part of the consideration to Landlord, hereby assumes all risk of damage to property or injury to person in, on or about the Sports Complex arising from any cause other than the negligence or intentional misconduct of an Indemnitee or Hazardous Materials existing on the Land prior to the Term Commencement Date as provided in Section 30.4 and Tenant hereby waives all claims in respect thereof against Landlord. Tenant specifically waives any immunity that may be granted it under the Washington State Industrial Insurance Act, Title 51, Revised Code of Washington. Further, the indemnification obligations of Tenant to Landlord shall not be limited in any way by any limitation on the amount or type of damages, compensation, or benefits payable to or for any third party under workers' compensation acts, disability benefit acts, or other benefit acts; provided, that Tenant's waiver of immunity by the such provisions shall extend only to claims against Tenant by Landlord and shall not include or extend to any claims by Tenant's employees directly against Tenant. These provisions are in addition to, and not in lieu of, the insurance required under this Section 14. SECTION 15 — CONDEMNATION 15.1 Definitions. (a) "Condemnation" means (i) the exercise of any governmental power, whether by legal proceedings or otherwise, by a Condemnor and (ii) a voluntary sale or transfer by Landlord to any Condemnor, either under threat of condemnation or while legal proceedings for condemnation are pending. (b) "Date of Taking" means the date the Condemnor has the right to possession of the property being condemned. (c) "Award" means all compensation, sums or anything of value awarded, paid or received on a total or partial condemnation. (d) "Condemnor" means any public or quasi -public authority (other than the City, which shall not exercise rights of condemnation with respect to the Land during the Term), or private corporation or individual, having the power of condemnation or eminent domain. 22 8/16/2001 12:17 PM 15.2 Rights and Obligations Governed by Lease. If during the Term there is any taking of all or any part of the Sports Complex or any interest in this Agreement by Condemnation, the rights and obligations of the parties shall be determined pursuant to this Section. Each party waives all statutory rights allowing either party to petition a court of competent jurisdiction to terminate this Agreement in the event of a partial taking of the Sports Complex. 15.3 Total Taking. If the Sports Complex is totally taken by Condemnation, this Agreement shall terminate on the Date of Taking. 15.4 Partial Taking. If any portion less than all of the Sports Complex is taken by Condemnation, this Agreement shall remain in effect, except that Tenant can elect to terminate this Agreement if, in the reasonable judgment of Tenant, the portion of the Sports Complex not so taken cannot be so repaired or reconstructed, taking into consideration the amount of the award available for repair, so as to be suitable for Tenant's continued use of the Sports Complex for the same use as the Sports Complex was being used immediately prior to the taking and the remaining Sports Complex would not be usable by Tenant on an economically feasible basis. If Tenant elects to terminate this Agreement, Tenant must exercise its right to terminate by giving notice to Landlord within sixty (60) days after the Date of Taking. If Tenant elects to terminate this Agreement, Tenant also shall notify Landlord of the effective date of the termination, which effective date shall not be later than ninety (90) days after Tenant has notified Landlord of its election to terminate. If Tenant does not terminate this Agreement within the sixty (60) day period, this Agreement shall continue in full force and effect. 15.5 Restoration of Sports Complex. If there is a partial taking of the Sports Complex and this Agreement remains in full force and effect pursuant to Section 15.4, Tenant shall commence all necessary restoration as promptly as reasonably practicable under the circumstances but in all events within thirty (30) days after receipt of the Award, and shall thereafter diligently pursue such restoration work to completion. 15.6 Temporary Taking. On any taking of the temporary use of all or any part or parts of the Sports Complex for a period, or of any estate less than a fee, ending on or before the expiration date of the Term, the Term shall not be reduced, extended or affected in any way, and Tenant shall be entitled to any Award for the use or estate taken. If a result of the temporary taking is to necessitate expenditures for changes, repairs, alterations, modifications or reconstruction of the Sports Complex, the Award shall be paid to Tenant, and Tenant shall commence all necessary changes, repairs, alterations, modifications or reconstruction of the Sports Complex as promptly as reasonably practicable under the circumstances but in all events within thirty (30) days after receipt of the Award, and shall thereafter diligently pursue such restoration work to completion. At the completion of the work and the discharge of the Sports Complex from all liens and claims, Tenant shall be entitled to any surplus and shall be liable for any deficit. If any such taking is for a period extending beyond the expiration date of the Term, the taking shall be treated under the foregoing provisions for total and partial takings, depending upon whether the temporary taking is of all or only a part of the Sports Complex. 15.7 Application of Award. No Award for any partial or entire taking shall be apportioned. Awards for partial or temporary takings, where this Agreement is not terminated, shall be applied by Tenant to restoration of the Sports Complex as provided above. Tenant 23 8/16/2001 12:17 PM hereby assigns to Landlord any Award for a total taking which may be made, together with any and all rights of Tenant now or hereafter arising in or to the same or any part thereof; provided, however, that nothing contained herein shall be deemed to give Landlord any interest in or require Tenant to assign to Landlord any Award made to Tenant for the unamortized value of any additions or improvements on the Sports Complex constructed by Tenant in accordance with this Agreement (amortized on a straight line basis over the remainder of the Term of this Agreement from the Date of Taking), the taking of personal property and fixtures belonging to Tenant and removable by Tenant at the expiration of the Term hereof, as provided hereunder, or for the interruption of, damage to, or loss of Tenant's business and goodwill, or for relocation expenses recoverable against the Condemnor, or in the event of a partial taking, the cost of restoring the Sports Complex to a usable condition. SECTION 16 — ASSIGNMENT, SUBLETTING AND ENCUMBERING 16.1 Prohibition Against Assignment, Subletting and Encumbering. Tenant shall have the right to assign this Agreement to an entity as to which a Controlling Percentage is owned by BLD USA or by Tenant or which shall have purchased all or substantially all of the assets of BLD USA or Tenant. Tenant shall not otherwise assign, transfer or encumber all or any portion of its interest in this Agreement or in the Sports Complex, or sublease all or any part of the Sports Complex, or allow any other person or entity (except Tenant's or BLD USA's authorized representatives) to occupy or use all or any part of the Sports Complex, without Landlord's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. No licensees, concessionaires or sub -tenants of all or part of the Sports Complex shall, without the prior written approval of Landlord, be Affiliates of Tenant. In the event Landlord approves any assignment, subletting or encumbering of the Sports Complex, Landlord shall cooperate with Tenant in effectuating the reasonable requirements of prospective assignees, sub -tenants or encumberees to complete any such transaction. Landlord shall not assign this Agreement to any entity other than a political subdivision of the City or its Redevelopment Agency without the Tenant's prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. (a) Approval Procedure for Assignments, Subleases and Encumbrances. Tenant shall first notify Landlord at least sixty (60) days prior to the proposed effective date of any assignment, sublease or encumbrance, in writing, of its desire to do so and shall submit in writing to Landlord (1) the name of the proposed sub -tenant, assignee or encumberee, (2) the terms and conditions of the proposed sublease, assignment or encumbrance (including a copy of the written agreement for same), (3) financial statements for the two most recent completed fiscal years of the proposed sub -tenant or assignee, and (4) a bank reference for the proposed sub -tenant or assignee. Thereafter, Tenant shall furnish such supplemental information as Landlord may reasonably request concerning the proposed sub -tenant, assignee or encumberee. At any time within thirty (30) days after Landlord's receipt of the information specified above, Landlord may by written notice to Tenant elect to (1) consent to the sublease, assignment or encumbrance, or (2) disapprove of the sublease, assignment or encumbrance in Landlord's reasonable discretion. Such grounds may include, without limitation, a possible material adverse effect upon the reputation of the Sports Complex from the nature of the sub -tenant or assignee; a reputation for financial reliability on the part of the proposed sub -tenant or assignee which is unsatisfactory in the sole judgment of Landlord; insufficient experience of the sub -tenant or assignee to operate the Sports Complex; likely adverse impact on Gross Revenues; or 24 8/16/2001 12:17 PM inexperience in the performance of Tenant's other obligations under this Agreement. If Landlord consents to the sublease, assignment or encumbrance (or fails to respond to Tenant's request) within the sixty (60) day period, Tenant may thereafter enter into such assignment, sublease or encumbrance of the Sports Complex upon the terms and conditions and as of the effective date set forth in the information furnished by Tenant to Landlord. (b) Executed Document Copy. Notwithstanding Landlord having granted its consent to any assignment, subleasing or encumbering, prior to the effective date of any assignment, the commencement date of any sublease or the recordation date of any encumbrance, Tenant shall furnish Landlord with a copy of the fully executed sublease, assignment or encumbrance agreement. (c) Minimum Term. No sublease of the Sports Complex or portion thereof, or assignment of this Agreement, shall be for a period of less than one (1) year, nor shall any sublease or encumbrance extend beyond the expiration date of the Term of this Agreement. (d) Assumption. Each permitted assignee or transferee shall assume and be deemed to have assumed, and each sub -tenant shall be bound by, this Agreement. In the case of an assignment of this Agreement where Landlord's approval is required and Landlord so consents in writing, Landlord shall not release Tenant from any further obligations arising under this Agreement after the date of the assignment unless such assignment specifically provides for such a release. No assignment shall be binding on Landlord unless such assignee or Tenant shall deliver to Landlord a counterpart of such assignment which contains a covenant of assumption by the assignee, but the failure or refusal of the assignee to execute such instrument of assumption shall not release or discharge the assignee from its liability as set forth above. 16.2 Additional Provisions. No consent by Landlord to any assignment, sublease or encumbrance shall constitute a waiver of the provisions of this section. Tenant shall not make any modifications to an approved sublease without Landlord's prior written consent. For the purposes hereof, an "encumbrance" shall mean a mortgage, deed of trust, land sale contract, lease or other financing device. Any attempted assignment, sublease or encumbrance, if not approved by Landlord in advance pursuant to this Section 16, shall be voidable by Landlord and, at Landlord's election, shall, subject to the notice and cure provisions of Section 17, constitute a default hereunder. 16.3 Liens. Tenant shall not cause or permit any liens of any nature to be placed against the Sports Complex except liens placed thereon by Landlord or approved by Landlord as provided in this Section, and Tenant shall save Landlord harmless from and on account of all liens and all expenses and indebtedness connected therewith, including but not limited to Landlord approved liens, except those relating to liens placed thereon by Landlord. SECTION 17 — DEFAULT 17.1 Tenant's Default. The occurrence of any of the following shall constitute a default by Tenant: 25 8/16/2001 12:17 PM (a) Failure to Pay Rent. Failure to pay rent (whether Percentage Rent, or any other rent due to Landlord) or any other additional payment required to be made by Tenant to Landlord hereunder as and when due, where such failure continues for ten (10) days after delivery by Landlord to Tenant of written notice of such failure. (b) Failure to Pay Taxes. Failure to pay any Taxes on a timely basis, or the failure to provide any insurance required hereunder, where such failure continues for fifteen (15) days after delivery by Landlord of written notice of such failure to Tenant. (c) Surrender. Abandonment or surrender of the Sports Complex or the leasehold estate by Tenant. (d) Default Under Related Agreements. Tenant's default under any Related Agreement, where such default is not cured by Tenant (or BLD USA, as applicable) within the cure period applicable to such default under such agreements or within ten (10) days after delivery by Landlord to Tenant of written notice of such failure, whichever shall later occur. (e) Default Under this Agreement. Failure to perform any other covenant or provision of this Agreement, if the failure to perform is not cured within thirty (30) days after delivery by Landlord to Tenant of written notice. If the failure to perform cannot reasonably be cured within thirty (30) days, Tenant shall not be in default of this Agreement if Tenant commences to cure the failure to perform within the thirty (30) day period and thereafter diligently and in good faith prosecutes the cure to completion. (f) (g) Attachment. The subjection of any right or interest of Tenant to attachment, execution or other levy, or to seizure under legal process, if not released within sixty (60) days after written notice from Landlord to Tenant. Insolvency. An assignment by Tenant for the benefit of creditors or the filing of a voluntary or involuntary petition by or against Tenant under any law for the purpose of adjudicating Tenant a bankrupt; or for extending time for payment, adjustment or satisfaction of Tenant's liabilities; or for reorganization, dissolution or arrangement on account of or to prevent bankruptcy or insolvency; unless the assignment or proceeding, and all consequent orders, adjudications, custodies and supervision are dismissed, vacated or otherwise permanently stayed or terminated within sixty (60) days after the assignment, filing or other initial event. (h) Receivership. The appointment of a receiver, unless such receivership is terminated within sixty (60) days after the appointment of the receiver, to take possession of Tenant's interest in the Sports Complex or of Tenant's interest in the leasehold estate or of Tenant's operations on the Sports Complex for any reason, including but not limited to, an assignment for 26 8/16/2001 12:17 PM the benefit of creditors or voluntary or involuntary bankruptcy, but not including receivership (i) pursuant to a permitted first leasehold encumbrance, or (ii) instituted by Landlord, the event of default being not the appointment of a receiver at Landlord's instance but the event justifying the receivership. 17.2 Landlord's Remedies. (a) Cumulative Nature of Remedies. If any default by Tenant shall continue uncured, following notice of default as required by this Agreement, for the period applicable to the default under the applicable provision of this Agreement, Landlord shall have the remedies described in this Section 17.2 in addition to all other rights and remedies provided by law or equity, to which Landlord may resort cumulatively or in the alternative. (b) Termination. Landlord may at Landlord's election terminate this Agreement by giving Tenant written notice of termination. In the event Landlord terminates this Agreement, Landlord may recover possession of the Sports Complex (which Tenant shall surrender and vacate upon demand) and remove all persons and property therefrom. Landlord shall in addition be entitled to recover as damages all of the following: (i) The worth at the time of the award of any unpaid rent or other charges which have been earned at the time of termination; (ii) The worth at the time of the award of the amount by which the unpaid rent and other charges which would have been earned after termination until the time of the award exceeds the amount of the loss of such rental or other charges that Tenant proves could have been reasonably avoided; (iii) The worth at the time of the award of the amount by which the unpaid rent and other charges for the balance of the Term after the time of the award exceeds the amount of the loss of such rental and other charges that Tenant proves could have been reasonably avoided; and (iv) Any other amount necessary to compensate Landlord for the detriment proximately caused by Tenant's failure to perform its obligations under this Agreement. (c) Worth Defined. As used in subparts (i) and (ii) above, the "worth at the time of the award" shall be computed by allowing interest at the rate of seven percent (7%) per annum. As used in subpart (iii) above, the "worth at the time of the award" shall be computed by discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award. (d) Continuation of the Agreement. Even in the event Tenant has breached this Agreement and abandoned the Sports Complex, at Landlord's option this Agreement shall continue in effect for so long as Landlord does not terminate Tenant's right to possession. 27 8/16/2001 12:17 PM Landlord may enforce all of its rights and remedies hereunder, including the right to recover rent as it comes due under this Agreement. In such event, Landlord will permit Tenant to sublet the Sports Complex or to assign its interest in this Agreement, or both, with the consent of Landlord, which consent will not unreasonably be withheld provided the proposed assignee or sub -tenant is reasonably satisfactory to Landlord as to credit and reputation and will occupy the Sports Complex for the same purposes specified herein, and provided that Tenant shall cure all defaults to Landlord as a condition precedent to the effectiveness of Landlord's consent. For purposes of this subsection, the following shall not constitute a termination of Tenant's right to possession: (i) acts of maintenance or preservation or efforts to relet the Sports Complex; or (ii) the appointment of a receiver under the initiative of Landlord to protect Landlord's interest under this Agreement. (e) Use of Tenant's Personal Property. Landlord may at Landlord's election use Tenant's personal property and trade fixtures located on, about or appurtenant to the Sports Complex or any of such property and fixtures without compensation and without liability for use or damage, or store them for the account and at the cost of Tenant. The election of one remedy for any one item shall not foreclose an election of any other remedy for another item or for the same item at a later time. (f) Assignment of Subrents. Tenant assigns to Landlord all subrents and other sums falling due from sub -tenants, licensees and concessionaires during any period in which Landlord has the right under this Agreement, whether exercised or not, to reenter the Sports Complex due to Tenant's default. Tenant shall not have any right to such sums during that period. This assignment is subject and subordinate to any and all assignments of the same subrents and other sums to the lender under a permitted first leasehold encumbrance. Landlord may at Landlord's election reenter the Sports Complex with or without process of law, without terminating this Agreement, and either or both collect these sums or bring action for the recovery of the sums directly from such obligors. Landlord shall receive and collect all subrents and proceeds from reletting, applying them: first, to the payment of reasonable expenses (including attorneys' fees or brokers' commissions or both) paid or incurred by or on behalf of Landlord in recovering possession, placing the Sports Complex in good condition and preparing or altering the Sports Complex for reletting; second, to the reasonable expense of securing new sub -tenants; third, to the fulfillment of Tenant's covenants to the end of the Term; and fourth, to Landlord's uses and purposes. Tenant shall nevertheless pay to Landlord on the due dates specified in this Agreement the equivalent of all sums required of Tenant under this Agreement, plus Landlord's expenses, less the proceeds of the sums assigned and actually collected under this provision. 17.3 Late Charge. Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other charges due under this Agreement will cause Landlord to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any indebtedness of Landlord related to the Sports Complex. Accordingly, if any delinquent installment of rent or any other charge due from Tenant is not received by Landlord or Landlord's designee within ten (10) days after written demand for payment shall have been delivered by Landlord to Tenant, then, at Landlord's election and upon Landlord's demand, Tenant shall pay to Landlord a late charge equal to ten percent (10%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of the 28 8/16/2001 12:17 PM late payment by Tenant. No late charge may be imposed more than once for the same late rental payment. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount. If Tenant fails to pay any two installments of Percentage Rent in the time (including applicable notice and cure periods) required by this Agreement, then Landlord also shall have the right, for a period of three (3) Lease Years, to require that all future Percentage Rent be payable monthly rather than quarterly. Landlord shall give Tenant written notice of such election at least five (5) days before the next monthly payment shall be due. 17.4 Landlord's Default. The occurrence of the following shall constitute a default by Landlord: Landlord's failure to perform any covenant or provision of this Agreement or of any Related Agreement, if the failure to perform is not cured within thirty (30) days after delivery by Tenant to Landlord of written notice specifying the specific nature of the alleged default. If the failure to perform cannot reasonably be cured within thirty (30) days, Landlord shall not be in default under this Agreement or under any Related Agreement if Landlord commences to cure the failure to perform within the thirty (30) day period and thereafter diligently and in good faith prosecutes the cure to completion. 17.5 Tenant's Remedies. If any default by Landlord shall continue uncured, following notice of default as required by this Agreement, for the period specified in Section 17.4 above, Tenant may terminate this Agreement and/or pursue any and all other rights and remedies available at law or in equity under the laws of the State of Washington. SECTION 18 — LANDLORD'S ENTRY ON SPORTS COMPLEX Landlord and its authorized representatives shall have the right to enter the Sports Complex at all reasonable times for any of the following purposes: (a) Verify Condition To determine whether the Sports Complex is in the condition required by this Agreement and whether Tenant is complying with its obligations under this Agreement; (b) Post Notices To serve, post or keep posted any notices required or allowed under the provisions of this Agreement; (c) Show Property To show the Sports Complex for any reasonable purpose at any time during the Term; and (d) Business Purposes To carry out any building or property management business purpose in or about the Sports Complex. Landlord shall not be liable in any manner for any inconvenience, disturbance, loss of business, nuisance or other damage arising out of Landlord's entry on the Sports Complex as provided in this Section, except damage resulting from the acts or omissions of Landlord or its authorized representatives. Tenant shall not be entitled to an abatement or reduction of rent if Landlord exercises any rights reserved in this Section. Landlord shall conduct its activities on 29 8/16/2001 12:17 PM the Sports Complex as allowed in this Section in a manner that reasonably attempts to minimize any inconvenience, annoyance or disturbance to Tenant's business operations. SECTION 19 — NOTICES Any notice, demand, request, consent, approval or communication that either party desires or is required to give to the other party shall be in writing and shall be given to the addresses set forth below, and shall be deemed delivered three (3) days after deposit into the United States mail, postage prepaid, by registered or certified mail, return receipt requested. Unless notice of a different address has been given in accordance with this Section, all such notices shall be addressed as follows: If to Landlord, to: City of Yakima 129 N. 2nd Street Yakima, Washington 98901 Attention: Richard A. Zais, Jr., City Manager If to Tenant, to: Big League Dreams Yakima, LLC 10550 Galena Street Mira Loma, California 91752 Attention: Scott Parks LeTellier, Chief Executive Officer SECTION 20 — ATTORNEYS' FEES If either party commences an action against the other arising out of or in connection with this Agreement, the prevailing party shall be entitled to have and recover from the losing party its reasonable attorneys' fees and costs of suit. SECTION 21— LITIGATION CONCERNING VALIDITY OF THIS AGREEMENT In the event any Legal Challenge is undertaken, Landlord shall have the right, exercisable not later than ninety (90) days from the date of this Agreement, provided the Legal Challenge shall not sooner have been dismissed, settled or otherwise resolved, to terminate this Agreement by thirty (30) days written notice to Tenant without any further liability to Tenant whatsoever. Landlord shall have no liability to Tenant if this Agreement is terminated by reason of such Legal Challenge. SECTION 22 — ESTOPPEL CERTIFICATES At any time and from time to time, within thirty (30) days after notice of request by either party, the other party shall execute, acknowledge and deliver to the requesting party, or to such other recipient as the notice shall direct, a statement certifying that this Agreement is unmodified and in full force and effect; or, if there have been modifications, that it is in full force and effect as modified in the manner specified in the statement and acknowledging that there are no uncured defaults or failures to perform any covenant or provision of this Agreement 30 8/16/2001 12:17 PM on the part of the requesting party or specifying any such defaults or failures which are claimed to exist. The statement shall also state the dates to which the rent and any other charges have been paid in advance. The statement shall be such that it can be relied on by any auditor, creditor, commercial banker or investment banker of either party and by any prospective lender with respect to the Sports Complex or all or any part or parts of Tenant's or Landlord's interests under this Agreement. Either party's failure to execute, acknowledge and deliver, on request, the certified statement described above within the specified time shall constitute a breach of this Agreement. If Tenant fails to deliver the certificate within ten (10) days, Tenant constitutes and appoints Landlord as its special attorney-in-fact to execute and deliver the certificate to a third party, which appointment is irrevocable and is hereby coupled with an interest. SECTION 23 — SUBORDINATION This Agreement is subject and subordinate to all prior leases and underlying liens, mortgages and deeds of trust which now encumber the Land, and to all renewals, modifications, consolidations, replacements and extensions thereof. If the holder or holders of any such mortgage or deed of trust shall advise Landlord that they desire or require this Agreement to be prior and superior thereto, upon written request of Landlord to Tenant, Tenant agrees promptly to execute, acknowledge and deliver any and all documents or instruments which are reasonably necessary or desirable for purposes thereof. Landlord shall have the right to cause this Agreement to be and become and remain subject and subordinate to future and further ground or underlying financing leases, mortgages or deeds of trust which may hereafter be executed covering the Sports Complex, or any renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject to all the terms and provisions thereof. Tenant shall, within thirty (30) days after Landlord's written requests therefor, execute, acknowledge and deliver any and all documents or instruments requested by Landlord, or that are necessary or proper to assure the subordination of this Agreement to any such mortgages, deeds of trust or leasehold estates; provided, however, that the foregoing provisions with respect to such election of subordination by Landlord shall not be effective unless the owner or holder of any such mortgage, deed of trust or leasehold estate shall execute with Tenant a nondisturbance agreement under which such owner, holder or Landlord shall agree, in the event of termination of such leasehold estate or upon the foreclosure of any such mortgage or deed of trust, that Tenant's quiet enjoyment of the Sports Complex will not be disturbed so long as Tenant pays rent and observes and perform all of the provisions of this Agreement to be observed and performed by Tenant. Notwithstanding anything to the contrary set forth in this Section, Tenant hereby attorns and agrees to attorn to (at the option of) any person, firm or corporation purchasing or otherwise acquiring the Sports Complex at any sale or other proceeding or pursuant to the exercise of any other rights, powers or remedies under such mortgages, or deeds of trust, or ground or underlying leases, as if such person, firm or corporation had been named as Landlord herein. SECTION 24 — SALE OR TRANSFER BY LANDLORD In the event of any transfer or transfers of Landlord's interest in the Sports Complex, other than a transfer for security purposes only, the City, as transferor, shall automatically be relieved of any and all obligations and liabilities on the part of the Landlord accruing from and after the effective date of such transfer provided that any funds in the hands of the City to which 31 8/16/2001 12:17 PM Tenant is entitled at the time of such transfer shall be turned over to the transferee and the City shall have satisfied all obligations and liabilities to Tenant arising under this Agreement or under any Related Agreement as of the effective date of the transfer. The covenants and obligations of Landlord contained in this Agreement shall be binding upon Landlord, its successors and permitted assigns only during their respective periods of ownership. SECTION 25 — SURRENDER OF SPORTS COMPLEX At the expiration or earlier termination of the Term, Tenant shall surrender to Landlord the possession of the Sports Complex. Surrender or removal of improvements, fixtures and trade fixtures shall be as directed in the provisions of this Agreement on ownership of improvements, fixtures and trade fixtures at expiration or termination of this Agreement. Except as provided in Section 13 to the contrary, Tenant shall leave the surrendered property and any other property in good and broom clean condition. All personal property that Tenant is not required to surrender but that Tenant does abandon shall, at Landlord's election, become Landlord's property at expiration or the sooner termination of this Agreement. SECTION 26 — NONDISCRIMINATION, NONSEGREGATION AND DIVERSITY CLAUSES 26.1 Nondiscrimination and Nonsegregation. Tenant covenants by and for itself, its successors and assigns and all persons claiming under or through it that it shall not discriminate against or segregate any person, or group of persons, on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the subleasing, use, occupancy or enjoyment of the Sports Complex nor shall the Tenant itself, or any person claiming under or through it, establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of licensees, concessionaires, sub -tenants or vendees in the Sports Complex. Nothing herein shall be construed to limit or restrict Tenant from organizing men's, women's, girls, boys, church, company or other group leagues, tournaments or other programs. 26.2 Diversity of the Workforce. Tenant affirms, as an aspirational goal, diversity in employment at the Sports Complex comparable to the ethnic composition of Yakima County and will use due diligence to realize this aspirational goal. The Landlord will help Tenant affirmatively market opportunities at the Sports Complex. The parties understand and agree that this aspirational goal and efforts related to it is not a contractual requirement and is not subject to any contractual penalties. SECTION 27 — HOLDING OVER If Tenant remains in possession of the Sports Complex or any part thereof after the expiration or termination of the Term of this Agreement, such occupancy shall be a tenancy from month to month upon all the provisions of this Agreement pertaining to the obligations of Tenant, except that the Percentage Rent shall be increased to Twelve percent (12%) of the Gross Revenues and the Percentage Rent shall be payable in arrears on a monthly basis. 32 8/16/2001 12:17 PM SECTION 28 — REPRESENTATIONS, WARRANTIES AND ACKNOWLEDGMENTS Tenant makes the following representations, warranties and acknowledgments as of the date of this Agreement, which representations, warranties and acknowledgments shall survive and continue thereafter: (a) Status. Tenant is a limited liability company, duly formed and validly existing and has all power and authority to perform the obligations contemplated hereby. On or before execution of this Agreement, Tenant shall supply to Landlord, certificates of formation for Tenant and BLD USA. Throughout the Term of this Agreement, Tenant shall be and remain a single -purpose, bankruptcy remote entity. (b) Authority. Tenant has complied with all laws and regulations concerning its organization, existence and transaction of business. Tenant has the right and power to lease and operate the Sports Complex as contemplated in this Agreement. To the best of Tenant's knowledge, Tenant has, or at all appropriate times shall have properly obtained, all permits, licenses and approvals necessary to occupy and operate the Sports Complex and in so doing has, or shall have (as appropriate), substantially complied with all applicable Statutes. (c) No Litigation. There is no litigation, action, suit or other proceeding pending or threatened against Tenant which may in any manner whatsoever substantially adversely affect the validity, priority or enforceability of this Agreement or the construction, use, occupancy or operation of the Sports Complex. (d) Enforceability. Tenant has full right, power and authority to execute and deliver this Agreement and the Memorandum of Lease executed pursuant hereto, and to perform the undertakings of Tenant contained in this Agreement. This Agreement constitutes valid and binding obligations of Tenant which are legally enforceable in accordance with their terms, subject to the laws of bankruptcy, creditor's rights exceptions and equity. (e) No Breach. To the best of Tenant's knowledge, none of the undertakings of Tenant contained in this Agreement violates any applicable Statute or any order or ruling of any court, or conflicts with, or constitutes a breach or default under, any agreement by which Tenant is bound or regulated. (f) Accuracy. To the best of Tenant's knowledge, all documents, reports, instruments, papers, data, information and forms of evidence delivered to Landlord by Tenant with respect to this Agreement are accurate and correct, are complete insofar as completeness may be necessary to give Landlord true and accurate knowledge of the subject matter thereof, and do not contain any material misrepresentation or omission. 33 8/16/2001 12:17 PM (g) Taxes. To the best of Tenant's knowledge, Tenant has filed all federal, state, county and municipal tax returns required to have been filed by Tenant, and has paid all taxes which have become due pursuant to such returns or to any notice of assessment received by Tenant. Tenant has no knowledge of any basis for additional assessment with respect to such taxes. SECTION 29 — SPECIAL PROVISIONS 29.1 City Use of Sports Complex. Tenant agrees to make the Sports Complex available to the Landlord four weekdays each year for City employee or non-profit community activity use. Such days shall be reasonably selected by Tenant and Landlord, which selection shall be based, among other factors, on space availability, and shall not be on holidays. The Landlord shall give Tenant at least three (3) months prior written notice of the date or dates it proposes for use of the Sports Complex. On such dates (hereinafter "City Days"), the Sports Complex shall be made available to Landlord free of charge, provided, however, all hourly (but not salaried) labor employed to service City Days activities shall be charged to the Landlord based on Tenant's actual cost. Food and beverages shall be sold to guests and invitees of Landlord at regular retail prices. 29.2 Pre -Opening Expenses. Tenant acknowledges that Tenant will be responsible for the initial capitalization of Tenant's business operations on the Sports Complex and will be responsible for start-up expenses in connection with Tenant's business operations including, without limitation, hiring and training of employees, acquisition of inventory and pre -opening marketing expenses. 29.3 Signage. Tenant shall not accept or display tobacco product or adult entertainment advertising in the Sports Complex. During the Term, Tenant shall permit Landlord to display one non-commercial, public interest sign per stadium replica field without payment of any advertising fees. Landlord shall, at its option, fabricate and provide the signs to Tenant according to specifications Tenant shall develop for advertising signs generally or reimburse Tenant for Tenant's actual costs in fabricating the signs for Landlord. 29.4 Competing Business. Commencing with the date of this Agreement and continuing during the Term of this Agreement or, in the event this Agreement is terminated as a result of a default by Tenant or as a result of Tenant's surrender or abandonment of this Lease, for a period of twenty-five (25) years from the date of this Agreement, whichever is longer, neither Tenant nor an Affiliate of Tenant, shall own, lease, or manage, nor license the use of the name "Big League Dreams" in connection with a competing sports park facility similar in nature and function to the Sports Complex or any other sports park or sports facility located within the state of Washington. 29.5 Regulation of Smoking. Pursuant to Chapter 70.160 of the Revised Code of Washington, the Washington Administrative Code, and City of Yakima Administrative Code § 700, employees and members of the public are not permitted to smoke in any City owned facility. Tenant shall establish and enforce a policy of prohibiting smoking in the Sports Complex; provided, however, that designated smoking areas may be established outside of the 34 8/16/2001 12:17 PM entrances to the Sports Complex or any structures of the Sports Complex, so long as the designated smoking areas are no closer than 30 feet from any entrance doors or gates. For purposes of this Section, "smoking" is defined as the carrying or smoking of any kind of lighted pipe, cigar, cigarette, or any other lighted smoking equipment. 29.6 Judicial Determination. If after good faith negotiations, the parties cannot agree upon modifications as provided in Sections 4.2 (a), 8.2 or 9.5, either party may petition the Superior Court of the State of Washington in and for Yakima County to have the issue determined by a judge of said court after a hearing at which each party may present evidence. Not withstanding the provisions of Section 20 which shall apply to all other action, in any judicial proceedings to determine such modifications, the Landlord and Tenant shall each bear its respective costs and expenses, including attorneys fees. SECTION 30 — HAZARDOUS MATERIALS 30.1 Hazardous Materials. Tenant shall not store, generate, treat or dispose of any hazardous substances or hazardous waste, on the Sports Complex; provided, however, that Tenant is permitted to bring onto the Sports Complex Hazardous Materials (defined below) contained in emergency back-up batteries, under the condition that Tenant will treat all such Hazardous Materials brought onto the Sports Complex by it in accordance with all applicable federal, state, and local laws and regulations. 30.2 Definition of "Hazardous Material". When used in this Agreement, the term "Hazardous Material" shall be defined to mean any substance or material defined or designated as hazardous or toxic waste, hazardous or toxic material, a hazardous, flammable explosive, corrosive, toxic, or radioactive substance, or other similar term, by any federal, state, or local environmental statute, regulation, or ordinance presently in effect or that may be promulgated in the future, as such statutes, regulations, and ordinances may be amended from time to time, including, but not limited to, the statutes listed below: (a) Federal Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6901 et seq. (b) Federal Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. § 9601 et seq. (c) Federal Clean Air Act, 42 U.S.C. § 7401-7626. (d) Federal Water Pollution Control Act, Federal Clean Water Act of 1977, 33 U.S.C. § 1257 et seq. (e) Federal Insecticide, Fungicide, and Rodenticide Act, Fed. Pesticide Act of 1978, 7 U.S.C. § 13 et seq. (f) Federal Toxic Substance Control Act, 15 U.S.C. § 2601 et seq. (g) Federal Safe Drinking Water Act, 42 U.S.C. § 3000(0 et seq. 35 8/16/2001 12:17 PM (h) Washington Clean Air Act, RCW Chapter 70.94. (i) Washington Solid Waste Management -Recovery and Recycling Act, RCW Chapter 70.95. (j) Washington Model Toxics Control Act, RCW Chapter 70.105D. (k) Washington Hazardous Waste Fees Act, RCW Chapter 70.105.A. (1) Washington Nuclear Energy and Radiation Act, RCW Chapter 70.98. (m) Washington Radioactive Waste Storage and Transportation Act of 1980, RCW Chapter 70.99. 30.3 Tenant Indemnity. Tenant shall indemnify, protect, hold harmless and defend the Landlord, its elected officials, council members, officers, employees, agents and volunteers from and against any and all liability (including reasonable attorneys' fees), directly or indirectly arising from (a) the use, generation, storage or disposal of Hazardous Materials by Tenant, and (b) the cost of any required or necessary repair, cleanup or detoxification and the preparation of any closure or other required plans, to the full extent that such liability is attributable, directly or indirectly, to the presence or use, generation, storage, release, threatened release or disposal of Hazardous Materials on or with respect to the Sports Complex after the Term Commencement Date or by Tenant, its officers, employees, agents and/or invitees on or with respect to the Sports Complex after the Term Commencement Date. 30.4 Landlord Indemnity. Landlord shall indemnify, protect, hold harmless and defend the Tenant, BLD USA and their officers, directors, members and employees from and against any and all liability (including reasonable attorneys' fees), directly or indirectly arising from the use, generation, storage or disposal of Hazardous Materials to the full extent that such liability is attributable, directly or indirectly, to the presence or use, generation, storage, release, threatened release or disposal of Hazardous Materials on or with respect to the Sports Complex prior to the Term Commencement Date or from the actions of the Landlord or the Landlord's elected officials, officers, employees, agents or volunteers that result in Hazardous Materials being brought to the Sports Complex after the Term Commencement Date. 30.5 Tenant Release. Other than indemnity claims under Section 30.4 above, Tenant releases the Landlord from any and all claims Tenant may have against the Landlord of whatever kind or nature resulting from or in any way connected with the environmental condition of the Sports Complex, including any and all claims Tenant may have against the Landlord under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended ("CERCLA"), or any other federal, state, or local law, whether statutory or common law, ordinance, or regulation pertaining to the release of Hazardous Materials into the environment from or at the Sports Complex. 30.6 Survival of Obligations. Tenant's and Landlord's obligations under this Section shall survive termination or expiration of this Agreement. 36 8/16/2001 1:03 PM SECTION 31 - MISCELLANEOUS 31.1 Governing Law: Venue. This Agreement shall be construed and interpreted in accordance with the laws of the State of Washington. Venue of any action arising from or related to this Agreement shall lie in Yakima County, Washington. 31.2 Time is of the Essence. Time is of the essence herein. 31.3 Additional Rent. Any monetary obligations of Tenant to Landlord under the terms of this Agreement shall be deemed to be rent. 31.4 Quiet Enjoyment. Upon Tenant's paying the Percentage Rent and other sums provided hereunder, and observing and performing all of the covenants, conditions and provisions on Tenant's part to be observed and performed hereunder, Tenant shall enjoy the quiet possession of the Sports Complex for the entire Term hereof, subject to all of the provisions of this Agreement. 31.5 Waivers. The waiver by Landlord or Tenant of any breach by the other party of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition or any subsequent breach of the same or any other term, covenant or condition herein contained. The subsequent acceptance of all or part of the rent due hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant or condition of this Agreement, other than the failure to pay the particular rent so accepted, regardless of Landlord's knowledge of such preceding breach at the time of acceptance of such rent. Acceptance by Landlord of a part payment of the rent or any other sum due shall not be construed as a waiver by Landlord of any rights to collect the balance of the rent due unless Landlord has executed a specific written waiver of the specific amount due on an instrument separate from the check by which the payment is tendered. 31.6 Brokers. Each party warrants to and for the benefit of the other that it has had no dealings with any real estate broker or other agent (attorneys excepted) in connection with the negotiation or making of this Agreement. Landlord shall indemnify Tenant for breaches by Landlord of this warranty, and Tenant shall indemnify Landlord for any breaches by Tenant of this warranty. 31.7 Headings. The captions of the various sections of this Agreement are for convenience and ease of reference only and do not define, limit, augment or describe the scope, contents or intent of this Agreement or of any part or parts of this Agreement. 31.8 Consents of Landlord. Neither Landlord's execution of this Agreement nor any consent or approval given by Landlord hereunder in its capacity as Landlord shall waive, abridge, impair or otherwise affect Landlord's powers and duties as a governmental body. Any requirements under this Agreement that Tenant obtain consents or approvals of Landlord are in addition to and not in lieu of any requirements of law that Tenant obtain approvals, licenses or permits. 37 8/16/2001 12:17 PM 31.9 Merger. The voluntary or other surrender of this Agreement by Tenant, or a mutual cancellation thereof, or a termination by Landlord, shall not work a merger, but instead, at the option of Landlord, shall either terminate all or any existing subtenancies, or at the option of Landlord, operate as an assignment to Landlord of any or all of such subtenancies. 31.10 Gender: Number. The neuter gender includes the feminine and masculine, the masculine includes the feminine and neuter, and the feminine includes the masculine and neuter, and each includes corporations, partnerships and other legal entities whenever the context so requires. The singular number includes the plural whenever the context so requires. 31.11 No Joint Venture. Nothing contained herein shall be construed to render the Landlord in any way or for any purpose a partner, joint venturer or associated in any relationship with Tenant other than that of Landlord and Tenant, nor shall this Agreement be construed to authorize either party to act as agent for the other, or to make Landlord in any way responsible for the liabilities, debts or losses of Tenant. 31.12 Exhibits. All exhibits to which reference is made in this Agreement are hereby incorporated by reference in full. Any reference to "this Agreement" includes matters incorporated by reference. 31.13 Entire Agreement: Modification. This Agreement contains the entire agreement between the parties with respect to the lease of the Sports Complex. No verbal agreement or implied covenant shall be held to vary the provisions hereof, any statements, law or custom to the contrary notwithstanding. No promise, representation, warranty or covenant not included in this Agreement has been or is relied on by either party. Each party has relied on its own inspection of the Sports Complex and examination of this Agreement, the counsel of its own advisors and the warranties, representations and covenants in this Agreement itself. The failure or refusal of either party to inspect the Sports Complex, to read this Agreement or other documents or to obtain legal or other advice relevant to this transaction constitutes a waiver of any objection, contention or claim that might have been based on such reading, inspection or advice. No provision of this Agreement may be amended or varied except by an agreement in writing signed by the Parties and the lender under a permitted first leasehold encumbrance or their respective permitted successors. 31.14 Joint and Several Obligations. If more than one person or entity is Tenant herein, the obligations imposed on such parties shall be joint and several. 31.15 Severability. The invalidity or illegality of any provision shall not affect the remainder of this Agreement and all remaining provisions shall, notwithstanding any such invalidity or illegality, continue in full force and effect. 31.16 Recordation of Memorandum of Lease. This Agreement shall not be recorded without Landlord's consent. A Memorandum of this Agreement (the "Memorandum of Lease") shall be recorded in the Official Records of Yakima County, Washington, within thirty (30) days after the execution of this Agreement. 38 8/16/2001 12:17 PM 31.17 Execution in Counterparts. This Agreement, or the Memorandum of Lease, or both, may be executed in two or more counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 31.18 Date of Agreement. The date of this Agreement shall be the date it is signed by the Landlord. IN WITNESS WHEREOF, the undersigned have executed this Agreement effective as of the date on which this Agreement is executed by the Landlord. Landlord: CITY OF YAKIMA Dated: By: Richard A. Zais, Jr. City Manager ATTEST: City Clerk Tenant: BIG LEAGUE DREAMS YAKIMA, LLC By: Scott Parks LeTellier Chief Executive Officer 8/16/2001 12:17 PM 39 STATE OF CALIFORNIA ) ) ss COUNTY OF ) I certify that I know or have satisfactory evidence that Scott Parks LeTellier is the person who appeared before me and said person acknowledged that he signed this instrument and on oath stated he was authorized to execute the instrument and acknowledged it as the Chief Executive Officer of Big League Dreams Yakima, LLC, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: STATE OF WASHINGTON ) ) COUNTY OF YAKIMA ) ss F -print name NOTARY PUBLIC in and for the State of My appointment expires: I certify that I know or have satisfactory evidence that Richard A. Zais, Jr. and Karen Roberts are the persons who appeared before me, and said persons acknowledged that they signed this instrument, and on oath stated that they were authorized to execute the instrument and acknowledged it as the City Manager and Clerk, respectively, of the City of Yakima, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: Sprint name NOTARY PUBLIC in and for the State of Washington My appointment expires: 40 8/16/2001 12:17 PM EXHIBIT 1 PLOT PLAN OF LAND 8/16/2001 3:02 PM 41 1 C'iptitOr-, '1 t .16. er- ifit aervkaarea Yakima Sports Complex Digital Color Orthophotography flown 07/18/1998 o4.1 01 YpA�� Vim.. .tiO w s / 4 `44/0s .* Scale —lin = 400ft • • O 0 200 400 Created: August 16, 2001 EXHIBIT 2 LEGAL DESCRIPTION OF LAND 8/16/2001 3:02 PM 42 191320-23030, 23036, 23037, 24014 The East 300 feet of the South 396 feet of theSouthwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M., EXCEPT the South 30 feet for street. Also The West 475 feet of the Southeast quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M., EXCEPT the South 30 feet for street. AND The South 396 feet of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M., EXCEPTING the West 30 feet for street and EXCEPTING that portion lying within East Maple Street on the South. AND The East 185 feet of the Southeast quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M., together with appurtenances there belonging, less roads. AND The East quarter of the South quarter of the North 132 feet of the North half of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M., and the East half of the North half of the South 132 feet of the North half of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M. AND The East half of the North 66 feet of the North half of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M. AND The West half of the East half of the South half of the North 132 feet of the North half of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M. AND The East half of the South 66 feet of the North 198 feet of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M. AND The East half of the North half of the South 132 feet of the North half of the Southwest quarter of the Southwest quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M. AND Lot 1, Block 1, Goldenview Addition to North Yakima, now Yakima, according to the plat thereof recorded in Volume "D" of plats, page 29, records of Yakima County, Washington, EXCEPT right of way of Old Union Ditch and EXCEPT the West 20 feet for County Road. AND The West half of the Northwest quarter of the Southwest Quarter of the Southeast quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M., EXCEPT the North 157.5 feet thereof, EXCEPT the West 20 feet for County Road, and EXCEPT portion conveyed to the State of Washington for Primary State Highway No. 3, by instrument recorded in Volume 599 of Deeds, Auditor's File No. 1791537. AND The Southwest quarter of the Southwest quarter of the Southeast quarter of the Northwest quarter of Section 20, Township 13 North, Range 19, E.W.M. LESS the South and West 20 feet for roads; and EXCEPT portion acquired by the State of Washington for Primary State Highway No. 3, by Yakima County Superior Court Case No. 45396; SUBJECT TO relinquishment of right of access to State Highway and of light, view and air, under terms of Yakima County Superior Court Case No. 45396 191320-31014 The North 250 feet of the following described property: Beginning at the Northwest corner of the Northeast 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M.; thence East 159.2 feet; thence South 545.3 feet; thence West 159.2 feet; thence North 547.3 feet to the point of beginning. 191320-32400 The North 1/2 of Lot 1, of Chalmers Garden Tracts, according to the official plat thereof recorded in Volume "H" of Plats, Page 25, records of Yakima County, Washington, EXCEPT that portion conveyed to State of Washington for highway purposes by deed recorded under Auditor's File No. 1787461. 191320-32001 That portion of the Northeast quarter of the Northwest quarter of the Southwest quarter of Section 20, Township 13, North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street, 112.7 feet North of the Southeast corner of said subdivision; thence West 130 feet; thence North 430 feet to the true point of beginning; thence East 100 feet; thence North 99 feet, more or less, to the South line of Maple Street; thence West along said South line 100 feet; thence South 99 feet, more or less, to the true point of beginning. 191320-32011 The North half of the following described tract of land: Beginning at an iron pin 112.7 feet North of the Southeast corner of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M.; thence North 89° 49' West 130 feet to the true point of beginning; thence North 89° 49' West 100 feet, thence North 550.3 feet; thence South 89° 03' East 100 feet; thence South 550.3 feet to the true point of beginning. EXCEPT the North 20 feet of said North half conveyed to Yakima County for road purposes. 191320-31402 The North 260.1 feet of Lot 2, Chalmers Garden Tracts, according to the official plat thereof, recorded in Volume "H" of Plat, Page 25, records of Yakima County, Washington, EXCEPT that portion conveyed to the State of Washington by deed recorded under Auditor's File Number 1787473. 191320-31443 Lot 1 of Short Plat 88-36, as recorded under Auditor's File Number 2825190, records of Yakima County, Washington. 191320-32010 The South half of the following tract of land: Beginning at an iron pin 112.7 feet North of the Southeast corner of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4, Section 20, Township 13 North, Range 19, E.W.M.; thence North 89° 49' West 130 feet to the true point of beginning; thence North 89° 49' West 100 feet; thence North 550.3 feet; thence South 89° 03' East 100 feet; thence South 550.3 feet to the true point of beginning. EXCEPT the South 141 feet of the East 36 feet of said South 1/2. Situate in Yakima County, Washington. 191320-32009 Beginning at an iron pin 112.7 feet North of the Southeast corner of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M; hence North 89° 40' West 130 feet to the true point of beginning; hence North 89° 49' West 36 feet; hence North 141 feet; hence South 89° 03' East 36 feet; hence South 141 feet to the true point of beginning. Situate in Yakima County, Washington. 191320-32030 That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street 112.7 feet North of the Southeast corner of said subdivision; thence West 130 feet; thence North 625 feet, to the true point of beginning; thence East 100 feet; thence North 65 feet; thence West 100 feet; thence South 65 feet, to the true point of beginning. AND The South 40 feet of the following described property: That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4, Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street, 112.7 feet North of the Southeast corner of said subdivision; thence West 130 feet; thence North 390 feet, to the true point of beginning; thence East 100 feet; thence North 150 feet, more or less, to the South line of Maple Street; thence West along said South line, 100 feet; thence South 159 feet, more or less, to the true point of beginning. Situate in Yakima County, Washington. 191320-32035 That portion of the Northeast 114 of the Northwest 114 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street 112.7 feet North of the Southeast corner of said subdivision; thence West 130 feet; thence North 195 feet to the true point of beginning; thence East 100 feet; thence North 65 feet; thence West 100 feet; thence South 65 feet to the true point of beginning; AND The South 65 feet of the North 287.8 feet of the West 100 feet of the East 130 feet of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, EW.M. Situate in Yakima County, Washington. 191320-23032 The South 65 feet of the North 417.8 feet of the West 100 feet of the East 130 feet of the Northwest 1/4 of the Southwest 114 of Section 20, Township 13 North, Range 19, E.W.M. Situate in Yakima County, Washington. 191320-32033 That portion of the Northeast 114 of the Northwest 1M of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street, 112.7 feet North of the Southeast corner of said subdivision; thence West along the North line of Beech Street 130 feet; thence North 65 feet to the true point of beginning; thence North 65 feet; thence East 100 feet; thence South 65 feet; thence West 100 feet to the point of beginning. Situate in Yakima County, Washington. 191320-32008 That portion of the Northeast 114 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: The South 65 feet of the following: Beginning at a point on the North line of Beech Street 112.7 feet North of the Southeast comer of said subdivision; thence West 30 feet, to the true point of beginning; thence West along the North line of said Beech Street 100 feet thence North 549 feet, more or less, to the South line of Maple Street; thence East along the South line of Maple Street 100 feet; thence South 547.7 feet, more or less, to the true point of beginning; also known as the South 65 feet of Lot 6 of the unrecorded Plat of Sumach Tracts No. 2. Situate in Yakima County, Washington. 191320-31012 That portion of the Northeast 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at the Northwest corner of said subdivision; thence East 159.2 feet; thence South 545.3 feet; thence West 159.2 feet; thence North 547.3 feet to the point of beginning, EXCEPT the North 250 feet thereof. Situate in Yakima County, Washington. 191320-31444 Lot 2 of Short Plat filed in Book 88 of Short Plats, Page 38, under Auditor's File No. 2825190, records of Yakima County, Washington. 191320-31403, 31407 Lot 2, EXCEPT the North 260.1 feet and all of Lot 5, CHALMER'S GARDEN TRACTS, recorded in Volume "H" of. Plats, Page 25, records of Yakima County, Washington! EXCEPT that portion conveyed to the State of Washington, by deed recorded in Volume 598 of Deeds, under Auditor's File No. 1787479, records of Yakima County, Washington. 191320-31405 That part of Lot 4, CHALMERS GARDEN TRACTS, recorded in Volume "H" of Plats, Page 25, records of Yakima County, Washington, lying Southwesterly of a line drawn parallel with and 110 feet Southwesterly, when measured at right angles and or radially, from the L Line Survey of SR 82, East Yakima Avenue to Union Gap. 191320-32505, 32506, 32507, 32508, 32509, 32532, 32533, 32534, 32235, 32536, 32537 Lots 1, 2, 3, 4 and 5; An undivided 3/5 interest in Lots 6, 7, 8 and 9; Lots 10, 11 and 12, all in MAPT F. STREET ADDITION, recorded in Volume "0.' of Plats, Page 10, records of Yakima County, Washington. 191320-32013 The West half of the following described property: Beginning at an iron pin 112.7 feet North of the Southeast comer of the Northeast 1/4 of the Northwest 1/4 of the Southwest 114 of Section 20, Township 13 North, Range 19 E.W.M.; thence North 89° 49' West 230 feet to the true point of beginning d the lands to be described; thence North 89° 49' West 100 feet; thence North 551.7 feet; thence South 89°49' East 100 feet; thence South 550.3 feet to the point of beginning; EXCEPTING the South 335 feet thereof EXCEPTING right-of-way for county road along the North fine of said premises. Situate in Yakima County, Washington. 191320-32014 Beginning at an iron pin 112.7 feet North of the Southeast comer of the Northeast 114 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M.; thence running North 89° 49' West 330 feet; thence North 250 feet to the true point of beginning; thence North 85 feet; thence South 89° 03' East 100 feet; thence South 85 feet; thence North 89° 49' West 100 feet to the true point of beginning. Situate in Yakima County, Washington. 191320-32016 A Tract of land tying in Section 20, Township 13 North, Page 19, E.W.M., and more particularly described as follows: Beginning at an iron pin 112.7 feet North of the Southeast corner of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20; thence North 89° 49 West 280 feet to the true point of beginning of the Tract herein described; thence North 89° 49' West 50 feet thence North 250 feet; thence South 89° 03' East 50 feet; thence South 250 feet to the true point of beginning. Situate in Yakima County, Washington. 191320-32010 The South half of the following tract of land: Beginning at an iron pin 112.7 feet North of the Southeast corner of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4, Section 20, Township 13 North, Range 19, E.W.M.; thence North 89° 49' West 130 feet to the true point of beginning; thence North 89° 49' West 100 feet; thence North 550.3 feet; thence South 89° 03' East 100 feet; thence South 550.3 feet to the true point of beginning. EXCEPT the South 141 feet of the East 36 feet of said South 1/2 Situate in Yakima County, Washington. 191320-32009 Beginning at an iron pin 112.7 feet North of the Southeast corner of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M; hence North 89° 40' West 130 feet to the true point of beginning; thence North 89° 49' West 36 feet; thence North 141 feet; hence South 89° 03' East 36 feet; thence South 141 feet to the true point of beginning. Situate in Yakima County, Washington. 191320-32030 That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street 112.7 feet North of the Southeast corner of said subdivision; thence West 130 feet; thence North 625 feet, to the true point of beginning; thence East 100 feet; thence North 65 feet; thence West 100 feet; thence South 65 feet, to the true point of beginning. AND The South 40 feet of the following described property: That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4, Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street, 112.7 feet North of the Southeast corner of said subdivision; thence West 130 feet; thence North 390 feet, to the true point of beginning; thence East 100 feet; thence North 150 feet, more or less, to the South line of Maple Street; thence West along said South line, 100 feet; thence South 159 feet, more or less, to the true point of beginning. Situate in Yakima County, Washington. 191320-32035 That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street 112.7 feet North of the Southeast comer of said subdivision; thence West 130 feet; thence North 195 feet to the true point of beginning; thence East 100 feet; thence North 65 feet; thence West 100 feet; thence South 65 feet to the true point of beginning; AND The South 65 feet of the North 287.8 feet of the West 100 feet of the East 130 feet of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, EW.M. Situate in Yakima County, Washington. 191320-23032 The South 65 feet of the North 417.8 feet of the West 100 feet of the East 130 feet of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M. Situate in Yakima County, Washington. 191320-32033 That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North Range 19, E.W.M., described as follows: Beginning at a point on the North line of Beech Street, 112.7 feet North of the Southeast corner of said subdivision; thence West along the North line of Beech Street 130 feet; thence North 65 feet to the true point of beginning; thence North 65 feet; thence East 100 feet; thence South 65 feet; thence West 100 feet to the point of beginning. Situate in Yakima County, Washington. 191320-32008 That portion of the Northeast 1/4 of the Northwest 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: The South 65 feet of the following: Beginning at a point on the North line of Beech Street 112.7 feet North of the Southeast comer of said subdivision; thence West 30 feet, to the true point of beginning; thence West along the North line of said Beech Street 100 feet thence North 549 feet, more or less, to the South line of Maple Street; thence East along the South line of Maple Street 100 feet; thence South 547.7 feet, more or less, to the true point of beginning; also known as the South 65 feet of Lot 6 of the unrecorded Plat of Sumach Tracts No. 2. Situate in Yakima County, Washington. 191320-31012 That portion of the Northeast 1/4 of the Southwest 1/4 of Section 20, Township 13 North, Range 19, E.W.M., described as follows: Beginning at the Northwest comer of said subdivision; thence East 159.2 feet; thence South 545.3 feet; thence West 159.2 feet; thence North 547.3 feet to the point of beginning, EXCEPT the North 250 feet thereof. Situate in Yakima County, Washington. 191320-31444 Lot 2 of Short Plat filed in Book 88 of Short Plats, Page 38, under Auditor's File No. 2825190, records of Yakima County, Washington. 191320-31403, 31407 Lot 2, EXCEPT the North 260.1 feet and all of Lot 5, CHALMER'S GARDEN TRACTS, recorded in Volume "H" of. Plats, Page 25, records of Yakima County, Washington! EXCEPT that portion conveyed to the State of Washington, by deed recorded in Volume 598 of Deeds, under Auditor's File No. 1787479, records of Yakima County, Washington. 191320-31405 That part of Lot 4, CHALMERS GARDEN TRACTS, recorded in Volume "H" of Plats, Page 25, records of Yakima County, Washington, lying Southwesterly of a line drawn parallel with and 110 feet Southwesterly, when measured at right angles and or radially, from the L Line Survey of SR 82, East Yakima Avenue to Union Gap. EXHIBIT 3 PROJECT DESCRIPTION 8/16/2001 3:02 PM 43 EXHIBIT 3 PROJECT DESCRIPTION The Big League Dreams Yakima Sports Park is designed to be a world-class facility featuring unique Big League Dreams state -of -the art and proprietary themes and design features, and is intended to be a destination park, attracting tournament teams (youth and adult) from all over the country. First and foremost, however, it is planned to provide local families with a spectacular family entertainment value. The City of Yakima will be adding significant tourism while enhancing its reputation as a stable, family -friendly city. The Yakima Big League Dreams facility would contain the following elements, all constructed to a first class standard with high quality building materials: 1. Three youth baseball/adult softball professional baseball stadium replicas. 2. Two additional youth baseball/adult softball minor league (i.e. non -replica) fields, one of which may be designed to accommodate adult regulation baseball as well. 3. A nine -station batting cage combined with an instructional academy area. 4. One multi -sport pavilion designed to accommodate inline hockey, basketball, indoor soccer, indoor volleyball and corporate and special events. 5. A playground and a picnic area. 6. The Stadium Club -- a food and beverage (both alcoholic and non-alcoholic) family -type sports restaurant, designed and operated to attract and accommodate league, tournament and corporate users. 7. An additional concession/patio facility for the minor league fields. 8. Parking for 325 to 350 automobiles. Finance/Sports Complex BLD Exhibit 3.doc EXHIBIT 4 FURNISHINGS, FIXTURES AND EQUIPMENT 44 8/16/2001 3:02 PM Big League Dreams Yakima Sports Park Lease # Ea. FURNISHINGS. FIXTURES AND EQUIPMENT Some of the Kitchen/Concession FF&E will be provided as per the Plans and Specifications and shall include smallwares, storage shelving, safes and point-of-sale systems. Description A. Restaurant - Building A # Ea. Description 5 Booths Booth Stools Swivel Bar Stools Arm Chairs ATM Machine 60" Television Sets Wall Clock Baby Changing Counter Window Louvers/Shades 15 30" x 49" Tables 12 12 30" x 30" Tables 26 27 Table Base 110 1 Credit Card Machine 1 3 Menu Board/Signs 3 6 36" Television Sets 1 1 Music and P.A. Systems 1 Decorative Flags Art/Graphics # Ea. Description B. Office # Ea. Description 2 15 2 Copy Machines Computers Fax Machines Desks, Chairs as needed Filing Cabinets as needed Storage Cabinets 1 Credit Card Machine 2 Printers 1 Safe 1 Conference Table, chairs 1 P.A./Music System Waste Baskets Big League Dreams Yakima Sports Park Lease # Ea. Description C. Corporate/Special Event # Ea. Description 500 3 1 3 Chairs Portable Bars 20' x 20' Party Tent Portable Food Warmers # Ea. Description 50 Tables 30 Baseball Gloves 2 3 10' x 10' Party Tents Portable Barbecues D. Batting Cage # Ea. Description 1 1 15 # Ea. 1 1 # Ea. Complete Master Pitch Equipment Package Change Machine Helmets Description Point -of -Sale System Counter/Fixtures Storage Racks 1 Repair Kit/Parts 15 Bats 120 Dozen Balls E. Retail # Ea. Description Description 1 Computer/Printer Display Shelves F. Maintenance # Ea. Description 1 Gang Mower 1 Triplex Mower 1 Toro #3100 Vehicle 1 Verti-Drain 1 John Deere Groomer 1 Front -Load Tractor 1 Sweeper 1 Sodcutter 1 Aerator 1 Topdresser 1 Fertilizer Spreader 4 Golf Carts/Utility Beds 1 Floor Scrubber 1 Toro 22" Mower 2 McClane Edgers 2 Backpack Blowers 1 1 Rotary Spreader 1 Drop Spreader 2 Wheelbarrows 2 Pressure Washer 1 Chemical Sprayer 1 Roto Tiller 3 Weedeaters 4 Landscape Rakes 4 Leaf Rakes 4 Square -Nosed Shovels 4 Pointed Shovels 2 Large Shovels 2 6" Trenching Shovels 4 24" Push Brooms 4 50' Hoses 2 Regular Brooms 2 Weed Hoes 1 Pole Pruner 1 Tree Pruner 2 Tree Hand Saws 1 Power Chain Saw Big League Dreams Yakima Sports Park Lease 1 Pitch Fork 1 Hand Pump 6 Wrenches, assorted Easy -outs, assorted 2 Pipe Saws 1 PSI Gauge 5 Quick Coupler Keys 4 2.5 Gallon Gas Cans 2 Nail Drags 2 Infield Drags 2 Chalkers 2 Batters Box Frames 2 100' Tapes 2 400' String Reels 1 " Electric Hammer 1 1/4 " Portable Drill 1 Tool Box 1 4 " Grinder 1 7" Power Saw 1 Impact Wrench Set 1 Electric Multi -Tester Pliers/Tools, assorted 4 Extension Cords 1 Electric Pump 2 Vacuum Cleaners Trash Receptacles, asst. 6 Hand -Held Radios Storage Shelves, asst. 1 Spray Rig 1 Welding Equipment # Ea. Description G. Sports # Ea. Description # Ea. 1 8 1 Description Playground Equipment, as per plans Picnic Tables Parking Netting, as per plans Fan Shade Nets, as per plans Security System Ash Trays/Urns Telephone and Voicemail Systems H. Miscellaneous # Ea. Description Safety Netting, as per plans 1 1 Drinking Fountains, as per plans Entry Turnstile Bike Rack 2 Mist System, as per plans Instruction School Equipment Soccer Goals, as per plans Basketballs Volleyball Nets/Poles 2500' Sport fence Pitching Rubbers single Bases Base Mounts Portable P.A. System Electric Basketball Scoreboards Bulletin Boards Backstop Netting, as per plans Video Camera 2 Hockey Goals 6 4 4 Basketball Backboards/Goals 7 Home Plates 7 7 Portable Mounds 23 9 Double Bases 90 14 Bat Racks 1 6 Electric Baseball Scoreboards 2 10 Scoreboard Controllers 4 Player Benches, as per plans 6 Portable Bleachers, as per plans VCR Player 1 1 # Ea. 1 8 1 Description Playground Equipment, as per plans Picnic Tables Parking Netting, as per plans Fan Shade Nets, as per plans Security System Ash Trays/Urns Telephone and Voicemail Systems H. Miscellaneous # Ea. Description Safety Netting, as per plans 1 1 Drinking Fountains, as per plans Entry Turnstile Bike Rack 2 Mist System, as per plans Instruction School Equipment EXHIBIT 7 DEPICTION OF TERRITORIAL RESTRICTIONS 45 8/16/2001 3:02 PM Pot Aliens a A • 4 C D E O 11 Nana va.v, w.. V1u •«.dlam 3 ."J Richmond SR ITIS 11 :;\ / C 0 L Y , l 1 A ii T5 75 al Is, l.AM JUAN -d-r- 333 4. M _g P101 1 0111LL[11 !.1jsv[ws A' 0 )10111111 C -E ssro ;Ifs, 0 II °O y11A / 10 T I N,r•^' I 1 i Washington State Highways 2000-2001 - w • . gid.=. .� 0 .,,.,,i. — SONE Vv.. st Olympia .1•• • 1 0,,. m.11...v.. • -G BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 1 For Meeting Of: August 21, 2001 ITEM TITLE: Resolution authorizing the City Manager to execute a Sports Complex Lease between the City of Yakima and Big League Dreams Yakima, LLC SUBMITTED BY: City Management City Council Sports Complex Lease Negotiating Committee CONTACT PERSONS/TELEPHONE: Dick Zais, City Manager, 575-6040 Mary Place, Mayor, 575-6040 Rita Anson, Director Finance, 575-6070 Bernie Sims, Council Member, 575-6040 Ray Paolella, City Attorney, 575-6030 John Puccinelli, Council Member, 575-6040 SUMMARY EXPLANATION: To negotiate a lease with Big League Dreams ("BLD"), Mayor Place and Council Members Sims and Puccinelli convened a negotiating committee that includes Scott Wagner, Mel Wagner, Greg Luring, Keith Riffe, from local service clubs, and Mike Nixon and Tom Hurson from the Parks Commission. The committee has received extensive technical support from City Staff including Dick Zais, Glenn Rice, Ray Paolella, Rita Anson, Tim Jensen, Chris Waarvick, Denise Nichols, and Larry Peterson. Attorney Scott Beyer, of Menke Jackson Beyer Elofson & Ehlis, LLP, has served in a primary role drafting and negotiating on behalf of the City. The proposed Sports Complex Lease has resulted from a process described below. Based upon our negotiations with BLD, staff believes the proposed lease, as a whole, is more favorable to and better protects the City of Yakima than comparable sports parks leases between BLD and California municipalities. Five examples of terms we believe demonstrate the advantages of the proposed lease are: 1. Lease payments are 10% of gross revenue 2. Non -competition within the entire state of Washington Continued ... Resolution X Ordinance Other (Specify) Contract X Mail to (name and address): Mr. Scott Parks LeTellier, CEO, BLD USA, 10550 Galena Street, Mira Loma, Calif. 91752-3261 Phone: (310) 378-1984 Funding Source (a) Lease Agreement - N/ A APPROVED FOR SUBMITTAL: City Manager STAFF RECOMMENDATION: This is a policy issue. Staff respectfully requests Council consideration and direction regarding the proposed Sports Complex Lease. LEASE NEGOTIATING COMMITTEE RECOMMENDATION: Approval of the proposed Sports Complex Lease is recommended to the City Council by a strong consensus of the Lease Negotiating Committee. COUNCIL ACTION: Resolution adopted. RESOLUTION NO. R-2001-121 Agenda Statement: Sports Complex Lease August 21, 2001 Page -2 3. License Fee deferral and reimbursement in event of default 4. Broader Indemnification 5. Increased Insurance Approximately seven more parcels will be added to the Sports Complex Lease by addendum after the City completes all necessary property acquisitions. On May 1, 2001, Council adopted a resolution to place a measure on the September ballot that, if approved by the voters, would authorize the City Council to increase electric, gas and phone utility tax rates from 6% to 7%. Revenues from this voter -approved tax rate increase would be utilized to pay the debt service on construction bonds that would be issued to build a Sports Complex. If the voters approve the tax rate increase, and the Sports Complex is built as planned, the City proposes to lease the facility to Big League Dreams to operate and maintain the Sports Complex, under the attached Sports Complex Lease Agreement. BLD will grant the City of Yakima a non-exclusive right to use the Big League Dreams "Name and Marks" and "Total Image" (collectively referred to as the "BLD Intellectual Property") on terms and conditions set of a separate License Agreement. BLD has invested significant financial and management resources to develop, protect and create value in its stadium replica concept and other BLD Intellectual Property. The License Agreement will be separately submitted to the City Council for review and approval at a future date, and will be conditioned upon voter approval of the utility tax increase on September 18, 2001. If the following conditions are not all satisfied on or before July 1, 2002, the expected License Agreement shall terminate as of such date. Under the terms of the proposed Lease and the expected license agreement, the City of Yakima will pay BLD USA $300,000 within thirty (30) days after all of the following conditions having been satisfied: a. Voter approval of the Utility Tax Measure, certified by the Yakima County Auditor; and b. City obtaining all land use and zoning permits and approval reasonably necessary for the development of the Project, with no right of appeal; and c. Approval by the City and BLD Yakima of Plans and Specifications and Budget for the Project, including Furniture, Fixtures and Equipment ("FF&E"); and d. The City issuing bonds at a rate per annum not to exceed 7.51 % for the Project, including furniture, fixtures and equipment ("FF&E"). Note: The timing of the payment of the license fee has been changed in this agreement from what was presented to Council at the April 2001 Study Session. At that time, the City anticipated that the license fee would be paid in the fourth year of operations of the Sports Park by way of BLD retaining $300,000 of the lease payment that BLD would otherwise have paid to the City. Under the expected terms of the License Agreement, the City will pay the license fee to BLD after the above conditions precedent have been satisfied; consequently, lease revenue will become payable from BLD to the City at the negotiated lease rate of 10% of gross revenues beginning in the fourth year of operations (rather than in year five as previously presented at the Council Study Session).