arena lease and management agreement city of glendale, arizona ...

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8.13 Accounting Procedures ....................................................................................... 37 8.14 Annual Budget .................................................................................................... 38 8.15 Revisions and Reallocations ............................................................................... 38 8.16 Financial Reports ............................................................................................... 39 8.17 Audit ................................................................................................................... 41 8.18 Litigation ............................................................................................................. 41 9. CHARGES AND FEES ................................................................................................... 42 9.1 City Surcharge .................................................................................................... 42 9.2 Separate Statement of Fees on Tickets ............................................................... 43 10. ARENA MANAGEMENT FEE; TAXATION ............................................................... 44 10.1 Management Fee ................................................................................................. 44 10.2 Status Discussion ................................................................................................ 44 10.3 Taxation of Transactions and Activities at Arena ............................................... 45 11. CAPITAL IMPROVEMENTS ........................................................................................ 45 11.1 Arena Manager’s Obligation .............................................................................. 45 11.2 Renewal and Replacement Schedule .................................................................. 45 11.3 Funding of Capital Improvements ...................................................................... 45 11.4 Budgeting for Capital Improvements.................................................................. 46 11.5 Renewal and Replacement Account ................................................................... 46 11.6 Emergencies ........................................................................................................ 46 11.7 City Rights .......................................................................................................... 47 11.8 Exclusive Team Spaces ...................................................................................... 48 11.9 Non-Budgeted Capital Improvements ................................................................ 48 11.10 Ownership of the Capital Improvements ............................................................ 48 11.11 Compliance with City Code ................................................................................ 48 11.12 Arena Manager or Team Owner Caused Lien .................................................... 48 iii
12. LENDER’S PROTECTION ............................................................................................ 49 12.1 Team Owner Lender’s Protection ....................................................................... 49 12.2 Arena Manager Lender’s Protection ................................................................... 50 12.3 Subordination to City Encumbrance ................................................................... 51 13. INSURANCE................................................................................................................... 51 13.1 Arena Manager Insurance ................................................................................... 51 13.2 City Insurance ..................................................................................................... 52 13.3 Team Owner Insurance ....................................................................................... 52 13.4 Waiver of Recovery ............................................................................................ 52 13.5 Failure to Maintain Insurance ............................................................................. 52 13.6 Notice .................................................................................................................. 53 13.7 Provisions ........................................................................................................... 53 13.8 Periodic Review and Adjustment ....................................................................... 53 14. DAMAGE OR DESTRUCTION ..................................................................................... 53 14.1 Terms .................................................................................................................. 53 14.2 Adequately Insured Damage ............................................................................... 54 14.3 Insurance Deficiency and Termination ............................................................... 54 14.4 Damage or Destruction Near End of Term ......................................................... 55 14.5 Abatement of Certain Team Owner Obligations ................................................ 55 15. EMINENT DOMAIN ...................................................................................................... 55 15.1 Terms .................................................................................................................. 55 15.2 Substantial Taking .............................................................................................. 56 15.3 Partial Taking ...................................................................................................... 56 15.4 Partial Taking Near End of Term ....................................................................... 57 15.5 Abatement of Certain Team Owner Obligations ................................................ 57 15.6 No Condemnation by City .................................................................................. 57 iv
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arena lease and management agreement city of glendale, arizona ...

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