5.A1 Operations & Management Agreement

Home Browse Search

may exercise this discount privilege only for personal use, or for use by members of the employee=s immediate family, which is defined as including only the employee=s spouse and dependent children. The total annual discount purchases made by any employee shall not exceed the amount of the annual salary paid to the employee by Manager. Owner and Manager agree that no discount purchasing privileges shall be granted to Owner=s employees or to any public official. SECTION 21 DESTRUCTION OF GOLF COURSE 21.1 Partial Destruction. If, in the sole opinion of the Owner, the Golf Course is partially destroyed by any cause and can be repaired or restored to its prior condition and the destruction does not render the Golf Course unusable, this Management Agreement shall continue in full force and effect. The Owner shall, at its expense, promptly and diligently complete the restoration of the Golf Course to the same condition as of the Commencement Date of this Management Agreement, reasonable wear and tear excepted. 21.2 Reduction in Fixed Fee. Should the Course be unavailable for 30 or more consecutive days in any given Golf Season as a result of the partial destruction of the Golf Course or by reason of the Owner's election to repair or restore the Golf Course subsequent to partial destruction, the Fixed Fee shall be reduced $150 per day for each day beyond the 30 days that the Course in unavailable. 21.3 Total Destruction. In the event the Golf Course is totally destroyed, in the sole and reasonable opinion of the Owner, by fire or other casualty, the Owner may elect to suspend this Management Agreement. Such election shall be exercised by the Owner by giving written notice to the Manager within thirty (30) days after such destruction. If, after due consideration, the Owner elects not to restore the Golf Course to playable condition, this Management Agreement shall terminate at no penalty to either party. If and when the Owner does restore the Golf Course, this Management Agreement shall again be in force, effective 60 days prior to the scheduled re-opening of the Course, and continuing for the unexpired term that remained in the Management Agreement at the time it was suspended. In such event, Owner shall be responsible and liable for all costs associated with the closure, interim care, insurance, security, maintenance, and re- opening of the Golf Course, including, but not limited to, all costs associated with the dismissal and re-hiring of Manager's employees. RF('TTf1N ~~ SIGNAGE -30-