|
Parking Lot, and in lieu of monetary compensation. Southhold agrees to cooperate with. CC
<br />Board in affirmatively attracting convention business, other business opportunities, and in
<br />improving the economic impact of Century Center. upon the City.
<br />6. Limitation of Rights and Termination of Agreement. Southhold understands and
<br />agrees that the use rights granted under this agreement are temporary and do not constitute either
<br />a lease. or an interest in the Property. Southhold further understands and agrees that the rights
<br />granted. under this Agreement shall terminate without further action by the Commission upon the
<br />earlier of (i) cessation of Southhold's operation of the Courtyard by Marriott Hotel (ii)
<br />occurrence of a force majeure; (iii) inability of The Board or the Commission to continue
<br />providing the privilege described in this Agreement in which latter event the Board or
<br />Commission will provide Southhold with as much. advance notice as possible, but not less than
<br />sixty (60) days, (iv) conversion, whether actual or imininent, of the Parking Lot or any portion
<br />thereof, into another or different development opportunity; or {) if Suthhold, lV[arzottor It
<br />In their sole and absolute discretion, the CC Board or the BPW may also terminate this
<br />Agreement upon the CC Board's or the BPW's determination that one or more of the following
<br />(each a "Termination Event") has occurred or is occurring: (a) Southhold breaches any term,
<br />provision, or obligation under this Agreement; (b) Southhold's use of the Parking Spaces
<br />violates any term or provision of this Agreement or applicable law; (c) Southhold's use of the
<br />parking area harms or endangers public health, safety, or general welfare (d) Century Center's
<br />operations would be adversely affected by continued effect of this Agreement. Following
<br />determination that a Termination Event has occurred, the CC Board's or the BPW will give
<br />Southhold written notice of termination in care of: Mr. Anant Patel, 247 Dixieway North, South
<br />Bend, Indiana 46637.
<br />7. Repair. To the extent that any portion of the Property is disturbed in connection
<br />with the exercise of the privileges granted under this Agreement, Southhold shall restore the
<br />Property to the saine condition in which it was immediately prior to such disturbance to the
<br />satisfaction of the BPW.
<br />8. Hazardous Substance. Southhold will not permit, knowingly or unknowingly,
<br />any Hazardous Substance to be brought or remain upon, kept, used, discharged, leaked, or
<br />emitted at the Parking Lot. For purposes of this Agreement, "Hazardous Substance" means,
<br />without limitation, any substance, chemical, material or waste, whether solid, liquid, gaseous or
<br />thermal, (i) the presence of which causes a nuisance or trespass of any kind; (ii) which is
<br />regulated by any Environmental Law as defined herein because of its toxic, flammable,
<br />corrosive, reactive, carcinogenic, inutagenic, infectious, radioactive, or other hazardous property
<br />or because of its effect on the environment, natural resources or human health and safety,
<br />including, but not limited to, petroleum and petroleum products, polychlorinated byphenyls,
<br />trichloroethylene, trichloroethane and other chlorinated industrial solvents, and a volatile organic
<br />compounds; or (iii) which is designated, classified, or regulated as being a hazardous or toxic
<br />substance, material, pollutant, waste (or a similar such designation) under any federal, state or
<br />3
<br />
|