HomeMy WebLinkAbout10/1/2003 - STAFF REPORTS (10) FOURTH AMENDMENT TO MANAGEMENT AGREEMENT
This Fourth Amendment to Management Agreement ("Fourth Amendment") is
made effective as of September 2003,by and between SMG, a Pennsylvania general
partnership, ("Manager") and the City of Palm Springs, a California municipal
corporation ("City").
RECITALS:
1. On or about April 1, 1992,Manager's predecessor in interest, Leisure
Management International, and the City entered into a management agreement for the
Palm Springs Convention Center ("Management Agreement").
2. On or about August 1, 1994, the parties entered into the"First
Amendment to the Management Agreement" ("First Amendment"), whereby the
parties agreed to extend the initial term of the Management Agreement to July 31, 1999.
3. On or about April 15, 1998, the parties entered into the "Second
Amendment to Management Agreement" ("Second Amendment"),whereby the parties
agreed to an amendment extending the tern of the agreement beyond that set out in the
First Amendment and through to June 30, 2003, and amended and further defined the
duties of the parties in the management, operation, promotion, and marketing of the
"Facility."
4. On or about June 18, 2003 (City Council approval), the parties entered into
that certain Third Amendment to Management Agreement ("Third Amendment"),
whereby the parties extended the agreement to September 30, 2003 to allow the parties
to negotiate a new and restated agreement which shall supercede the Management
Agreement.
5. The parties are currently negotiating the new agreement in good faith.
Due to the complexity of the issues involved,the parties will nevertheless need to
extend the existing agreement for a period of sixty (60) days as the parties anticipate
that a new and restated agreement will not be prepared and ready for action until the
end of November.
6. Accordingly, until the new and restated agreement is in place,the parties
desire to amend the Management Agreement to extend the term for a period of sixty
(60) days.
NOW, THEREFORE,for good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:
Doe.#720702v.2
1. Term. The term of the Management Agreement is extended for sixty (60)
days to November 30, 2003 or until it has been superceded by the amended and restated
agreement.
2. Full Force and Effect. Except as set forth herein,every provision of the
Management Agreement and all amendments thereto, shall remain unmodified and in
full force and effect for the direction of the term as revised herein.
IN WITNESS WHEREOF, the parties have executed and entered into this Fourth
Amendment as of the date first written above.
CITY OF PALM SPRINGS, a municipal
corporation .
By:
City Manager
ATTEST: SMG, a Pennsylvania general
partnership
By:
City Clerk Name
Title
APPROVED AS TO FORM:
City Attorney
[END OF SIGNATURES]
Je
Doe,#720702v.2
MINUTE ORDER NO.
APPROVING THE FOURTH AMENDMENT
TO MANAGEMENT AGREEMENT
BETWEEN THE CITY OF PALM SPRINGS
AND SMG WHICH EXTENDS THE
EXISTING AGREEMENT FOR SIXTY DAYS
TO NOVEMBER 30,2003, OR UNTIL IT HAS
BEEN SUPERCEDED BY THE AMENDED
AND RESTATED AGREEMENT
I HEREBY CERTIFY that this Minute Order Approving the Fourth Amendment to
Management Agreement between the City of Palm Springs and SMG which extends the
existing agreement for sixty (60) days to November 30, 2003, or until it has been
superceded by the amended and restated agreement was adopted by the City Council of
the City of Palm Springs, California in a meeting thereof held on the day
of 2003.
Patricia A. Sanders
City Clerk
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