Laserfiche WebLink
-2- <br /> SECTION 2: FINANCING <br /> A. The City and Park agree that they will work cooperatively in exploring, investigating <br /> and obtaining funds from State and Federal grants, philanthropic sources, public and private <br /> partnerships, and project revenue generation. <br /> B. The parties agree that they will invest monies for financing the Decatur Lake Front <br /> Development as specifically set forth in separate and supplemental agreements providing for <br /> specific projects. <br /> C. The parties agree that they will each commit themselves to the best in good faith to <br /> resolve difficulties which will be inherent in allocating costs and responsibility for the <br /> Development. <br /> SECTION 3: OPERATION AND MANAGEMENT <br /> A. The parties agree to accept appropriate responsibilities for the creation, design, <br /> construction, operation and management of the activities of the Development. <br /> B. The parties agree to accept appropriate responsibilities for the creation, design, <br /> construction, operation, maintenance and management of the facilities and improvements of <br /> the Development. <br /> SECTION 4: FUTURE AGREEMENTS AND SPECIFIC PROJECT FACILITIES <br /> A. The parties agree that the Development will occur in phases over a number of years <br /> and will encompass a wide variety of projects, including, but not limited to, entertainment and <br /> recreational facilities, marine and boating improvements and changes, dining areas, and other <br /> appropriate activities and projects. <br /> B. The parties recognize that the projects described in the preceding paragraph will <br /> require different financial, decisional and design participation and corr.rritment from each <br /> party. <br /> C. The parties agree that additional agreements providing the specific requirements, <br /> duties, obligations and responsibilities for each specific project described above will be <br /> necessary and required and each agrees to execute those agreements necessary to provide the <br /> specifics to implement and facilitate the projects in the Development. <br /> SECTION 5: TERM OF AGREEMENT <br /> A. This Agreement shall be effective as of the date both parties sign for a period often <br /> (10) years, and from year to year thereafter, unless terminated by either party hereto by <br /> written notice not less than one (1) year prior to the next succeeding year. <br />