NWS HOLDINGS LLC 12/30/2024 - Laserfiche WebLink

EXHIBIT D EXTENSION TERM NWS shall have the option to extend the Term of this Agreement for one Extension Term of eleven (11) years (the, "Extension Term"). For clarity, this means that at maximum the Agreement can be extended until December 31, 2046. In order to exercise an option to extend the Agreement for the Extension Term, NWS shall provide written notice of exercise to the City no earlier than nine (9) month prior to the expiration of the initial Term and no later than three (3) months prior to the expiration of the initial Term, unless the Parks and Facilities Director provides in writing an extension of such notice date. NWS may not, unless allowed by the Parks and Facilities Director in writing, exercise an option if at time of exercise an NWS Event of Default exists beyond the applicable cure period. The Extension Term shall be upon the same terms, covenants and conditions as the initial Term, except for the following: (1) The monthly fee during the Extension Term shall increase each year by 3%. (2) In exchange for the Extension Term, NWS will replace the synthetic turf on the infield areas of Kasch Park ballfields 1-4 with a synthetic turf installation of at least the same quality as the turf installed on those fields as part of the NWS Initial Project (the replacement project, "NWS Extension Term Turf Project"). The NWS Extension Term Turf Project installation is under the same terms and conditions as in Exhibit C for the previous synthetic turf installation in the NWS Initial Project, except that the term "NWS Initial Project" is replaced with "NWS Extension Term Turf Project" and the first two sentences of Section D.1 of Exhibit C are replaced with the following sentences: "NWS will diligently pursue obtaining all necessary permits and approvals from government agencies for the NWS Extension Term Turf Project. NWS must submit complete applications for all such required permits, if needed, for the NWS Extension Term Turf Project no later than 12 months after beginning of the Extension Term, unless the Parks & Facilities Director or designee provides a later deadline in writing." (3) The table in Section E of Exhibit C is not applicable to a termination with termination date during the Extension Term. The table in Section E of Exhibit C is replaced for the Extension Term with the following table: Convenience Termination Payment=1.2 x (NETPTC) x DaysOther Payments Remaining 4ois "NWS Extension Term Project(s) Total Cost" or "NETPTC" is the cost established under Section D.4 of Exhibit C for the NWS Extension Term Turf Project (plus costs for additional approved projects during the Extension Term under Section F of Exhibit C, if any). Exhibit D