2010/08/04 Council Agenda Packet

DRAFT l)RAFf the Property. Purchaser and Seller agree that the following terms are some of the terms that must be incorporated into the City Parking Easement: 1) Effective upon completion of the Project, the City Parking Easement must provide City Parkers use of forty-eight (48) undesignated, non-tandem parking spaces in the Project Garage from 7:45 a.m. to 5:30 p.m., Monday through Friday, excluding City holidays (such hours, "City Operational Flours"). This access and use is at no charge to the Seller or City Parkers. 2) The City Parking Easement must contain provisions that provide for a managed parking service for City Parkers if, at any time during City Operational Hours, (i) there are not forty-eight (48) individual, non-tandem parking spaces immediately available to City Parkers or (ii) City Parkers' vehicles are not immediately available for retrieval from the Project Garage. The managed parking service may park vehicles outside of the Property, so long as the parking area is secured. The managed parking service shall provide one (1)or more runners to pick up and retrieve vehicles from City Parkers. City Parking Easement must contain provisions requiring the owner of the Property to indemnify City Parkers against any damage to vehicles caused by the managed parking service. 3) The City Parking Easement must contain provisions that define each of the following occurrences as a "Parking Service Failure": a, a City Parker is required to wait more than ten(10) minutes during City Operational Hours after arrival at the Project Garage for the managed parking service to take his or her vehicle; or b. a City Parker is required to wait more than ten (10) minutes during City Operational Hours after arrival at the Project Garage for the managed parking service to retrieve and deliver his or her vehicle. The Parking Easement must provide that the Project Garage Owner will be in default under the City Parking Easement if during any calendar month more than twenty-five (25) Parking Service Failures occur. If such a default occurs,the City Parking Easement must contain provisions granting the City the option to require that the Project Garage owner designate with visible signage forty-eight(48) individual, non-tandem parking spaces in the Project Garage for the exclusive use of City Parkers during City Operational Hours for the duration of the City Parking Easement. These designated spaces will be in lieu of the undesignated spaces. In the event that such designation occurs, the Parking Easement must provide that the City or its contractor may enter the garage and tow or immobilize vehicles not belonging to City Parkers that are parked in the designated spaces during City Operational Hours. 3 DRAFT DRAFT