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04/24/1991 FILEn ~nQ perno,' n .j ! ' . '; . ._ ,-.1.~ \._ MUTUAL RELEASE AND -91 ~lAY 1{tse~st1:0N OF CONCESSION AGREEMENT , Thi~i'oe~l~a~r~lease entered into the ~ day of ~L'';_' 1991, l)etween ~fOt~ROE COUNTY, (the County), and APCOA, INC., a Delaware Corporation, (APCOA), is intended to effect the settle- ment and extinguishment of obligations as herein designated. w1i:EREAS, disputes and differences have arisen between the County and APCOA with respect to that certain Concession A.greement, dated July 19, 1988, which Agreement is made a part of this release and incoporated by reference. A copy of said Concession Agreement is attached to this mutual release in order that all such claims, demands, actions, responsibilities, and liabilities of the respective parties may be ascertained; and WHEREAS, the parties have agreed to execute thi s mutual release in settlement of such disputes and differences; NOW, THEREFORE, in consideration of the mutual relinquish- ment o:f their respective legal rights with reference to the above-mentioned disputes and differences, in consideration of the execution of this mutual release, and in consideration of the payment by APCOA to the County of Twenty-five Thousand Dollars $25,000.00), in accordance with paragraph 8 of the parties' aforesaid Concession Agreement, the County and APCOA agree as follows: 1. The County and APCOA expressly release the other, its assigns or other legal representatives from all liability for claims and demands arising out of the said Concession Agreement. 2. APCOA further indemnifies and holds the County harmless from allY claims from subcontractors hired by APCOA arising from this matter. 3. The aforesaid $25,000.00 is presently held in the trust account of APCOA's attorney and shall be transmitted forthwith to the County upon the final execution of this document. 4. The final execution date shall be the date of the last party's signature to this document, and both parties agree to execute this document forthwith upon receipt. It is understood, howevel:', that the County 1 s approval of this document must be pursuant to its presentation to and approval by the Monroe County Board of County Commissioners. 5. Both the County and APCOA hereby agree that the aforesa,id Concession Agreement of July 19,. 1988, shall be aIld is hereby rescirlded, terminated and cancelled as of the date of final E~xecution of this release and delivery of the aforesaid funds to the County. IN WITNESS wrIEREOF, the parties have executed this mutual relea.se and rescission of agreement upon the signatures and dates below. COUNTY OF t.10NROE t, 4 ~ By: ~.~~~.'"~ ~, ~ayor/Cna1rman 0 t~e-;~ of C:ounty Connnissioners of Monroe County, Florida (SEAL) ATTEST: DANNY L. KOLHAGE, CLERK By: APCOA, Incorporated .".k~ '\ ;) 'j ,/LA' k · . By: .{L,;, it'., i'lJ II U tWI - L V t. "/ 1 'Il' .,,*, (SEAL) ATTE ( '"By : ~~ , ;' Title: Executive Vice President, Airport Properties Title: - c.l"r/7 1 ... __ 1 'I " ... ~J;o~~. By Auo..ney's Oi;ico Oats' Ii, i -2- / ,q1~ 'DEe - 5 1988 CONCESSION AGREEMENT THIS AGREEMEtIT is made and entered into this Ilfeh day of ~T6~ t 1988 t by and between the BOARD OF COUNTY COMMI. RS OF MONROE COUNTY, FLORIDA (hereinafter referred to as the "BOARD") and APCOA, INC., a Delaware corporation (herein- after referred to as "APCOA"), WIT N E SSE T H: lVHEREAS, the BOARD, owns and operates the Key .West Interna- tional .Airport, at Key West, Monroe County, Florida (hereinafter referred to as the "Airport") having approximately 3.5 acres of land fo:r parking areas in and about the Airport terminal j and WHEREAS, APCOA is an experienced, major operator and manager of airport and other public parking facilities throughout the United States; and WHEREAS, the BOARD intends to grant the exclusive right to APCOA to develop, manage and operate all of the public parking facilities serving the Airport, and APCOA is willing to operate such parking facilities. NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, it is mutually agreed as follows: 1. PREMISES. The BOARD herewith grants APCOA the exclu- sive right and privilege to operate for the term and upon the covenants, agreements, and conditions set forth herein, all the public parking facilities located in and about the passenger terminal area at the Airport presently served by commercial scheduled airline operations, or in and about any new passenger terminal area to which commercial scheduled airline operations may be changed during the term of this Agreement, or any exten- sion or renewal thereof, together with any improvements thereon and all appurtenances thereto, including, but not limited to, the right of ingress and egress onto the premises from all terminal access roads (all of which shall hereinafter be referred to as the "Prlemises"). 2. USE AND CONDITION. The Premises shall be used by APCOA as a parking facility for motor vehicles, and for any other purpose or purposes incidental thereto, including but not limited to, the right to erect a sign or signs suitable for advertising its business, and to place any personal property or trade fix- tures necessary for such purposes in or on the Premises. The parties acknowledge that this Agreement is not a lease. 3. DESIGNATION OF PARKING AREAS. The BOARD and APCOA shall designate by appropriate signs parking areas for (a) long-term public parking, containing approximately 270 spaces, (b) short-term public parking, containing approximately 66 spaces, (c) rental car parking, with approximately 60 spaces, and (d) employees' parking area. The cost of the initial internal signing shall be borne by APCOA. Said parking areas shall be in accordance with APCOA Drawing No, 2-3304, dated 3/17188, a copy of which is attached hereto marked Exhibit "A". APCOA however shall h.ave no responsibility or obligation for the rental car concess:ion area. / 4. E~WLOYEE PARKING. Airport terminal employees shall be permitted to park free of charge in a designated parking area in the rea:r of the long-term lot. APCOA shall be responsible for issuing numbered parking decals to qualified employees. Decals for Airport parking shall be uniq'ue to the Airport. Decals shall be reissued annually, on a calendar year basis. Each Airport terminal employee may obtain one decal, valid only for his or her own use and only when the employee is on duty at the Airport. The Airport Manager shall be responsible for verifying the identity and place of employment of employe4es who reqllcst decals for parking privileges. The Airport Manager's records shall be available for APCOA's inspection. Decals shall be void when an employee ceases employment at the Airport. Decals must be affixed to the rear-view mirror, or lower right hand corner of the windshield, or such other place as the Airport Manager and APCOA shall agree. If a vehicle parked in the employee area does not display a valid decal, for any reason, it shall be ticketed and/or towed as applicable. Decals shall be non-transferable from person to person or from one vehicle to another. For example, the parking privilege shall not be honored if (1) a decal is displayed on the car, but the decal number is registered to a different vehicle, or (2) no decal is on the car, but the customer claims his or her decal is affixed to another vehicle in his or her household. T'he BOARD shall establish rules and regulations that misuse of employee parking is a violation of law, as follows: (1) for the first offense, the vehicle shall be ticketed, with a fine of' at least $25.00; (2) for a second offense, the vehicle shall be ticketed and towed from the lot, with the owner paying the fine, towing fee and impound fee; (3) for a third offense by the same vehicle or person, the free parking privileges for such vehicle and/or person shall be permanently revoked. All towing shall be done by a contractor selected and called by the Airport Manager. Towing fees shall be payable by the employee to the towing contractor. Fines and impound fees shall be payable to the BOARD or City of Key West. The Airport Manager will maintain a record of all violations. The Airport Manager shall control and enforce the proper use of employee parking. He will employ persons to check the employee parking area for valid use. Such persons will be on duty during the hours each day the Premises are open for parking. Such persons shall be under the supervision of Airport Security, and will promptly report violations to Airport Security. Airport Security will have the lawful power to issue citations. APCOA personnel will have the right at all tlmes to check the free parking area for violations, and may report violations to Airport Securi t~y. Any employee who parks in an area other than the designated employee area shall not have his or her permit honored and must pay parking charges at the posted public parking rates, regardless of having a valid decal. The BOARD acknowledges that the allowance of free parking privileges is an exception to normal airport parking practices, and that strict control of this privilege and compli- ance with procedures are material considerations for this Agree- men t . s. TERM. The term of this Agreement shall be for a period of ten (lllT}rears, commencing on the date APCOA occupies and commenc1es full operations on the Premises. The parties shall confirm such commencement date in writing. The termination date shall hie on the last day of the one hundred twentieth (120th) full calendar month following the commencement date. ~ "' 6. CONCESSION FEE. APCOA agrees to pay the BOARD each year during the term hereof an amount equal to the greater of the following fees: A. Minimum annual guaranteed fees as follows: 1st year $24,000 6th year $50,000 2n,d year $28,000 7th year $57,000 3rd year $32,000 8th year $67,000 4th year $36,000 9th year $77,000" 5th year $42,000 10th year $87,000 2 payable in equal monthly installments, in advance, on the first day of each month, beginning with the commencement date (less reimbursements permitted under Paragraph BCD) below) J or B. receipts: The following percentages of annual gross 21.5% of gross receipts collected each year up to $150,000.00; plus 41.6% of gross receipts in excess of $150,000.01, but not in excess of $200,000.00 per year; plus 65.7% of gross receipts in excess of S200,OOO.Ol, but not in excess of $250,000.00 per year; plus 71.8% of gross receipts in excess of $250,000.01, but not in excess of $300.000.00 per year; plus 78.1% of gross receipts in excess of $300,000.01 per year. "Gross receipts" as used herein shall mean all sums collected by APCOA for the parking of motor vehicles, whether on an hourly, daily, weekly, or monthly basis, including without limitation, receipts, if any, from parking meters, restaurant/bar validations and parking coin machines less all refunds, discounts, and allowances made by APCOA to its customers and less any sales, use, excise, occupancy, gross receipts, or other taxes attributable to such receipts or to the occupancy of the Premises for the purpose of parking motor vehicles. APCOA will charge no parking fee for inspection, maintenance, emergency, or police vehicles exempt from the payment of parking fees by state law. 1. 2. 3. 4. 5. Within 45 days after the end of each annual period d\lring the term hereof, APCOA shall furnish to the BOARD a statement certified by the Chief financial officer of APCOA showing the gross receipts from the Premises during the preceding year and the amount of percentage fee, if any, due hereunder and simultaneously therewith APCOA shall pay the BOARD any percentage fee determined to be due. The term .. annual" and "year" shall mean the twelve consecutive calendar months beginning with the commencement date of this Agreement, and each twelve-month period thereafter. If operations commence on a date other than the first day of a calendar month, the first year shall begin on the first day of the next following calendar month but shall include the preceding partial calendar month. The minimum annual guaranteed fee set forth in sub-paragraph (A) above is subject to adjustment in the event the BOARD fails to rigidly enforce the provisions of Article 16 herein. 7. UNFORESEEN EVENTS. A. In the event of an airline strike, airport con- struction or repair, including but not limited to repair of roadways or runways, partial or total suspension,of activities by an commercial airline, including reduction of a:f.rline flight schedules, governmental laws, rules, regulations, orders or policies, acts of God, or any other event or condition beyond the reasonable control of APCOA, which event or events cause or result in the amount of gross receipts being substantially reduced, or B. If, at any time after the first six (6) months of any lease year have passed, the gross receipts collected to date plus the gross receipts projected for the remaining part of such year are not expected to exceed $100,000, then irl ei ther or both events, APCOA may, upon notice to the BOARD, elect to have the parties enter into negotiations regarding a reasonable reduction in the minimum annual guaranteed fee. Immediately following such notice, both 3 parties agree to enter into negotiations in good faith to reach an agreement as to a commensurate reduction in such minimum fee, including the period such reduction shall be in effect. If the parties cannot arrive at a reasonable adjustment in the fee within thirty (30) days from the date of said notice, such determination shall be made by arbitration based upon the reduction in gross receipts by three disinterested persons, one of whom shall be selected by the BOARD, one by APCOA, and the third by the two thus appointed. The decision of the arbitrators shall be final and binding upon the parties hereto. In addition, should any of the acts or events described in sub-paragraph (A) above take place and continue for more than fourteen (14) days, APCOA shall have the right to reduce its operations proportionately during the period such act or event continues. 8. EQUIPMENT AND IMPROVEMENTS. A. The parties acknowledge that developing the Airport parking project is anticipated to cost in excess of $500,000, with the Florida Department of Transportation funding 50% of such costs, up to $250,000, in accordance with the Joint Participation Agreement between Monroe County and the F.D.O.T. for WPI Project No. 6826695. The balance of such costs in excess of $250,000 will be borne by APCOA. Notwithstanding anything in subsection A to the contrary, the Board shall determine the final cost of the Airport parking project by requesting public bid proposals for the work in accordance with applicable governmental statutes and regulations. The Board shall initially determine the best qualified bid for the Airport parking project. Upon such determination, the Board shall then present the bid, together with a copy of the proposed contract, plans and specifications (the "Contract") to APCOA for their review and approval. In the event the best qualified bid to construct the Airport parking project, as determined by the Board, shall be in excess of ~525,OOO, APCOA shall have thirty (30) days following receipt thereof, to accept or reject the proposed bid. If APCOA shall reject , the proposed bid, APCOA shall, within said thirty-day period, submit to the Board its proposal for reducing the cost of the Airport parking project; provided, however, such proposal shall not significantly alter the character of the proposed improvements, and further, is acceptable to the FDOT and other applicable permitting agencies. If the Board and APCOA fail to agree upon APCOA's proposed cost savings measures within thirty (30) days following the submittal of APCOA's proposal to the Board, either party, upon ten (10) days written notice, may terminate this Agreement, in which event this Agreement shall be null and void and the parties hereto shall be released from any further obligations hereunder. B. APCOA agrees to reimburse Monroe County, up to $50,000 for the Monroe County matching share of tile front-end funding expenditures for those Airport parking project costs related to preliminary and final engineering for preparation of construction plans, specifications and contract documents, including engineering surveys, soils and materials testing, environmental agency, Planning and Building Departments, and South Florida Water Management District permitting (collectively sometimes hereafter referred to as the "Preliminary Engineering Work"). APCOA shall remit payment to Monroe County within five (5) days of receipt of an invoice or invoices for the Preliminary Engineering Work, certified as true and accurate by an authorized official of the County. The obligation of APCOA to reimburse the County shall survive the termination of this Agreement as permitted in subsection A above; provided, hOlvever, APCOA shall only be responsible for the Preliminary 4 Engineering Work completed and/or in process on the date.- the notice of termination under subsection A above is received. APCOA agrees to pay directly to Monroe County, for distribution in accordance with the Contract, an aggregate total of fifty percent (50%) of the final cost (which final cost includes the cost of the Preliminary Engineering Work) of the Airport parking project, as determined in accordance with subsection A above ("APCOA's Allocable Share"). During the course of the construction of the improvements comprising the Airport parking project, the County shall, from time to time, but in no event more than one time each month, submit an invoice to APCOA, for APCOA's Allocable Share, or part thereof, together with a certificate by an authorized official of the county, to the effect that the invoice(s) represent work and/or materials required under the Contract and such work and/or materials have been performed and/or installed in accordance with the Contract. APCOA shall remit payment to the County for each such invoice within fifteen (15) days of receipt thereof. Final payment by APCOA shall be conditioned upon receipt of an additional certificate certifying from an authorized County official, certifying that the Airport parking project has been completed in accordance with the Contract. C. APCOA shall furnish and install on the Premises certain equipment and other improvements necessary for the operation of the public parking facilities, including entrances equipped with ticket spitters and automatic gates, six (6) handicapped spaces, counters, vehicle detectors, and AMANO TM-7IO parking fee computer, space controls, and such other equipment as APCOA deems necessary for revenue and traffic control and operational requirements for the Premises. $45,000 of the total cost (of $250,000 or more) of APCOA's investment for equipment and improvements herein shall be reimbursed to APCOA over the first five (5) years of the term herein, commencing on the date the equipment and improvements are completed, as hereinafter set forth. The balance of APCOA's capital investment (of $205,000 or more) shall be APCOA's contribution to the project herein, and shall be amortized by APCOA over the ten (10) year term of this Agreement, on a straight-line basis. Should this Agreement be terminated for any reason prior to the expiration of the full ten (10) year term herein, the BOARD agrees to reimburse APCOA (a) the unreimbursed portion of said $45,000, plus (b) the unamortized amount of APCOA's capital investment of $205,000 (or more). Such reimbursement shall be paid by the BOARD to APCOA within thirty (30) days after receipt by the BOARD of APCOA's statement itemizing the amount due and payable. D. Improvements will not commence until the F.D.O.T., Airport Manager and APCOA reviews and approves the work to be done. E. The BOARD shall reimburse APCOA said $45,000 investment under sub-paragraph (C) above, without, interest, by means of APCOA making annval deductions of $9,~OO each from the percentage fee payable after the end of each year, over the first five (5) years of the term herein, as aforesaid. F. Title to all improvements shall vest in the BOARD upon completion. Title to all equipment shall remain in APCOA and not vest in the BOARD until the expiration of the term herein and upon payment by the BOARD to APCOA of the additional sum of $1.00. In the event this Agreement is terminated for any reason prior to the expiration date of the initial ten (10) year term, title to equipment shall vest in the BOARD on the date of termination and upon the BO,ARD I S payment to APCOA of (1) the unamortized portion of said $45,000, and (2) the unamortized amount of APCOA's original investment of $205,000 (or more), and (3) the sum of $1.00, as the purchase price therefor. 5 G. Personal property and trade fixtures owned by APCOA may be removed from the Premises by APCOA at the termination of this Agreement. 9. REPORTS AND RECORDS. APCOA shall keep and maintain true and accurate records and reports, including gross receipts, validated tickets and any permitted deductions. A financial report will be submitted to the Airport Manager on or before the 20th day of each month for the preceding month. Such records sllal1 include: 1. A daily cash summary reconciling total gross receipts to the daily deposit, including a section reconciling the accounts receivable balance. 2. Inventory log of all parking tickets purchased and the number used each day. 3. All used parking tickets, coupons, validations etc., for a period not to exceed six (6) months, at which time said documents will be turned over to the Board. 4. 5. logs. The log of all machine or control counters. All computer generated reports and event 6. Any other accounting records pertaining to receipts of the parking operation. Tickets lost by customers will be accounted for by a "lost ticket" form provided by APCOA and approved by the Airport Manager. Within twenty (20) days after the end of each calendar month, APCOA will provide the BOARD with an "unaccounted ticket" report for the previous month. Within ninety (90) days after the end of year APCOA will furnish the BOARD with a certified audit report verifying the total parking revenues. Said certified report will be prepared by an independent certified public accountant. Said records shall be available for inspection at the Premises by a duly authorized representative of the BOARD at any time during regular business hours, provided the BOARD gi'ves APCOA at least ten (10) days prior written notice of its desire to inspect such records. 10. ITTILITIES. APCOA shall pay for electrical power consumed in the booth, office and revenue control equipment operations. 11. DUTIES: REPAIR AND MAINTENANCE. A. APCOA shall, at its expense: "\, .. 1. institute revenue control procedures for the public parking facilities including, where necessary, procedures to control ingress to the Premises; 2. adopt procedures for collection of proper parking fees in accordance with the approved rate schedule in effect; 3. staff uniformed attendants, trained and disciplined to perform their duties in an efficient and courteous manner, who shall be on duty 24 hours per day. Provided, however, if APCOA in its sole discretion determines that 24 6 hour per day operations is not warranted or necessary, then APCOA may staff its attendants on duty from one-half hour before until one-half hour after the time commercial airline flights are in operation or until the last scheduled flight has arrived, 365 days each year; 4. operate the parking facilities in a clean and orderly manner; 5. establish a procedure for making a license plate inventory of overnight parked cars; 6. perform routine maintenance to keep all equipment owned and/or installed by it on the Premises in good repair and operating condition; 7. perform custodial services to keep the Premises (including cashier booth) clean and free from all trash and debris; 8. be responsible for uniforms, tickets, office supplies and equipment, repair and maintenance of traffic and parking control equipment, initial striping and painting, parking rate signs, and initial signs within the parking lots as may be required. B. The BOARD shall, at it expense, be responsible for: 1. lawn maintenance; 2. repair maintenance and replacement of all signs and other equipment and improvements on the Premises; 3. traffic congestion, security, and abandoned vehicles. 12. INSURANCE. APCOA shall obtain and keep in force during the term of this Agreement: A. Garage Liability Insurance in the amount of $1,000,000 combined single limit per accident for bodily injury and property damage; B. Garagekeepers Insurance, including comprehensive pe'rils coverage, in the amount of $1, 000, 000; c. Personal Injury Liability Insurance in the amount of $500,000. The County of Monroe shall be named an additional insured, and the BOARD furnished with a certificate(s) evidencing the above insurance coverages. D. Worker's Compensation and Employers Lia~ility Insurance in compliance with applicable law. I APCOA shall indemnify and save the County of Monroe harmless from any and all claims for injury or damages arising out of APCOA's acts, omissions or negligence, except for injuries or damages caused by the ac'ts, omissions or negligence of the County, its officials, employees, agents or representatives. 13. RATES. Parking rates shall be in accordance with the following schedule: 7 SHORT TERM $ .50 each 1/2 hour $6.00 daily maximum LONG TERM $1.00 $2.00 $3.00 o to 2 hours 2 to 6 hours 6 to 24 hours The BOARD agrees that it will review the parking rate structure periodically, but not less than once each year. APeOA shall make available to the BOARD analyses of traffic distribution, a comparison of rates at other airports in the southern region, and its recommendations for a rate adjustment. The BOARD agrees that it shall not unreasonably withhold approval of any requested rate adjustment. APCOA may, at it option, add to rates the amount of any special tax on gross receipts or on the occupancy or op- erations of APCOA. Any such special tax shall not be included in nor considered a part of gross receipts. 14. UTILITY INSTALLATIONS. In order that APCOA may safely and efficiently operate the Premises and the equipment and improvements thereon the BOARD shall install or cause to be installed at the BOARD's expense all necessary equipment, such as conduits, wiring and ducts to bring electrical power to points of connection and use by APCOA on or in the Premises. The BOARD shall at its expense keep all such utility equipment and improvements in good operating condition and repair, including underground wiring and connections for electrical power, electric lighting, lighting fixtures and lamps. 15. DP~INAGE INSTALLATIONS. APCOA shall be responsible for meeting all relevant regulatory requirements concerning storm water drainage. Required drainage plans shall meet all standards as estab lisbed by the Ci ty of Key West, Monroe County, South Florida Water Management District and any other relevant state or federal agencies. All costs incurred in the design, development and construction of this system will be considered to be part of the overall projects cost. 16. REGULATION OF PARKING. The BOARD shall adopt, regulate and enforce rules to assure APCOA that all paid public parking shall be within the premises, and further the Board agrees there shall be no free or unauthorized or illegal parking in and about the Airport terminal area, at any time whatsoever, except as permitt,ed by this Agreement. The BOARD (through Airport Securi- ty) agrees to assist and cooperate in every rracticable way with APCOA to prevent any unauthorized or illega parking, including policing violators and/or the erection of barricades. This regulation shall also encompass and include (a) the rental car area, to prohibit free parking by the public or rental car company vehicles (other than the Dollar Rent-A-Car and Avis Rent-A-Car concessions) on the rental car area, and (b) patrons of the restaurant/bar. 17 . TAXES. The BOARD represents and warrants that the Premises are exempt from real estate taxes and assessments. However, if any charge or taxes are assessed and/or levied upon this Agreement upon the Premises or the occupancy of the Premises by APCOA, upon any real property used by APCOA thereon, or upon APCOA due to its operations on t~e Premises or under ~his Ag~ee- rnent, prompt notice of any such assessment or levy shall be given, in writing, by the party receiving such notice to the other party herein. Should APCOA be required to pay any charges or taxes, the amount so paid shall be deductible from the conces- sion fees payable by APCOA under this Agreement. APCOA shall pay all taxes, if any, levied upon its own personal property located in or on the Premises. 18. NON-DISCRIMINATION AND AFFIRMATIVE ACTION. APCOA agrees not to discriminate, or permit discrimination against any employee, patron, or applicant for employment, on the grounds of race, c.olor, religion, national origin, ancestry, age or sex, pursuant to Title 49, CFR, Subpart A, Part 21, effectuation of Title VI of the Civil Rights Act of 1964. 8 APCOA is also subj ect to the Affirmative Action pro- V1.Sl.ons of Title 14, CFR, Part 152, which requires compliance with all federal, state, and local laws and regulations. APCOA assures that it will undertake an affirmative action program as required by 14 CFR, Part 152, Subpart E, to insure that no person shall, on the grounds of race, creed, color, national origin, sex, or ancestry, be excluded from participating in any employ- ment, contracting, or leasing activities covered in 14 eFR, Part 152, Subpart E. APCOA assures that no person shall be excluded on these grounds from participating in or receiving the services or benefits of any program or activity covered by this subpart. APCOA further assures that it will require that any covered suborganizations provide assurances that they similarly will undertake affirmative action programs and that they will require assurances from their suborganizations as required by 14 CFR, Part 152, Subpart E, to the same effect. 19. DEFAULT. Either party hereto shall have the right to terminate this Agreement upon the breach or default by the other party of any of the covenants, terms and conditions hereof, provided the defaulting party receives notice of and fails to remedy such breach within thirty (30) days after said notice is received, or fails to commence remedying such breach within said thirty (30) day period in the event such breach cannot be rea- sonably remedied within thirty (30) days. Either party shall also have the right to terminate this Agreement in the event the other party files a voluntary petition or similar pleading in bankruptcy, insolvency, receivership or makes an assignment for the benefit of creditors, with termination to be effective upon giving notice thereof. 20. CANCELLATION OF AGREEMENT. A. Cancellation bl APCOA. This Agreement shall be subject to cancellation y APCOA, upon the occurrence of one of more of the following events: 1. the permanent abandonment of the Airport as an air terminal; 2. the assumption by the United States Government or any agency thereof of the operation, control or use of the Airport or any substantial part or parts thereof, in such a manner as to substantially restrict APCOA for a period of at least ten (10) days from operating thereon; 3. issuance by any court of competent jurisdiction of an_injunction preventing or restraining the use of the Airport, and the remaining in force of such injunction for a period of at least ten (10) days; B. Cancellation by the Board. This Agreement shall be subject to cancellation by the BOARD in the event APCOA shall abandon the Premises for any period of time without just cause. ~ Cancellation under'any of the above events shall be effective upon receipt of such notice of cancellation. 21,. WARRANTIES AND POSSESSION. The BOARD warrants and represents that it has the authority to grant APCOA the exclusive right, concession and privilege to operate the Premises and to execute this Agreement. The BOARd further covenants and agrees that APCOA, upon performing and observing the terms and con- ditions of this Agreement to be performed by APCOA, shall have peaceable and quiet enjoyment of the Premises during the term without any interruption by the BOARD, its successors or assigns, or any entity, person or company claiming by or through it. The BOARD flJrther agrees that if APCOA should be made a party in any legal proceeding affecting APCOA's right of continuous and quiet possession, the BOARD shall reimburse APCOA for reasonable 9 attorney's fees and/or other expenses incurred by APCOA in defending its rights under this Agreement, and any such expenses may be offset by APCOA against concession fees due or becoming due. 22. EXTENSION OF TERM. Upon APCOA's faithful performance of its obligations and agreements herein, and in consideration of APCOA's agreement to pay its share of the costs of equipment and improvements as herein provided, the BOARD agrees that, at the expiration of the term herein, it will in good faith first negotiate with APCOA for a five (5) year extension of this Concession Agreement prior to entering into negotiations with any other person, firm or company. 23. NOTICES. Any notice or communication required to be given to or served upon the parties hereto shall be given or served personally or by express delivery or by mailing the same, postage prepaid, by United States registered or certified mail, at the following addresses: 'I'O BOARD: Board of County Commissioners c/o Airport Manager Key West International Airport South Roosevelt Boulevard Key West, Florida 33040 APCOA, Inc. 25550 Chagrin Boulevard Cleveland, Ohio 44122 Attn: Legal Department TO APCOA: WITH COpy TO: Mr. Robert F. Bouts, Senior Vice President Airport Properties APCOA, Inc. 25550 Chagrin Boulevard Cleveland, Ohio 44122 24,. ASSIGNMENT. This Agreement shall not be assigned by APCOA to any other party without the l-Tritten consent of the BOARD. 25D SUCCESSORS AND ASSIGNS. This Agreement shall be binding and inure to the benefit of the parties hereto, their successors and assigns. I~l WITNESS WHEREOF, the parties hereto have executed this Agreement the date first above written. (SEAL) BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA Bygr.~~1 ~ May hairman Attest: T)A.7\TNY T K ' .u. OLI-IAG'E, ClerIc ~ ., APCOA, INC. By ~.~~~ en10r ce res1 ent (SEAL) Attest: ]0 .. "611/') A~ TO FORM ;' "~)~Grtl' FFICIU'CY. ~. L ~ "V . ~ ./'J .........-- . · - n.".. A tr.i,"'n('~-'-.~ _,I f/{:e