HomeMy WebLinkAboutResolution - 2006-R0377 - Amendment To The Mackenzie Ampitheatre Naming Agreement - 08/10/2006Resolution No. 2006-RO377
August 10, 2006
Item No. 5.13
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock an Amendment to the
Mackenzie Amphitheatre Naming Agreement with Wells Fargo Bank Texas. Said
Amendment is attached hereto and incorporated in this Resolution as if fully set forth
herein and shall be included in the minutes of the Council.
Passed by the City Council this loth day of August , 2006.
-! --J �~
DAVID A. ILLER, MAYOR
ATTEST:
Reb cca Garza, City Secretary
APPROV D S T ONTENT:
Randy Truesdell,
Community Services Director
APPROVED AS TO FORM:
Linda L. Chamales, Senior Attorney
Office Practice Section
Lc:LAtty/Linda/RES-Amphitheatre Amendment
July 27, 2006
Resolution No. 2006-RO377
August 10, 2006
Item No. 5.13
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LUBBOCK §
AMENDMENT TO MACKENZIE AMPHITHEATRE
NAMING AGREEMENT
This Agreement is entered into by the CITY OF LUBBOCK (referred to herein
as "City"), a Home Rule Municipality of Lubbock County, Texas, and WELLS FARGO
BANK TEXAS, NATIONAL ASSOCIATION, a national banking association (referred
to herein as "Naming Sponsor")
WITNESSETH:
WHEREAS, City and Naming Sponsor executed a Mackenzie Amphitheatre
Naming Agreement on the 27th day of March, 2003, granting the Naming Rights for the
amphitheatre to Naming Sponsor; and
WHEREAS, City and Naming Sponsor desire to amend the terms of the
Agreement and the beginning payment date for acquiring the Naming Rights for the
outdoor theatre in Mackenzie Park as described herein;
NOW THEREFORE, City and Naming Sponsor agree to the following
amendments:
A. Paragraph 2 entitled "Term" is amended to read as follows:
"This Agreement shall, unless sooner terminated in accordance
with the provisions set forth elsewhere in this Agreement, be
effective on the date hereof and shall continue in effect until it
expires and is not extended. The initial term of this Agreement
shall be for a term of years ending on January 31 of the third year
following the First Payment date. The term shall automatically
extend for successive three year periods so long as Naming
Sponsor continues to pay the Naming Sponsor Fee, unless proper
notice is given pursuant to this paragraph by either party that the
term should not automatically extend. In the event either party
desires in its discretion to not extend this Agreement after the
expiration of the initial term or any subsequent extended term, the
party desiring not to extend this Agreement agrees to give the other
party advance notice of such intention at least 120 days prior to the
next February 1 t automatic extension date.
Amendment to Mackenzie Amphitheatre Naming Agreement
B. Paragraph 3 entitled "Naming Sponsor Responsibilities" is amended
by replacing subparagraph 3(b) with the following subparagraph:
"(b) The initial installment of the annual Naming Sponsor fee
shall be due on or before January 31, 2007. Subsequent
installments of the Naming Sponsor fee shall be due and payable
on January 3 1 " of each year thereafter so long as this Agreement
remains in effect. The amount of the annual Naming Sponsor Fee
shall be $16,000.00, to be paid annually to the City, in cash,
commencing on the First Payment Date. None of the Naming
Sponsor fees shall include any fees and commissions payable to
third parties engaged by or claiming through Naming Sponsor, if
any, which shall be the sole responsibility of and paid by, the
Naming Sponsor. Naming Sponsor shall be liable for all
applicable federal, state or local taxes or charges, if any, levied,
assessed or otherwise due with respect to the payments made by
Naming Sponsor hereunder."
C. Paragraph 4 entitled "City Responsibilities" is amended by deleting
subparagraphs 4(c) and 4(d).
D. Paragraph 11 entitled "Notices" is amended to read as follows:
"All notices, offers, consents or other communications required or
permitted hereunder shall be in writing and shall be deemed duly
given if delivered personally or by messenger or if sent by certified
mail, postage fully prepaid, addressed to the appropriate address
set forth below, or to such other person or address as either party
may designate by notice to the other party given as herein
provided:
If to Naming Sponsor:
Wells Fargo Bank
James P. Cummings, Sr., President
1500 Broadway
Lubbock, Texas 79401
If to City:
City of Lubbock
P.O. Box 2000
Lubbock, Texas 79457
Attention: Randy Truesdell
Community Services Director"
With a copy to:
Wells Fargo Bank
Allan E. Ball, Senior Counsel
1500 Waugh Drive
Houston, Texas 77019
With a copy o:
City of Lubbock
P.O. Box 2000
Lubbock, Texas 79457
Attention: City Attorney
Amendment to Mackenzie Amphitheatre Naming Agreement
Page 2
Executed this 10th day of August , 2006.
CITY OF LUBBOCK
DAVID X. MILLER, MAYOR
ATTEST:
Re ecca Garza, City Secretary
APPROVED AS TO CONTENT:
Zf
Ran, y Truesde ,
Community Services Director
APPROVED AS TO FORM:
Linda Chamales, Senior
Attorney —Office Practice
LC: cityatt/Linda/Wells Fargo Amendment
July 17, 2006
WELLS FARGO BANK TEXAS,
NATIONAL ASSOCIATION
DAMES P. CUMMINGS, S .
PRESIDENT
Date: Ju'k7 2 4r Z C,J 6
Amendment to Mackenzie Amphitheatre Naming Agreement
Page 3