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Exhibit 7 <br />applied after any payment hereunder is due but unpaid. In addition, one and a half <br />percent (1 %%) interest per month shall be added for each month that payment hereunder <br />is due but unpaid. For any check that is returned for non -sufficient funds, for any reason, <br />Operator shall pay the City an additional Twenty -Five Dollar ($25.00) service fee. <br />3.4 Starting January 1, 2030 and continuing through December 31, 2034, <br />Operator shall continue to pay Two Thousand Dollars ($2,000.00) per month plus an <br />additional ten percent (10%) of the net operating profits for the month as specified in <br />Section 3.3 above. After an annual audit is performed, if findings determine that the 10% <br />requirement was not met, the Operator shall make a payment to the City of the of the <br />amount needed to meet the 10% requirement within 30 days of the audit report. If <br />findings determine that an overpayment was made a credit will be applied to the <br />following month's payment due to the City. <br />4.0 IMPROVEMENTS TO THE FACILITIES <br />4.1 Operator shall, in connection with its maintenance responsibilities, cause <br />two (2) clay tennis courts to be installed at the Facilities in a location determined by the <br />City. The two clay tennis courts shall be completed and operational no later than <br />December 31, 2020. All costs associated with construction of the two clay tennis courts <br />shall be paid by Operator. <br />4.2 Operator shall, in connection with its maintenance responsibilities, cause <br />one center tennis court to be installed at the Facilities in a location determined by the <br />City. The one center tennis court shall be completed and operational no later than <br />December 31, 2023. All costs associated with construction of the one center tennis court <br />shall be paid by Operator. <br />4.3 Operator shall, in connection with its maintenance responsibilities, cause a <br />fence to be installed round the entire Facilities. City will have final approval of the <br />location, material and design of the fence. The fence will be completed no later than <br />December 31, 2023. <br />4.4 Operator shall, in connection with its maintenance responsibilities, cause <br />all of the lighting at the Facilities to be retrofitted with LED lighting. The City will have <br />final approval of the design, specifications and placement of all lighting. Operator shall <br />be responsible for all costs associated with the replacement of the lighting at the <br />Facilities. The lighting shall be replaced at the Facilities no later than December 31, <br />2023. <br />4.5 Operator shall, in connection with its maintenance responsibilities, cause <br />the Facilities' two (2) air conditioning units to be replaced. The City will have final <br />approval of the design, specifications and placement of the two air conditioning units. <br />Operator shall be responsible for all costs associated with the replacement of the two air <br />conditioning units at the Facilities. The two air conditioning units shall be replaced no <br />later than December 31, 2023. <br />#20089v2 <br />250-7 <br />