Laserfiche WebLink
t� <br />tplflf - P` 0 <br />INSURANCE 1O ON FILE <br />WORK MAY NnT PROCEED <br />CLERK OF COUNCIL <br />SECOND AMENDENT TO AGREEMENT DATE: S ro f 9 <br />THIS AMENDMENT, made and entered into this 19'm day of April 1999, by and C <br />between the City of Santa Ana, a charter city and municipal corporation duly organized and <br />existing under the Constitution and laws of the State of California, hereinafter referred to as "City," <br />and the Charles W. Bowers Museum Corporation, a California nonprofit public benefit corporation, <br />hereinafter referred to as "Corporation." <br />W-I-T-N-E-S-S-E-T-H <br />A. The Charles W. Bowers Museum is owned by City and managed and operated by <br />Corporation in accordance with the terms of a trust agreement executed by Charles W. and Ada <br />Bowers dated May 26, 1924 and that certain Agreement dated April 20, 1987, as amended by that <br />certain Amendment to Agreement dated April 5, 1993 (jointly, the "Management Agreement"). <br />B. Pursuant to terms of the Management Agreement, the management fee to be paid <br />annually by the City to the Corporation is to be reduced on an annual basis with the goal of <br />reducing the fee to a minimal amount after ten (10) years (the "Annual Compensation <br />Adjustment"). <br />C. The Corporation has requested that the Annual Compensation Adjustment be tolled <br />for a period of five (5) years to allow the Corporation to maintain the current level of programming <br />at the Museum and still achieve the goal of reduction of the management fee. <br />A-G-R-E-E-M-E-N-T <br />WHEREFORE, for and in consideration of their mutual and respective covenants and <br />promises hereinafter set forth, and subject to the terms and conditions of this Agreement, the parties <br />hereto do hereby agree as follows: <br />Amendment of Term of Management Agreement <br />Section 1.01 (1) of the Management Agreement is hereby amended to read as follows: <br />"(1) "Term" means a period of twenty-five (25) years from and after the <br />Commencement Date, and any extended term occurring by reason of Corporation's <br />exercise of an option to extend as herein provided." <br />2. Amendment to Compensation Formula <br />Section 4.07 of the Management Agreement is hereby amended in its entirety to read as <br />follows: <br />C:\NINWAS\RMP\9we[e Xana9areePt A9iKmen[ 1949 AmeMmen[--Mean.Coc <br />