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<br />, t.. <br /> <br />" <br /> <br />I. <br /> <br />PROJECT, <br /> <br />City of Santa Ana <br />Centennial Park <br /> <br />AGREEMEN~ No. 003-047 <br /> <br />1 <br /> <br />this AGHEEMENT which will provide for phase~out of COUNTY'S annual reimbursement to <br /> <br />2 <br /> <br />CITY over a three (3) year period and will immediately permit the CITY greater <br /> <br />3 <br /> <br />flexibility in the use and operation of the Park; and <br /> <br />4 <br /> <br />WHEREAS, CI~Y and COUNTY propose under this AGRE~MEN~ that COUNTY would <br /> <br />5 <br /> <br />contribute a fixed amount of $230,OUO for three years for a cumulative maximum toLal <br /> <br />6 <br /> <br />amount of $690,000, which would provide up to $375,000 to defray the Park's operations <br /> <br />7 <br /> <br />and maintenance costs, and the remaining would be utilized by CITY for local park <br /> <br />8 <br /> <br />development, which shall hereinafter be referred to as "PROJECT", costs. <br /> <br />9 <br /> <br />NOW, THEREFORE, CITY and COUNTY do hereby agree to the fallowing terms and <br /> <br />10 <br /> <br />conditions for financial assistance to the operations and maintenance of the Park. <br /> <br />11 <br /> <br />1, RECITALS <br /> <br />12 <br /> <br />The Recitals set forth above are true and correct; are a material part of this <br /> <br />13 <br /> <br />lI.GREEMEN'l', and are incorporated herein by this reference, <br /> <br />14 <br /> <br />2. TIME <br /> <br />15 <br /> <br />Time is of the essence in this AGREEMENT. <br /> <br />16 <br /> <br />3. EFFECT OF AGREEMENT <br /> <br />17 <br /> <br />This AGREEMENT supercedcs the ORIGINAL AGREEMENT, and the ORIGINAL AGREEMENT shall be <br /> <br />18 <br /> <br />terminated and of 00 further force and effect upon full execution of this AGREEMENT. <br /> <br />19 <br /> <br />This AGREEMENT fully expresses all understanding of the parties and is the total <br /> <br />20 <br /> <br />AGREEMENT between the parties as to the subject matter of this AGREEMENT. <br /> <br />No material <br /> <br />21 <br /> <br />addition to or alteration of the Lerms of this AGREEMENT, whether written or verbal, <br /> <br />22 <br /> <br />by the parties, their officers, agents or employees, shall be valid unless in the form <br /> <br />23 <br /> <br />of a written amendment to this AGREEMENT, and is formally approved and executed by all <br /> <br />24 <br /> <br />parties, <br /> <br />25 <br /> <br />26 <br /> <br />2 <br />