Agmt02 Redwood City Scho... (2) - Laserfiche WebLink

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, the construction cost of the facilities described in Paragraph 2 in an amount equal to 1/30th of the total construction cost for each year or fraction thereof still remaining in the agreement. After the expiration of the thirty (30) year term of this agreement, District shall be free of its obligation to reimburse City for the construction costs of (D) the facilities described in Paragraph 2. If District terminates this agreement prior to the expiration of fourteen (14) years from the commencement of this agreement, District shall, in addition to the payments described in subparagraph lO(C), reimburse City for the construction cost of the swimming pool described in Paragraph 7, in an amount equal to 1/30th of the total construction cost for each year or fraction thereof still remaining of the above referenced fourteen (14) year period. District's maximum obligation hereunder is l4/30th of the pool construction cost. Said obligation will decrease by 1/30th for each year this agreement is in effect. After the expiration of fourteen (14) years from the commencement of this agreement, District's obligation to reimburse City for construction costs of the swimming pool shall cease entirely. 10. RECREATION FACILITIES AT TERMINATION. At the end of the thirty year term described in Paragraph 8, or upon earlier termination by the City of Redwood City, the facilities described in Paragraphs 2 and 7, and any additional facilities constructed hereunder, shall be free of District's obligation to pay for any part of them and shall be District's sole property. Said facilities will be delivered in good condition. 6 of 7 r- """.-----,,-.,..--..,....--,..---..--, ..