Agmt21 Ace Parking, Inc. - Laserfiche WebLink

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ORIGINAL THIS AGREEMENT is made and entered into this I ` #day of ZO20, (the "Effective Date") by and between the City of (Redwood City, a municipal corporation of the State of California (hereinafter "City") and ACE Parking, Inc. (hereinafter "Contractor"). RECITALS 1. City is the owner of certain off-street parking facilities known as the Jefferson Garage located at 825 Middlefield Road/Theatre Way and Marshall Garage located at 750 Marshall Street (hereinafter "Garages"); collectively referred to herein as "Parking Facilities". 2. City requires the services of a qualified contractor to operate and maintain the Parking Facilities. 3. Contractor has the necessary experience in operating and maintaining off- street parking facilities. 4. Contractor has submitted a proposal to City and affirmed its willingness to operate and maintain the Parking Facilities in accordance with the terms and provisions of this Agreement. NOW, THEREFORE, for and in consideration of the covenants, promises and Agreements hereinafter set forth, the parties agree as follows: SECTION 1. TERM The term of this Agreement shall be from the Effective Date above and will be in effect until December 1, 2025 ("Initial Term"). Option to Extend. The City shall have the option to extend the term of the Agreement for additional one (1) year increments, for a period not to exceed four (4) additional years (each additional year, an "Option Term"). City shall notify the Contractor of its intention to exercise the option to extend the Agreement at least ninety (90) days prior to the end of each such term. Upon such notification, the City and Contractor shall execute an amendment extending the term for one (1) year. Such amendment shall be approved by the City Manager and shall include the approved Option Term Budget as described in Section 10.D, below. SECTION 2. SITES Contractor shall operate and maintain the Parking Facilities, unless this Agreement is expanded to include other sites in the future and agreed to in writing by both parties. SECTION 3. CONTRACTOR'S DUTY TO OPERATE REV: 12-10-2020 RL ATTY/AGR.2020.291/ACE Parking (Page 2 of 31) 3