HomeMy WebLinkAboutContract 44352 CITY SECREARY
CONTRACT'N,O.
TRUST FUND EVENT SUPPORT' C NT CT
NASCAR Sprint Cup and Nationwide Series Races April 2013
This TRUST FUND EVENT SUPPORT C � T. CT ("Agreement") is made and
entered into by and between the CITY OF FORT WORTS the "City"), a homie rr le
municipality organized
INC. ("TMS"), a Texas corporation and the NATIONAL ASSOCIATION FOR STOCK
CAR AUTO, RACING, INC. ("NASCAR"),, a Florida corporation,
RECITALS:,
',he City, TMS, and NASCAR (collectively, Parties" hereby agree that the following
statements are true and correct a nd constitute the basis upon which the Parties have entered into
this Agreement*,
A. FW Sports Authority, Inc. is a public non-profit corporation created by the City
pursuant to the Industrial Development Corporation .pct "Sports Authority") to aid, assist, and
act on behalf of the City in the performance of its governs-enta.l ffinctions, which include, hnt are
not limited to, the undertaking of projects as authorized by Section 4B of Article 5190.6 of
Vernon's Texas Civil Statutes (now recodif ed as Chapter 51015 of the texas local Government
Gads).
B. In accordance with the Sports Authority's purposes to act on behalf of the City
and as required by that certain Amended and Restated Master Agreement Regarding the
S uperspeedway Complex Development otherwise known as Texas Motor Speedway) between;
the City, the Sports Authority, TMS, and Speedway Motorsports, Inc., dated as of December 18,
1996 "Master Agreement"),, the Sports Authority and T S have entered into that certain Lease
Agreement "Lease") whereby TMS has agreed with the City to lease and operate Texas :Motor
Speedway ("Speedway"'),.
C. Pursuant to Section 3.4 of such Lease, TMS is obligated to use the Speedway for
the primary purpose of conducting rrrotorspo.rts events sanctioned by nationally recognized
motorsports racing associations that sanction motorsports racing errents, including, specifically,
NASICAR.
D. NASCAR sanctions and governs multiple auto racing sports events throughout the
United States on an annual basis, and the process for deciding where to hold a sanctioned event
is highly competitive and takes into, account many factors, including, but not limited to, the
condition of the racing facility, the market area history of supporting motorsports, promising
future of motorsports support, the competition schedule, travel requirements for competitors and
officials, weather conditions, past history of facility operations and management, financial health
of the racing facility, and NASCA 's overall business goals.
OFFICIAL RECORD
RECEIVED APR 0 !FICIAL
v IT
CITY SECRETARY
�Evert Trust Fun Agreement between
City o Fort W rt,i NASCAR, Speedway 1 t r p � , Inc., n Texas Motor speedway,Inc Of 11.
i owing -competitive multi-state,,
Pursuant to an appl'cation., and fo�ll, a highly� � site
selection process, NAS,CAR selected the Speedway to serve as the sole venue for the NASCAR
Sprint Cup and Nationwide Series events to be held from April 11-13, 20131 (the "Event"'),
which specific Event is not held more than one time ire Texas or an adjoining, state in any year.
F. TMS, as the Sports Authority's Lessee and consistent with T'MS's, obligations to
the Sports Authority under the Lease, entered into a sanction agreement with NASCAR to hold
this Event at the Speedway ("Sanction Agreement").
G. TEX. REV. CIV. ST AT. art. 5190.14, § 5C., as amended as it may be amended from
time-to-time, the "Act") authorizes the Texas Comptroller of Public Accounts ("Comptroller")
to establish the Events Trust Fund (the "Fund"). In accordance with the Act, the City, as the
endorsing municipality, submitted a request to the Comptroller for participation in the Fund,
which included, among other things, the submission of an economic 'impact study, conunissioned
by TM S.
H. TMS engaged Gerald L. Grotta, Ph.D. of Grotta Marketing Research ("Grotta")
to prepare an Analysis, of the Economic Impact of Texas Motor Speedway for the Event for
purposes of submitting to the Comptroller to determine eligible Texas state tax revenues
generated by the Events.
1. The Comptroller has, pursuant to subsection (b) of the Act, analyzed the
a,
incremental increase in certain sales and use, hotel occupancy and mixed beverage tax receipts to
be collected by or on behalf of the City and the State of Texas directly attributable to the
preparation for and presentation of the Event and related activities,
J. Based on its analysis, the Comptroller, by letter to the City dated January 3, 13,
has determined that it will deposit $1,,02,9,584. of State funds into the Fund if matched by
$164,734.00 in remittances by or on behalf of the City, for a total Fund amount of
1,1 94,31 8.00. As an endorsing municipality under the Act, the City has or will remit
$164,734.00 to the Comptroller for deposit into the Fund. Funds deposited into the Fund may be
used by the City to fulfill its obligations under an event support contract, as defined in the Act,
governing the Event., This Agreement is intended to serve as such event support contract.
K. The Act provides, that the money in the Fund may be used for "'...the payment of
costs relating to the preparations necessary or desirable for the conduct of the event and the
payment of costs, of conducting the event, including improvements or renovations to existing
facilities or other facilities and costs of acquisition or construction of new facilities or other
facilities" (the "Permissible Uses").
L. The obligations of the Parties under the Agreement are set forth in Section 5 and
include a plan jointly prepared by the City and TMS consistent with the Sanction Agreement that
r%
outlines the Permissible Uses -that the Parties agree are, without limitation, necessary for the City
and T to provide incremental services necessary for the Event as well as other costs necessary
4
Event Trust I"und Agreement between
City of Fort Worth,NASCAR,Spleedway Motorsports, Inc.,and Texas for Speedway, Inc. 2 of I I
for City and Tms to host the Event and for NASCAR to conduct the Event, which said plan is
attached hereto as Exhibit "A" and incorporated herein for all purposes (the "Event Plan").
M. Pursuant to Resolution No. 3513-08-2007 adopted on August 14, 2007, the City
Council of the City has authorized the City Manager to negotiate agreements that promote major
sporting or athletic events beriefitting the City and secured, in part, on account of the Fund and
the provisions of the Act.
NOW, THEREFORE, for and in cons,ideration of the premises, undertakings, and
mutual covenants of the parties set forth herein and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree, as follows:
AGREEMENT
1. RECITALS.
The parties agree that the recitals set forth above in this Agreement are true and correct,
and the representations, covenants and recitations set forth therein are made a part hereof for all
purposes.
2. TERM.
This Agreement is effective as of January 4, 2013 and shall remain in full force and effect,
until the later of(i) December 31, 2011.3 or (ii) the date as of which the Total Fund Amount has
been disbursed in accordance with the Act and with this Agreement, unless terminated earlier
pursuant to the ter ms of this Agreement.
3, APPLICATION FOR EVENT TRUST FUND DISBURSEMENT.
The City, as the endorsing municipality, has previously applied to the Comptroller for the
creation of one or more Events Trust Funds (each an "ETF") for the Event under the provisions
of Act.
4. TRUST FUND DEPOSIT.
In consideration of NASCAR's selection of the Speedway as the sole site for the Event,
the City, as the endorsing munici,pality, will remit One Hundred Sixty-Four Thousand Seven
Hundred Thirty-Four and No/1010 Dollars ($164,734.001) to the Comptroller, as set forth in the
January 4, 2013 letter which was issued by the Comptroller estimating the incremental 'increase
in tax revenue under the Act as a result of the Event and setting forth the contribution to the Fund
by the City (the "City Remittance"). The City Remittance is intended to trigger the State of
Texas contribution to the ETF(s) under the terms of the Act., The City Remittance plus the
contributions by the State of Texas to the ETF(s) in accordance with the Act shall be referred to
herein as the "Total Fund Amount".
Event TrUst FUnd Agreement between
City of Fort Wortill,NASCAR,Speedway Motorsports, Inc,,and Texas Motor Speedway,Inc. 3 of 11
5. OBLIGATIONS OF THE PARTIES.
(a) NASCAR. NASCAR, via the Sanction Agreement, agrees to hold and conduct
the Event at the Speedway on April I I-13, 2013. NASCAR also agrees that the covenants and
promises made in this Agreement, including the requirements in the proposed Event Plan are
consistent with the obligations of the Sanction Agreement and care necessary for conducting the
Event.
(b) Cit y. The City agrees to provide the services directly related to the expenses for
the benefit of the Event and NASCAR consistent with the Event Plan, The City also agrees to
distribute the Total and Amount as, follows-, (0 first, to the City to reimburse the City for actual
0
incurred i in providing the City services consistent with the Permissible Uses, as
costs d by the City ' I
generally outlined in the Event Plan, and (11) second, within five (5) business days following,
receipt by the City of the Total Fund Amount and appropriate expense documentation by TMS,
to the fullest extent allowable under the Permissible Uses, as generally outlined in the Event
Plan, all amounts remaining in the -Fund to T to reimburse CMS for actual costs incurred by
TMS consistent with the Event P'lan. The City will be responsible for dealing with the
Comptroller with respect to disbursements from the Fund.
(c) TMS. TMS, as the Sports Authority's Lessee and for the benefit of the City, and
consistent with TMS's obligations to the Sports Authority under the Lease and to the City under
the Master Agreement, agrees to provide the goods, and services directly related to the expenses
for the benefit of the Event consistent with the Event Plan.
6, COMMITMENT OF TMS.
Not later than five (5) business days of moneys in the Fund have been distributed in
accordance with Section 5 above, "YMS, will pay the City an amount equal to the City
Remittance.
7, DOCUMENTATION.
(a) TMS shall cooperate with the City in documenting costs, incurred by TM S for the
Event to evidence the Permissible Uses.
(b) T'MS hereby certifies and warrants that all documentation submitted to the City
fully and accurately represents the actual costs incurred by TMS in hosting the Event and is
consistent with the Permissible Uses under the Act. TMS shall be liable to the City for any
damages resulting from a breach of this section. This section shall survive the expiration or
termination of this Agreement.
8,
NON-EXCLUSIVE REMEDIES.
Except as otherwise provided herein, no remedy herein conferred or reserved is intended
to be exclusive of any other available remedy or remedies, and each and every such remedy shall
be cumulative and shall be in addition to every such remedy given under this Agreement or now
Event Trust and Agreement between
City of Fort Worth,NASCAR, Speedway Motorsports, Inc.,and Texas Motor Speedway,Inc. 4 of I I
or hereafter existing at law or in equity or by statute., It is, expressly agreed that the remedy at
law for breach by a party of its obligations hereunder may be inadequate in view of' the
complexities and uncertainties in measuring the actual damages which would be sustained by
reason of either party's failure to comply fully with each of such obligations. Accordingly, the
obligations of each party hereunder are expressly made enforceable by specific performance. If
It becomes necessary for any party to this Agreement to bring suit to enforce or, interpret the
provisions hereof, the prevailing party to such suit shall be entitled to its, reasonable and
necessary attorney's fees and costs.
9. TERMINATION FOR CAUSE.
The City may termin ate this Agreement if TMS fails to comply with any term, provision,
or covenant of this Agreement in any material respect. If an event of default, occurs, City shall
give written notice that describes, the default in reasonable detail to TMS,. TMS must cure such
default within thirty (30), calendar days after receiving notice from City, unless otherwise agreed
to 'in writing by the parties. If the Event is cancelled for any reason, then this Agreement will
terminate immediately and the City shall not be held responsible or liable for its obligations
hereunder.
10. MUTUAL WAIVER OF CERTAIN DAMAGES,
THE PARTIES HEREBY EXPRESSLY, IRREVOCABLY,, FULLY AND FOREVER
RELEASE, WAIVE AND RELINQUISH ANY AND ALL RIGHT TO RECEIVE PUNITIVE,
EXEMPLARY AND CONSEQUENTIAL DAMAGES FROM THE OTHER PARTIES
HE (OR ANY PASS"', PRESENT OR FUTURE OFFICER, EMPLOYEE, AGENT,
REPRESENTATIVE, OR ADVISOR OF THE OTHER) IN ANY CLAIM, DEMAND,
ACTION,,, SUIT,, PROCEEDING OR CAUSE OF ACTION IN WHICH THE PARTIES ARE
PARTIES, WHICH IN ANY WAY (DIRECTLY OR INDIRECTLY) ARISES OUT OF,
RESULTS FROM OR RELATES TO ANY OF THE FOLLOWING, IN EACH CASE
WHETHER NOW EXISTING OR HERE"AFTER ARISING AND WHETHER BASED ON
CONTRACT OR TORT OR ANY OTHER, LEGAL BASIS: THIS AGREEMENT; ANY PAST,
PRESENT OR FUTURE ACT, OMISSION, CONDUCT OR ACTIVITY WITH RESPECT TO
THIS AGREEMENT; ANY TRANSACTION, EVENT OR OCCURRENCE,
CONTEMPLATED BY THIS AGREEMENT; THE PERFORMANCE OF ANY
OBLIGATION OR THE EXERCISE OF ANY RIGI.-IT UNDER THIS AGREEMENT; OR THE
ENFORCEMENT OF THIS AGREEMENT,.
11. SEVERABILITY.
If any provision of this Agreement is held to be illegal, invalid or unenforceabile under
present or future laws, the legality, validity and enforceability of the remaining provisions of this
Agreement shall not be affected thereby, and this Agreement shall be liberally construed so as to
carry out the intent of the parties to it.
Event Trust Rind Agreement between
City of Fort Worth,NASCAR,Speedway Mat orsports,Inc.,and"Texas Motor Speedway, Inc. 5 of I I
12. NOTICES.
Any notice, request or other communication required or permitted to be given under this
Agreement shall be given in writing by delivering it against receipt for "it, by depositing it with an
overnight delivery service or by depositing it in a receptacle maintained by the United States
Postal Service, postage prepaid, registered or certified mail, return receipt requested, addressed
to the respective parties at the addresses shown herein (and if so given, shall be deemed given
when mailed). Notice sent by any other manner shall be effective upon actual receipt by the
party to be notified. Actual notice, however and from whomever given or received, shall always
be effective when received. Any party's address fo�r nofice may be changed at any time and from
time to time, but only after thirty (30) days" advance written notice to the other parties and shall
be the most recent address, fumished it writing by one party to the other parties. The giving of
notice by one party which is not expressly required by this Agreement will not obligate that party
to give any future notice.
city. NASCAR,
City of Fort Worth National Association for Stock Car Auto Racing, Inc.
Attn: Director,, Public Events Dept. Attri: Steve O'Donnell
I O001 Throckmorton Senior Vice President, Racing Operations
Fort Worth 3 r IFX 76102 One Daytona Blvd
Daytona Beach, Florida, 32114
with copi*ev to with a copy tol:
the City Manager and National Association for Stock Car Auto Racing, Inc.
the City Attorney Attn: W. Garrett Crotty
at the same address General Counsel
One Daytona Blvd.
Daytona Beach,, Florida, 32114
TMS#
1"exas, Motor Speedway,, Inc.
Attn: Tom Kelly
3545 Lone Star Circle
3rd Floor
Fort Worth, Texas 76177
B. COMPLIANCE WITH LAWS.,ORDINANCES, RULES AND REGULATIONS�,
This Agreement is subject to all applicable federal, state and local laws, ordinances, rules
and regulations, including, but not limited tol, all provisions o�f'the City's Charter and ordinances,
as amended; provided, however, that, any future Charter or ordinance amendment shall not be
70
deemed to modify, amend, or negate any provision of this Agreement.
Event Trust Fund Agreement between
it of Fort Wot-th,,NASCAR, Speedway Mot ors port s, Inc.,and Texas Motor Speedw-ay, Inc. OT I I I
14. GOVERNMENTAL POWERS.
It is understood that by execution of this Agreement, the City does not waive or surrender
4 -
any of its governmental powers or immunities.
15. NO WAIVER,
0
The failure of any party to insist upon the performance of any term or, provision of this
Agreement or to exercise any right granted hereunder shall not constitute a waiver of that party's
N
right to insist upon appropriate performance or to assert any such right on any future occasion.
16. VENUE AND JURISDICTION.
If any action, whether real or asserted, at law or in equity, arises on the basis of any
provision of this Agreement, venue for such action shall lie in state courts located in Tarrant
County, Texas or the United States District Court, for the Northem District of Texas— Fort, Worth
Division. This Agreement shall be construed in accordance with the laws of the State of Texas.
17. NO THE -PARTY RIGHTS.
The provisions and conditions of this Agreement are solely for the benefit of the Parties,
and any lawful assign or successor of NASCAR. and/or TMS, and are not intended to create any
rights, contractual or otherwise, to any other person or entity.
18. FORCE MAJEURE.
it is expressly understood and agreed by the parties to this Agreement that if the
performance of any obligations hereunder is delayed by reason of war, civil commotion, acts of
God inclement weather, or other circumstances which are reasonably beyond the control of the
party obligated or permitted under the terms of this Agreement to do or perform the same,
regardless of whether any such circumstance is similar to any of those enumerated or not, the
party so obligated or permitted shall. be excused from doing or performing the same during such
period of delay, so that the time period applicable to such performance shall be extended for a
period of time equal to the period such party was delayed.
19* INTERPRETATION,,.
In the event of any dispute over the meaning or application of any provision of this
Agreement, this Agreement shall be interpreted fairly and, reasonably, and neither more strongly
for or against any party, regardless of the actual drafter of this Agreement.
20. CAPTIONS,
Captions and headings, used in this, Agreement are for reference purposes only and shall
not be deemed a part of this Agreement.
Even Frost Fund Agreement I)etween
City of Fort Worth,NASCAR, Speedway Mo for sports,Inc.,and Texas Motor Speedway,Inc. 7 of I I
21, ENTIRETY OF AGRE EMENT,
This Agreement, including any exhibits attached hereto and any documents 'incorporated
herein by reference,, contains the entire understanding and agreement between the Parties, and
any lawful assign and successor of TMS, as to the matters contained herein. Any prior or
contemporaneous oral or written agreement is hereby declared null and void to the extent in
conflict with any provision of this Agreement; provided, however, that -the Term Sheet
Regarding Use of Events Funds, from the State of Texas under the Act between the City and
TMS dated December 9, 2010 shall not be superseded by this Agreement. This Agreement shall
not be an unless executed in writing by all parties.
22, COUNTERPARTS.
This Agreement may be executed in any number of counterparts with the same effect as
if all of the parties had signed the same document. Such executions may he transmitted to the
other party by digital scan or facsimile and such scanned or facsimile execution shall have the
full force and effect of an original signature. All fully executed counterparts, whether original
executions or scanned or facsimile executions, or a combination, shall be construed together and
shall constitute one and the same agreement.
23. AMENDMENT.
No amendment, modification,, or alteration of the ten-s of this Agreement shall be
binding unless the same is in writing, dated subsequent to the date hereof, and duly executed by
the Parties hereto.
24. INDEMNIFICATION AND RELEASE.
,a. TMS COVENANTS AND AGREES TO AND DOES HEREBY
INDEMNIFY, HOLD HARMLESS, AND DEFEND, AT ITS OWN EXPENSE, CITY
FROM AND AGAINST ANY AND ALL CLAIMS, LAWSUITS, JUDGMENTS,
ACTIONS, CAUSES OF ACTION, LIENS, LOSSES, EXPENSES, COSTS, FEES
(INCLUDING, BUT NOT LIMITED! TO., ATTORNEY'S FEES AND COSTS OF
DEFENSE), PROCEEDINGS, DEMANDS, DAMAGES, LIABILITIES, AND/OR SUITS
OF ANY KIND OR NATU , INCLUDING, BUT NOT LIMITED TO, THOSE FOR
PROPERTY OR MONETARY LOSS, OR OTHER HARM FOR WHICH RECOVERY OF
DAMAGES IS SOUGHT, OF WHATSOEVER KIND OR CHARACTER, WHETHER
REAL OR ASSERTED, ARISING OUT OF, IN CONNECTION WITH, OR RESULTING
FROM ANY REPRESENTATIONS OR MISREPRESENTATIONS BY TMS AND/OR ITS
RESPECTIVE OFFICERS, AGENTS, EMPLOYEES, DIRECTORS, MEMBERS,
PARTNERS,, AND REPRESENTATIVES IN CONNECTION WITH THE EXECUTION,
PERFORMANCE, ATTEMPTED PERFORMANCE, OR NONPERFORMANCE OF THIS
AGREEMENT.
b. IF ANY ACTION OR PROCEEDING SHALL BE, BROUGHT' BY OR
AGAINST THE CITY IN CONNECTION WITH, ANY SUCH LIABILITY OR CLAIM,
Event Trust Rind Agreement between
City of Fort Worth,NASCAR, Speedway Motorsports, Inc,,and Texas Motor Speedway, Inc. 8 of 1 I
TMS, ON NOTICE FROM CITY, SHALL DEFEND SUCH ACTION OR PROCEEDING,
AT TMS'S EXPENSE, BY OR THROUGH ATTORNEYS REASONABLY
SATISFACTORY TO CITY.,
C. IT IS AGREED WITH RESPECT TO ANY LEGAL LIMITATIONS NOW
OR HEREAFTER IN EFFECT AND AFFECTING THE VALIDITY OR
ENFORCEABILITY OF THE IN DEMNIF1 CATION OBLIGATION UNDER THIS
SECTION 24, SUCH LEGAL LIMITATIONS ARE MADE A PART OF THE
INDEMNIFICATION OBLIGATION AND SHALL OPERATE TO AMEND THE
INDEMNIFICATION OBLIGATION TO THE MINIMUM EXTENT NECESSARY TO
BRING THE PROVISION INTO CONFORMITY WITH THE REQUIREMENTS OF
SUCH LIMITATIONS, AND AS SO MODIFIED, THE INDEMNIFICATION
OBLIGATION SHALL CONTINUE IN FULL FORCE AND EFFECT,
d. TMS agrees to and shall, release City from any and all liability for any damage or
loss sustained or caused by Company in connection with or incidental to performance under this
Agreement.
e. This section shall survive the expiration or termination of this Agreement.
25, AUDIT,
TMS agrees that City and its internal, auditor will have the right to audit, which shall
include, but not be limited to, the right to complete access to and the right to examine, the
financial and business records of, Tm.s that relate to the documentation provided to the City
pursuant to this Agreement,, including, but not limited to, all necessary books, papers,
documents, records,1 and personnel,, (collectively "Records") in order to dete inc compliance
with this Agreement. TMS shall make all Records available to City at 1000 Throckmorton
Street, Fort Worth, Texas, or at another location "in City acceptable to both pailies within, thirty
(301) days after notice by City and shall otherwise cooperate fully with City during any audit.
Notwithstanding anything to the contrary herein, this section shall survive the expiration or
earlier termination of this Agreement.
26. ASSIGNMENT.
Neither party hereto shall assign or transfer its interest herein without prior written
consent of the other party, and any attempted assignment or transfer of all or any part hereof
w I thuteach prior fitter
consent shall be void. This Agreement shall be binding upon and
shall 'inure to the benefit of the Parties, and their respective successors and permitted assigns.
27. AUTHORIZATION.
By executing this Agreement, NASCARS,'s, and TMS,'s agents affirm that each is
authorized to execute this Agreement and that all representations, made herein with regard to
NASCARS's and TMS's and identity, address, and legal status (corporation,, partnership,
ndividual, dbia, etc.) are true and correct.
i
Event Trust Fund Agreement between
City of Fort Worth,NASCAR, Speedway Motor rts,Inc.,and 1'exas Molt or Speedway,Inc. 9 of I I
28, REVIEW OF' COUNSEL.
The parties acknowledge that each party and its counsel have reviewed and revised this
Agreement and that the normal rules, of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation of this Agreement
or;exhibits hereto.
2 . NASCAR AGREEMENT. NASCAR joins this Agreement solely with respect to
paragraphs D., and E. of the Recitals, the following paragraphs of the "Agreement" section: 4.
5.(a), (but only with respect to covenants made directly by ASCAR); and, sections 8. 1 O, 11 12,
131 141 151 175 M 19, 2011, 22, 23, 2 ►, 27, and 28.
EXECUTED to be EFFECTIVE as of the at set forth Section 2 of this Agreement:
Is
CITY OF FORT WORTH. TEXAS MOTOR SPEEDWAY, INC.,
a Texas corporation:
B y By:
usa Alanis Eddie Gossagle
�s
Assistant City Manager Pres,ident and General Manager.
APPROVED AS TO FORM NATIONAL ASSOCIATION FOR STOCK
0
AND LEGALITY, CAR AUTO RACING, INC., a Florida Corp..
By:
Tyler F',"W"each Steve O'Donnell, Senior Vice President
Assistant City Attorney Racing Operations
�0000 Oro
ATTE
ST: j JA
A
B y/
Mary Kal'/ 00000
City Seer tiary
OFF
CITY SECRETARY
Event Trust Fund Agreement between FTv WORTH,TX
City of Fort Worth,NASCAR, Speedway Mot orsports, Inc.,and Texas Motor Speedwqry, 10,Of I I
N...............
ANW RENIF"W OF COUNSEL
I h(,,- parti s a#A.-I1 0\,N tliat each part and its counsel ha-vo r ,:wed and rcvj,Icd thil,
Agl ,,ko,-Tlltmt and that the normal ruics of con.,,truction to the effiXt, that x1v anlbluuitic� :11,C to be
rc,',,Avcd �1.iiatnst t dr,I-I'Lino., part-,, ,,iliall tiLit be cmplo3cd in the inWrpr UItion ofthl's Agrecment
01. liereto.
29. ',NASCAR k("REIMENT. NAS( AR.
Joins this solely vNAth rk;spc.ct to
par-Aik,,lr�tph,,-Is D.. ind 1". )j' the Recit;ds- 0,tc 1'011,owint) of*th(,.,,- -AgreommC Section.. 4':
.(a)(b�ut onl) with rcspe%:ttt coN vnwits., mad c directly by 'ASCAR)� and, scction,,�,, 8, M. 11, P
14. 15. 17 18, 19 2 '-16, 11-17, and 'IS.
EXL t T141 T to b�; EHTC I IV], .its olthe duv- "t [orth Scetion 2 o("thiq Np,,rcenlent.
CITY OF FORT WORTH: TFX VS mo,roR SIPFYEODMII.-ky INC.7
a xas corpot,10,01'11
susan .Ahlnl`�
tPPROVED AS TO FORM NATIONAL ASSOCIATION ]
D I F'G AL I"t Y ("A,R To 1z, 1!1S"G, INC, 1 1`101 Ida "jip.
BN: By:
Walluch ��tovct ()'Donnc-ll. k WC Pi-�-isid�:m
4 Of 00 ,Aq*441
1ty Atlot,ncy
xTTYIn T:
Mary
('0\ secrcl,ir\
1� m
'oof I I
jllc�
S C R
.................................. ..........
EXHIBIT "A"
EVENT PLAN'
This Event Plan is intended to provide the basis for reimbursement, to the fullest extent provided
by law or regulation, of costs relating to the preparations necessary or desira le for the! conduct
of the Event and the payment of costs of conducting the Event, 'Including improvements or
renovations, to existing -facilities or other facilities and costs of acquisition or construction of new
facilities or other facilities.
Specifically, the, City and T agree that the following, costs and expenses which will be
incurred and related to the Event, consistent with the Sanction Agreement, are appropriate for
reimbursement under the Act as Permissible Expenses to be reimbursed by the Fund:
Cit f Fort Worth Expense
• Police services
• Fire Department services
Texas Motor Speedway Expenses,
• Capital expenses acceptable to the Comptroller:'s, office including, without limitation,
purchase and maintenance of trams and roadway, and parking lot paving
improvements
Off-duty police officers
Part-time, event staff'(including, without limitation, private security officers, parking
personnel, ticket and gate personnel, ushers, event cleanup, standby event wort ers,1
and other temporary art- workers)
• Medical / EMT
• Firefighters /emergency personnel
• Event-related equipment rental
• Event portable restrooms,
• pre-race production expenses
• Out of state advertising (newspaper and television)
• FICA, FUT'A, and SE TA taxes incurred related to the foregoing personnel costs
Event Trust Fund Agreement between
0
City of Fort Worth,NABOB,Speedway Motorsports, Inc.,and Texas Motor Speedway,Inc. 11 Of 11