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WHEREAS, the County is authorized to enter into continuing, multiple-year contracts; <br /> and <br /> WHEREAS, the County has determined that it is in the best interest of the County that, <br /> instead of building and operating its own pool, the County contract with TYHA to provide a <br /> public pool and operational services through the operation of the TCAC Pool for the benefit of <br /> Orange County residents; <br /> NOW, THEREFORE, in consideration of the mutual covenants herein contained,TYHA <br /> and the County hereby agree as follows: <br /> ARTICLE I <br /> hmscolAgursuatsegtiant <br /> The purpose of this Agreement is to give the residents of Orange County access to a <br /> public swimming pool by having the County compensate TYAC for the costs associated with the <br /> use and operation of the TCAC Pool. <br /> ARTICLE II <br /> Engagement <br /> Section 2.01 -Engagement of TYHA. The County hereby engages and retains T"YtIA <br /> as an independent contractor to provide and operate the TCAC Pool. <br /> Section 2.02 - En em . TYHA shall provide the TCAC Pool and furnish <br /> facility and operational services as reasonably required for the efficient construction and <br /> operation of the TCAC Pool. TYRA agrees to build and operate the TCAC Pool similarly to <br /> the County would operate its own recreation facilities, as set forth in the Operating <br /> Memorandum attached hereto as Exhibit A. <br /> ARTICLE III <br /> Payment Obligation <br /> Section 3.01 - .Payment of Fee. For services to be rendered by TYRA hereunder, the <br /> County hereby agrees to pay an annual fee ("Fee") of four hundred thousand dollars ($ <br /> 400,000). The Fee will be paid in four quarterly installments of one hundred thousand dollars <br /> ($100,000)each quarter. The first quarterly installment payment of the Fee is due and payable <br /> on the first day the TCAC Pool is open for use by the general public (the "Opening Date"). The <br /> second quarterly payment will be due and payable on the first day of the third subsequent month <br /> thereafter. Subsequent quarterly payments will be due and payable on the first day of the first <br /> month of the quarter following the second payment through the term of the Agreement, as set <br /> 2 <br />