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WHEREAS, the County is authorized to contract with private entities for any public purpose; and <br /> WHEREAS, the County is authorized to enter into continuing, multiple-year agreements and <br /> contracts; and <br /> WHEREAS, the County has determined that it is in the best interest of the County that, instead <br /> of building and operating its own pool, the County contract with the Corporation to provide a public pool <br /> and operational services through the operation of the CAC Pool for the benefit of Orange County <br /> residents; <br /> NOW, THEREFORE, in consideration of the mutual covenants herein contained, the Corporation <br /> and the County hereby agree as follows: <br /> ARTICLE I <br /> PURPOSE OF AGREEMENT; ESSENTIALITY <br /> The purpose of this Agreement is to give the residents of Orange County access to a public <br /> swimming pool by having the County compensate the Corporation for the costs associated with the use <br /> and operation of the CAC Pool. <br /> ARTICLE II <br /> ENGAGEMENT <br /> Section 2.01. Engagement of the Corporation. The County hereby engages and retains the <br /> Corporation as an independent contractor to provide and operate the CAC. <br /> Section 2.02. Scope of Engagement. The Corporation shall provide the CAC and furnish facility <br /> and operational services as reasonably required for the efficient construction and operation of the CAC. <br /> The Corporation agrees to build and operate the CAC similarly to the manner in which the County would <br /> build and operate its own recreation facilities, as set forth in the Operating Memorandum attached hereto <br /> as Exhibit A. <br /> ARTICLE III <br /> PAYMENT OBLIGATION <br /> Section 3.01. Payment of Fee. For services to be rendered by the Corporation hereunder, the <br /> County hereby agrees to pay an annual fee (the "Fee") of Four Hundred Thousand Dollars ($ 400,000). <br /> The Fee will be paid in four quarterly installments of One Hundred Thousand Dollars ($100,000) each <br /> quarter. The first quarterly installment payment of the Fee is due and payable on the first day the CAC <br /> is open for use by general public(the "Opening Date"). The second quarterly payment will be due and <br /> payable on the first day of the third subsequent month. Subsequent quarterly payments will be due and <br /> payable on the first day of the first month of the quarter following the second payment through the term <br /> of the Agreement, as set forth in Section 4.02. If the date for making payment as provided herein, is not <br /> a business day, such payment may be made on the next succeeding business day, with the same force and <br /> 2 <br />