HomeMy WebLinkAboutEc-Net Thunderville Concessions
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Memorandum of Agreement CMOA")
Thunderville Concessions
1. PARTIES:
This agreement demonstrates an understanding among the following partners:
/. Event Concepts Network ("ECN")
· City of Jeffersonville, Indiana ("CITY")
2. DEFINITION
"ECN" is a Special Event company headquartered at 1006 Barret Ave. Louisville
Kentucky 40204.
3.
PURPOSE
"ECN" proposes to manage a CONCESSION PROGRAM ("PROGRAM") for the
"CITY" during Thunderville. The partners will work together to provide a first-
class event for the city of Jeffersonville, Indiana, the Kentucky Derby Festival and
all other stakeholders. The "CITY" will designate public property to be included in
the "PROGRAM". It is understood that this agreement does not extend to private
property .
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4. RESPONSIBIUTIES OF TIIE PARTIES
City.
1) Provide or provide access to all services for vendors, i.e. adequate space,
utilities, security, permitting and other support services. All of the above to
be further defined and mutually agreed upon.
2) Mandate all vendors register with EC.NET Assist with prohibiting
unauthorized vendors in the defined areas of the "PROGRAM".
3) City may select certain vendors to grandfather in with written authorization
from a (designated) city official.
Event Concepts
1) Sell space to approved vendors and manage the "PROGRAM".
2) Insure all vendors are in compliance with regulations by submitting
necessary applications, health department permits, menus and pricing, etc.
3) Provide support services in regards to waste management.
4) Provide an umbrella insurance policy of $2,000,000.00
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5. FINANCIAL TERMS.
Event Concepts
1) Will establish and maintain a separate bank account for the
"PROGRAM" .
2) Will maintain accurate accounting records and reports for the
project.
3) Pay the "CITY" 35% of net profit of project.
Example: Permit Fees (income) $100,000.00
Cost of execution $20,000.00
Net profit $80,000.00
Amount Due City $28,000.00
4) All amounts are due to the "CITY" within 10(ten) days after the
Event.
5. FORMAL AGREEMENT.
It is understood that this "MOA" is a non-binding agreement and shall serve to
allow the parties to proceed with the project. Either party may request, prepare
and be responsible for the costs of a formal contract based on this agreement.
This must be complete and signed by both parties by March 15, 2008 or this
agreement, which may be modified by mutual agreement from time to time, shall
prevail.
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