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Municipally Known As 2480 15Th Sideroad, King City, Ontario And

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Municipally Known As 2480 15Th Sideroad, King City, Ontario And SPORTS FIELD AGREEMENT - VILLANOVA COLLEGE THIS AGREEMENT dated as of the day of 2014 BETWEEN: ST. THOMAS OF VILLANOVA CATHOLIC SCHOOL (the "School") -and- THE CORPORATION OF THE TOWNSHIP OF KING (the "Township") WHEREAS: A. The School is a not-for-profit corporation incorporated pursuant to the laws of the Province of Ontario. B. The School owns or controls certain property located in The Township of King, Ontario municipally known as 2480 15th Sideroad, King City, Ontario and legally described as Part of Lot 11, Concession 4 King PIN 03371-0272 (LT), Township of King, Regional Municipality of York (the "Property") upon which it operates a middle school and high school commonly referred to as Villanova College. C. A new artificial turf sports field on the Property, as more particularly described herein, will serve the needs of both the School and the Township. D. The School has agreed to the construction by the Township (at the Township's sole cost and expense) of a new artificial turf sports field, as more particularly described herein, on the Property, subject to and upon the terms set out herein. NOW THEREFORE in consideration of Ten ($10.00) Dollars and other valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Parties (as hereinafter defined) hereto agree each with the other as follows: ARTICLE 1 INTERPRETATION 1.1 Definitions In this Agreement, including in this subsection 1.1, the following capitalized words or terms have the following meanings, unless something in the subject matter or context is inconsistent therewith: a) "Agreement" means this agreement, including all schedules attached hereto, and all amendments made in accordance herewith; b) "Business Day" means any day, other than a Saturday, Sunday or statutory or civic holiday in Ontario; c) "Consultant" means the firm retained by the Township, with the consent of the School acting reasonably, to prepare the Plans and Specifications for the Sports Field; d) "HST" means taxes eligible under Part IX of the Excise Tax Act (Canada) and applicable legislation which combines Ontario's sales taxes; e) "Net Revenue" means the difference resulting from the subtraction of the total amount of all costs incurred by the School pursuant to Section 3 of this Agreement (including but not limited to commissions, accounting costs, legal costs, transactional costs, and repair and maintenance costs) from the amount of all revenues received by the School pursuant to Section 3 herein; f) "Parties" means the School and the Township and "Party" means either one of them; g) "Person" means a natural person, partnership, limited partnership, limited liability partnership, syndicate, sole proprietorship, corporation or company (with or without share capital), limited liability company, stock company, trust, unincorporated association, joint venture or other entity or governmental authority; h) "Plans and Specifications" means the plans and specifications for the Sports Field prepared by the Consultant; i) "Project Costs" means all hard and soft costs associated with the development and construction of the Sports Field, including without limitation, all reasonable amounts, fees and disbursements incurred for architects, designers, engineers, landscapers, surveyors, construction managers, lawyers and all other professionals and consultants, (but excluding the legal fees incurred by any party relating to the negotiation and finalization of this Agreement), costs associated with any approvals required to construct the Sports Field including all site application and permit fees, all hard and soft construction costs including without limitation excavation, site preparation, landscape costs, costs required to provide electricity to the Sports Field, all lighting and electrical connections and appurtenances required therefor, drainage facilities, and all payments to contractors for labour materials, supplies and services and all applicable taxes, including HST and net of all rebate amounts; j) "School Hours" means 6:00 a.m. to 6:00 p.m. on each day and such other times during each day during which the School provides as part of its curriculum, classes, courses of study or academic programs; k) "Sports Field" means the new artificial turf sports field (including but not limited to athletic lighting, general lighting, seating, signage, pathways providing access, equipment and all associated grading, drainage, electrical and plumbing) to be constructed on the Property as approximately shown on the Site Plan attached as Schedule "A" and in accordance with the Plans and Specifications approved by the Parties, all as provided herein. 1.2 Sections and Headings The division of this Agreement into Articles, Sections and other subdivisions and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Agreement. Unless something in the subject matter or context is inconsistent therewith, references herein to Articles, Sections or other subdivisions are to Articles, Sections or other subdivisions of this Agreement. 1.3 Extended Meanings The terms "this Agreement", "hereof, "hereunder" and similar expressions refer to this Agreement and not to any particular Article, Section or other subdivision hereof and include any agreement or instrument supplemental or ancillary hereto. Words importing the singular number Appendix 'A' - PRC-2014-16 only shall include the plural and vice versa, and words importing gender shall include all genders. The terms "including" and "such as" shall mean "includes without limitation" and "such as without limitation", as the case may be. Time is of the essence in the performance of the Parties' respective obligations. 1.4 Schedules The following schedules are incorporated by reference in and form a part of this Agreement: Schedule "A" Site Plan Schedule "B" Construction Timeline Schedule "C" Maintenance Standards Schedule "D" Financial Contribution Conditions ARTICLE 2 INSTALLATION 2.1 Preparation of Plans and Specifications The Township shall, in consultation with the School, cause the Consultant to prepare the Plans and Specifications for the Sports Field, comprising the installation of artificial turf on the playing field located on the Property at the approximate location shown on the Site Plan attached hereto as Schedule "A". The Parties agree to provide to the Consultant all advice, information and assistance reasonably required by them from time to time in order to prepare the Plans and Specifications. 2.2 Approval of Plans and Specifications The Township shall submit the Plans and Specifications to the School for its approval acting reasonably and without delay. The Parties will work cooperatively and in good faith to address any concerns and/or required revisions to the Plans and Specifications as soon as possible. The Township acknowledges that it has the sole responsibility to retain and instruct the appropriate Consultant and other experts, as required, with the consent of the School acting reasonably. The Plans and Specifications, once approved by the Parties, shall constitute the entirety of the Sports Field Project contemplated by this Agreement. 2.3 Permit and Other Approval Applications The Township shall file an application for any required building permits or other required approvals as soon as possible following the approval of the Plans and Specifications by the Parties at the Township's sole cost and expense and will diligently pursue the permit application and all other required approvals needed for the construction and operation of the Sports Field in compliance with all applicable laws. 2.4 The Township to Construct The Township agrees to develop and construct the Sports Field in accordance with the approved Plans and Specifications, in a good and workmanlike manner and otherwise in accordance with the provisions of this Agreement and at its sole cost and expense. The Township shall arrange to commence construction as soon as possible following issuance of the building permit and attainment of any other municipal or regulatory approvals, subject to weather conditions. The Township will use commercially reasonable efforts to complete the Sports Field as soon as possible following commencement of construction in accordance with the timeline set out in Schedule "B" attached hereto. Notwithstanding any other provision Appendix 'A' - PRC-2014-16 contained herein, if the construction of the Sports Field has not commenced on or before June 30, 2015, either the School or the Township shall have the option, by notice in writing to the other, to declare this Agreement at an end. In such event, the Parties shall be released from their respective obligations. 2.5 Ownership of the Sports Field The Sports Field, once constructed, shall be owned exclusively by the School and shall form part of the Property. 2.6 Project Review and Revisions of Plans and Specifications The Consultant will be responsible for the overall project management of the design and construction of the Sports Field. Subject to the mutual agreement of the Parties, the scope of work and the specifications identified in the Plans and Specifications may from time to time be modified in order to ensure that the Project Costs do not exceed the estimated cost to construct the Sports Field of One Million, Six Hundred Thousand Dollars ($1,600,000.00) (the "Estimated Cost"). ARTICLE 3 PROJECT COSTS & MARKETING RIGHTS 3.1 Contributions and Payment of Project Costs The Project Costs shall be paid solely
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