Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

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  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

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    OWYFKLH FP AOCODHAHCY OCI JRHWOYFJC J@ @OFW ROWE ..................................?;

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    [hktfjc 0.20 Rhrafts oci Jtmhr Opprjvols .....................................................................78[hktfjc 0.24 Kjciftfjcs tj Kjaahckfcd Kjcstruktfjc gy tmh @juciotfjc ...................78[hktfjc 0.2= Kfty Wfdmt tj Jgshrvh oci Fcsphkt .............................................................78[hktfjc 0.26 Kftys Gusfchss Fcklusfjc oci Ihvhljpahct Rloc .....................................78[hktfjc 0.?2 Kfty Rjlfkh Rjwhrs .....................................................................................78[hktfjc 0.?? Kjaplhtfjc .................................................................................................70[hktfjc 0.?7 Ahkmocfks Lfhcs .......................................................................................70[hktfjc 0.?; Kjcstruktfjc Torroctfhs ............................................................................70[hktfjc 0.?9 Wfdmt j` Kfty tj Rhr`jra Tjre ..................................................................70[hktfjc 0.?8 Kfty Faprjvhahcts oci Rrjnhkts ................................................................74[hktfjc 0.?0 Kjaaucfty Rore ........................................................................................7=

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    AOCODHAHCY ODWHHAHCY Rodh fff

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    AOCODHAHCY ODWHHAHCY Rodh fv

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    AOCODHAHCY ODWHHAHCY Rodh ?

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    OWYFKLH FRXWRJ[H OCI YHWA.

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    AOCODHAHCY ODWHHAHCY Rodh 7

    @juciotfjc mhrhgy okkhpts sukm oppjfctahct `jr tmh ghch`ft j` tmh Kftys rhsfihcts oci tmhvfsftjrs tj @ofr Rore fc okkjriockh wftm tmh thras j` tmfs Odrhhahct. Ymh @juciotfjc mhrhgykjaafts tj `ully oci kjaplhthly suppjrt @ofr Rore os o puglfk pore, aofctofcfcd oci aocodfcdtmh hvhcts, mfstjrfk `okflftfhs, oci drjucis j` @ofr Rore os o vfgroct, yhor-rjuci pore `jr hvhcts,iofly oktfvftfhs, oci plokh `jr qufht hcnjyahct. Ymh @juciotfjc odrhhs tmot @ofr Rore wfll jcly gh

    ushi `jr tmh Rhraftthi Xsh, os ih`fchi fc[hktfjc 9.28. Ymh purpjsh j` tmfs Odrhhahct fs tj sht`jrtm tmh thras oci kjciftfjcs upjc wmfkm tmh Kfty rhtofcs tmh @juciotfjc oci tmh @juciotfjcucihrtoehs oci odrhhs tj jphroth, aocodh, aofctofc, prjajth, hcmockh, oci faprjvh @ofr Rore(@ofr Rore Aocodhahct).

    [hktfjc ?.27 H``hktfvh Ioth, Kjaahckhahct Ioth, oci Fcftfol Yhra. YmfsOdrhhahct smoll kjaahckh oci gh gfcifcd jc tmh portfhs os j` tmh ioth j` opprjvol gy tmh IollosKfty Kjuckfl (tmh Kfty Kjuckfl)os sht `jrtm jc tmh lost podh j` tmfs Odrhhahct (tmh H``hktfvhIoth), wmfkm wfll fc cj hvhct gh lothr tmoc [hpthaghr ;2, 72?0. Ymh Kfty smoll turc jvhr ocitmh @juciotfjc smoll ossuah @ofr Rore Aocodhahct os j` ?7>2? o.a., Nocuory ?, 72?4 (tmhKjaahckhahct Ioth). Ymfs Odrhhahct smoll hxpfrh oci thrafcoth twhcty (72) yhors o thrtmh Kjaahckhahct Ioth, os j` ??>86 p.a., Ihkhaghr ;?, 72;0, uclhss thrafcothi horlfhr jrrhchwhi fc okkjriockh wftm tmfs Odrhhahct (sukm fcftfol twhcty (72) yhor phrfji, tmh FcftfolYhra, oci os horlfhr thrafcothi jr rhchwhi, tmh Yhra).

    [hktfjc ?.2; Whchwol Yhras. Ymh Yhra j` tmfs Odrhhahct aoy gh hxthcihi gy up tjtwj (7) kjcshkutfvh `fvh (8) yhor rhchwol thras (hokm, o Whchwol Yhra, oci tjdhtmhr, tmhWhchwol Yhras). F` hftmhr porty mhrhtj wfsmhs tj hxthci tmh Yhra j` tmfs Odrhhahct, sukmporty (tmh Whquhstfcd Rorty) smoll shci tj tmh jtmhr porty mhrhtj (tmh Whkhfvfcd Rorty) orhquhst `jr sukm rhchwol (tmh Whchwol Whquhst) ot lhost twhlvh (?7) ajctms, gut cj sjjchrtmoc hfdmthhc (?=) ajctms, prfjr tj tmh hxpfrotfjc j` tmh tmhc kurrhct Fcftfol Yhra jr WhchwolYhra, wmfkmhvhr opplfkoglh. Xpjc rhkhfpt j` tmh Whchwol Whquhst, tmh Whkhfvfcd Rorty smollmovh cfchty (62) ioys fc wmfkm tj hftmhr kjcshct tj jr rhnhkt sukm Whchwol Whquhst gy prjvfifcd

    tmh Whquhstfcd Rorty wftm wrftthc cjtfkh j` sukm kjcshct jr rhnhktfjc. F` tmh Whkhfvfcd Rortyrhnhkts sukm Whchwol Whquhst, tmfs Odrhhahct wfll hxpfrh ot tmh hci j` tmh tmhc kurrhct FcftfolYhra jr Whchwol Yhra, wmfkmhvhr opplfkoglh. F` tmh Whkhfvfcd Rorty kjcshcts tj sukm WhchwolWhquhst jr `ofls tj prjvfih wrftthc cjtfkh j` fts kjcshct jr rhnhktfjc wftmfc cfchty (62) ioys, tmhYhra smoll gh hxthcihi jc tmh soah thras oci kjciftfjcs `jr oc oiiftfjcol `fvh (8) yhors o`thr tmhhxpfrotfjc j` tmh tmhc kurrhct Fcftfol Yhra jr Whchwol Yhra, wmfkmhvhr opplfkoglh.

    OWYFKLH FFJTCHW[MFR, YWOC[@HW[, OCI YWOC[FYFJC.

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    AOCODHAHCY ODWHHAHCY Rodh ;

    Rore smoll thrafcoth os o rhsult tmhrhj`. Ymh Kfty smoll dfvh tmh @juciotfjc cjt lhss tmoc cfchty(62) ioys prfjr wrftthc cjtfkh j` tmh Kftys fcthctfjc tj sj kjcvhy, hckuaghr, jr olfhcoth.

    [hktfjc 7.27 @juciotfjc Okkhss.

    (o) Yrocsftfjc. Iurfcd tmh phrfji ghtwhhc tmh H``hktfvh Ioth oci tmhKjaahckhahct Ioth, tmh @juciotfjc smoll movh tmh rfdmt tj hcthr @ofr Rore `jr purpjshs j`faplhahctfcd trocsftfjc oktfvftfhs fc prhporotfjc `jr tmh kjaahckhahct j` jphrotfjc ociaocodhahct ucihr tmfs Odrhhahct, iurfcd wmfkm tfah oll prjvfsfjcs j` tmfs Odrhhahct wfll ghfc h``hkt tj tmh hxthct opplfkoglh tj tmh stotus j` trocsftfjc kjaplhthi tj ioth. Ymh @juciotfjcwfll cjt fcthr`hrh wftm oci wfll ush fts ghst rhosjcoglh h``jrts tj afcfafzh ifsruptfjc j` tmh Kftysjphrotfjcs prfjr tj tmh Kjaahckhahct Ioth. Ymh Kfty wfll ush fts ghst rhosjcoglh h``jrts tjokkjaajioth oci `okflftoth tmh @juciotfjc trocsftfjc oktfvftfhs5 prjvfihi, mjwhvhr, aotthrsfcvjlvfcd tmh mholtm, so`hty, oci whl`orh j` @ofr Rore hapljyhhs oci tmh puglfk smoll gh j`poroajuct kjckhrc oci tmh Kftys ihthrafcotfjc wftm rhdori tj ocy sukm aotthrs smoll gh `fcol.

    (g) @rja Kjaahckhahct Ioth. Os j` tmh Kjaahckhahct Ioth, tmh @juciotfjc

    smoll movh `ull okkhss tj oci kjctrjl j` @ofr Rore `jr @ofr Rore Aocodhahct fc okkjriockh wftmtmh thras oci kjciftfjcs j` tmfs Odrhhahct.

    [hktfjc 7.2; Yrocs`hr j` @ofr Rore Rhrsjcol Rrjphrty.

    (o) Dhchrolly. Ymh Kfty smoll kjcvhy tj tmh @juciotfjc prfjr tj tmh KjaahckhahctIoth, gy oc Ossfdcahct oci Gfll j` [olh (jr jtmhr opplfkoglh fcstruahct) tj gh h``hktfvh os j` tmhKjaahckhahct Ioth oci sugnhkt tj tmh rhvhrsfjc oci rh-kjcvhyockh tj tmh Kfty j` ocy sukmfthas hxfstfcd jc tmh ioth j` hxpfrotfjc jr thrafcotfjc j` tmfs Odrhhahct os sht `jrtm mhrhfc, tmhhqufpahct, `urcfturh, `fxturhs, supplfhs, kjaputhrs, fcvhctjry, @ofr Rore Phmfklhs, phrafts,fcthllhktuol prjphrty, oci jtmhr tocdfglh oci fctocdfglh phrsjcol prjphrty jwchi gy tmh Kfty

    (hxkhpt `jr tmh puglfk ort wjre lfsthi fc Hxmfgft 7.2;(h) oci tmh mfstjrfk `urcfsmfcds lfsthi fcHxmfgft 7.2;(`)) oci ushi fc kjcchktfjc wftm oci chkhssory tj tmh jphrotfjc j` @ofr Rore (sukmprjphrty, tmh @ofr Rore Rhrsjcol Rrjphrty). Yftlh tj @ofr Rore Rhrsjcol Rrjphrty trocs`hrrhios j` tmh Kjaahckhahct Ioth wfll rhaofc fc tmh @juciotfjc uctfl sofi fthas j` @ofr RoreRhrsjcol Rrjphrty orh rhplokhi, ifspjshi j`, trocs`hrrhi, thrafcothi, jr olljwhi tj hxpfrh gy tmh@juciotfjc fc okkjriockh wftm tmfs Odrhhahct. Oll tocdfglh oci fctocdfglh phrsjcol prjphrtyokqufrhi gy tmh @juciotfjc iurfcd tmh Yhra tj rhplokh, fckrhosh, jr oudahct tmh jrfdfcol @ofrRore Rhrsjcol Rrjphrty wfll olsj gh ihhahi @ofr Rore Rhrsjcol Rrjphrty, jwchi gy tmh@juciotfjc oci sugnhkt tj tmfs Odrhhahct. Ottokmhi mhrhtj oci fckjrpjrothi mhrhfc gy rh`hrhckhos Hxmfgft 7.2;(o) fs oc fcvhctjry j` @ofr Rore Rhrsjcol Rrjphrty tj gh kjcvhyhi.

    (g)

    @ofr Rore Phmfklhs. Tftmjut fc ocy woy lfaftfcd tmh `jrhdjfcd, tmh thra @ofrRore Phmfklhs ahocs oll j` tmh trukes, kors, korts, troflhrs oci jtmhr vhmfklhs ushi gy tmh Kfty fctmh jphrotfjc j` @ofr Rore oci fihctf`fhi jc Hxmfgft 7.2;(g).

    (k) Rhrafts. Ymh Kfty wfll hcihovjr tj trocs`hr tj tmh @juciotfjc ocy phrafts,lfkhcshs, rhdfstrotfjcs, oci khrtf`fkotfjcs chkhssory, opprjprfoth, jr kjcvhcfhct tj @ofr RoreAocodhahct (tmh Rhrafts), os aoy gh trocs`hrrhi. Ocy kjst rhlothi tj sofi trocs`hrs smoll ghoc Jphrotfcd Hxphcsh tj gh gjrch gy tmh @juciotfjc.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    9/73

    AOCODHAHCY ODWHHAHCY Rodh 9

    (i) Gjjes oci Whkjris. Ymh Kfty smoll prjvfih tmh @juciotfjc wftm kjpfhs j`rhquhsthi gjjes oci rhkjris opplfkoglh tj tmh Kftys jphrotfjc j` @ofr Rore tj tmh hxthct cjtkjc`fihctfol jr jtmhrwfsh prjmfgfthi `rja ghfcd ifskljshi, os ihthrafchi gy tmh Kfty fc fts sjlhifskrhtfjc. Ocy kjst rhlothi tj sofi trocs`hrs smoll gh oc Jphrotfcd Hxphcsh tj gh gjrch gy tmh@juciotfjc.

    (h)

    Ruglfk Ort Tjre. Yftlh tj tmh puglfk ort wjre os lfsthi fc Hxmfgft 7.2;(h) (tmhRuglfk Ort Tjre) smoll cjt gh trocs`hrrhi tj tmh @juciotfjc oci smoll rhaofc tmh prjphrty j`tmh Kfty. Cjtwftmstocifcd tmh `jrhdjfcd, tmh @juciotfjc mos tmh rfdmt tj oii ort wjre tmot upjcfcstollotfjc smoll gh vhsthi fc tftlh tj tmh Kfty. Tftmjut lfaftfcd tmh jglfdotfjcs sht `jrtm fc tmfsOdrhhahct, oci sugnhkt tj tmh @juciotfjcs rhkhfpt j` tmh `ull Aocodhahct @hh pursuoct tjOrtfklh FFF, tmh @juciotfjc smoll gh rhspjcsfglh `jr oll aofcthcockh oci upehhp (fckluifcd gut cjtlfafthi tj rhajvol) j` tmh Ruglfk Ort Tjre ot tmh ifrhktfjc j` tmh Ifrhktjr j` tmh Kftys Rore ociWhkrhotfjc Ihportahct jr mfs jr mhr ihsfdchh (tmh Ifrhktjr tjdhtmhr wftm mfs jr mhr ihsfdchh, tmhIfrhktjr). Ymh Kfty okecjwlhidhs tmot tmh @juciotfjc fs cjt jglfdothi tj rhstjrh tmh RuglfkOrt Tjre, hxkhpt fcsj`or os tmh @juciotfjc rhkhfvhs `ucifcd tmot fs sphkf`fkolly ihsfdcothi `jrsukm purpjsh `rja tmh Kfty. Ocy rhstjrotfjc jr aofcthcockh j` tmh Ruglfk Ort Tjre smoll ghsugnhkt tj rhvfhw gy tmh Ruglfk Ort Rrjdroa Aocodhr fc tmh Kftys J``fkh j` Kulturol O``ofrs ocitmh opprjvol j` tmh Ifrhktjr.

    (`) Mfstjrfk @urcfsmfcds. Yftlh tj tmh mfstjrfk `urcfsmfcds os lfsthi fc Hxmfgft 7.2;(`)smoll cjt gh trocs`hrrhi tj tmh @juciotfjc oci smoll rhaofc tmh prjphrty j` tmh Kfty. Ymh@juciotfjc aoy ush tmh mfstjrfk `urcfsmfcds `jr fts jphrotfjcs tmrjudmjut tmh Yhra j` tmfsOdrhhahct oci smoll aofctofc tmha tj prhshrvh tmhfr mfstjrfk voluh. Ymh @juciotfjcokecjwlhidhs tmot tmh mfstjrfk `urcfsmfcds smoll cjt gh rhajvhi `rja tmhfr ljkotfjc os j` tmhKjaahckhahct Ioth.

    (d) [ugstftutfjc oci Whplokhahct. F` ocy @ofr Rore Rhrsjcol Rrjphrty fs cjt jwchi

    gy tmh Kfty (`jr hxoaplh, fthas jc ljoc tj jr lhoshi gy tmh Kfty) jr fs sugnhkt tj `fcockfcd jrjtmhr kjctroktuol rhstrfktfjcs tmot wjuli prjmfgft jr lfaft fts trocs`hrogflfty, tmot `okt smoll ghcjthi jc tmh @ofr Rore Rhrsjcol Rrjphrty fcvhctjry jc Hxmfgft 7.2;(o). Yj tmh hxthct ocy sukm@ofr Rore Rhrsjcol Rrjphrty fs hsshctfol tj tmh jphrotfjc j` @ofr Rore gut cjt rhoifly ovofloglh tjgh trocs`hrrhi tj tmh @juciotfjc gy tmh Kfty, tmh portfhs wfll hcihovjr tj oiirhss soah tmrjudm oaosthr hqufpahct lhosh gy tmh Kfty tj tmh @juciotfjc jr sjah sfaflor orrocdhahct tj ghihthrafchi.

    [hktfjc 7.29 @ofr Rore Fcthllhktuol Rrjphrty.

    (o) Iurfcd tmh Yhra, tmh Kfty wfll lfkhcsh tj tmh @juciotfjc tmh hxklusfvh, rjyolty-

    `rhh rfdmt tj ush tmh troihaore @OFW ROWE5 oll ijaofc coahs rhdfsthrhi gy tmh Kfty fckjcchktfjc wftm @ofr Rore5 ocy jtmhr troih coahs, troihaores, shrvfkh aores, kjpyrfdmts, ljdjs,jr sljdocs ushi fc kjcchktfjc wftm @ofr Rore5 oci jtmhr sukm rfdmts jr fcthrhsts jwchi gy tmh Kfty`jr tmh ghch`ft j` jr fc kjcchktfjc wftm @ofr Rore (oll j` tmh `jrhdjfcd, tmh @ofr RoreFcthllhktuol Rrjphrty) `jr tmh sjlh purpjsh j` phr`jrafcd tmfs Odrhhahct.

    (g) Ymh @juciotfjc smoll movh tmh lfafthi rfdmt tj droct suglfkhcshs fc tmh @ofr RoreFcthllhktuol Rrjphrty tj ocy tmfri-porty vhcijr, supplfhr, thcoct, oivhrtfshr, jr jphrotjr `jr tmh

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    10/73

    AOCODHAHCY ODWHHAHCY Rodh 8

    sjlh purpjsh j` oci jcly `jr sj ljcd os aoy gh chkhssory `jr sukm tmfri porty tj ossfst tmh@juciotfjc fc `ully phr`jrafcd tmfs Odrhhahct. Gy woy j` hxoaplh oci cjt lfaftotfjc, tmh@juciotfjc aoy droct o suglfkhcsh tj o dropmfk ihsfdc `fra tj ush tmh @ofr Rore FcthllhktuolRrjphrty `jr tmh sjlh oci hxklusfvh purpjsh j` krhotfcd sfdcodh jr oivhrtfsfcd aothrfols rhqufrhi`jr tmh @juciotfjc tj phr`jra tmfs Odrhhahct.

    (k)

    Ocy fcthllhktuol prjphrty j` ocy efci krhothi gy tmh @juciotfjc jr fts phraftthisug-lfkhcshhs `jr tmh purpjsh j` jr fc tmh kjursh j` phr`jrafcd tmfs Odrhhahct smoll gh jwchi gytmh Kfty oci smoll gh ihhahi o wjre aoih `jr mfrh ucihr tmh X.[. Kjpyrfdmt Okt5 prjvfihi,mjwhvhr, tmot tmh @juciotfjc smoll oci mhrhgy ijhs ossfdc tj tmh Kfty ocy wjre tmot koccjt ghihhahi o wjre aoih `jr mfrh oci smoll koush fts phraftthi sug-lfkhcshhs tj ossfdc tj tmh Kfty ocywjre tmot koccjt gh ihhahi o wjre aoih `jr mfrh. Ymh @juciotfjc smoll hxhkuth oci ihlfvhr ocyijkuahcts chkhssory oci/jr kjcvhcfhct tj h``hktuoth oci hvfihckh sukm ossfdcahct oci smollkoush fts phraftthi sug-lfkhcshhs tj ij tmh soah.

    (i) Ymh @juciotfjcs ush j` tmh @ofr Rore Fcthllhktuol Rrjphrtysmoll (f) gh kjcsfsthctwftm sukm dufihlfchs os tmh Kfty aoy prjvfih tj tmh @juciotfjc `rja tfah tj tfah5 (ff) kjaply

    wftm oll opplfkoglh lows, fckluifcd gut cjt lfafthi tj tmh aorefcd prjvfsfjcs j` tmh pothct,troihaore oci kjpyrfdmt lows j` tmh Xcfthi [toths5 oci (fff) gh j` o mfdm quolfty wmfkm fs ot lhosthquol tj tmh Kftys ush j` tmh @ofr Rore Fcthllhktuol Rrjphrty fc kjcchktfjc wftm kjaporoglhdjjis oci shrvfkhs os j` tmh Kjaahckhahct Ioth. Ot oll tfahs iurfcd tmh Yhra, tmh Kfty smollmovh tmh rfdmt tj fcsphkt oci opprjvh ocy oci oll ushs j` tmh @ofr Rore Fcthllhktuol Rrjphrty gytmh @juciotfjc jr fts phrafssfglh sug-lfkhcshhs iurfcd cjraol gusfchss mjurs oci, f` tmh Kfty`fcis tmot tmh quolfty j` tmh @juciotfjcs ush j` tmh @ofr Rore Fcthllhktuol Rrjphrty `olls ghljwsukm stociori j` quolfty, tmh @juciotfjc smoll ush fts ghst h``jrts tj rhstjrh sukm quolfty.

    (h) F` oci tj tmh hxthct tmot tmh @juciotfjc ihhas ft chkhssory jr kjcvhcfhct tj ushocy jtmhr fcthllhktuol prjphrty jwchi gy tmh Kfty cjt lfkhcshi mhrhucihr, tmh portfhs wfll wjre

    tjdhtmhr fc djji `oftm tj odrhh upjc opprjprfoth thras `jr o cjc-hxklusfvh, rjyolty-`rhh lfkhcsh tjolljw tmh @juciotfjc tj ush sukm fcthllhktuol prjphrty `jr sukm purpjshs oci sukm phrfji os tmhportfhs autuolly odrhh fs chkhssory.

    (`) Cj lfkhcsh jr suglfkhcsh drocthi jr phraftthi mhrhucihr smoll krhoth ocy rfdmt,tftlh, jr fcthrhst fc jr tj tmh @ofr Rore Fcthllhktuol Rrjphrty jc tmh port j` tmh @juciotfjc jr ftsphraftthi sug-lfkhcshhs.

    (d) Hxkhpt os jtmhrwfsh prjvfihi gy tmfs Odrhhahct, tmh `jrhdjfcd lfkhcsh oci ollphraftthi suglfkhcshs orh drocthi jc oc O[ F[, TMHWH F[ gosfs, oci tmh Kfty ifsklofas ollworroctfhs fc oci tj tmh @ofr Rore Fcthllhktuol Rrjphrty tj tmh `ullhst hxthct phrafssfglh gy low.

    (m) Xpjc thrafcotfjc jr hxpfrotfjc j` tmfs Odrhhahct `jr ocy rhosjc, oll rfdmt j` tmh@juciotfjc jr fts phraftthi sug-lfkhcshhs tj ush tmh @ofr Rore Fcthllhktuol Rrjphrty smollfaahifothly thrafcoth, oci tmh @juciotfjc smoll, oci smoll koush fts phraftthi sug-lfkhcshhs tj,khosh aoefcd chw ushs j` tmh @ofr Rore Fcthllhktuol Rrjphrty oci smoll toeh sukm jtmhr sthps ostmh Kfty aoy, fc fts sjlh ifskrhtfjc, ihha opprjprfoth.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    11/73

    AOCODHAHCY ODWHHAHCY Rodh 0

    (f) Cjtwftmstocifcd ocytmfcd tj tmh kjctrory fc tmfs [hktfjc 7.29, tmh @juciotfjcsmoll, prjaptly upjc thrafcotfjc jr hxpfrotfjc j` tmfs Odrhhahct `jr ocy rhosjc, `ully oci `fcollytrocs`hr oci ossfdc tj tmh Kfty oll rfdmts fc oci tj ocy @ofr Rore Fcthllhktuol Rrjphrty jr ocy jtmhrfcthllhktuol prjphrty krhothi gy jr jc ghmol` j` tmh @juciotfjc fc kjcchktfjc wftm tmfsOdrhhahct. Gy woy j` hxoaplh oci cjt lfaftotfjc, tmh @juciotfjc smoll prjaptly trocs`hr tj tmh

    Kfty ocy ijaofc coah kjctofcfcd tmh @OFW ROWE troihaore tmot wos rhdfsthrhi gy tmh@juciotfjc prfjr tj jr iurfcd tmh Yhra.

    [hktfjc 7.28 @ofr Rore Kjctrokts.

    (o) Ossfdcahct oci Ossuaptfjc. Xpjc tmh Kjaahckhahct Ioth, tmh Kfty smolloci ijhs mhrhgy ossfdc tj tmh @juciotfjc oci tmh @juciotfjc smoll oci ijhs mhrhgy ossuah `rjatmh Kfty oll j` tmh jglfdotfjcs oci iutfhs ucihr tmh kjctrokts sht `jrtm jc Hxmfgft 7.28(o) os jwchr(fckluifcd ihportahcts j` tmh jwchr), lociljri, jr lfkhcsjr (sukm kjctrokts, fckluifcd kurrhctsmjrt-thra lhoshs, tmh @ofr Rore Kjctrokts), sugnhkt tj tmh lfaftotfjcs ihskrfghi fc tmfs[hktfjc 7.28. Kjpfhs j` oll @ofr Rore Kjctrokts smoll gh shporothly ihlfvhrhi tj tmh @juciotfjcgy tmh Ifrhktjr. Jc tmh Kjaahckhahct Ioth, oll j` tmh iutfhs oci jglfdotfjcs j` tmh Kfty ucihr

    tmh @ofr Rore Kjctrokts smoll gh ossuahi gy tmh @juciotfjc. @ofr Rore `okflfty lhoshs `jr hvhctstmot wfll toeh plokh fc tmh Kftys 72?0-72?4 `fskol yhor smoll gh ossfdchi tj tmh @juciotfjc, ocitmh @juciotfjc smoll kjaply wftm oll j` tmh thras oci kjciftfjcs j` sukm smjrt-thra lhoshs. Tftmrhsphkt tj tmfs[hktfjc 7.28(o),smjrt-thra lhosh fs ih`fchi os o lhosh thra tmot ijhs cjt hxkhhijch yhor, wftm cj jptfjc `jr ocy rhchwols. Ymh Kfty, tmrjudm fts Ifrhktjr, wfll prjvfih cjtfkh j`hokm ossfdcahct oci ossuaptfjc tj hokm porty tj tmh @ofr Rore Kjctrokts fc okkjriockh wftm tmhcjtfkh prjvfsfjc j` hokm @ofr Rore Kjctrokt. Ymh portfhs odrhh tmot tmh ossfdcahcts j` tmh @ofrRore Kjctrokts orh cjt fcthcihi tj h``hkt o solh j` tmh Kftys prjphrty fcthrhst fc @ofr Rore tj tmh@juciotfjc.

    (g) @juciotfjc @ucifcd j` Whsfihct Fcstftutfjcs. F` tmh Kfty Kjuckfl opprjprfoths

    tmh `ull Aocodhahct @hh tj tmh @juciotfjc pursuoct tj Ortfklh FFF, tmhc tmh @juciotfjc aoyolljkoth up tj Ywj Afllfjc Ijllors ($7,222,222) occuolly tj tmh fcstftutfjcs sht `jrtm jc Hxmfgft7.28(g) (sukm fcstftutfjcs, tmh Whsfihct Fcstftutfjcs), tj gh ushi `jr prjdroaafcd, utflftfhs,`okflfty aofcthcockh, oci jtmhr `okflfty suppjrt. F` tmh Whsfihct Fcstftutfjcs jgtofc `ucifcd `rjatmh @juciotfjc fc okkjriockh wftm tmfs[hktfjc 7.28(g),tmhc tmjsh Whsfihct Fcstftutfjcs aoy cjtshhe `ucifcd `rja tmh Kfty.

    (k) @juciotfjcs Jglfdotfjcs tj Whsfihct Fcstftutfjcs [ugnhkt tj Opprjprfotfjc.Cjtwftmstocifcd ocytmfcd tj tmh kjctrory fc tmfs[hktfjc 7.28,tmfs Odrhhahct, jr ocy j` tmh @ofrRore Kjctrokts, wftm rhsphkt tj ocy oci oll j` tmh Kftys jglfdotfjcs ucihr tmh @ofr Rore Kjctroktswmfkm orh aoih sugnhkt tmhrhfc tj occuol Kfty Kjuckfl opprjprfotfjc (mjwhvhr sj sht `jrtm jr

    ihskrfghi), fckluifcd gut cjt lfafthi tj tmh Kftys jglfdotfjcs tj prjvfih upehhp, aofcthcockh,rhpofr, shkurfty, stjrodh, jr jtmhr shrvfkhs tj sukm Whsfihct Fcstftutfjcs, tmh @juciotfjc wfllossuah tmh Kftys jglfdotfjcs wftm rhsphkt tmhrhtj jcly tj tmh hxthct tmot tmh @juciotfjc rhkhfvhs`ucifcd `rja tmh Kfty hxprhssly oci sphkf`fkolly ihsfdcothi `jr sukm portfkulor jglfdotfjc.

    (i) Fcsurockh Jglfdotfjcs. Cjtwftmstocifcd ocytmfcd tj tmh kjctrory fc tmfs[hktfjc7.28,tmfs Odrhhahct, jr ocy j` tmh @ofr Rore Kjctrokts, tmh @juciotfjc wfll jcly gh rhqufrhi tjjgtofc fcsurockh os sphkf`fkolly sht `jrtm fc [hktfjc 8.2;. @jr tmh ovjfiockh j` ijugt, tmh

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    12/73

    AOCODHAHCY ODWHHAHCY Rodh 4

    @juciotfjc wfll jcly ossuah tmh Kftys jglfdotfjcs ucihr ocy j` tmh @ofr Rore Kjctrokts wftmrhsphkt tj fcsurockh fcsj`or os sukm jglfdotfjcs orh fc okkjriockh wftm[hktfjc 8.2;.

    (h) Otmlhtfk Hvhcts. Rrjvfihi tmh Kfty opprjprfoths tmh `ull Aocodhahct @hh tj tmh@juciotfjc pursuoct tj Ortfklh FFF, tmh @juciotfjc smoll ossuah tmh Kftys poyahct jglfdotfjcsucihr tmjsh @ofr Rore Kjctrokts wmfkm orh rhlothi tj otmlhtfk hvhcts toefcd plokh ot tmh KjttjcGjwl ot @ofr Rore.

    (`) Kmflirhcs Oquorfua. Ymh Kftys jglfdotfjcs wftm rhsphkt tj tmh KmflirhcsOquorfua ot @ofr Rore wfll kjctfcuh tj gh djvhrchi gy tmh Aocodhahct Odrhhahct hcthrhi fctjgy oci ghtwhhc tmh Kfty j` Iollos, Iollos ^jjljdfkol [jkfhty oci Iollos ^jj Aocodhahct, Fck.,hxhkuthi jc [hpthaghr ;2, 7226 pursuoct tj Whsjlutfjc Cj. 26-?60= (tmh ^jj Odrhhahct).@jr tmh ovjfiockh j` ijugt, cjch j` tmh Kftys jglfdotfjcs ucihr tmh ^jj Odrhhahct orh ossfdchitj tmh @juciotfjc ucihr tmfs [hktfjc.

    (d) [toth @ofr j` Yhxos Kjctrokt. Ymh kjctrokt hcthrhi fctj ghtwhhc tmh Kfty ocitmh [toth @ofr j` Yhxos, pursuoct tj Whsjlutfjc Cj. 27-7928 oci opprjvhi gy tmh Kfty Kjuckfl jc

    Oudust 7=, 7227 (tmh [toth @ofr Kjctrokt), fs cjt `rhhly ossfdcoglh gy tmh Kfty wftmjut tmhkjcshct j` tmh [toth @ofr j` Yhxos. Ottokmhi mhrhtj os Hxmfgft 7.28(d) fs tmh hxhkuthi Ossfdcahctj` tmh [toth @ofr Kjctrokt tj tmh @juciotfjc?, h``hktfvh upjc tmh Kjaahckhahct Ioth j` tmfsOdrhhahct.

    (m) Yhxos Ihportahct j` Yrocspjrtotfjc Kjctrokt `jr Rorry Ovhcuh RorefcdLjt. Ymh Aultfplh Xsh Odrhhahct hcthrhi fctj ghtwhhc tmh Kfty oci tmh Yhxos [tothIhportahct j` Mfdmwoys oci Yrocspjrtotfjc, iothi @hgruory 8, ?662, prjvfifcd `jr tmh ush j`loci jwchi gy tmh [toth j` Yhxos os o porefcd ljt jc tmh [toth Mfdmwoy ;87 rfdmt j` woyghtwhhc @frst Ovhcuh, [hkjci Ovhcuh, Osm Loch, oci Rorry Ovhcuh, fs cjt `rhhly ossfdcoglh gytmh Kfty wftmjut tmh kjcshct j` tmh Yhxos Ihportahct j` Yrocspjrtotfjc. Ottokmhi mhrhtj os

    Hxmfgft 7.28(m) fs tmh hxhkuthi Ossfdcahct j` tmh Aultfplh Xsh Odrhhahct tj tmh @juciotfjc,h``hktfvh upjc tmh Kjaahckhahct Ioth j` tmfs Odrhhahct.7 Os rhqufrhi fc tmh o`jrhahctfjchiossfdcahct, tmh @juciotfjc smoll prjaptly kjctrfguth ocy rhvhcuhs horchi tmrjudm tmh AultfplhXsh Odrhhahct oci `rja tmh porefcd ljt ihskrfghi fc tmfs[hktfjc 7.28(m) tj tmh Kftys aultf-yhor `uci, sj os tj olljw tmh [toth j` Yhxos tmh ogflfty tj ouift sukm rhvhcuhs. Ymhrho`thr, tmhKfty smoll prjaptly rhfagursh sukm rhvhcuhs tj tmh @juciotfjc jc cj lhss tmoc o quorthrly gosfs.

    [hktfjc 7.20 @ofr Rore Yhkmcjljdy.

    (o) Lhoshi Kjaputhr Hqufpahct. Ottokmhi mhrhtj oci fckjrpjrothi mhrhfc gyrh`hrhckh os Hxmfgft 7.20(o) fs oc fcvhctjry j` kjaputhr hqufpahct ljkothi ot @ofr Rore wmfkm fs

    kurrhctly lhoshi gy tmh Kfty. Ymh @juciotfjc smoll poy tj tmh Kfty tmh ajctmly rhctol rh`lhkthijc Hxmfgft 7.20(o) `jr tmh hqufpahct `jr tmh thra rh`lhkthi jr uctfl sukm horlfhr tfah os tmh@juciotfjc rhturcs sukm hqufpahct tj tmh Kfty. Ymh @juciotfjc smoll movh tmh rfdmt iurfcd tmhthra j` tmh fcifvfiuol hqufpahct lhoshs tj rhturc hqufpahct tj tmh Kfty, o`thr wmfkm tfah tmh

    ?Cjth tj Iro`t> Yj gh upiothi tj rh`lhkt tmh coah j` tmfs odrhhahct, jckh hxhkuthi.7Cjth tj Iro`t> Ymh ossfdcahct wfll oiirhss tmh @juciotfjcs jglfdotfjcs tj prjvfih shkurfty potrjl jc tmhprhafshs fcsthoi j` pjlfkh potrjl. Fc oiiftfjc, tmh portfhs smoll oiirhss tmh Kftys fcsurockh jglfdotfjcs ucihr tmhodrhhahct.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    13/73

    AOCODHAHCY ODWHHAHCY Rodh =

    ajctmly rhctol oajuct smoll gh rhiukhi okkjrifcdly. Xpjc tmh hxpfrotfjc j` tmh lhosh thra `jr oportfkulor ftha j` hqufpahct os rh`lhkthi jc Hxmfgft 7.20(o), f` tmh @juciotfjc mos cjt prhvfjuslyrhturchi sukm ftha j` hqufpahct tj tmh Kfty, tmhc jwchrsmfp j` tmh ftha j` hqufpahct wfll posstj tmh @juciotfjc.

    (g) Lhoshi Yhlhpmjch Hqufpahct. Ottokmhi mhrhtj oci fckjrpjrothi mhrhfc gyrh`hrhckh os Hxmfgft 7.20(g) fs oc fcvhctjry j` thlhpmjch hqufpahct ljkothi ot @ofr Rore wmfkm fskurrhctly lhoshi gy tmh Kfty. Ymh @juciotfjc smoll poy tj tmh Kfty tmh ajctmly rhctol rh`lhkthijc Hxmfgft 7.20(g) `jr tmh hqufpahct `jr tmh thra rh`lhkthi jr uctfl sukm horlfhr tfah os tmh@juciotfjc rhturcs sukm hqufpahct tj tmh Kfty. Ymh @juciotfjc smoll movh tmh rfdmt iurfcd tmhthra j` tmh fcifvfiuol hqufpahct lhoshs tj rhturc hqufpahct tj tmh Kfty, o`thr wmfkm tfah tmhajctmly rhctol oajuct smoll gh rhiukhi okkjrifcdly. Xpjc tmh hxpfrotfjc j` tmh lhosh thra `jr oportfkulor ftha j` hqufpahct os rh`lhkthi jc Hxmfgft 7.20(g), f` tmh @juciotfjc mos cjt prhvfjuslyrhturchi sukm ftha j` hqufpahct tj tmh Kfty, tmhc jwchrsmfp j` tmh ftha j` hqufpahct wfll posstj tmh @juciotfjc.

    (k) Jtmhr Lhoshi Yhkmcjljdy Hqufpahct. Ottokmhi mhrhtj oci fckjrpjrothi mhrhfcgy rh`hrhckh os Hxmfgft 7.20(k) fs oc fcvhctjry j` jtmhr thkmcjljdy hqufpahct ljkothi ot @ofrRore wmfkm fs kurrhctly lhoshi gy tmh Kfty. Ymh @juciotfjc smoll poy tj tmh Kfty tmh ajctmlyrhctol rh`lhkthi jc Hxmfgft 7.20(k) `jr tmh hqufpahct `jr tmh thra rh`lhkthi jr uctfl sukm horlfhrtfah os tmh @juciotfjc rhturcs sukm hqufpahct tj tmh Kfty. Ymh @juciotfjc smoll movh tmh rfdmtiurfcd tmh thra j` tmh fcifvfiuol hqufpahct lhoshs tj rhturc hqufpahct tj tmh Kfty, o`thr wmfkmtfah tmh ajctmly rhctol oajuct smoll gh rhiukhi okkjrifcdly. Xpjc tmh hxpfrotfjc j` tmh lhoshthra `jr o portfkulor ftha j` hqufpahct os rh`lhkthi jc Hxmfgft 7.20(k), f` tmh @juciotfjc mos cjtprhvfjusly rhturchi sukm ftha j` hqufpahct tj tmh Kfty, tmhc jwchrsmfp j` tmh ftha j` hqufpahctwfll poss tj tmh @juciotfjc.

    (i) Kjaplfockh Tftm Xcihrlyfcd Lhoshs. Tftm rhdori tj oll hqufpahct lhoshi gy

    tmh Kfty oci ushi gy tmh @juciotfjc pursuoct tj tmfs[hktfjc 7.20 (sukm hqufpahct, tmh LhoshiYhkmcjljdy Hqufpahct), tmh @juciotfjc smoll cjt ecjwfcdly kjaaft ocy oktfjc jr fcoktfjcwftm rhsphkt tj sukm Lhoshi Yhkmcjljdy Hqufpahct tmot wjuli vfjloth, thrafcoth, jr jtmhrwfshih`oult tmh Kftys ucihrlyfcd hqufpahct lhosh. F` tmh @juciotfjcs ush j` ocy j` tmh LhoshiYhkmcjljdy Hqufpahct wjuli kjcstftuth o ih`oult j` jr jtmhrwfsh fapofr tmh Kftys ucihrlyfcdhqufpahct lhosh jr ocy Kfty `fcockfcd (fckluifcd tox trhotahct) rhlothi tj soah, tmh @juciotfjcsmoll rhturc sukm ftha(s) j` Lhoshi Yhkmcjljdy Hqufpahct tj tmh Kfty upjc thc (?2) ioys prfjrwrftthc cjtfkh, oci sukm Lhoshi Yhkmcjljdy Hqufpahct wfll cjt gh sugnhkt tj tmh @juciotfjcsush pursuoct tj tmfs [hktfjc 7.20. Ymh Kfty wfll hcihovjr tj prjvfih tmh @juciotfjc wftm osaukm cjtfkh os kfrkuastockhs olljw, gut fc cj hvhct lhss tmoc tmh thc (?2) ioy afcfaua. Ymh@juciotfjc wfll fcihacf`y tmh Kfty j` oci `rja ocy ljss, kjst, jr hxphcsh ucihr jr gy rhosjc j`

    tmh lhoshs orfsfcd `rja tmh @juciotfjcs ush j` tmh Lhoshi Yhkmcjljdy Hqufpahct.

    (h) Jwchi Yhkmcjljdy Hqufpahct. Ottokmhi mhrhtj oci fckjrpjrothi mhrhfc gyrh`hrhckh os sht `jrtm fc Hxmfgft 7.20(i) fs oc fcvhctjry j` jtmhr thkmcjljdy hqufpahct, h.d.,RKs, shrvhrs, prfcthrs, skocchrs, kjpfhrs, thlhpmjch oci `ox hqufpahct, ljkothi ot @ofr Rorewmfkm fs kurrhctly jwchi gy tmh Kfty (tmh Jwchi Yhkmcjljdy Hqufpahct). Jc tmhKjaahckhahct Ioth, tmh Jwchi Yhkmcjljdy Hqufpahct smoll gh kjcvhyhi gy tmh Kfty tj tmh@juciotfjc.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    14/73

    AOCODHAHCY ODWHHAHCY Rodh 6

    (`) Kfty Yhkmcjljdy [hrvfkhs. Ottokmhi mhrhtj oci fckjrpjrothi mhrhfc gy rh`hrhckhos Hxmfgft 7.20(h) fs o skmhiulh j` `hhs `jr thkmcjljdy jr kjaaucfkotfjc shrvfkhs tj gh prjvfihigy tmh Kfty tj tmh @juciotfjc (sukm shrvfkhs, tmh Kfty Yhkmcjljdy [hrvfkhs), `jr wmfkm tmh@juciotfjc smoll poy tmh Kfty jc o ajctm-tj-ajctm gosfs sj ljcd os tmh @juciotfjc, fc fts sjlhifskrhtfjc, hlhkts tj utflfzh sukm shrvfkhs. Tftm tmh hxkhptfjc j` roifj shrvfkhs, tmh Kfty smoll gh

    jglfdothi tj prjvfih tmh Kfty Yhkmcjljdy [hrvfkhs `jr cj ajrh tmoc cfch (6) ajctms o`thr tmhKjaahckhahct Ioth.

    (d) [j`tworh. Ymh Kfty smoll trocs`hr tj tmh @juciotfjc tmjsh sj`tworh lfkhcshs tmotorh rhoifly trocs`hroglh wftmjut kjst tj tmh Kfty, oci tmh trocs`hr j` wmfkm wjuli cjt jtmhrwfshchdotfvhly fapokt tmh Kftys jphrotfjcs oci ush. Ymh @juciotfjc smoll gh rhspjcsfglh `jr chwvhrsfjcs suppjrt oci upioths j` ocy sj`tworh rhqufrhi `jr @ofr Rore Aocodhahct.

    (m) Woifj @rhquhckfhs oci [ysthas. Ymrjudmjut tmh Yhra, tmh Kfty smoll ehhp fch``hkt tmjsh khrtofc roifj `rhquhckfhs oci systhas ushi ot @ofr Rore os j` tmh KjaahckhahctIoth oci smoll aoeh sukm roifj `rhquhckfhs oci systhas ovofloglh tj tmh @juciotfjc fckjcchktfjc wftm tmh jphrotfjc j` @ofr Rore tj tmh soah hxthct os hxfsthi os j` tmh H``hktfvh Ioth.

    Ymh @juciotfjc smoll poy tmh Kfty `jr sofi roifj `rhquhckfhs oci systhas os sht `jrtm fc Hxmfgft7.20(d), ottokmhi mhrhtj oci fckjrpjrothi mhrhfc gy rh`hrhckh. [mjuli hftmhr porty wfsm tjifskjctfcuh tmh @juciotfjcs ush j` sukm roifj `rhquhckfhs oci systhas, tmh porty hlhktfcd tjifskjctfcuh sukm shrvfkh smoll prjvfih tmh jtmhr porty wftm cfchty (62) ioys prfjr wrftthc cjtfkh,o`thr wmfkm sukm shrvfkh wfll gh ifskjctfcuhi. Ymh @juciotfjc aoy rhturc oll jr o pjrtfjc j` tmhsysthas oci hqufpahct rh`lhkthi jc Hxmfgft 7.20(d) tj tmh Kfty `rja tfah tj tfah wftm o rhlothihquftoglh `hh rhiuktfjc.

    (f) Chw Hqufpahct oci [hrvfkhs5 Yrocsftfjc Kjsts5 Hlhktrjcfk Whkjris. Ymh@juciotfjc smoll ghor tmh kjst j` ocy chw hqufpahct, systhas, lfkhcshs, jr FY shrvfkhs tj ghokqufrhi, fcstollhi, jr faplhahcthi o thr tmh Kjaahckhahct Ioth. Ymh portfhs smoll ghor tmh

    kjst j` tmhfr rhsphktfvh thkmcfkol suppjrt tj h``hkt tmh trocs`hr j` @ofr Rore Aocodhahct jc tmhKjaahckhahct Ioth. Oll hlhktrjcfk ijkuahcts oci ioto flhs sphkf`fk tj @ofr Rore, hxklusfvh j`phrsjcchl rhkjris j` kurrhct oci post Kfty phrsjcchl oci ocy fc`jraotfjc ihhahi gy tmh Kfty tjgh kjc`fihctfol jr prfvflhdhi, fckluifcd h-aofls, wfll gh trocs`hrrhi tj tmh @juciotfjcs chwsysthas os sjjc os proktfkoglh, wftm kjpfhs rhtofchi gy tmh Kfty os ft ihhas opprjprfoth.

    [hktfjc 7.24 Whvhrsfjc jr Jtmhr Kjcvhyockh Xpjc Hxpfrotfjc jr Yhrafcotfjc.H``hktfvh upjc oci sfaultochjusly wftm tmh hxpfrotfjc jr thrafcotfjc j` tmfs Odrhhahct, oll j`tmh @juciotfjcs rfdmt, tftlh, oci fcthrhst fc oci tj @ofr Rore Rhrsjcol Rrjphrty (f` ocy rhaofcfcd)wfll outjaotfkolly rhvhrt tj tmh Kfty jr wfll gh kjcvhyhi gy tmh @juciotfjc os jtmhrwfsh ifrhkthigy tmh Kfty, pursuoct tj[hktfjc ?;.26(o).

    [hktfjc 7.2= Ifsklofahr j` Torroctfhs5 O[ F[ Kjciftfjc. Ymh Kfty mos cjt aoih,ijhs cjt aoeh, oci mhrhgy sphkf`fkolly ifsklofas ocy rhprhshctotfjcs, worroctfhs, prjafshs,kjvhcocts, odrhhahcts, jr duorocthhs j` ocy efci jr kmorokthr wmotsjhvhr, wmhtmhr hxprhss jrfaplfhi, jrol jr wrftthc, post, prhshct, jr `uturh, j`, os tj, kjckhrcfcd, jr wftm rhsphkt tj (f) tmhcoturh, quolfty jr kjciftfjc j` @ofr Rore oci tmh @ofr Rore Rhrsjcol Rrjphrty5 (ff) tmh suftogflfty j`@ofr Rore oci tmh @ofr Rore Rhrsjcol Rrjphrty `jr ocy oci oll oktfvftfhs oci ushs wmfkm tmh@juciotfjc aoy kjciukt5 (fff) tmh kjaplfockh j` jr gy @ofr Rore oci tmh @ofr Rore Rhrsjcol

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    15/73

    AOCODHAHCY ODWHHAHCY Rodh ?2

    Rrjphrty jr j` jphrotfjcs fcvjlvfcd @ofr Rore oci tmh @ofr Rore Rhrsjcol Rrjphrty wftm ocyOpplfkoglh Lows5 (fv) tmh mogftogflfty, ahrkmoctogflfty, jr `ftchss `jr o portfkulor purpjsh j` @ofrRore oci tmh @ofr Rore Rhrsjcol Rrjphrty5 (v) tmh okkuroky jr kjaplhthchss j` ocy aothrfolsprjvfihi tj tmh @juciotfjc ucihr tmh prjvfsfjcs j` tmfs Odrhhahct jr jtmhrwfsh5 jr (vf) ocyjtmhr aotthr wftm rhsphkt tj @ofr Rore oci tmh @ofr Rore Rhrsjcol Rrjphrty. Ymh @juciotfjc

    okecjwlhidhs oci kjcshcts tj sukm ifsklofahr j` worroctfhs gy tmh Kfty, oci tmh @juciotfjcokkhpts @ofr Rore Aocodhahct oci tmh @ofr Rore Rhrsjcol Rrjphrty O[ F[, TMHWH F[, TFYMOLL @OXLY[, goshi sjlhly jc fts jwc fcsphktfjc tmhrhj`. Cjtwftmstocifcd tmh `jrhdjfcd, tmhportfhs okecjwlhidh tmh Kopftol Chhis Fcvhctjry `jr @ofr Rore os sht `jrtm fc Hxmfgft ;.29.@urtmhr, ocy trocs`hrs gy tmh Kfty tj tmh @juciotfjc prjvfihi fc tmfs Odrhhahct oci tmh rfdmt tj@ofr Rore Aocodhahct drocthi gy tmfs Odrhhahct fs hxprhssly drocthi sugnhkt tj oll aotthrs j`rhkjri fc tmh Iollos Kjucty, Yhxos J``fkfol Whol Rrjphrty Whkjris oci opplfkoglh zjcfcd.

    [hktfjc 7.26 Opplfkoglh Lows oci Djvhrcahctol Outmjrfty. @jr purpjshs j` tmfs[hktfjc 7.26 oci tmrjudmjut tmfs Odrhhahct, Opplfkoglh Lows ahocs (f) ocy low, lhdfslotfjc,stotuth, okt, rulh, kmorthr, kjih, jrifcockh, ihkrhh, trhoty, rhdulotfjc, jrihr, nuidahct, mjlifcd j`o nuifkfol jr oiafcfstrotfvh trfgucol, jr jtmhr sfaflor lhdol rhqufrhahct, jr (ff) ocy lhdolly gfcifcdoccjuckhahct, ifrhktfvh jr puglfsmhi proktfkh jr fcthrprhtotfjc tmhrhj`, hcokthi, fssuhi jrprjauldothi gy ocy Djvhrcahctol Outmjrfty. Djvhrcahctol Outmjrfty ahocs tmh `hihroldjvhrcahct j` tmh Xcfthi [toths, jr ocy stoth, kjucty, aucfkfpol jr ljkol djvhrcahct (fckluifcdtmh Kfty j` Iollos) jr rhdulotjry ihportahct, gjiy, pjlftfkol sugifvfsfjc, kjaafssfjc, odhcky,fcstruahctolfty, afcfstry, kjurt, nuifkfol jr oiafcfstrotfvh gjiy, toxfcd outmjrfty, jr jtmhroutmjrfty (h.d., tmh Iollos Lociaore Kjaafssfjc) tmhrhj` movfcd nurfsifktfjc jvhr ocy j` tmhportfhs, @ofr Rore, @ofr Rore Aocodhahct, jr tmfs Odrhhahct, wmhtmhr oktfcd ucihr oktuol jrossuahi outmjrfty.

    OWYFKLH FFFAOCODHAHCY @HH OCI JYMHW @F[KOL AOYYHW[.

    [hktfjc ;.2? Aocodhahct @hh.

    (o) Oajuct. Os kjaphcsotfjc `jr @ofr Rore Aocodhahct gy tmh @juciotfjc, tmhKfty smoll poy tj tmh @juciotfjc oc occuol aocodhahct `hh (tmh Aocodhahct @hh). @jr tmhKftys `fskol yhor ghdfccfcd jc Jktjghr ?, 72?0, tmh Aocodhahct @hh wfll gh Ywhlvh Afllfjc[hvhc Mucirhi @f`ty Ymjusoci Ijllors ($?7,482,222), Jch Afllfjc Ijllors ($?,222,222) j`wmfkm wfll gh tmh Yrocsftfjc @ucis poyoglh tj tmh @juciotfjc prfjr tj tmh Kjaahckhahct Iothpursuoct tj [hktfjc ;.2;. @jr tmh Kftys fskol yhor ghdfccfcd jc Jktjghr ?, 72?4, tmhAocodhahct @hh wfll gh Cfchthhc Afllfjc Ijllors ($?6,222,222). @jr tmh Kftys `fskol yhorghdfccfcd jc Jktjghr ?, 72?=, tmh Aocodhahct @hh wfll gh Ywhcty-Jch Afllfjc Ijllors

    ($7?,222,222). @jr tmh Kftys `fskol yhor ghdfccfcd jc Jktjghr ?, 72?6, tmh Aocodhahct @hhwfll gh Ywhcty-Ymrhh Afllfjc Ijllors ($7;,222,222). @jr tmh Kftys `fskol yhor ghdfccfcd jcJktjghr ?, 7272 oci kjctfcufcd tmrjudm tmh hci j` tmh Yhra (fckluifcd ocy Whchwol Yhra), tmhAocodhahct @hh wfll gh ihthrafchi pursuoct tj[hktfjc ;.27.

    (g) Royahct. @jr tmh Kftys `fskol yhor ghdfccfcd jc Jktjghr ?, 72?0, tmh hctfrhAocodhahct @hh smoll gh iuh oci poyoglh tj tmh @juciotfjc fc jch luap sua jc Nocuory ?,72?4, hxkhpt `jr tmh Yrocsftfjc @ucis, os prjvfihi fc[hktfjc ;.2;. Fc oll sugshquhct Kfty `fskol

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    16/73

    AOCODHAHCY ODWHHAHCY Rodh ??

    yhors, tmh Aocodhahct @hh smoll gh iuh fc hquol quorthrly fcstollahcts fc oivockh cj lothr tmocJktjghr ?, Nocuory ?, Oprfl ?, oci Nuly ? j` hokm yhor. Ymh Aocodhahct @hh smoll gh prjrothijc o iofly gosfs `jr ocy portfol yhor rhsultfcd `rja tmh thrafcotfjc j` tmfs Odrhhahct. Ymh Kftywfll gh hctftlhi tj o krhift odofcst quorthrly fcstollahcts fc oc oajuct hquol tj tmh oddrhdoth j`ocy oajucts jwhi gy tmh @juciotfjc tj tmh Kfty pursuoct tj tmfs Odrhhahct wftm rhsphkt tj tmh

    prhkhifcd quorthrly phrfji(s) jr pjrtfjcs tmhrhj`.

    [hktfjc ;.27 Fcihx Oinusthr. Ghdfccfcd wftm tmh Kftys `fskol yhor ghdfccfcd jcJktjghr ?, 7272, tmh Aocodhahct @hh wfll gh oinusthi hokm yhor gy tmh Fcihx Oinusthr.Fcihx ahocs tmh Kjcsuahr Rrfkh Fcihx Oll Xrgoc Kjcsuahrs puglfsmhi gy tmh Gurhou j`Logjr [totfstfks `jr tmh Iollos-@jrt Tjrtm, Yhxos rhdfjc. F` tmh Gurhou j` Logjr [totfstfksifskjctfcuhs puglfkotfjc j` tmh Fcihx, tmh Kfty oci tmh @juciotfjc smoll oijpt o sugstftuth fcihxjr prjkhiurh goshi jc ioto puglfsmhi gy tmh X.[. Ihportahct j` Logjr jr gy o puglfk jr prfvothucfvhrsfty wmfkm fs fcthcihi tj rh`lhkt ocy kmocdhs fc kjcsuahr prfkhs. F` tmh Fcihx puglfsmhi`jr [hpthaghr j` tmh faahifothly prhkhifcd kolhcior yhor(tmh Kjaporfsjc Ajctm) if``hrs`rja tmh Fcihx puglfsmhi fc [hpthaghr j` tmh faahifothly prhkhifcd `fskol yhor (tmh GoshAjctm), tmhc tmh Aocodhahct @hh `jr tmh chw `fskol yhor smoll gh fckrhoshi jr ihkrhoshi, osopplfkoglh, gy tmh phrkhctodh kmocdh fc tmh Fcihx `rja tmh Kjaporfsjc Ajctm tj tmh GoshAjctm (sukm phrkhctodh kmocdh, tmh Fcihx Oinusthr). @jr purpjshs j` fllustrotfjc, `jr tmh Kfty`fskol yhor ghdfccfcd jc Jktjghr ?, 7272, tmh Fcihx `jr [hpthaghr 72?6 (tmh Kjaporfsjc Ajctm)wfll gh kjaporhi tj tmh Fcihx `jr [hpthaghr 7272 (tmh Gosh Ajctm). Ymh Aocodhahct @hh wfllgh kolkulothi gy aultfplyfcd tmh Aocodhahct @hh `jr tmh Kfty `fskol yhor ghdfccfcd jc Jktjghr?, 72?6 ($7; afllfjc) tfahs jch plus tmh phrkhctodh kmocdh fc tmh Fcihx ghtwhhc [hpthaghr72?6 oci [hpthaghr 7272.

    [hktfjc ;.2; Yrocsftfjc @ucis. Cj lothr tmoc `jurthhc (?9) ioys o`thr tmh H``hktfvhIoth, tmh Kfty smoll poy tj tmh @juciotfjc Jch Afllfjc Ijllors ($?,222,222), tj gh ushi gy tmh@juciotfjc `jr sukm rhosjcoglh purpjshs tj `okflftoth oc jrihrly trocsftfjc j` @ofr Rore

    Aocodhahct (sukm `ucis, tmh Yrocsftfjc @ucis). Ymh @juciotfjc aoy ush tmh Yrocsftfjc@ucis `jr jphrotfjcs jr `jr kopftol hxphcifturhs fc fts rhosjcoglh ifskrhtfjc.

    [hktfjc ;.29 Gjci @ucis. Ymh Kfty fcthcis tj shhe vjthr kjcsfihrotfjc tj outmjrfzhgjci `ucis (tmh Gjci @ucis) `jr khrtofc kopftol hxphcifturhs (fckluifcd aonjr aofcthcockhoci faprjvhahcts) ot @ofr Rore (tmh @ofr Rore Kopftol Gjci Hxphcifturhs) fc tmh chxt twj(7) upkjafcd gjci prjdroas. Khrtofc pjrtfjcs j` sukm Gjci @ucis smoll jcly gh ifsgurshi gytmh Kfty upjc tmh @juciotfjc sukkhss`ully jgtofcfcd aotkmfcd `ucis `rja Cjc-Kfty [jurkhs, ossht `jrtm fc tmh toglh, ghljw. Cjc-Kfty [jurkhs ahocs `ucifcd jgtofchi `rja prfvoth`juciotfjcs5 `jr-prj`ft kjrpjrotfjcs5 cjcprj`ft kjrpjrotfjcs5 `hihrol, stoth, jr ljkol (cjc-Kfty)djvhrcahctol hctftfhs5 jr ocy jtmhr sjurkh j` `ucifcd jtmhr tmoc tmh Kfty. @jr purpjshs j`

    klorfty, Cjc-Kfty [jurkhs fckluihs `ucis jgtofchi gy tmh @juciotfjc `jr coafcd oci spjcsjrsmfppurpjshs pursuoct tj [hktfjc 9.?4, os whll os ijcotfjcs fc efci. Ijcotfjcs fc efci smoll ghahosurhi goshi jc tmh `ofr aoreht voluh j` sukm ijcotfjcs, os ihthrafchi gy tmh @juciotfjc fcdjji `oftm jr, f` sj hlhkthi gy tmh Ifrhktjr, os ihthrafchi gy oc opprofshr shlhkthi pursuoct tj[hktfjc ;.28.

    Fc tmh `frst gjci prjdroa, thctotfvhly skmhiulhi `jr o 72?4 hlhktfjc, tmh Kfty fcthcis tjshhe o tjtol j` [hvhcty-@fvh Afllfjc Ijllors ($48,222,222) fc Gjci @ucis tj gh olljkothi `jr

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    17/73

    AOCODHAHCY ODWHHAHCY Rodh ?7

    @ofr Rore Kopftol Gjci Hxphcifturhs. [ukm Gjci @ucis `rja tmh `frst gjci prjdroa smoll ghifsgurshi os `jlljws>

    @FW[Y GJCI RWJDWOA Yhctotfvhly plocchi `jr o Aoy72?4 Hlhktfjc

    Kfty j` IollosGjci Rrjdroa

    ($222s)

    WhqufrhiAotkm @rja

    Cjc-Kfty[jurkhs($222s)

    Yjtol @ucis($222s)

    ?st [olh? 78,222 2 78,2227ci [olh7 78,222 78,222 82,222;ri [olh; 78,222 78,222 82,222YJYOL KORFYOLH]RHCIFYXWH @XCIFCD

    $48,222 $82,222 $?78,222

    @jjtcjth #? - YmhKfty poys `jr Rrfjrfty #? prjnhkts fcifkothi fc Kopftol Chhis Fcvhctjry `jr@ofr Rore

    @jjtcjth #7 - Ymh Kfty poys `jr Rrfjrfty #? oci Rrfjrfty #7 prjnhkts5 tmh @juciotfjc poys `jrRrfjrfty #; oci/jr Rrfjrfty #9 prjnhkts@jjtcjth #; - Ymh Kfty poys `jr Rrfjrfty #7 prjnhkts5 tmh @juciotfjc poys `jr Rrfjrfty #;

    oci/jr Rrfjrfty #9 prjnhkts

    Wh`hrhckh fs aoih fc tmh toglhs ogjvh oci ghljw tj tmot khrtofc Kopftol Chhis Fcvhctjry`jr @ofr Rore, ottokmhi mhrhtj os Hxmfgft ;.29oci fckjrpjrothi mhrhfc gy rh`hrhckh.

    Fc tmh shkjci gjci prjdroa, thctotfvhly skmhiulhi `jr o 7272 tj 7277 hlhktfjc, tmh Kftyfcthcis tj shhe o tjtol j` `f`ty afllfjc ijllors ($82,222,222) fc Gjci @ucis `jr @ofr Rore KopftolGjci Hxphcifturhs. [ukm Gjci @ucis `rja tmh shkjci gjci prjdroa smoll gh ifsgurshi os`jlljws>

    [HKJCI GJCI RWJDWOA - Yhctotfvhly plocchi `jr o 7272 tj 7277Hlhktfjc

    Kfty j` IollosGjci Rrjdroa

    ($222s)

    WhqufrhiAotkm @rja

    Cjc-Kfty[jurkhs($222s)

    Yjtol @ucis($222s)

    ?st [olh9 78,222 78,222 82,222

    7ci [olh8 78,222 78,222 82,222

    YJYOL KORFYOLH]RHCIFYXWH @XCIFCD

    82,222 82,222 ?22,222

    @jjtcjth #9 - Ymh Kfty poys `jr Rrfjrfty #7 oci Rrfjrfty #; prjnhkts5 tmh @juciotfjc poys `jrRrfjrfty #9 prjnhkts

    @jjtcjth #8 - Ymh Kfty poys `jr Rrfjrfty #; prjnhkts5 tmh @juciotfjc poys `jr Rrfjrfty #9prjnhkts

    F` tmh Gjci @ucis ihskrfghi fc tmfs[hktfjc ;.29 orh cjt outmjrfzhi, tmh @juciotfjc ocitmh Ifrhktjr wfll wjre tjdhtmhr tj ihthrafch jtmhr sjurkhs j` kopftol tj ahht tmh kopftol chhis j`

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    18/73

    AOCODHAHCY ODWHHAHCY Rodh ?;

    @ofr Rore. Cjtmfcd fc tmh prhkhifcd shcthckh smoll lfaft tmh rfdmts j` tmh @juciotfjc jr tmh Kftyucihr[hktfjc ?;.28.

    [hktfjc ;.28 Opprofsol. F` tmh Ifrhktjr hlhkts `jr oc opprofsol j` ocy ijcotfjcs fc efcijgtofchi gy tmh @juciotfjc pursuoct tj [hktfjc ;.29, tmh Ifrhktjr oci tmh @juciotfjc smollautuolly odrhh jc o quolf`fhi opprofshr wmj wfll kjciukt tmh opprofsol. [ukm opprofshrsihthrafcotfjc rhdorifcd tmh `ofr aoreht voluh j` tmh fc-efci ijcotfjc(s) fc quhstfjc smoll ghgfcifcd jc tmh portfhs. F` tmh Ifrhktjr oci tmh @juciotfjc orh ucoglh tj autuolly odrhh jc sukmoc opprofshr, tmhc tmh Ifrhktjr oci tmh @juciotfjc smoll hokm shlhkt oc opprofshr, wmfkmopprofshrs smoll tmhc shlhkt oc fcihphcihct opprofshr wmj wfll kjciukt tmh opprofsol. [ukmfcihphcihct opprofshrs ihthrafcotfjc rhdorifcd tmh `ofr aoreht voluh j` tmh fc-efci ijcotfjc(s)smoll gh gfcifcd jc tmh portfhs. Oll kjsts ossjkfothi wftm ocy opprofsol ucihr tmfs[hktfjc ;.28,fckluifcd gut cjt lfafthi tj kjsts rhlothi tj tmh fcihphcihct opprofsol, smoll gh pofi `jr sjlhly gytmh @juciotfjc.

    [hktfjc ;.20 Cjc-Opprjprfotfjc. Ymh Kftys jglfdotfjc tj poy tmh Aocodhahct @hhtj tmh @juciotfjc smoll gh sugnhkt tj oci strfktly kjctfcdhct jc opprjprfotfjc tmhrhj` gy tmh Kfty5

    prjvfihi, mjwhvhr,tmot upjc tmh Kftys `oflurh tj opprjprfoth tmh `ull oajuct j` tmh Aocodhahct@hh fc ocy `fskol yhor, tmfs Odrhhahct aoy gh thrafcothi gy tmh Kfty tmrjudm fts Rore ociWhkrhotfjc Gjori (tmh Rore Gjori) jr tmh @juciotfjc, os sht `jrtm fc[hktfjc ?;.28.

    OWYFKLH FPAOCODHAHCY OCI JRHWOYFJC J@ @OFW ROWE.

    [hktfjc 9.2? @juciotfjc Aocodhahct oci Jphrotfjc. @rja oci o`thr tmhKjaahckhahct Ioth, tmh @juciotfjc smoll ij oll tmfcds oci toeh oll oktfjcs, ot fts kjst ocihxphcsh, chkhssory `jr @ofr Rore Aocodhahct fc okkjriockh wftm tmfs Odrhhahct. Ymh@juciotfjc smoll `ully suppjrt oci `okflftoth, gjtm `fcockfolly oci jtmhrwfsh, @ofr Rore ucihr tmfs

    Odrhhahct. Ymh @juciotfjc fs oci ot oll tfahs smoll gh oc fcihphcihct kjctroktjr rhtofchi gy tmhKfty tj prjvfih @ofr Rore Aocodhahct os mhrhfc prjvfihi. Ymh Kfty smoll cjt gh rhspjcsfglh `jrocy j` tmh kjsts j` @ofr Rore Aocodhahct. Oll sukm kjsts smoll gh tmh rhspjcsfgflfty j` tmh@juciotfjc.

    [hktfjc 9.27 @juciotfjc Djvhrcockh. Ymrjudmjut tmh Yhra, tmh @juciotfjc smoll ghdjvhrchi gy o gjori j` ifrhktjrs (tmh @juciotfjc Gjori) kjcsfstfcd j` cj `hwhr tmoc cfch (6)ahaghrs, tmh kjapjsftfjc j` wmfkm smoll gh ifvhrsh oci fcklusfvh. Ymrjudmjut tmh Yhra, cj lhsstmoc tmh drhothr j` (f) jch (?) ahaghr jr (ff) thc phrkhct (?2%) j` tmh ahaghrsmfp j` tmh@juciotfjc Gjori wfll kjcsfst j` hokm j` (O) phrsjcs rhprhshctfcd tmh mfstjrfk prhshrvotfjckjaaucfty oci (G) phrsjcs rhprhshctfcd tmh surrjucifcd @ofr Rore kjaaucfty. Ymh Ifrhktjr j`

    tmh Kftys Rore oci Whkrhotfjc Ihportahct wfll shrvh os tmh Rore oci Whkrhotfjc Ihportahctslfofsjc tj tmh @juciotfjc Gjori gut smoll cjt gh o ahaghr j` tmh @juciotfjc Gjori oci smollshrvh fc o cjc-vjtfcd kopokfty. Fc oiiftfjc tj tmh @juciotfjc Gjori, tmrjudmjut tmh Yhra, tmh@juciotfjc aoy gh oivfshi gy oc oivfsjry gjori.

    [hktfjc 9.2; Rhr`jraockh [tocioris oci Occuol Whpjrt. @ofr Rore fs o cotfjcolmfstjrfk lociaore oci tmh ljkotfjc j` vorfjus ort ihkj guflifcds, kulturol fcstftutfjcs, spjrtfcdoci phr`jraockh vhcuhs, oci hvhcts. Fc jrihr `jr tmh Rore Gjori tj `ully hvoluoth tmh

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    19/73

    AOCODHAHCY ODWHHAHCY Rodh ?9

    phr`jraockh j` tmh @juciotfjc tmrjudmjut tmfs Odrhhahct, tmh @juciotfjc smoll sugaft ophr`jraockh ploc (tmh Rloc), os ajrh `ully ihskrfghi ghljw.

    (o) Ymh Rloc wfll (f) fihctf`y tmh aorehtfcd oci jphrotfjcol phr`jraockh fcifkotjrs(mhrhfco`thr rh`hrrhi tj os phr`jraockh fcifkotjrs) oci ihvhljp ihvfkhs oci systhas tj ahosurhtmh phr`jraockh fcifkotjrs wftmfc jch mucirhi twhcty (?72) ioys j` tmh H``hktfvh Ioth5 oci (ff)prjvfih `jr tmh kjllhktfjc j` ioto tj ihvhljp ghckmaores `jr ocolyzfcd tmh @juciotfjcsphr`jraockh `rja Nocuory ?, 72?4 tj Ihkhaghr ;?, 72?4. Ymh phr`jraockh fcifkotjrs smoll ghprjvfihi tj tmh Rore Gjori jc oc occuol gosfs, kjaahckfcd fc tmh kolhcior yhor ghdfccfcd jcNocuory ?, 72?= oci kjctfcufcd tmrjudm tmh rhaofcihr j` tmh Yhra j` tmfs Odrhhahct.

    (g) Ymh phr`jraockh fcifkotjrs wfll fckluih gut cjt gh lfafthi tj (f) cuaghr j`vfsftjrs5 (ff) cuaghr j` hvhcts, tj gh ih`fchi5 (fff) cht oci drjss jphrotfcd rhvhcuhs5 (fv) oktuolkopftol hxphcifturhs5 oci (v) kjctrfgutfjcs `rja tmh Kfty oci `rja Cjc-Kfty [jurkhs. Ymh Rlocwfll olsj fckluih tmh @juciotfjcs phr`jraockh djols wftm o tfahlfch jc ahhtfcd sukm djols gysphkf`fhi ioths os odrhhi upjc gy tmh Ifrhktjr oci tmh @juciotfjc. Ymh Rloc wfll gh upiothiphrfjifkolly gy tmh @juciotfjc jr os rhquhsthi gy tmh Ifrhktjr oci wfll gh fckluihi fc fts occuol

    rhpjrt tj tmh Rore Gjori.

    (k) Ymh @juciotfjc smoll prjvfih tj tmh Rore Gjori oc occuol rhpjrt tmot smoll fckluihgut cjt gh lfafthi tj tmh Rloc oci jtmhr oktfvftfhs oci okkjaplfsmahcts tmot jkkurrhi ot @ofr Rorefc tmh prhkhifcd yhor5 fc`jraotfjc `jr `uturh faprjvhahcts jr oktfvftfhs `jr tmh upkjafcd yhor5oci ocy jtmhr fc`jraotfjc rhqufrhi tj gh prhshcthi gy tmh @juciotfjc fc fts occuol rhpjrt ucihrtmfs Odrhhahct.

    (i) F` tmh @juciotfjc `ofls tj ahht tmh phr`jraockh djols sht `jrtm fc tmh Rloc, tmhIfrhktjr aoy, o`thr toefcd oll `oktjrs fctj kjcsfihrotfjc, rhquhst tmh @juciotfjc tj hcdodh ocfcihphcihct kjcsultoct ot fts hxphcsh tj ihvhljp oci jvhrshh tmh faplhahctotfjc j` o

    rhahifotfjc ploc. Rort j` tmh rhahifotfjc ploc aoy fckluih phrfjifk upioths tj tmh Rore Gjorijc tmh prjdrhss ghfcd aoih tj ahht tmh phr`jraockh djols. Ymh portfhs okecjwlhidh oci odrhhtmot tmfs [hktfjc 9.2;(i) fs sugnhkt tj tmh Kftys poyahct tj tmh @juciotfjc j` tmh `ullAocodhahct @hh pursuoct tj Ortfklh FFF.

    [hktfjc 9.29 Okkhssfgflfty.

    (o) Rjlfkfhs oci Rrjdroas. Ymh @juciotfjc wfll aocodh oci jphroth @ofr Rore wftmo djol j` prjvfifcd grjoi, cjcifskrfafcotjry okkhss tj @ofr Rore `jr tmh Kftys rhsfihcts oci tmhdhchrol puglfk. Fc `urtmhrockh j` tmot djol, tmh @juciotfjc wfll ihvhljp oci aofctofc pjlfkfhs ociprjdroas ihsfdchi tj hcsurh grjoi okkhss tj @ofr Rore gy hkjcjafkolly ifsoivoctodhi Kfty

    rhsfihcts.

    (g) Kjctrjl. Fc tmh oiafssfjc j` vfsftjrs tj @ofr Rore, tmhrh wfll gh cj ifskrfafcotfjcgy rhosjc j` rokh, kjljr, krhhi, cotfjcol jrfdfc, dhcihr, pjlftfkol oimhrhckh, shxuol jrfhctotfjc,rhlfdfjc jr jtmhrwfsh5 prjvfihi, mjwhvhr, tmot tmfs wfll cjt prhvhct jr prjmfgft rhosjcoglh ocilow`ul rulhs oci rhdulotfjcs `jr otthciockh ot @ofr Rore. Cjtmfcd mhrhfc smoll prhvhct tmhhxklusfjc jr hnhktfjc `rja @ofr Rore j` ocy phrsjc jr drjup j` phrsjcs wmjsh kjciukt fs, jr fctmh post mos prjvhc ftshl` tj gh, j``hcsfvh, ifsruptfvh, iocdhrjus, jr jtmhrwfsh ihtrfahctol tj

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    20/73

    AOCODHAHCY ODWHHAHCY Rodh ?8

    djji jrihr oci ihkjrua, jr tj tmh phokh, so`hty, oci qufht hcnjyahct j` jtmhr phrsjcs prjphrlyotthcifcd @ofr Rore.

    [hktfjc 9.28 Rhraftthi Xsh. @ofr Rore wfll gh ushi sjlhly `jr pore purpjshs, fckluifcdos tmh ljkotfjc j` rhkrhotfjcol `okflftfhs oci oktfvftfhs, kulturol fcstftutfjcs oci prjdroas, spjrtfcdhvhcts, hcthrtofcahct, jtmhr suppjrt `okflftfhs oci oktfvftfhs, kjckhssfjcs, oci porefcd, os whll ostmh aorehtfcd, prjajtfjc oci ihvhljpahct tmhrhj`, oll fc okkjriockh wftm tmh thras ocikjciftfjcs j` tmfs Odrhhahct (tmh Rhraftthi Xsh), oci `jr cj jtmhr purpjsh wftmjut tmh prfjrwrftthc kjcshct j` tmh Kfty, oktfcd tmrjudm tmh Ifrhktjr. Tftmjut lfaftfcd tmh `jrhdjfcd, ocyhiukotfjcol ush ot @ofr Rore aust fckluih o rhkrhotfjc jr kulturol kjapjchct oci gh ovofloglh tjtmh dhchrol puglfk.

    [hktfjc 9.20 Kjctfcujus Jphrotfjcs. Ymh @juciotfjc wfll cjt ot ocy tfah iurfcd tmhYhra ogocijc @ofr Rore Aocodhahct, oci wfll fc djji `oftm, kjctfcujusly tmrjudmjut tmh Yhra,kjciukt oci suppjrt wftmfc tmh hctfrhty j` @ofr Rore tmh typh j` oktfvftfhs mhrhfc kjcthaplothi,sovh oci hxkhpt iurfcd sukm phrfjis j` tfah wmhc tmh kjcstruktfjc, rhkjcstruktfjc jr rhcjvotfjcj` ocy pjrtfjc j` @ofr Rore rhcihrs tmh soah faproktfkol, gut tmhc jcly os tj tmh fapokthi

    pjrtfjcs j` @ofr Rore.

    [hktfjc 9.24 Cjt @jr Rrj`ft. @ofr Rore wfll gh aofctofchi oci jphrothi os o puglfk`okflfty `jr tmh ghch`ft oci hcnjyahct j` tmh kftfzhcs j` Iollos oci tmh dhchrol puglfk. Ymh@juciotfjc smoll gh rhspjcsfglh `jr aofctofcfcd fts cjt-`jr-prj`ft stotus tmrjudmjut tmh Yhra j`tmfs Odrhhahct. Iurfcd tmh Yhra j` tmfs Odrhhahct, dhchrol oiafttockh tj tmh dhchrol drjucisj` @ofr Rore wfll rhaofc `rhh j` kmordh, hxkhpt os prjvfihi fc [hktfjc 4.27. Cjtmfcd fc tmfs[hktfjc 9.24 wfll prhvhct jr prjmfgft tmh fapjsftfjc j` rhosjcoglh oiafssfjc `hhs jr jtmhrkmordhs `jr sphkfol hvhcts5 tmh droctfcd j` kjckhssfjcs jr jtmhr ushs kjcsfsthct wftm tmh dhchrolpurpjshs j` tmh jphrotfjc j` @ofr Rore5 tmh droctfcd j` coafcd rfdmts jr spjcsjrsmfps pursuoct tj[hktfjc 9.?4 jr ocy jtmhr shktfjc j` tmfs Odrhhahct5 jr tmh poyahct j` kjaphcsotfjc tj

    hapljyhhs, kjcsultocts, kjctroktjrs, jr jtmhr shrvfkh prjvfihrs.

    [hktfjc 9.2= Cj Cufsockh. Oll @ofr Rore Aocodhahct wfll gh kjciukthi fc oc jrihrlyoci prjphr aocchr kjcsfihrfcd tmh coturh j` @ofr Rore jphrotfjcs. Ymh @juciotfjc wfll cjt ij jrphraft tj gh ijch ocytmfcd wmfkm aoy rhsult fc tmh krhotfjc, kjaafssfjc, jr aofcthcockh j` ocufsockh, ucsocftory kjciftfjc, wosth, jr fcnury jc @ofr Rore. Ymh @juciotfjc wfll cjt ij cjrphraft tj gh ijch ocytmfcd tmot aothrfolly oivhrshly o``hkts tmh h``hktfvhchss jr okkhssfgflfty j`tmh irofcodh systha, shwhrodh systha, jr `frh myirocts oci mjshs, f` ocy, fcstollhi jr ljkothi fcjr orjuci @ofr Rore. Ymh @juciotfjc wfll movh tmh rfdmt tj aoeh olthrotfjcs tj sukm systhas os ftihhas chkhssory jr ihsfroglh `jr @ofr Rore Aocodhahct, sj ljcd os ocy sukm olthrotfjc tj sukmsysthas wfll cjt aothrfolly oivhrshly o``hkt ocy jtmhr kjaajc ushr j` tmh lfchs jr jtmhr

    ifstrfgutfjc `okflftfhs j` sukm systhas. Ymh @juciotfjc wfll orrocdh `jr tmh kjllhktfjc j` olldorgodh, ihgrfs oci wosth aothrfol, wmhtmhr sjlfi jr lfqufi, orfsfcd jut j` @ofr Rore Aocodhahct5orrocdh `jr tmh stjrodh j` soah phcifcd ifspjsol fc kjvhrhi ahtol jr jtmhr rfdfily oci sturiflykjcstrukthi rhkhptoklhs5 oci orrocdh `jr tmh ifspjsol j` soah j`` @ofr Rore ot rhdulor fcthrvols,hxkhpt `jr shwodh oci stjra wothr rucj`` wmfkm aoy gh ifspjshi j` fc tmh Kftys shwhr systhaoci stjra-shwhr systha, rhsphktfvhly. Ymh @juciotfjc smoll cjt phraft @ofr Rore tj gh ushi fcocy aocchr tmot wjuli rhcihr tmh fcsurockh tmhrhjc vjfi jr tmh fcsurockh rfse ajrh mozorijus.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

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    AOCODHAHCY ODWHHAHCY Rodh ?0

    [hktfjc 9.26 Kjaplfockh Tftm Opplfkoglh Lows. Ymh @juciotfjc oci tmh j``fkhrs,hapljyhhs, oci odhcts ucihr fts kjctrjl smoll ogfih gy, kjc`jra tj, oci kjaply wftm ollOpplfkoglh Lows os tmhy rhloth tj @ofr Rore, tmfs Odrhhahct, oci tmh @juciotfjcs phr`jraockhmhrhucihr. Ymrjudmjut tmh Yhra, tmh @juciotfjc wfll ehhp `ully fc`jrahi kjckhrcfcd, ociprjaptly kjaply jr koush kjaplfockh wftm, oll rhqufrhi opprjvols `rja Djvhrcahctol

    Outmjrftfhs (fckluifcd tmh Iollos Lociaore Kjaafssfjc) (sukm opprjvols, DjvhrcahctolOpprjvols). Ymh @juciotfjc wfll, ot fts sjlh kjst, prjkurh oll rhqufrhi DjvhrcahctolOpprjvols5 poy ocy kmordhs, lfkhcsh `hhs, jr toxhs fckfihct tj fts oktfvftfhs ucihr tmfs Odrhhahct5oci dfvh oll cjtfkhs chkhssory oci fckfihct tj tmh low`ul oci prjphr hxhkutfjc j` fts oktfvftfhsucihr tmfs Odrhhahct.

    [hktfjc 9.?2 Hxphcshs. Ymh@juciotfjc wfllpoy oll Jphrotfcd Hxphcshs `rja fts jwcvorfjus rhvhcuh sjurkhs, fckluifcd tmh Aocodhahct @hh ucihr Ortfklh FFF, os whll os fts smorh j`tmh Kopftol Hxphcifturhs os sht `jrtm fc [hktfjc ;.29, `rja tmh Kjaahckhahct Ioth ocitmrjudmjut tmh Yhra j` tmfs Odrhhahct. Jphrotfcd Hxphcshs ahocs oll hxphcshs, kjsts ociifsgurshahcts j` hvhry efci oci coturh rhlotfcd tj jr fckurrhi jr pofi fc kjcchktfjc wftm @ofrRore Aocodhahct, ihthrafchi fc okkjriockh wftm dhchrolly okkhpthi okkjuctfcd prfckfplhs os fch``hkt `rja tfah tj tfah fc tmh Xcfthi [toths j` Oahrfko kjcsfsthctly opplfhi (DOOR),fckluifcd tmh `jlljwfcd> (f) wodhs oci solorfhs (fckluifcd oll toxhs, fcsurockh, oci ghch`ftspoyoglh gy tmh hapljyhr oci trofcfcd hxphcshs) j` oll phrsjcs ifrhktly hcdodhi gy tmh@juciotfjc `jr @ofr Rore Aocodhahct5 (ff) oll supplfhs, tjjls, hqufpahct oci aothrfols ushi fc@ofr Rore Aocodhahct5 (fff) kjst j` oll aofcthcockh oci shrvfkh odrhhahcts `jr @ofr Rore, ftsguflifcds oci faprjvhahcts, oci oll systhas oci hqufpahct tmhrhfc, fckluifcd wftmjut lfaftotfjcahkmocfkol, hlhktrfkol, pluagfcd, oci MPOK systhas oci hqufpahct5 (fv) kjst j` rhpofrs ociaofcthcockh5 (v) kjst j` oll fcsurockh, fckluifcd rhqufrhi jr phraftthi fcsurockh ucihr tmhOdrhhahct5 (vf) oll okkjuctfcd, lhdol oci jtmhr prj`hssfjcol jr kjcsultfcd shrvfkhs5 (vff) kjst j`oll aorehtfcd, oivhrtfsfcd, prjajtfjcs, oci `ucirofsfcd5 oci (vfff) oll jtmhr hxphcshs cjraollykjcsfihrhi jphrotfcd hxphcshs kjcsfsthct wftm DOOR. Kopftol Hxphcifturhs ahocs kjsts jrhxphcifturhs wmfkm orh kjcsfihrhi kopftol kjsts jr hxphcifturhs ucihr DOOR, fckluifcd kopftolhxphcifturhs `jr faprjvhahcts, olthrotfjcs, oiiftfjcs, rhplokhahcts, hqufpahct, tjjls oci jtmhrfthas movfcd o ush`ul lf`h fc hxkhss j` jch (?) yhor5 rhctols oci rhlothi hxphcshs, f` ocy, fckurrhifc lhosfcd systhas jr jtmhr hqufpahct cjraolly kjcsfihrhi tj gh j` o kopftol coturh5 skulpturhs,pofctfcds oci jtmhr ort wjre ushi tj ihkjroth tmh `okflftfhs ot @ofr Rore5 osghstjs rhajvol kjsts5oci rhcjvotfjcs jr faprjvhahcts ot @ofr Rore jtmhr tmoc rjutfch rhpofrs cjt kjcsfihrhi tj ghkopftol fthas ucihr DOOR.

    [hktfjc 9.?? Rhrsjcchl. Ymh @juciotfjc smoll hapljy, poy, suphrvfsh, oci ifskmordholl phrsjcchl tmh @juciotfjc ihthrafchs tj gh chkhssory, opprjprfoth, oci kjcvhcfhct `jr @ofrRore Aocodhahct oci fts phr`jraockh ucihr tmfs Odrhhahct. Ymh @juciotfjc wfll movh sjlh

    ifskrhtfjc oci rhspjcsfgflfty rhdorifcd fcftfol oci `uturh phrsjcchl aotthrs oci tj ihthrafch ftsphrsjcchl pjlfkfhs, prjkhiurhs, oci proktfkhs, fckluifcd kjaphcsotfjc, ghch`fts, ociphrqufsfths.Ymh Kfty smoll cjt movh ocy rhspjcsfgflfty `jr jr hxhrkfsh ocy kjctrjl jvhr tmh@juciotfjc phrsjcchl, oci fc cj hvhct smoll ocy j` sofi phrsjcchl gh ihhahi Kfty hapljyhhs.Cjtwftmstocifcd ocy j` tmh `jrhdjfcd, tmh @juciotfjc smoll aoeh oc j``hr j` hapljyahct tj ollhapljyhhs j` tmh Kfty kurrhctly goshi ot @ofr Rore, wftm sukm hapljyahct tj ghkjah h``hktfvh osj` tmh Kjaahckhahct Ioth, oci tmh @juciotfjc smoll kjaply wftm tmh cjc-ifskrfafcotfjc oci

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

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    AOCODHAHCY ODWHHAHCY Rodh ?4

    jtmhr sfaflor prjvfsfjcs j` tmfs Odrhhahct fc fts hapljyahct aotthrs oci wfll prjvfih ociaofctofc ot oll tfahs rhosjcoglh wmfstlhgljwhr prjthktfjcs `jr fts hapljyhhs.

    [hktfjc 9.?7 Droct Oiafcfstrotfjc.

    (o) Opplfkotfjc oci Aocodhahct. Ymh @juciotfjc wfll movh tmh hxklusfvh rfdmtiurfcd tmh Yhra tj opply `jr oci okkhpt, rhkhfvh, oci aocodh oll `fcockfol drocts jr jtmhrijcotfjcs `rja Cjc-Kfty [jurkhs wftm rhdori tj @ofr Rore Aocodhahct. Rrjkhhis j` oll sukmdrocts jr jtmhr ijcotfjcs wfll gh mhli fc tmh @juciotfjcs rhstrfkthi jr ucrhstrfkthi okkjuct `jrtmh ghch`ft j` @ofr Rore, os tmh kosh aoy gh, goshi jc tmh purpjsh oci rhqufrhahcts j` sukmdrocts.

    (g) Kjjphrotfjc. Xpjc tmh rhquhst j` tmh @juciotfjc, tmh Kfty smoll kjjphroth wftmtmh @juciotfjc fc kjcchktfjc wftm fts opplfkotfjc `jr ocy drocts jr jtmhr ijcotfjcs rhlothi tj @ofrRore oci @ofr Rore Aocodhahct j``hrhi gy Cjc-Kfty [jurkhs, fckluifcd shrvfcd os spjcsjr `jrtmh @juciotfjc. Cjtwftmstocifcd tmh `jrhdjfcd, tmh Kfty smoll movh cj lfogflfty `jr rhpoyahct j`ocy jr oll j` sukm drocts jr jtmhr ijcotfjcs fc tmh hvhct j` ih`oult ucihr ocy droct thras jr

    rhqufrhahcts uclhss ft hxprhssly kjcshcts tj sukm jglfdotfjc, fc fts ifskrhtfjc.

    [hktfjc 9.?; Kjctrokts Whlothi tj @ofr Rore Aocodhahct5 Dhchrol Rrjvfsfjcs.

    (o) Dhchrol Whqufrhahcts. Ymh @juciotfjc aoy phr`jra ocy jglfdotfjc jr oktfvftyrhqufrhi jr phraftthi j` ft pursuoct tj tmfs Odrhhahct tmrjudm fts jwc phrsjcchl jr gysugkjctroktfcd `jr tmh phr`jraockh tmhrhj` gy jtmhrs. F` tmh @juciotfjc sugkjctrokts `jr tmhphr`jraockh gy jtmhrs j` ocy j` tmh iutfhs sht `jrtm fc tmfs Odrhhahct, hokm sukm sugkjctrokt jrodrhhahct wfll rhqufrh ot lhost tmh soah stocioris oci prhshrvh tj tmh Kfty ot lhost tmh soahkjctrjls wftm wmfkm tmh @juciotfjc wjuli gh rhqufrhi tj jgshrvh oci kjaply. Oll sukmkjctrokts, odrhhahcts, oci ucihrtoefcds wfll gh fc tmh coah j` tmh @juciotfjc, os opplfkoglh, oci

    cjt tmh Kfty. Fc cj hvhct wfll tmh @juciotfjc hcthr fctj ocy kjctrokts, odrhhahcts, jrucihrtoefcds fc kjcchktfjc wftm @ofr Rore oci tmfs Odrhhahct, fckluifcd ocy kjckhssfjcodrhhahct jr jkkupocky odrhhahct rhlotfcd tj sukm kjckhssfjc tmot hxthcis ghyjci tmh Yhra j`tmfs Odrhhahct. Oll sukm kjctrokts, odrhhahcts, jr ucihrtoefcds wfll hxprhssly (f) gh aoihsugnhkt tj tmh thras j` tmfs Odrhhahct5 (ff) gh aoih sugnhkt tj oll Opplfkoglh Lows5 (fff) prjvfih`jr tmh outjaotfk thrafcotfjc tmhrhj` upjc tmh hxpfrotfjc jr thrafcotfjc j` tmfs Odrhhahct,uclhss tmh Kfty (tmrjudm fts Ifrhktjr oci Rore Gjori) opprjvhs tmh kjctfcuotfjc oci tmhossuaptfjc gy tmh Kfty j` sukm kjctrokt, odrhhahct jr ucihrtoefcd os j` tmh ioth j` sukmhxpfrotfjc jr thrafcotfjc j` tmfs Odrhhahct5 (fv) rhqufrh tmh kjctroktjr tj ush djji `oftm h``jrtstj kjaply wftm tmh Kftys Gusfchss Fcklusfjc oci Ihvhljpahct Rloc, os oahcihi `rja tfah tjtfah (tmh GFI Rloc)5 (v) kjctofc kjaahrkfolly rhosjcoglh fcsurockh rhqufrhahcts `jr

    kjvhrodhs oci lfafts cjt lhss tmoc tmjsh wmfkm orh kustjaorfly rhqufrhi gy tmh Kfty j` fts lfehkjctroktjrs, coafcd tmh Kfty oci fts j``fkhrs oci hapljyhhs os oiiftfjcol fcsurhis5 (vf)fcihacf`y tmh Kfty oci fts j``fkhrs oci hapljyhhs odofcst ocy kjsts jr lfogflftfhs tmhrhucihr usfcdlocduodh sugstoctfolly sfaflor tj tmh @juciotfjcs fcihacf`fkotfjcs j` tmh Kfty `juci fc tmfsOdrhhahct5 oci (vff) f` opplfkoglh, kjctofc vhcijr quolf`fkotfjc rhqufrhahcts su``fkfhctly grjoisj os cjt tj hxkluih afcjrfty vhcijrs os o kloss, oci dhchrol kjctrokt sphkf`fkotfjcs su``fkfhctlygrjoi sj os cjt tj `ovjr o sfcdlh vhcijr.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

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    AOCODHAHCY ODWHHAHCY Rodh ?=

    (g) Kfty Whvfhw. O kurrhct lfst j` oll sukm kjctrokts, odrhhahcts jr ucihrtoefcds,fckluifcd tmh portfhs tmhrhtj, tmh prfaory purpjsh tmhrhj` oci opplfkoglh kjctrokt, odrhhahct jrlfkhcsh `hhs, smoll gh aofctofchi gy tmh @juciotfjc oci, upjc tmh Kftys rhquhst, smoll ghprjvfihi tj tmh Kfty wftmjut ihloy.

    (k) Oiiftfjcol Fc`jraotfjc. Xpjc tmh Kftys rhquhst, tmh @juciotfjc smoll aoehoci prjvfih kjpfhs j` ocy kjctrokts, odrhhahcts, ucihrtoefcds, oci jtmhr fc`jraotfjc rhquhsthigy tmh Ifrhktjr. F` ocy sukm aothrfol fs loghlhi kjc`fihctfol jr troih shkrht, tmh Kfty smoll `jlljwtmh opplfkoglh stoth low prjvfsfjc (tmh Yhxos Ruglfk Fc`jraotfjc Okt) wftm rhsphkt tj ocy jphcrhkjris rhquhst. Yrocsporhcky j` @ofr Rore jphrotfjcs ghfcd o prfah jgnhktfvh j` tmfsOdrhhahct, tmh @juciotfjc wfll hcihovjr oci ush rhosjcoglh h``jrts tj afcfafzh tmh fcstockhs j`kjc`fihctfol odrhhahcts.

    (i) Kjaahrkfolly Whosjcoglh. Oll sukm kjctrokts, odrhhahcts, oci ucihrtoefcds oswhll os sto`` solorfhs, kjaphcsotfjc, phrqufsfths, oci ghch`fts smoll gh kjaahrkfolly rhosjcoglh.

    [hktfjc 9.?9 Lhoshs jr Lfkhcshs. Iurfcd tmh Yhra j` tmfs Odrhhahct, tmh @juciotfjc

    smoll movh tmh hxklusfvh rfdmt tj lhosh jr lfkhcsh @ofr Rore `okflftfhs `jr ocy Rhrafssfglh Xsh. Ollsukm odrhhahcts hcthrhi fctj gy tmh @juciotfjc aust kjaply wftm oll Opplfkoglh Lows.Cjtwftmstocifcd tmh `jrhdjfcd, (f) ocy kjctrokts jr shrfhs j` kjctrokts krhotfcd oc jkkupockyfcthrhst fc ocy `okflfty ot @ofr Rore fc hxkhss j` jch yhor smoll gh sugnhkt tj Kfty Kjuckflopprjvol, oci (ff) ocy kmocdh fc jkkupocky j` ocy `okflfty ot @ofr Rore tmot fs jkkupfhi os j` tmhKjaahckhahct Ioth smoll gh sugnhkt tj tmh opprjvol j` tmh Ifrhktjr.

    [hktfjc 9.?8 Jphrotfcd Mjurs5 [phkfol Hvhcts5 Gjjefcds. @ofr Rore smoll rhaofcjphc oci okkhssfglh `jr puglfk ush sugnhkt tj rhosjcoglh rulhs, rhdulotfjcs, pjlfkfhs, prjkhiurhs,jphrotfcd mjurs, oci mjlfioys hstoglfsmhi gy tmh @juciotfjc, wmfkm smoll gh kjaahrkfollyrhosjcoglh. Ocy aothrfol rhiuktfjc jr smjrthcfcd j` jphrotfjcol ioys oci mjurs smoll gh

    sugaftthi fc oivockh tj tmh Ifrhktjr oci tmh Rore Gjori `jr rhvfhw oci opprjvol prfjr tjfaplhahctotfjc.

    [hktfjc 9.?0 Ruglfk Whlotfjcs, Aorehtfcd, Rrjajtfjc, Oivhrtfsfcd, oci@ucirofsfcd.

    (o) Aorehtfcd. Ymh @juciotfjc smoll movh oci hxhrkfsh hxklusfvh outmjrfty ocikjctrjl jvhr oll puglfk rhlotfjcs, aorehtfcd, prjajtfjcs, oci oivhrtfsfcd oktfvftfhs j` ocy coturhjr kmorokthr wmotsjhvhr jc ghmol` j` oci `jr tmh ghch`ft j` @ofr Rore jr toefcd plokh ot @ofr Rore.

    (g) @ucirofsfcd. Ymh @juciotfjc wfll movh tmh hxklusfvh rfdmt tj ploc, ihsfdc,faplhahct, oci aocodh oll `ucirofsfcd h``jrts `jr @ofr Rore, fckluifcd tmh rfdmt tj chdjtfoth ollaorehtfcd spjcsjrsmfps `jr @ofr Rore, oci tj sjlfkft `ucis `rja Cjc-Kfty [jurkhs. [ugnhkt tj tmhjtmhr prjvfsfjcs j` tmfs Odrhhahct, fckluifcd[hktfjc 9.?4,tmh @juciotfjc wfll movh tmh rfdmt tjfckjrpjroth ijcjr rhkjdcftfjc prjdroas fc kjcchktfjc wftm fts `ucirofsfcd oci kopftolkoapofdcs.

    (k) Ijcjr Ghch`fts oci Fckhctfvhs. Ymh @juciotfjc wfll movh tmh rfdmt tj ihvhljpopprjprfoth ijcjr ghch`fts tmot orh kjaphtftfvh wftm jtmhr kulturol fcstftutfjcs fc tmh rhdfjc.

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

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    AOCODHAHCY ODWHHAHCY Rodh ?6

    [hktfjc 9.?4 Coafcd oci [pjcsjrsmfp.

    (o) Kjaplfockh. Iurfcd tmh Yhra j` tmfs Odrhhahct, tmh @juciotfjc smoll movh tmhrfdmt tj kjctrokt `jr oci droct spjcsjrsmfps, oivhrtfsfcd spokh, oci coafcd rfdmts `jr oll kurrhctoci `uturh osshts, `okflftfhs, hvhcts, prjdroas, oci oivhrtfsfcd pochls fcvjlvfcd @ofr Rore. Ocysukm orrocdhahcts smoll (f) cjt kjc`lfkt wftm ocy hxfstfcd coafcd oci/jr spjcsjrsmfporrocdhahcts fc h``hkt wftm tmh Kfty, tmrjudm fts Rore oci Whkrhotfjc Ihportahct, os j` tmhKjaahckhahct Ioth `jr tmhfr stothi thra jr kjaaftahct5 (ff) gh sugnhkt tj tmh mfstjrfk jvhrloyjrifcockh oci tmh rhqufrhahcts j` tmh Iollos Lociaore Kjaafssfjc5 (fff) thrafcoth wftm tmhhxpfrotfjc j` tmfs Odrhhahct5 (fv) fc cj woy jglfdoth, kjaaftjr gfci tmh Kfty5 (v) gh j` o `frstkloss quolfty, tosth`ul, ottroktfvh, oci suftoglh `jr `okflftfhs kothrfcd tj `oaflfhs, kmflirhc ociyjutm potrjcs5 oci (vf) gh jc kjaahrkfolly rhosjcoglh thras oci kjcsfsthct wftm djjikjaahrkfol proktfkhs. [pjcsjrsmfps, oivhrtfsfcd, oci/jr coafcd rfdmts fcvjlvfcd @ofr Rore smollcjt prjajth, oivhrtfsh, jr rhloth tj tjgokkj prjiukts jr kjapocfhs, shxuolly jrfhcthi gusfchss, jrgh j` o cjc-kjaahrkfol jr koush-jrfhcthi coturh (h.d., prjajtfcd jr krftfkfzfcd o pjlftfkol porty,puglfk j``fkfol, jr kocifioth5 o pjlftfkol jr sjkfol koush jr ajvhahct5 jr o rhlfdfjc, rhlfdfjushstoglfsmahct, jr rhlfdfjus ajvhahct).

    (g) Opprjvol. Ymh Rore Gjoris opprjvol fs rhqufrhi `jr ocy phraochct rh-coafcdj` ocy guflifcds jr `okflftfhs hxfstfcd ot @ofr Rore os j` tmh Kjaahckhahct Ioth. Fc oiiftfjc,tmh Ifrhktjrs opprjvol fs rhqufrhi `jr ocy spjcsjrsmfp tmot hxkhhis `fvh (8) yhors `jr ocy @ofrRore oahcfty (fckluifcd pfkcfk orhos, lociskoph orhos, oci/jr chw oahcftfhs sukm os o korjushl jrocy prjpjshi rhkrhotfjcol hqufpahct). F` o spjcsjrsmfp orrocdhahct rhqufrhs tmh coah tj gh jco guflifcd jr `okflfty ljkothi ot @ofr Rore, sukm orrocdhahct aust gh sugaftthi tj tmh Ifrhktjr `jropprjvol rhdorilhss j` tmh thra j` sukm orrocdhahct, oci tmh coah aust kjah o`thr tmh coah j`tmh `okflfty. Gy woy j` hxoaplh oci cjt lfaftotfjc, oc oktfvfty spjcsjrhi gy tmh Mfstjry Kmocchlot tmh Moll j` [toth aoy gh prhshcthi, sugnhkt tj tmh Ifrhktjrs opprjvol, os Moll j` [toth,prhshcthi gy tmh Mfstjry Kmocchl. Cjtwftmstocifcd tmh `jrhdjfcd, chftmhr tmh Kfty cjr tmh

    @juciotfjc aoy shll tmh coafcd rfdmts `jr @ofr Rore os o wmjlh hxkhpt wftm tmh prfjr kjcshct j`gjtm portfhs, wmfkm fc tmh Kftys kosh smoll rhqufrh opprjvol gy tmh Rore Gjori oci tmh KftyKjuckfl. Ocy sukm spjcsjrsmfp jr coafcd rfdmts orrocdhahct os ifskusshi ucihr tmfs[hktfjc9.?4 oci hcthrhi fctj gy tmh @juciotfjc smoll gh ossuaoglh gy tmh Kfty ot fts hlhktfjc upjc ocythrafcotfjc j` tmfs Odrhhahct pursuoct tj wmfkm tmh @juciotfjc khoshs tj jkkupy @ofr Rore. YmhKfty, tmrjudm fts Rore Gjori, rhshrvhs tmh rfdmt tj rhqufrh rhcoafcd f` o coahi kjrpjrotfjc khoshstj hxfst jr f` o coahi kjrpjrotfjc jr fcifvfiuol fs kjcklusfvhly lfcehi tj o `hljcy kjcvfktfjc.

    [hktfjc 9.?= Kjckhssfjcofrh oci Phcijr Kjctrokts. Ymh @juciotfjc smoll movh tmhhxklusfvh outmjrfty tj chdjtfoth oci hxhkuth (fc fts jwc coah oci cjt tmh coah j` tmh Kfty) ociphr`jra vhcijr kjctrokts fcvjlvfcd @ofr Rore oci fts vfsftjrs. Ymh @juciotfjc aoy, gy ftshl` jr

    tmrjudm ocy kjckhssfjcofrhs oci lfkhcshhs, prjvfih sukm kjckhssfjcs, prjiukts, shrvfkhs, oci`okflftfhs ot @ofr Rore os ft ihhas opprjprfoth oci kjcsfsthct wftm tmh Rhraftthi Xsh. Ocy oci ollkjckhssfjcofrhs oci lfkhcshhs tmot jphroth wftmfc @ofr Rore ucihr kjctrokt wftm tmh @juciotfjcsmoll (f) jphroth ucihr kjctrokt thras kjaahrkfolly rhosjcoglh `jr tmh typh j` kjckhssfjc,prjiukt, shrvfkh, jr `okflfty j``hrhi, (ff) kjaply wftm oll Opplfkoglh Lows kjckhrcfcd tmhfrjphrotfjcs, (fff) gh j` o `frst kloss oci prj`hssfjcol quolfty, (fv) gh sugnhkt tj tmh thras j` tmfsOdrhhahct, (v) korry fcsurockh opprjprfoth tj fts oktfvftfhs oci kjcsfsthct wftm tmot rhqufrhi j`tmh @juciotfjc ucihr tmfs Odrhhahct, oci (vf) fcihacf`y, ih`hci, oci mjli moralhss tmh Kfty

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    25/73

    AOCODHAHCY ODWHHAHCY Rodh 72

    `rja oci odofcst ocy oci oll ljss, kjst, klofa, lfogflfty, hxphcsh, jr ioaodh, fckluifcd wftmjutlfaftotfjc ottjrchys `hhs oci kjurt kjsts, fc ocy woy rhlothi tj jr orfsfcd `rja fts oktfvfty ot @ofrRore.

    [hktfjc 9.?6 Jtmhr Oktfvfty. Tftmjut lfaftfcd ocy jtmhr prjvfsfjc j` tmfs Odrhhahct,tmh @juciotfjc fs mhrhgy outmjrfzhi tj oci smoll>

    (f) kjaahckh, ih`hci, oci shttlh fc djji `oftm, ot cj kjst jr lfogflfty tj tmhKfty, sukm lhdol oktfjcs jr prjkhhifcds kjckhrcfcd tmh aocodhahct oci jphrotfjc j` @ofrRore os orh chkhssory jr rhqufrhi fc tmh jpfcfjc j` tmh @juciotfjc5

    (ff) aofctofc oci aoeh ovofloglh tj tmh puglfk o skmhiulh j` gosfk roths, `hhs,oci kmordhs `jr oiafttockh `jr sphkfol hvhcts, shrvfkhs, oci prjdroas ot @ofr Rore,rhkjdcfzfcd tmot dhchrol oiafttockh tj tmh dhchrol drjucis j` @ofr Rore fs `rhh j` kmordh,hxkhpt os jtmhrwfsh prjvfihi fc[hktfjc 4.275

    (fff) purkmosh oci aofctofc oll aothrfols, tjjls, aokmfchry, hqufpahct, oci

    supplfhs chkhssory `jr @ofr Rore Aocodhahct, ot fts hxphcsh, oci aofctofc, rhpofr,updroih, ifspjsh j`, rhplokh, oci/jr oii tj tmh @ofr Rore Rhrsjcol Rrjphrty os chkhssoryjr kjcvhcfhct `jr @ofr Rore Aocodhahct iurfcd tmh Yhra j` tmfs Odrhhahct5

    (fv)

    aofctofc @ofr Rore oci tmh @ofr Rore Rhrsjcol Rrjphrty fc o djji, so`h,klhoc, ottroktfvh, socftory, rhpofrhi, oci ushoglh kjciftfjc kjcsfsthct wftm OpplfkoglhLows oci hstoglfsm, kjjrifcoth, oci oiafcfsthr o prhvhctfvh aofcthcockh prjdroa `jr@ofr Rore oci tmh @ofr Rore Rhrsjcol Rrjphrty5

    (v) prjaptly `urcfsm tj tmh Kfty sukm rhpjrts, rhkjris, oci jtmhr fc`jraotfjckjckhrcfcd @ofr Rore oci @ofr Rore Aocodhahct os aoy gh rhosjcogly rhquhsthi `rja

    tfah tj tfah gy tmh Ifrhktjr oci kjaply wftm ocy rhkjri rhthctfjc rhqufrhahcts os aoygh rhquhsthi gy tmh Kfty jr rhqufrhi gy Opplfkoglh Lows jr `jr Djvhrcahctol Opprjvols5oci

    (vf) fc tmh jrifcory kjursh j` gusfchss, aoeh prjapt poyahct tj fts vhcijrs,kjckhssfjcofrhs, kjcsultocts, kjctroktjrs, oci sfaflor portfhs, prjvfihi tmot cjtmfcd mhrhfcsmoll prhvhct tmh @juciotfjc `rja kjcthstfcd oci lftfdotfcd, fc djji `oftm, ocy poyahctollhdhi tj gh iuh tj ocy sukm phrsjc.

    [hktfjc 9.72 Kfty Okkhss. Cjtwftmstocifcd ocytmfcd tj tmh kjctrory fc tmfs Odrhhahct,tmh Kfty rhshrvhs tmh rfdmt tj oci aoy hcthr @ofr Rore (oci oll orhos tmhrhfc) ot ocy oci oll tfahs`jr ocy oci oll purpjshs, fckluifcd fcsphktfjc, prjvfihi tmot tmh Kfty smoll ush fts ghst h``jrts tjcjt fcthr`hrh wftm @ofr Rore Aocodhahct (uclhss sukm fcthr`hrhckh fs chkhssory tj prhshrvh tmhmholtm, so`hty oci whl`orh j` tmh puglfk jr tmh @juciotfjc hapljyhhs jr fs aoih pursuoct tj ftspjlfkh pjwhrs). Ymh @juciotfjc smoll prjvfih tj tmh Kfty, wftmjut kjst, rhosjcoglh j``fkh spokhot @ofr Rore `jr ocy jc-sfth prhshckh tmh Kfty ihhas opprjprfoth.

    [hktfjc 9.7? Royahct j` Jutstocifcd Fcvjfkhs. Ymh Kfty smoll rhaofc jglfdothi `jroll djjis oci shrvfkhs prjvfihi tj @ofr Rore prfjr tj tmh Kjaahckhahct Ioth `jr wmfkm ocfcvjfkh mos ghhc rhcihrhi tj tmh Kfty oci sukm fcvjfkh fs klossf`fhi os oc jphc hckuagrockh gy

  • 7/25/2019 Proposed DRAFT Management Agreement With Fair Park Texas Foundation (1)

    26/73

    AOCODHAHCY ODWHHAHCY Rodh 7?

    tmh Kfty. [mjuli ocy fcvjfkhi djjis jr shrvfkhs prjvfihi tj @ofr Rore prfjr tj tmhKjaahckhahct Ioth gh sugshquhctly rhturchi `jr krhift o`thr tmh Kjaahckhahct Ioth, tmh@juciotfjc smoll poy tj tmh Kfty ocy sukm krhift ft rhkhfvhs.

    [hktfjc 9.77 Kfty Ihportahcts jr O``flfoths. Cjtwftmstocifcd ocytmfcd tj tmhkjctrory fc tmfs Odrhhahct, ot cj tfah iurfcd tmh Yhra j` tmfs Odrhhahct smoll tmh @juciotfjcifsplokh TWW ?2?.? @A, Iollos Kfty Chws Yhlhvfsfjc (IKCYP), jr Iollos Rjlfkh Ihportahct Ajucthi oci Kocfch Xcfts `rja tmhfr ljkotfjc wftmfc @ofr Rore, os sukm hxfsts os j` tmh H``hktfvhIoth, wftmjut tmh prfjr outmjrfzotfjc j` tmh Kfty. Ymh Kfty smoll kjctfcuh tj gh rhspjcsfglhtmrjudmjut tmh Yhra j` tmfs Odrhhahct `jr tmh utflfty, aofcthcockh, rhpofr, oci jtmhr JphrotfcdHxphcshs oci Kopftol Hxphcifturhs rhlothi tj sukm `okflftfhs sj ljcd os tmhy orh jkkupfhi gy Kftyihportahcts, oci tmh @juciotfjc smoll movh cj sukm jglfdotfjcs wftm rhsphkt tmhrhtj.

    [hktfjc 9.7; Glhokmhr Ljt. Ymh @juciotfjc smoll movh tmh rfdmt tj okkhss oci smollaofctofc oci jphroth tmh rhol prjphrty sht `jrtm oci ihskrfghi fc Hxmfgft 9.7;, wmfkm fs jwchi gytmh Kfty oci kjaajcly rh`hrrhi tj os tmh Glhokmhr Ljt. Ocy rh`hrhckh fc tmfs Odrhhahct tj@ofr Rore wfll gh ihhahi tj fckluih tmh rhol prjphrty ihskrfghi fc tmfs[hktfjc 9.7;.

    OWYFKLH PXYFLFYFH[, YO]H[, FC[XWOCKH, OCI FCIHACF@FKOYFJC.

    [hktfjc 8.2? Xtflftfhs. Ghkoush tmh portfhs movh ihthrafchi tmot ft fs ajrhoivoctodhjus, proktfkol, oci hkjcjafkol `jr tmh @juciotfjc tj okqufrh utflftfhs `jr @ofr Roretmrjudm tmh Kftys utflfty orrocdhahcts, tmh Kfty smoll gh rhspjcsfglh `jr shkurfcd oci poyfcd `jroll Xtflfty [hrvfkhs rhcihrhi tj jr ushi fc, jc, jr ogjut @ofr Rore iurfcd tmh Yhra j` tmfsOdrhhahct. Xtflfty [hrvfkhs ahocs wothr, shwhr, hlhktrfkfty, wosthwothr, stjra wothrirofcodh, dorgodh oci rh`ush ifspjsol, coturol dos, lfdmts, mhot, oci thlhkjaaucfkotfjcs shrvfkhsushi fc kjcchktfjc wftm @ofr Rore Aocodhahct. Ghdfccfcd jc tmh Kjaahckhahct Ioth