8587-12 Settle agreement w/ Ice Land USA over tax valuation

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7. The parties hereby agree that for so long as the value of the Property for real estate tax purposes rises and falls from the $1,350,000 fair market value based upon the general inflation and deflation of other commercial property in the City of Lakewood, Ice Land shall provide Lakewood in each school year four (4) separate parent/studentlSchool Board employee events, of 2 to 3 hour skating parties at reasonably mutually acceptable dates, with the parties acknowledging it is more difficult to schedule the parties during the hockey season, at no charge to Lakewood for the ice time. Skate rental and concessions will be available at the regular price. By means of clarification (i) as to timing, as the 2014 taxes are payable in January, 2015 and July 2015, Ice Land's obligation shall extend through the 2014!2015 school year as to tax year 2014, and (ii) the intention of the parties is that so long as the foregoing agreed valuation amount generally rises and falls with inflation and deflation of general commercial properties in Lakewood, Ice Land's obligation shall continue, provided however, Ice Land shall have no obligation which extends beyond its possession of the Property. 8. This Agreement sets forth the entire Agreement between the parties and fully supersedes any and all other prior agreements or understandings between the parties pertaining to the subject matter hereof. No provision of this Agreement may be modified, waived, or discharged unless the waiver, modification or dischazge is agreed to in writing and signed by all of the parties. No agreements, or representations, oral or otherwise, express or• implied, with respect to the subject matter hereof, have been made by any party that are not set forth expressly in this Agreement. Complete performance of each term of this Agreement is essential to achieve the understanding reached by the Parties and accordingly, none of the provisions of this Agreement are severable. 9. This Agreement shall be interpreted and construed in accordance with the laws of the State of Ohio and the parties consent to the jurisdiction of a court of competent jurisdiction in the event this Agreement is breached. 10. The persons signing below for City, Lakewood, and Ice Land acknowledge and represent that they do so with the authority to bind City, Lakewood, and Ice Land, respectively, to all the terms of this Agreement. All necessary action has been taken by Lakewood to empower Lakewood and its authorized representative to execute and deliver this Agreement and all other documents required to implement same. All necessary action has been taken by City to empower City and its authorized representative to execute and deliver this Agreement and all other documents required to implement same. All necessary action has been taken by Ice Land to empower Ice Land and its authorized representative to execute and deliver this Agreement and all other documents required to implement same. This Agreement shall be binding upon Lakewood, City, and Ice Land and their successors and assigns. Each of the parties agree that they will reasonably cooperate and timely execute and deliver to the other upon request, such other additional documentation as is necessary to carry out the terms of this Agreement. 11. The WHEREAS clauses are incorporated into this Agreement. 12. This Agreement maybe executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument. 4