1998 010 Ordinance - Laserfiche WebLink

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determine the center's schedules and hours of operation and may impose usage, membership and other fees. However, during the first 60 days of operation, the Village will not be charged a fee for its residents' use. Thereafter, a prorata fee not in excess of that charged to Progressive employees will be passed on to the Village on a usage basis formula to be negotiated before opening of the facility. Fitness Center usage and fees will be applied equally to Progressive employees and Village residents. The Village will construct a swimming facility and appurtenances (e.g. parking lot, landscaping, pedestrian walkway and decks) on property adjacent to the Development in a manner exemplified in the architectural rendering attached here as Exhibit "A". Village shall determine the design and location of the swimming facility and be responsible for all construction. The Village shall pay all costs of construction of parking areas appurtenant to the swimming facility as such costs are incurred. All other costs of constructing facility (including the pool, bath house, decks, walkway and landscaping) shall be paid by Progressive as they are incurred, provided that the Village shall reimburse Progressive for the amount by which such other costs exceed $1,000,000.00. The principal amount of this reimbursement plus interest at a fixed rate equal to the five- year Treasury note rate shall be made within five years after commencement of construction. Interest will compound semi-annually. Prepayment of the entire outstanding balance of principal accrued interest may be made at any time without penalty. The applicable five-year Treasury not rate shall be determined, and interest shall begin to accrue, on the date construction is substantially completed; however, if construction is not substantially completed within four months after commencement of construction, then the rate shall be determined, and interest shall begin to accrue, at the end of such four- month period based on construction costs paid during that period and, thereafter, interest at such rate shall accrue on all additional construction costs as they are incurred. The Village shall execute one or more promissory notes reflecting the above terms as requested by Progressive. The Village shall allow employees of Progressive within a radius of five miles to use the swimming facility subject to any conditions and limitations of a type customarily imposed by owners and operators of swimming facilities. (Inclusive of 20 annual passes designated for Progressive employees' guests). The Village shall determine the swimming facility's schedules and hours of operation and may impose usage, membership and other fees for all users. Pool usage and fees will be applied equally to Progressive employees and Village residents. 3. CONSTRUCTION OF ROADWAY Promptly following execution of this Agreement. Village shall commence and pursue diligently to completion all action necessary to construct a roadway and utilities to service the Development ("Roadway"). The Roadway shall have at least one curb cut on SOM Center Road and one curb out on White Road and shall be constructed at the location shown on Exhibit "B". Village shall acquire by "Quick Take" or other expeditious means any and all property needed for the Roadway's curb cut access from White Road. Village shall complete this acquisition within one year from the date of this Agreement. Village shall also apply promptly to the Ohio Department of Development ("ODOD") for funding of all or a portion of the cost of the Roadway. Progressive and Village shall share equally (7 0l 2