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Home My WebLink About4.09 Steel Watercolor CITY CLERK File # ~-1 (~H ~JJ~'J~ o J AGENDA STATEMENT CITY COUNCIL MEETING DATE: March 16, 2004 SUBJECT: Amendment to Agreement for the Temporary Display of Sculpture at Dublin Civic Center Report by Theresa Yvonne, Heritage & Cultural Arts Supervisor ATTACHMENTS: 1. Fifth Amendment to Extend Time - Steel Watercolor No. 99 RECOMMENDATION: ~,/~?~AAuthorize Mayor to Execute Amendment FINANCIAL STATEMENT: None DESCRIPTION: The City of Dublin currently has a sculpture on loan from KLMLP, LP (formerly Kemper Real Estate Management Company). The sculpture "Steel Watercolor # 99 is a 22 ½ foot tall sculpture by bay area artist, Fletcher Benton. The agreement terms for Steel Watercolor No. 99 have expired but there are provisions for extension upon written approval of all parties to the agreements. KLMLP, LP and the Dublin Fine Arts Foundation have indicated a desire to extend the loan for an additional two years. Attachment 1 is the amendment to the agreement. The amendment provides for an extension until the year 2006 and additionally, authorizes the City Manager to further extend the consignment term for up to two additional two year periods upon written request from both the Dublin Fine Arts Foundation and KLMLP, LP. RECOMMENDATION: Staff recommends that the City Council authorize Mayor to execute amendment. COPIES TO: KLMLP, LP/Dublin Fine Arts Foundation ITEM NO. G:\COUNCIL~Agenda StatementsX2004X3-16 steelwater #99 loan.doc FIFTH AMENDMENT TO EXTEND TIME This Fifth Amendment to Extend Time entered into as of the day of ., 2004, by the Dublin Fine Arts Foundation, a non-profit corporation (hereinafter called "DFAF"), KLMLP, LP. a Delaware limited partnership (hereinafter called "KLMLP"), and the City of Dublin, a municipal corporation, (hereinafter "City"), amending the Agreement dated March 26, 1996, the First Amendment to Extend Time dated May 6, 1997, the Second Amendment to Extend Time dated July 7, 1998, the Third Amendment to Extend Time dated December 31, 1999 and the Fourth Amendment to Extend Time dated January 16, 2001. RECITALS WHEREAS, the Agreement dated March 26, 1996 was entered into the DFAF, the City and Kemper Real Estate Management Company £or the consignment of the sculpture titled "Steel Watercolor No. 99", and ~ WHEREAS, a First Amendment to Extend Time dated July 7, 1998 was entered into by the parties to the March 26, 1996 Agreement and provided £or an extension of the consignment term for an additional one year period; and WHEREAS, a Second Amendment to Extend Time dated July 7, 1998 was entered into by the parties to the March 26, 1996 Agreement and provided for an extension of the consignment term for an additional one year period; and WHEREAS, a Third Amendment to Extend Time dated December 31, 1999 was entered into by the parties to the March 26, 1996 Agreement and provided for an extension o£the consignment term for an additional one year period; and WHEREAS, a Fourth Amendment to Extend Time dated January 16, 2001 was entered into by the parties to the March 26, 1996 Agreement and provided for an extension o£the consignment term for an additional one year period; and WHEREAS, the parties to this Fifth Amendment to Extend time wish to extend the consignment term for an additional two year period. Now, therefore, the parties agree as follows: 1. The parties agree to extend the consignment term of the "Steel Watercolor No. 99" sculpture £or an additional two year period from the date of execution o£this Fifth Amendment to Extend Time. 2. City Council authorizes the City Manager to further extend the consignment term for up to two (2) additional two (2) Fifth Amendment to Extend Time 3/4/2004 Between City of Dublin and Dublin Fine Arts Foundation ATTACHMENT 1 year periods upon written request from both DFAF and KLMLP, LP. 3. All provisions, terms, and covenants of the Fourth Amendment to Extend Time and the original Agreement regarding consignment of the sculpture, the rights and' responsibilities of the parties, the term of the consignment, signs, insurance, effects or damage, and notice shall remain in full force and effect during the term of the extension of the consignment. IN WITNESS WHEREOF, the parties hereto have set their hand to this Fifth Amendment to Extend Time on the date first written above. DUBLIN FINE ARTS FOUNDATION By: President CITY OF DUBLIN ATTEST: By: By: Mayor City Clerk KLMLP, L.P. By: President ~ts: