15 - Laserfiche WebLink

Attachment 4 FIELD SPONSOR AGREEMENT THIS FIELD SPONSOR AGREEMENT ("Agreement") is entered into April 1, 2022 ("Effective Date")between Lucile Salter Packard Children's Hospital at Stanford, a California nonprofit public benefit corporation ("Field Sponsor")and the City of Pleasanton, a municipal corporation("City"). Recitals A. City constructed the 16-acre Bernal Community Park, Phase II,Multi-purpose Lighted Sports Field ("Sports Complex") that has three lighted multi-purpose sports fields with synthetic turf,parking lots, a children's play area,equipment storage and a restroom,such that the facility is available for year-round play as part of the City's Bernal Community Park, located at 7001 Pleasanton Avenue, Pleasanton, CA 94566. B. Due to the complexity, size and cost of the Sports Complex, City and various sports groups in the community have entered into a Memorandum of Understanding ("MOU")dated December 2, 2014, by which these sports groups ("Sports Groups"as identified in the MOU) and the City have agreed to work collaboratively to obtain private funds to assure the Sports Complex would be constructed in a timely manner for the overall benefit of the community. C. As provided in the MOU, the Sports Groups have agreed to conduct a fundraising campaign to raise private funds to be applied to assist in offsetting the construction cost of the Sports Complex. D. As part of that effort, Sports Groups have contacted Field Sponsor to solicit its financial support. E. Field Sponsor is willing to provide financial support to assist in offsetting the construction cost of the Sports Complex on the terms and conditions set forth herein. F. City is willing to accept the financial support from Field Sponsor on the terms and conditions set forth herein. NOW,THEREFORE,in consideration of the mutual promises set forth in this Agreement, the parties agree as follows: 1. Contributions. As its contributions to the Sports Complex, Field Sponsor shall pay to the City the sum of$145,000, in installments as follows: the first installment in the amount of $20,716 on April 1,2022;the second installment in the amount of$20,714 on April 1, 2023; the third installment in the amount of$20,714 on April 1,2024; the fourth installment in the amount of$20,714 on April 1, 2025; the fifth installment in the amount of$20,714 on April 1, 2026; the sixth installment in the amount of$20,714 on April 1,2027; and the seventh and final installment in the amount of$20,714 on April 1, 2028, unless this agreement is terminated earlier. These contributions provide the Field Sponsor with a seven-year sponsorship of the 1