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III. Sports Groups Fundraising 1. The Sports Groups will actively pursue a fundraising campaign for the Bernal Community Park and the City will support the campaign by supplying the Sports Groups with the forms and processes necessary to track and account for all funds raised. All donations collected by the Sports Groups for the Bernal Community Park shall be made payable directly to the City. At the time the Sports Groups provide the appropriate City forms and donations, the City will issue a letter to each donor thanking it for the donation and acknowledging the tax exempt status of the donation to use in filing their annual income tax returns. Etc. 2. In the event that within 90 days after the opening of the Bernal Community Park, Phase II the Sports Groups has not raised $1.88 million (or other amount based on project construction bids), then each participating sports group will be allocated a portion of the outstanding fundraising balance to determine its share of the amount which is due prior to ten years after the date of the Park's opening (as determined starting from the date of the City Council action accepting the park improvements). 3. Allocation of the outstanding balance will be determined by calculating a per player amount and applying that amount to the number of players in each participating sports group. The To complete the calculation, the Sports Groups will be required to provide the City with the number of current players participating in its group as of July 1 of every other year, no later than January 30 of every other year. The City will prepare the required calculation and send each sports group an invoice in March of each year. An example is as follows: $880,000 (Total outstanding balance 90 days after opening of the Bernal Community Park, Phase ll) divided by 7,447(Current number of Sports Groups players as of July 1, of the first year after the opening) equals an allocation of$118 per player. Assuming a participating sports group has 800 players; its share of the outstanding balance to be paid off in full within ten years would be $94,400 (800 players X$118 per player). The Sports Groups will be required to make a minimum annual payment in an amount equal to the outstanding balance divided by the number of years remaining in the ten year payback period to the City annually on June 1. In this case that payment will be$9,440 annually for ten years, or$11.80 per player per year($94,440/800 players =$118/10 years). 4. Funds for the annual payment will be obtained either from a field usage charge or a per player fee as agreed to mutually be the Sports Groups and the City or upon City approval, an additional fundraising campaign. Any money raised by the Sports Groups after the opening of Bernal Community Park Phase II, will be used to offset the total outstanding balance. In the event the fundraising campaign results in the receipt of private funds that are in excess of the total Sports Groups fundraising commitment, the funds will be applied to additional Bernal Community Park improvements. The City will consult with the Sports Groups to identify the improvements subject to approval by the City Council. -4-