Among other things, the Agreement obligated the City to construct and maintain the Improvements, while also obligating the School Board to pay the City a contribution toward the installation of fencing and on-going annual maintenance of the Improvements once the school opened in 2003.

The attached First Amendment to the Agreement (“First Amendment”) clarifies, amends and restates certain provisions of the Agreement related to the City’s obligation with regard to the repair and maintenance of the Improvements and the School Board’s obligation to contribute toward the cost of maintenance of said Improvements.

As companion to the First Amendment, the attached Release of All Claims and Indemnity Agreement (“Release”) releases the School Board of all rights, interests and claims the City may have related to the Improvements, upon payment by the School Board to the City of a settlement in the amount of Seventy-Four Thousand Eight Hundred Twenty-One and No/100 Dollars ($74,821.00).  The settlement amount covers a reasonable portion of the annual cost of maintaining the Improvements since the school opened in 2003, as well as the costs of installing fencing, restriping the track and refurbishing the field. The City will proceed to install the fence, restripe the track and refurbish the field upon approval of this First Agreement and Release, and upon payment of the settlement amount by the School Board.