Summary:
The Greater Orlando Aviation Authority, "GOAA", All Aboard Florida-Operations, LLC, "AAF", and the City entered into a Rail Line Easement Agreement on January 22, 2014, "Easement Agreement," which governs the parties' rights and obligations related to the development of an inter-city rail project at the Orlando International Airport, "OIA."(GOAA controls the OIA property under the terms of the Amended and Restated Operation and Use Agreement.) On October 3, 2014, in conjunction with work under the Easement Agreement, GOAA and AAF, with the City's joinder and consent, entered into an Embankment Funding Agreement, "Agreement," to address the allocation of responsibility for constructing certain rail infrastructure improvements. The parties now desire to amend the Embankment Funding Agreement to include rights and obligations related to the construction of drainage improvements at OIA's midfield cross taxiway and to address modifications to the infrastructure work currently described in the Agreement. The City is not a party to the Second Amendment and has no obligations thereunder, but will execute a Joinder due to the City's ownership of fee simple title to the OIA property. |