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<br />is hereby amended to read as follows:
<br />
<br />"(a) (1) For the period commencing on April 1, 1994 and ending on
<br />August 31, 1998, City will establish an escrow accoll...'lt, into which City shall
<br />deposit two thirds (2/3) of all gross receipts from patrons using the pier. The
<br />purpose of this escrow account is to establish a self-insured fund for the future
<br />repairs to or restoration of the pier in event of damage or destruction to the pier,
<br />either from natural or other causes, which repairs and restoration the City shall
<br />perform. City will continue to deposit, into the escrow account, two thirds (2/3)
<br />of all gross receipts from patrons using the pier, until the escrow account reaches a
<br />balance in an amount that produces buying power equivalent to $60,000.00 in the
<br />year 1993, said balance being hereinafter called "the $60,000.00 equivalent."
<br />During the term of this agreement, the $60,000.00 equivalent, as used herein,
<br />means an amount that produces buying power equivalent to $60,000.00 based on
<br />the change, if any, in the Houston, Texas, Average Consumer Price Index - All
<br />Vrban Customers ("CPI-V"). The calculation of the increase, if any, is set forth in
<br />subparagraph (f) below. In the event the balance in the escrow account falls
<br />below the $60,000.00 equivalent, the City shall promptly commence depositing
<br />two thirds (2/3) of all gross receipts into said escrow account so as to increase the
<br />balance to the $60,000.00 equivalent. After the escrow account reaches a balance
<br />of the $60,000.00 equivalent, the City shall pay to County one third (1/3) of the
<br />gross receipts, as hereinafter defined. On or before the tenth (10th) day of January,
<br />April, July, and October during the term of this Agreement, the City shall
<br />compute and pay to the County, without demand, at the Office of the County
<br />Treasurer, the County's one-third (113) portion of the gross receipts that is not
<br />required to be deposited by City into the escrow account, covering the
<br />immediately preceding three-month period. City shall accompany each payment
<br />with a sworn statement, certifying as true and correct, the amount of gross receipts
<br />collected pursuant to this Agreement for the immediately preceding three-month
<br />period.
<br />
<br />(a) (2) For the period commencing September 1, 1998 and ending
<br />December 31, 2007, City will establish an escrow account, into which City shall
<br />deposit two thirds (2/3) of all gross receipts from patrons using the pier. The
<br />purpose of this escrow account is to establish a self-insured fund for the fuhlre
<br />repairs to or restoration of the pier in event of damage or destruction to the pier,
<br />either from natural or other causes, which repairs and restoration the City shall
<br />perform. City will continue to deposit, into the escrow account, two thirds (2/3)
<br />of all gross receipts from patrons using the pier, until the escrow account reaches a
<br />balance in an amount that produces buying power equivalent to $150,000.00 in
<br />the year 1998, said balance being hereinafter called "the $150,000.00 equivalent."
<br />During the term of this agreement, the $150,000.00 equivalent, as used herein,
<br />means an amount that produces buying power equivalent to $150,000.00 based on
<br />the change, if any, in the Houston, Texas, Average Consumer Price Index - All
<br />Urban Customers ("CPI-V"). The calculation of the increase, if any, is set forth in
<br />subparagraph (f) below. In the event the balance in the escrow account falls
<br />below the $150,000.00 equivalent, the City shall promptly commence depositing
<br />two-thirds (2/3) of all gross receipts into said escrow account so as to increase the
<br />balance to the $150,000.00 equivalent. After the escrow account reaches a
<br />balance of the $150,000.00 equivalent, the City shall pay to County one third (1/3)
<br />of the gross receipts, as hereinafter defined. On or before the tenth (loth) day of
<br />January, April, July, and October during the term of this Agreement, the City shall
<br />compute and pay to the County, without demand, at the Office of the County
<br />Treasurer, the County's one-third (1/3) portion of the gross receipts that is not
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