Make Your 2021 Early Season Predictions

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(05-23-2021, 02:21 PM)GodFather Wrote: But the Bengals promised a winning team in return. They did not deliver to this day.

I don't see that in the lease summary:

Quote:LEASE SUMMARY

TEAM: Cincinnati BENGALS
Team Owner: Mike Brown
Team Website
FACILITY: Paul Brown Stadium
Facility Website
Year Built: 2000
TITLE OF AGREEMENT: Lease Agreement
Lessor: Board of Commissioners of Hamilton County, Ohio
Lessee: Cincinnati Bengals, Inc.
TERM OF AGREEMENT:
The Term shall commence on the date “on which Team occupies the entire Stadium Complex . . .
and end on June 30, 2026” or “on such earlier date on which this Lease has been terminated
pursuant to the terms of this Lease.” Section 5.1, page 21.
ANNUAL FIXED PAYMENT:
“Team shall pay an annual base rent (‘Base Rent’) to County for the Stadium Complex during
the first nine (9) Lease Years in accordance with the following schedule:
Lease Year Base Rent
1 (2000) $1,700,000.00
2 (2001) $1,600,000.00
3 (2002) $1,500,000.00
4 (2003) $1,400,000.00
5 (2004) $1,300,000.00
6 (2005) $1,200,000.00
7 (2006) $1,100,000.00
8 (2007) $1,000,000.00
9 (2008) $900,000.00.”
Section 6.1, page 24.
TERMINATION OF LEASE:
Team Default:
“The occurrence of any one or more of the following matters constitutes a default (each, a ‘Team
Default’) by Team under this Lease:
22.1.1 Team’s failure to pay any Rent or other charges due and payable to County within
thirty (30) days after written notice thereof from County to Team;
22.1.2 Team’s failure to observe or perform in any material respect any other covenant,
agreement, condition or provision of this Lease
22.1.3 Team admits in writing its inability to pay its debts as they mature, or makes an
assignment for the benefit of creditors
2
22.1.4 A trustee or receiver is appointed for Team or for the major part of its property and
is not discharged within thirty (3) days after such appointment; or
22.1.5 Bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or
other proceedings for relief under any bankruptcy law, or similar law for the relief of
debtors, are instituted by or against Team.”
Section 22.1, page 53.
USE OF FACILITY:
The “Team and its officers, directors, agents, employees, contractors, licensees, invitees and
guests shall be entitled to possession and use of the Stadium Complex for the following purposes
and no other purposes:
8.1.1 To play NFL pre-season, regular season and post-season football games . . .
8.1.2 To present events related to the NFL college player draft . . .
8.1.3 To conduct . . . bona fide football-related activities . . .
8.1.4 To use and to occupy, on a 365-day year round exclusive basis, the Exclusive Leased
Premises
8.1.5 To use and to occupy, on a 365-day year round exclusive basis, the Private Suites
Section 8.1, pages 25-26.
MAINTENANCE:
“County is responsible for performing, or, in the event County has retained a Manager, causing
the Manager to perform, Routine Maintenance . . . and County, in any event, is responsible for
paying the cost of Routine Maintenance.” Section 13.1, page 43.
INSURANCE:
Team’s Insurance:
“Team shall procure and maintain policies of insurance, at its sole cost and expense, during the
entire Term hereof as follows:” commercial general liability insurance, workers’ compensation
insurance, standard fire insurance, and liquor liability insurance.” Section 25.2, page 61.
County’s Insurance:
“County shall procure and maintain policies of insurance, at its sole cost and expense, during the
entire Term hereof as follows:” commercial general liability insurance, fire and casualty insurance,
and standard fire and extended coverage insurance.” Section 25.3, page 61.