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<br />NATIONAL SPORTS CENTER <br />SUPER RINK EXPANSION <br />GUARANTEE AGREEMENT <br /> <br />c;/~ ~ <br />..($) <br />/IW-t:rJ <br /> <br />THIS AGREEMENT is made this day of March 2006, by and between <br />the State of Minnesota acting through the Minnesota Amateur Sports Commission <br />("MASC"), the National Sports Center Foundation ("NSCF'), a Minnesota non-profit <br />corporation, and the City ofCenterville eCity ofCenterville"). <br /> <br />WITNESSEm: <br /> <br />WHEREAS, MASC, pursuant to Minnesota Statutes Chapter 240A, has the <br />authority to design, construct, own and operate an ice arena and auxiliary facilities; and <br /> <br />WHEREAS, MASC has determined the need for additional ice sheets at the <br />Schwan Center, and has requested the issuance of tax exempt bonds ("Bonds") by the <br />Anoka County Housing and Redevelopment Authority ("ACHRA") for the purpose of <br />assisting in the financing of an additional ice arena ("Facility") consisting of at least four <br />ice sheets to be located on property ("Property") owned by the MASC at the National <br />Sports Center (''NSC'') at 1700 - 105th Avenue NE, Blaine, Minnesota; and <br /> <br />WHEREAS, it is contemplated that the total cost of the Facility including the cost <br />of the design, construction and securing financing will be approximately $11,100,000.00; <br />and <br /> <br />WHEREAS, the ACHRA has agreed to issue Bonds for the purpose of financing <br />a portion of the construction of the Facility pursuant to certain terms and conditions all to <br />be set forth in various bond documents ("Bond Documents"); and <br /> <br />WHEREAS, the Property has been leased by MASC to ACHRA in connection <br />with the issuance of the Bonds; and <br /> <br />WHEREAS, ACHRA has subleased the Property to the NSCF; and <br /> <br />WHEREAS, pursuant to the sublease, the NSCF is responsible for the <br />construction and operation of the Facility; and <br /> <br />WHEREAS, the Centennial Youth Hockey Association ("CYHA"), a Minnesota <br />non-profit corporation, has entered into an ice sheet rental agreement ("Ice Sheet Rental <br />Agreement") with NSCF and MASC through which CYHA will receive certain priority <br />rights in scheduling and purchasing up to 1,340 ice sheet hours per year in return for <br />agreeing to purchase each year a minimum of 860 ice sheet hours. The City of Centerville <br />is willing to assist in the financing of the Facility by guaranteeing each year 16% of the <br />1340 ice sheet hours and in consideration of the CYHA guarantee of 860 hours, the <br />remaining hour guarantee would be 16% of 480 hours annually. <br /> <br />Draft 02/22/2006 <br /> <br />1 <br />