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Legislative Assembly for the ACT: 2000 Week 3 Hansard (9 March) . . Page.. 790 ..

HEADS OF AGREEMENT

This agreement entered into on this 4th day of August 1997 at Canberra between the ACT Government (herein after referred to as "The Territory") for this first part; and

The Canberra COSMOS (herein after referred to as "The COSMOS") for the second part; and

The Bruce Stadium Management (herein after referred to as "The Stadium") for the third part.

Whereas the Territory proposes to redevelop the Bruce Stadium generally in accordance with the attached plans; and

The COSMOS intends to occupy and utilise the Stadium for its events;

The parties do hereby agree as follows:

PERIOD OF HIRING

The Tenancy Agreement will be for a 10 year period with a further 10 year option and is effective for the day of the game only (from 12:01 am to 11:59 pm - the hiring period) for matches allocated by the sport in which the tenants participate from 1998 (1st game of the 1998/99 season) to 2008 (last day of the 2008 season). Notwithstanding the aforementioned period of hiring, the Cosmos reserves the right to commence the period one year later ie. the 99/00 season.

EVENTS

The COSMOS will guarantee to locate all regular season "home and away" competition games at Bruce Stadium, as well as using their best endeavours to secure other games controlled by their governing bodies (National League, Soccer Australia, etc) such as finals events, trials, Internationals, etc.

COSMOS may have a problem with pre-season events as some teams only draw small crowds and they may want to put these games at a smaller venue.

RENTAL STRUCTURE

The base rental will be structured on the basis of a minimum of 15% of the total gate. This will include all categories of ticketing, but not complimentaries.

In the case of smaller matches, the base rent of 15% will need to be set off against a minimum guaranteed opening fee of say $5,000-$10,000 to ensure that the Stadium does not incur costs beyond its minimum revenue.

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