Common use of Purpose of Lease Clause in Contracts

Purpose of Lease. 1. Pursuant to M.G.L. c.30B, the Town solicited proposals for the construction, operation, and maintenance of an ice skating rink. The Town hereby leases to the Lessee the Leased Premises described in Article III below for the purposes of providing for the professional services necessary to construct and for the day-to-day management and operation, in the best interests of the Town of Belmont, of the ice skating rink, and appurtenant facilities, (together, the “Facility”) located in Belmont, MA. Said Facility shall not be used for any other purpose by the Lessee or its employees, agents and representatives without the prior written approval of the Town. 2. It is the intent of the parties hereto that the management and operation of the Facility shall be self-supporting and that all expenses incurred in the course of such operation shall be paid from the revenues derived from the fees charged for programs, goods and services provided by the Lessee. In consideration of the Lessee providing the management and operation services as described in this Lease, any and all surplus revenue remaining after all expenses associated with the operation of the Facility have been paid, and after payments required by this Lease have been made, shall become the property of the Lessee as a management fee. Additionally, any deficit in revenue to operational expenses shall be ▇▇▇▇▇▇’s sole financial responsibility. Notwithstanding any other provisions of this Lease, the Town shall have no obligation to pay any such expenses. 3. The Lessee shall exercise due care and diligence in performing under this Lease in accordance with the applicable professional standards in the eastern Massachusetts area.