Asset Purchase Agreement - Renaissance Entertainment Corp. and Willows Fare LLC
ASSET PURCHASE AGREEMENT
THIS AGREEMENT, made and entered into as of 9/6/00, by and
among Renaissance Entertainment Corporation, a Colorado corporation
(hereinafter referred to as "Seller"), and Marta and Jim Selway, dba Willows
Fare L.L.C. residents of the State of California (hereinafter referred to as
"Buyer");
W I T N E S S E T H :
WHEREAS, Seller owns and operates the Bristol Renaissance Faire in
Kenosha, Wisconsin (the "Faire"); and
WHEREAS, Seller owns and operates an number of food and beverage
concessions at the Faire; and
WHEREAS, Seller desires to sell and Buyer desires to purchase certain
assets of Seller used in connection with certain of these food concessions.
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements contained herein, the parties hereto do hereby agree
as follows:
1. SALE AND PURCHASE OF ASSETS. On the terms and subject to the
conditions contained herein, Seller agrees to sell, convey, transfer, and
assign to Buyer, on the Closing Date (as hereinafter defined), and Buyer
agrees to purchase from Seller, the assets described in a. below in return
for the consideration herein provided:
a. ASSETS
(i) All kitchen equipment listed on EXHIBIT A.
(ii) All Signage listed on EXHIBIT B.
(iii) The right to use the concessions buildings listed on
EXHIBIT C (the "Concessions"), provided that buyer and Seller are
parties to a current concessionaire agreement.
2. PURCHASE PRICE. Subject to the terms and conditions of this
Agreement, Buyer shall purchase the assets specified in Paragraph 1 of this
Agreement, and, in full consideration for such assets and as the agreed
purchase price therefor, Buyer shall pay to Seller $300,000.00.
3. PAYMENT OF PURCHASE PRICE AND CLOSING. The purchase price to be
paid by Buyer to Seller for the assets specified in this Agreement, shall be
paid as follows:
a. PURCHASE PRICE. The purchase price shall be paid at closing
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b. CLOSING.
The closing of the sale and purchase contemplated hereby shall
take place at such place and date as mutually agreed upon by Buyer
and Seller to close (such date is herein called the "Closing Date").
At the closing, the following shall occur:
(i) Seller shall deliver to Buyer:
(A) A bill of sale and other good and sufficient
Instruments of transfer and conveyance as shall be effective to
vest in Buyer marketable title to the assets to be sold and
assigned to Buyer as provided in this Agreement;
(ii) Buyer shall deliver to Seller:
(A) $150,000.00 by certified or cashier's check or wire
transfer.
(B) Balance of $150,000.00 to be paid in accordance with
Exhibit D.
4. COVENANTS OF SELLER. Seller covenants and agrees to allow Buyer to
sell Italian Ices at the Tuscany Tavern, a concession building owned by the
Seller.
5. COVENANTS OF BUYER. Buyer covenants and agrees to allow Seller, at
no cost to Seller, to use space in the Queens Kitchen and the Black Swan
Kitchen to dispense beverages.
6. CONCESSIONAIRE AGREEMENT. Buyer may operate the concessions listed
on Exhibit C only pursuant to a current Concessionaire Agreement. If Buyer
chooses not to return to the Faire for a season or is not invited back to the
Faire, Buyer shall have the right to assign interest in the concessions as
provided in the most recent form of Concessionaire Agreement.
7. INDEMNIFICATION BY BUYER. Buyer shall indemnify and hold harmless
Seller against and In respect of:
a. Any and all liabilities and obligations of and claims arising out
of operation by Buyer of the Concessions;
b. Any and all loss, damage, or deficiency resulting from any
misrepresentation, breach of warranty or non-fulfillment of any agreement
on the part of Buyer under this Agreement; and
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c. Any and all actions, suits, proceedings, demands, assessments,
judgments, costs and expenses and reasonable attorneys fees incident to
any of the foregoing.
Buyer shall reimburse Seller, on demand, for any payment made by Seller
at any time after the Closing Date, in respect of any liability, obligation,
or claim to which the foregoing indemnity by Buyer relates.
8. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective heirs,
representatives, successors, and assigns, but shall not be assignable in whole
or in part by Buyer without the written consent of Seller.
9. NOTICES. Any notice or other communication provided for herein or
given hereunder to a party hereto shall be in writing and shall be delivered
in person to such party or mailed by first class mail, postage prepaid,
addressed as follows:
If to Seller: Renaissance Entertainment Corporation
ATTN: J. Stanley Gilbert
275 Century Circle, Suite 102
Louisville, CO 80027
If to Buyer: Marta and Jim Selway, dba Willows Fare, L.L.C.
235 North Murray Street
Suite C
Banning, CA 92220
or to such other address with respect to a party as such party shall notify
the others in writing as above provided.
10. GOVERNING LAW. All questions relating to the validity,
construction, performance or enforcement of this Agreement shall be governed
by the laws of the State of Colorado.
IN WITNESS WHEREOF, the parties have duly executed this Agreement on the
day and year first above written.
SELLER:
RENAISSANCE ENTERTAINMENT
CORPORATION
By /s/ J. Stanley Gilbert
-------------------------------------
J. Stanley Gilbert
President and Chief Operating Officer
BUYER:
By /s/ Jim Selway
--------------------------
Jim Selway
By /s/ Marta Selway
--------------------------
Marta Selway
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EXHIBIT A
Sheet 1
BRISTOL RENAISSANCE FAIRE--1998 KITCHEN EQUIPMENT
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ITEM PURCHASED VALUE LOCATION REPLACEMENT COST RK TOTAL REPLACEMENT
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1 Blodgel Oven 1983 $ 1,000.00 Royal Kitchen $ 4,000.00 COST $88,265.00
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1 South Bend Oven 1990 $ 1,000.00 RK $ 4,000.00
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1 Pizza Table 1983 $ 450.00 RK $ 650.00
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1 5 ft Heat Lamp 1990 $ 200.00 RK $ 350.00
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1 3 hole Steam Table 1990 $ 300.00 RK $ 450.00
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1 South Bend 4 burner range with oven 1983 $ 400.00 RK $ 1,000.00
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1 10 ft Stainless Steel work table 1983 $ 400.00 RK $ 400.00
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2 8 ft Stainless Steel work tables 300 @ 1988 $ 600.00 RK 300 @
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1 16 ft Heavy Duty Stainless Table 1984 $ 1,000.00 RK $ 1,200.00
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1 12 ft Heavy Duty Stainless Table 1983 $ 800.00 RK $ 900.00
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1 New Salad Table 1999 $ 800.00
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1 3 hole Steam Table 1993 $ 450.00 RK $ 600.00
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1 Fish Fryer 1990 $ 600.00 RK rebuilt in $ 2,300.00
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6 New Fryers @ 800 1999 RK $ 1,100.00
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1 Safe 1990 $ 50.00 RK $ 125.00
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4 sets Rolling Shelf Racks for storeroom 1983 $ 600.00 RK $ 700.00
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2 Walkin Coolers 1983 $ 7,000.00 RK 6,000 @
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1 Walkin Freezer 1991 $ 4,000.00 RK $ 6,000.00
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1 16 ft Outside Turkey Cooker with Trailer 1990 $26,000.00 RK $25,000.00
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1 10 ft Master Built Icean Cream Dipping Freezer 1993 $ 2,000.00 RK $ 4,000.00
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8 Large Custom Built Food Signs 1994 700 @ RK 700 @
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Misc. Small Wares -- pots, pans, scales, 1983-99 $ 1,000.00 RK $ 3,500.00
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table inserts, knives, spoons,
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biotherms, thermometers, etc.
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1 4 hole Stainless Sink 1983 $ 600.00 RK $ 1,200.00
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Page 1
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EXHIBIT A
Sheet 2
BRISTOL RENAISSANCE FAIRE 1997 KITCHEN EQUIPMENT
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ITEM PURCHASED VALUE LOCATION REPLACEMENT COST
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Wash Tub Sink 1993 $ 70.00 Black Friars $ 100.00
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5 Oak Barrel Top Heads 1993 $ 200.00 BF $ 300.00
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Misc. Small Wares 1993 $ 300.00 BF $ 300.00
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3 Six Faucett Soda Machines on loan 2000 @ BF 2500 @
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16 Ft. Outside Turkey Cooker with Trailer 1994 $25,000.00 BF $ 25,000.00
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Refrigerator Trailer 1989 $ 5,000.00 BF $ 7,000.00
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9x20 Combination Cooler and Freezer 1997 $11,000.00 Import Beer $ 11,000.00
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Blodget oven 1994 $ 4,000.00 Import Beer $ 5,000.00
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Small Wares on going purchases $ 500.00 Import Beer $ 500.00
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15x15 Walkin Cooler 1994 $ 7,500.00 Tuscany $ 7,500.00
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10 ft. Ice Cream Dipping Freezer 1994 $ 2,500.00 Tuscany $ 4,000.00
-------------------------------------------------------------------------------------------------------------------
4 Ft. Ice Cream Dipping Freezer 1990 $ 500.00 Tuscany $ 2,000.00
-------------------------------------------------------------------------------------------------------------------
15x15 Walkin Freezer 1997 $ 7,500.00 Black Swan $ 7,500.00
-------------------------------------------------------------------------------------------------------------------
1 Blodget Oven 1994 $ 750.00 Black Swan $ 1,500.00
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16 Ft. Turkey Cooker with Trailer 1945 $25,000.00 Black Swan $ 25,000.00
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4 hole compartment Slak 1992 $ 600.00 Black Swan $ 650.00
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TOTAL $ 97,350.00
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Page 1
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EXHIBIT B
Sheet 3
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MAIN KITCHEN LARGE SIGNS Misc. Small Price and Descriptive Signs
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Chicken Wings and Fries 10
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Ravioli and Sauces
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Greek Salads, Gyros and Chicken Salad Pitas
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Turkey Legs
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Ice Cream Cones
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Pizza Pies
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BLACK SWAN BOOTH SIGN Misc. Small Price and Descriptive Signs
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Turkey Legs 3
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Chees Pizzas
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ROAST BEEF BOOTH Misc. Small Price and Descriptive Signs
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Roast Beef, Onions Rings and Bite sized Shrimp 3
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BRAT BOOTH Misc. Small Price and Descriptive Signs
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Brats-Large Sign 1
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TURKEY LOW BOOTH Misc. Small Price and Descriptive Signs
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Turkey Legs 2
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B-B-Q Pork Sandwiches
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ITALIAN ICES-LARGE SIGN
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Page 1
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EXHIBIT C
Concessions
Royal Kitchen
Roast Beef Shop
Brat Shop
Turkey Leg Shop
Black Swan Kitchen, except for the space used by "B&B on a Stick", the southern
most area, 16' deep x 19' wide.
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EXHIBIT D
PROMISSORY NOTE
BORROWER: MARTA AND JIM SELWAY
DBA WILLOWS FARE L.L.C.
235 NORTH MURRAY STREET
SUITE C
BANNING, CA 92220
LENDER: RENAISSANCE ENTERTAINMENT CORPORATION
275 CENTURY CIRCLE
SUITE 102
LOUISVILLE, CO 80027
PRINCIPAL AMOUNT: $150,000.00 INTEREST RATE: 10% DATE: 4/6/00
PROMISE TO PAY: Marta and Jim Selway, DBA Willows Fare (Borrower), promises
to pay to Renaissance Entertainment Corporation (Lender), or order, in lawful
money of the United States of America, the principal amount of One Hundred
Fifty Thousand and 00/100 Dollars ($150,000.00) together with interest of 10%
compounded monthly on the unpaid principal balance from date of signing until
paid in full.
PAYMENT: Borrower will pay this loan in accordance with the attached
amortization schedule. Borrower's first payment is due 8/1/00 and all
subsequent payments are due on the same day of each month thereafter.
Borrowers final payment will be due on 10/31/00 and will be for all
principal, accrued interest and all other applicable fees, costs and charges,
if any, not yet paid. Payments include principal and interest. Interest on
this note is compounded monthly. Borrower will pay Lender at Lender's address
shown above or at such other place Lender may designate in writing.
PREPAYMENT: Borrower may pay without penalty all or a portion of the amount
owed earlier than is due. Early payments will not, unless agreed to by Lender
in writing, relieve Borrower of Borrower's obligation to continue to make
payments under the payment schedule. Rather, they will reduce the principal
balance due and may result in Borrower making fewer payments.
LATE CHARGE: If payment is fifteen (15) days or more late, Borrower will be
charged 5% of the regularly scheduled payment.
DEFAULT: Borrower will be in default if any of the following happens: (a)
Borrower fails to make any payment when due. (b) Borrower breaks any promise
Borrower has made to Lender, or Borrower fails to comply with or to perform
when due any other term, obligation, covenant, or condition contained in this
Note or any agreement related to the Note or in any other agreement of loan
Borrower has with
<PAGE>
Lender. (c) Any representatives or statement made or furnished to Lender by
Borrower or on Borrower's behalf is false or misleading in any material
respect either now or at the time made or furnished. (d) Borrower becomes
insolvent, a receiver is appointed for any part of Borrower's property,
Borrower makes an assignment for the benefit of creditors, or any proceeding
is commenced either by borrower or against Borrower under any bankruptcy or
insolvency laws. (e) Any creditor tries to take any of Borrower's property on
or in which Lender has a lien or security interest. This includes a
garnishment of any of Borrower's accounts with Lender. (f) Any of the events
described in this default section occurs with respect to any guarantor of the
Note. (g) A material adverse change occurs in Borrower's financial condition,
or Lender believes the prospect of payment or performance of the Indebtedness
is impaired. (h) Lender in good faith deems itself insecure.
LENDER'S RIGHTS: Upon default, Lender may declare the entire unpaid
principal balance on this Note and all accrued unpaid interest, together with
all other applicable fees, costs and charges, if any, immediately due and
payable, without notice, and then Borrower will pay that amount. Furthermore,
subject to any limits under applicable law, upon default, Borrower also
agrees to pay Lender's attorneys' fees, and all of Lender's other collection
expenses, whether or not there is a lawsuit and including without limitation
legal expenses for bankruptcy proceedings. This Note shall be governed by,
construed and enforced in accordance with the laws of the state of Colorado.
GENERAL PROVISIONS: Lender may delay or forgo enforcing any of its rights or
remedies under this Note without losing them. Borrower and any other person
who signs, guarantees or endorses this Note, to the extent allowed by law,
waive presentment, demand for payment, protest and notice of dishonor. Upon
any change in the terms of this Note, and unless otherwise expressly stated
in writing, no party who signs this Note, whether as maker, guarantor,
accommodation maker or endorser, shall be released from liability. All
such parties agree that Lender may renew or extend (repeatedly and for any
length of time) this loan, or release any party or guarantor or collateral;
or impair, fail to realize upon or perfect lender's security interest in the
collateral; and take any other action deemed necessary by Lender without
the consent of or notice to anyone. All such parties also agree that Lender
may modify this loan without the consent of or notice to anyone other than
the party with whom the modification is made.
PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF
THIS NOTE. BORROWER AGREES TO THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT
OF A COMPLETED COPY OF THE NOTE.
X /s/ Jim Selway
-------------------------------
X /s/ Marta Selway
-------------------------------
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03/30/2000 Page 1
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Selway Food Concessions-Bristol Renaissance Faire
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Compound Period........: Monthly
Nominal Annual Rate....: 10.000 %
Effective Annual Rate..: 10.471 %
Periodic Rate..........: 0.8333 %
Daily Rate.............: 0.02740 %
CASH FLOW DATA
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Event Start Date Amount Number Period End Date
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1 Loan 04/06/2000 300,000.00 1
2 Payment 04/06/2000 150,000.00 1
3 Payment 08/01/2000 4,834.63 1
4 Payment 09/01/2000 2,490.18 38 Monthly 10/01/2003
5 Payment 10/31/2003 95,604.50 1
AMORTIZATION SCHEDULE - Normal Amortization
Date Payment Interest Principal Balance
----------------------------------------------------------------------------------
Loan 04/06/2000 300,000.00
1 04/06/2000 150,000.00 0.00 150,000.00 150,000.00
2 08/01/2000 4,834.63 4,834.63 0.00 150,000.00
3 09/01/2000 2,490.18 1,250.00 1,240.18 148,759.82
4 10/01/2000 2,490.18 1,239.67 1,250.51 147,509.31
5 11/01/2000 2,490.18 1,218.74 1,271.44 144,976.93
6 12/01/2000 2,490.18 1,218.74 1,271.44 144,976.93
2000 Totals 164,795.35 9,772.28 155,023.07
7 01/01/2001 2,490.18 1,208.14 1,282.04 143,694.89
8 02/01/2001 2,490.18 1,197.46 1,292.72 142,402.17
9 03/01/2001 2,490.18 1,186,68 1,303.50 141,098.67
10 04/01/2001 2,490.18 1,175.82 1,314.36 139,784.31
11 05/01/2001 2,490.18 1,164.87 1,325.31 138,459.00
12 06/01/2001 2,490.18 1,153.83 1,336.35 137,122.65
13 07/01/2001 2,490.18 1,142.69 1,347.49 135,775.16
14 08/01/2001 2,490.18 1,131.46 1,358.72 134,416.44
15 09/01/2001 2,490.18 1,120.14 1,370.04 133,046.40
16 10/01/2001 2,490.18 1,108.72 1,381.46 131,664.94
17 11/01/2001 2,490.18 1,097.21 1,392.97 130,271.97
18 12/01/2001 2,490.18 1,085.60 1,404.58 128,867.39
2001 Totals 29,882.16 13,772.62 16,109.54
19 01/01/2002 2,490.18 1,073.89 1,416.29 127,451.10
20 02/01/2002 2,490.18 1,062.09 1,428.09 126,023.01
21 03/01/2002 2,490.18 1,050.19 1,439.99 124,583.02
22 04/01/2002 2,490.18 1,038.19 1,451.99 123,131.03
23 05/01/2002 2,490.18 1,026.09 1,464.09 121,666.94
24 06/01/2002 2,490.18 1,013.89 1,476.29 120,190.65
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03/30/2000 Page 2
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Selway Food Concessions-Bristol Renaissance Faire
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Date Payment Interest Principal Balance
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25 07/01/2002 2,490.18 1,001.59 1,488.59 118,702.06
26 08/01/2002 2,490.18 989.18 1,501.00 117,201.06
27 09/01/2002 2,490.18 976.68 1,513.50 115,687.56
28 10/01/2002 2,490.18 964.06 1,526.12 114,161.44
29 11/01/2002 2,490.18 951.35 1,538.83 112,622.61
30 12/01/2002 2,490.18 938.52 1,551.66 111,070.95
2002 Totals 29,882.16 12,085.72 17,796.44
31 01/01/2003 2,490.18 925.59 1,564.59 109,506.36
32 02/01/2003 2,490.18 912.55 1,577.63 107,928.73
33 03/01/2003 2,490.18 899.41 1,590.77 106,337.96
34 04/01/2003 2,490.18 886.15 1,604.03 104,733.93
35 05/01/2003 2,490.18 872.78 1,617.40 103,116.53
36 06/01/2003 2,490.18 859.30 1,630.88 101,485.65
37 07/01/2003 2,490.18 845.71 1,644.47 99,841.18
38 08/01/2003 2,490.18 832.01 1,658.17 98,183.01
39 09/01/2003 2,490.18 818.19 1,671.99 96,511.02
40 10/01/2003 2,490.18 804.26 1,685.92 94,625.10
41 10/31/2003 95,604.50 779.40 94,825.10 0.00
2003 Totals 120,506.30 9,435.35 111,070.95
Grand Totals 345,065.97 45,065.97 300,000.00
<PAGE>
BRISTOL RENAISSANCE FAIRE
CONCESSION AGREEMENT
AGREEMENT made this 6 day of April, 2000, by and between RENAISSANCE
ENTERTAINMENT CORPORATION dba Bristol Renaissance Faire (BRF) and WILLOWS
FARE L.L.C., CONCESSIONAIRE.
WITNESSETH:
WHEREAS, CONCESSIONAIRE desires to participate in the Bristol
Renaissance Faire, "the Faire Season", and
WHEREAS, BRF has agreed to accept CONCESSIONAIRE as a food vendor for
the Faire Season, and
WHEREAS, CONCESSIONAIRE agrees to lease space from BRF to sell its
products in conformance with this Agreement.
NOW THEREFORE, the parties do agree as follows:
1. FEES, INVENTORIES AND OVERRIDES. CONCESSIONAIRE shall pay to BRF the
Product fee plus percentage override set forth on Schedule "A" attached to
this Agreement; verify inventories for product control item by 12:00 Noon on
Tuesday of each week; submit a report of gross sales of their products by
12:00 Noon on Monday of each week; and pay the gross sales percentage
override due BRF for the Faire Season within five (5) days from the last day
of the Faire.
2. PRE-APPROVALS. Thirty (30) days prior to the Faire Season,
CONCESSIONAIRE shall furnish to BRF and request approval of a sample of their
products and their sales receipts, of their preparation techniques and of the
cost of their products to the public.
3. SALES TAX. CONCESSIONAIRE SHALL HOLD AND DISPLAY A VALID Wisconsin
Sellers Permit in accordance with Wisconsin law prior to being open for
business.
4. REPRESENTATION BY CONCESSIONAIRE. BRF retains the right to cancel
this Agreement (subject to provisions in paragraph 14(b)), if BRF
determines, in its sole discretion, that CONCESSIONAIRE has violated any of
the Rules or Regulations of BRF or that CONCESSIONAIRE has made any
misrepresentation to BRF or CONCESSIONAIRE has made any representation to BRF
that is not true, including, but not limited to, not disclosing a product that
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CONCESSIONAIRE presents for sale during the Faire Season. A copy of the BRF
Rules and Regulations are attached to this Agreement.
5. NO LIABILITY. BRF shall not be responsible for any losses suffered by
CONCESSIONAIRE due to theft, vandalism, fire, storm or any other "acts of
nature".
6. CONSTRUCTION, CODE, ETC. CONCESSIONAIRE agrees to abide by all
applicable building codes in the construction or improvement of their shop
and to abide by all Wisconsin Department of agriculture, Trade and Consumer
Protection Division or Health Department rules and regulations as the same
may apply to the preparation and sales of their products(s). If for any
reason the Wisconsin Department of Health or any other governing body or
agency shall not allow CONCESSIONAIRE to open or remain open for business,
this Agreement shall be null and void as of that date, and all fees paid to
BRF shall be forfeited.
7. PRODUCT SELECTION. BRF reserves the right to assign food products for
any year following the current Faire year. If BRF chooses not to permit
CONCESSIONAIRE to return the following Faire Season, BRF shall notify
CONCESSIONAIRE of such decision by Certified Mail as soon as is practicable.
8. SHOPS; REAL PROPERTY. The shop used or constructed by CONCESSIONAIRE
shall be considered real property and the property of BRF. CONCESSIONAIRE
shall have the right to occupy such shop during the term of this Agreement
and any renewals by BRF, subject to the terms of this Agreement. All personal
property of CONCESSIONAIRE shall remain the property of CONCESSIONAIRE,
CONCESSIONAIRE shall retain all rights to upgrade and improve the shop,
provided however, that plans for all improvements shall be subject to
approval by BRF. If CONCESSIONAIRE chooses not to return to the Faire, or if
the CONCESSIONAIRE is not invited back to the Faire, then CONCESSIONAIRE
shall have the right to assign their interest in their shop to another
vendor, provided however, that such vendor is approved by BRF. If
CONCESSIONAIRE shall assign his interest in such shop to a third person
approved by BRF, then CONCESSIONAIRE shall forfeit all prepaid fees paid BRF
and render an accounting to BRF of all percentage fees and pay such fees
prior to any such assignment. If at any time CONCESSIONAIRE has no paid in
full all fees due BRF under the terms of this AGREEMENT, then CONCESSIONAIRE
shall lose all rights to assign their interest in their shop to third persons.
<PAGE>
9. CONCESSIONAIRE EMPLOYEES. All CONCESSIONAIRE employees shall wear
costumes in accordance with Faire policy. All employees shall be dressed in
authentic costuming of the peasant class of the Renaissance period when
visible to the public, and always subject to the approval of BRF.
10. DISCLAIMER. CONCESSIONAIRE shall not use the Bristol Renaissance
Faire address for billing purposes at any time. Billing for services,
products and fees shall be directed to CONCESSIONAIRE'S business or personal
address.
11. CONCESSIONAIRE EMPLOYEES. All CONCESSIONAIRE employees under the age
of 18 years shall have valid work permits on file with the Wisconsin
Department of Industry, Labor and Human Relations. CONCESSIONAIRES and their
employees shall comply with all applicable state and federal laws, including
Federal and State Child Labor Laws.
12. ENVIRONMENT. BRF has made a firm commitment to the ecological
balance and its preservation. CONCESSIONAIRE shall not operate their shop in
a way that contributes to the deterioration of the grounds, i.e. improper
disposal of grease, garbage, paper, canned and bottled goods, etc.
CONCESSIONAIRE shall fully cooperate with BRF's recycling program.
CONCESSIONAIRE shall be responsible for the collecting and disposing of all
waste created in the preparation of their products. CONCESSIONAIRE shall
separate bottles, cans and paper goods for proper recycling. Additional
information regarding environmentally safe products and BRF policy will be
distributed to CONCESSIONAIRE. CONCESSIONAIRE shall provide their own garbage
dumpster for the duration of the Faire Season.
13. PRICING DISPLAY. CONCESSIONAIRE shall display their prices for all
food products in a highly visible and legible manner and consistent with
faire Signing Policy.
14. TERM/TERMINATION. (a) Subject to the provisions of subparagraph (b)
and (c) below, this Agreement shall be effective as of the date hereof, and
shall continue for a term of seven (7) years (the "Initial Term"). Following
the Initial Term, this Agreement shall be renewed upon agreement by both
parties unless at least ninety (90) days prior to the termination of the
Initial Term either party shall have notified the other in writing of its
decision not to renew this agreement.
(b) If there is a material default in the performance of the terms
and conditions of this agreement, and such default shall continue for a
period of thirty (30) days after receipt by the defaulting party of written
notice (setting forth in detail the nature of such default), then this
agreement shall terminate as of the thirty-first (31st) day following the
receipt of such written notice.
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(c) If there is a material default in the promissory note
(Exhibit D), then this agreement shall become null and void.
15. HOLD HARMLESS. CONCESSIONAIRE agrees to indemnify and hold BRF
harmless from any and all liability, expenses, losses or damage, and to
provide a defense or to reimburse any costs which BRF may incur if it
provides its own defense (including, but not limited to, reasonable
attorney's fees and costs) in connection with any demand, claims or legal
action, threatened or actual, including any third party claims asserted
against BRF which arise wholly or in part our of CONCESSIONAIRE'S
participation with the Faire.
16. LIABILITY INSURANCE. CONCESSIONAIRE agrees to carry product
liability insurance, to name RENAISSANCE ENTERTAINMENT CORPORATION dba
Bristol Renaissance Faire as a co-insured, and to provide evidence of such
insurance prior to the Faire opening.
17. GUARANTEES. The undersigned hereby personally guarantees all of
the obligations of CONCESSIONAIRE under this Agreement.
DATED THE DAY AND YEAR ABOVE FIRST WRITTEN.
RENAISSANCE ENTERTAINMENT CORPORATION
dba Bristol Renaissance Faire
/s/ James Selway Marta Selway [ILLEGIBLE] J. Stanley Gilbert
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James and Marta Selway Linda McFeters
Willow's Faire LLC General Manager
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235 North Murray Street, Suite C, Banning, Ca. 92220
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Address and Phone Number
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SCHEDULE 'A'
FEE STRUCTURE*
A. Minimum deposit of $0 applied to fifteen percent (15%) of gross sales.
Minimum deposit is two-thirds (2/3) of fifteen percent (15%) of previous
years' gross sales.
B. Dumpster usage: (i) Black Swan Kitchen and Turkey shops are shared
expenses at $250.00 each, total $500.00.
(ii) Main (Royal) Kitchen, Brat and Roast Beef booth
shops require CONCESSIONAIRE to establish separate contract.
C. Holding Tank usage: (i) Black Swan Kitchen, Brat, and Turkey shops
are shared expenses at $200.00 each, total $600.00.
(ii) Main (Royal) Kitchen requires CONCESSIONAIRE to
establish separate contract.
D. Electric usage: Main (Royal) Kitchen, Black Swan Kitchen, Brat, Roast
Beef and Turkey shops total $1,500.00.
E. List products and retail prices which have been approved:
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Please transmit your check in the amount of $0, made payable to the Bristol
Renaissance Faire on or before March 31, 2000, together with a duly executed
copy of the Agreement to: Steve Schultz
Bristol Renaissance Faire
12550 120th Avenue
Kenosha, WI 53412-7337
Upon acceptance by BRF, a copy of the counter-signed Agreement will be
returned to you.
*SUBJECT TO CHANGE
Minimum deposit waived for 2000 only. 4/6/00
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2000 BRISTOL RENAISSANCE FAIRE
GENERAL INFORMATION AND RULES AND REGULATIONS
1. All shops shall be open RAIN OR SHINE AT 10:00 A.M. EACH FAIRE DAY.
2. ABSOLUTELY NO PETS ARE ALLOWED ON THE SITE.
3. CONCESSIONAIRE shall not remove any trees, bushes or plants from the
Faire site.
4. Living trees shall not be utilized in the construction or repair of
shops. Use of nails, lag bolts, etc. in living trees is prohibited.
5. No one shall be allowed to drive onto the site if, in the management's
opinion, it is too wet, or at any time between the hours of 9:30 A.M. and
7:30 P.M. on Faire dates. In the event of a product emergency, product
shall be left in the security area.
6. Price fixing, overpricing or under-pricing will not be allowed. All
pricing will be approved by BRF.
7. All prices for food will be openly and properly displayed for patrons in
accordance with Faire policy.
8. CONCESSIONAIRE will be in violation of this Agreement if, in the opinion
of BRF, it continually runs out of product before Faire closing hours.
9. All refuse within, near or around a CONCESSIONAIRE'S shop will be picked
up and placed in CONCESSIONAIRE'S dumpster. Shop dumpsters will be in
place by June 10, 2000.
10. Used oil, charcoal and equipment will be removed from the site on a daily
basis and will not be placed in CONCESSIONAIRE'S dumpsters. CONCESSIONAIRE
shall dispose of these items off site at an appropriate facility.
11. All CONCESSIONAIRE employees shall wear proper costumed attire in
accordance with the Renaissance Period and speak the dialogue of the
period. Anachronisms such as watches, sunglasses, tennis shoes, etc.
will not be worn.
12. All shops will be maintained in good order and repair including fresh
paint and any other maintenance needed to continually beautify and
develop the Faire site. All building plans and paint pallets will be
submitted to Linda McFeters, in detail for approval before painting or
construction begins.
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13. CONCESSIONAIRE shall provide to BRF the name of the person to contact for
emergency purposes whose telephone number shall be securely attached to
the back door of the shop by opening day.
14. The undersigned CONCESSIONAIRE hereby acknowledges receipt of a copy of
these RULES and REGULATIONS this 6th day of April , 2000, and agrees
to abide by the same.
/s/ James Selway /s/ Marta Selway /s/ J. S. Gilbert J. Stanley Gilbert
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CONCESSIONAIRE Linda McFeters, General Manager