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TO:Board of Directorate: October 11, 2023FROM:James M. Lewinsky, CEO/Executive DirectorSUBJECT:Amendments to Northern Indiana Commuter Transportation District (NIC TD) AgreementsRECOMMENDATION Board
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01
Gather all necessary information such as names of parties involved, date of agreement, terms and conditions, etc.
02
Review the agreement thoroughly to understand the obligations of each party.
03
Fill in all the blanks and fields with accurate information.
04
Have both parties sign the agreement in presence of witnesses if required.
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Make copies of the executed agreement for each party.

Who needs fixed facility agreement with?

01
Businesses entering into a long-term contract with another party to secure a fixed facility for operations.
02
Landlords leasing out a fixed property to tenants for a specified period of time.
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A fixed facility agreement is a legal contract between parties that establishes terms and conditions for the use of a specific facility or equipment, typically in the context of financing or leasing.
Entities or individuals who enter into a fixed facility agreement, typically lenders, borrowers, or businesses utilizing the facility, are required to file it.
To fill out a fixed facility agreement, parties should provide information such as the names of the parties involved, description of the facility or equipment, terms of use, payment details, and any other contractual obligations.
The purpose of a fixed facility agreement is to outline the rights and responsibilities of the parties concerning the use, management, and financial aspects of the facility or equipment.
Information that must be reported includes the parties' names, facility description, duration of the agreement, payment terms, and specific conditions or limitations related to the use of the facility.
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