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Memorandum of Understanding

General Target Timetable

8/3/98Padres execute MOU.
8/4/98City Council approves ballot measure for submission to voters.
10/1/98Terms agreed for extension at Qualcomm Stadium.
11/3/98Ballpark Project vote.
12/3/99Certification Date.
1/1/99Budget Estimates for Ballpark, Land, Public Parking and Infrastructure finalized.
2/1/99Finalize Baseline Ballpark Program and minimum design standards.
2/14/99Finalize estimate of property/possessory interest tax and Transient Occupancy Tax revenue for Ballpark and Phase 1.
3/15/99City comments on Final Baseline Ballpark Program and minimum design standards.
4/1/99Finalize binding agreement with Padres, Developer and/or others for Phase 1 and receive assurances for Substitute Ancillary Development (if any) and 1,000 room Convention Center Expansion hotel.
4/1/99Receive commitments for Other Required Financing Investments ($21 million).
4/1/99Receive Padres first priority lien on National League Franchise.
4/1/99Execution of DDA or DA for Phase 1.
4/1/99Begin land acquisition.
TBDFinalize EIR and PDO amendment (if any).
TBDBallpark groundbreaking.
TBDExecute City financing - 45 days after latter of certification of EIR, or adoption of PDO amendment.
6/1/00Padres deposit first of eight (8) quarterly payments - subject to acceleration.
2/1/02Substantial Completion of Ballpark Project.
3/1/02Operational start-up of Ballpark.
3/31/02Substantial Completion and Certificate of Occupancy for Phase 1.
4/1/02Opening Date.
10/1/02Deposit Ballpark construction savings (if any), up to $5 million, into Capital Expenditure Reserve Fund.

ATTACHMENT E

Memorandum of Understanding
Attachments:
Attachment A - Map of Infrastructure Improvements
Attachment A1 - Infrastructure Expense Summary
Attachment A2 - Roadway Improvement Detail
Attachment B - Land Acquisition Parcels
Attachment B1 - Land Acquisition Summary
Attachment B2 - Summary of 5,000 Parking Spaces
Attachment C - Hotel Credit Zone
Attachment C1 - Substitute Ancillary Retail Development
Attachment D - RFP/RFQ Zone
*Attachment E - General Target Timetable
Attachment F - Padres Protection of Revenues
Attachment G - Ballpark Protection Zone