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<br />Equipment solely to collect, recycle and/or dispose of Solid Waste <br />generated within the CITY for which it is responsible pursuant to <br />this Agreement. <br /> <br />(e) OPTION TO PURCHASE: At such time as the C.O.P.s used to <br />finance the Licensed Equipment are paid in full or otherwise <br />satisfied or demised, the CONTRACTOR shall have a ninety (90) day <br />option during which it may purchase the Licensed Equipment from the <br />CITY for the then fair market value thereof. Exercise of this <br />option shall be made by written notice from the CONTRACTOR to the <br />Executive Director. CITY and CONTRACTOR shall, within thirty (30) <br />days after such exercise, each select a licensed appraiser in the <br />field to determine said fair market yalue. The appraisers shall <br />submit their appraisals to both parties within thirty (30) days <br />after their selection, and the average between their appraised <br />values shall be deemed to be the fair market value. If CONTRACTOR <br />desires to purchase the Licensed Equipment, it must tender the full <br />fair market value to the CITY within forty five (45) days after <br />both appraisers have delivered their appraisals. If either <br />appraiser fails to act within the terms of this option or if either <br />party hereto fails to select an appraiser, the determination of the <br />sole appraiser shall be binding. The CONTRACTOR shall bear the <br />expense of both appraisers. The CITY agrees that if CONTRACTOR <br />elects to exercise this option it will, after tender of the full <br />purchase consideration, do all things proper and necessary to <br />transfer full title, free and clear of all liens and encumbrances, <br />to the Licensed Equipment to CONTRACTOR or its assignors. Should <br />CONTRACTOR not exercise this option to purchase the Licensed <br />Equipment then, at the termination of the license granted herein, <br />CONTRACTOR shall surrender possession of the Licensed Equipment to <br />CITY in good order and repair to the satisfaction of CITY, normal <br />wear and tear excepted. <br /> <br />12. <br /> <br />COLLECTION POINTS AND REOUIREMENTS: <br /> <br />(a) CONTRACTOR shall not be required to collect Solid Waste <br />from any Curbside Service unit unless the same is placed on the <br />curb along a public or private street, or along an alley having <br />street access at both ends, and is placed in Solid Waste collection <br />and Recycling plastic carts provided to the Curbside Service unit <br />by CONTRACTOR and is prepared for collection in a manner prescribed <br />by the CITY'S regulations covering the same. Under no <br />circumstances shall CONTRACTOR be required to pick up and collect <br />any material or matter which is not Solid Waste as defined in this <br />Agreement, or to pick up and collect any Solid Waste from Curbside <br />Service units which does not comply with the following standards <br />and limitations: <br /> <br />(1) All Solid Waste shall be placed in the Solid Waste <br />collection and Recycling plastic carts provided by CONTRACTOR to <br />each Curbside Service unit pursuant to the following: <br /> <br />11 <br />