A WHITE & YELLOW CAB, INC 1 - 2005

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(b) The right and permission of Licensee is subordinate to the prior and paramount right of Licensor to use the Property in its entirety for public purposes to which it presently is and may, at the option of Licensor, be devoted. Licensee undertakes and agrees to use the License Area and to exercise this License at all times in such manner as will not unreasonably interfere with the full use and enjoyment of the Property by Licensor. (c) Licensee hereby acknowledges that title to the Property is vested in Licensor and agrees never to assail or resist the same, and further agrees that Licensee's use and occupancy of License Area shall be referable solely to the permission herein given. (d) As a covenant to this Agreement, Licensee shall adhere to and comply with all responsibilities enumerated in Rider 1, attached hereto and incorporated herein. Section 1.02 Term (a) The term of the Agreement for the License Area ( "Term ") shall be years C_) commencing on ( "Commencement Date "). At the Licensor's sole discretion, Licensee may be granted extension of this Agreement. Earlier termination of this License shall be in conformance with Section 5.02. (b) The Licensee or Licensor must inform each other, in writing, of its interest not to extend the term of the Agreement. Section 1.03 Compensation/Consideration (a) Upon the Commencement Date, Licensee shall pay to Licensor monthly compensation in the amount of $ 5, 51 1 per month ( "Compensation ") for use of the License Area. Compensation will be due upon execution of this Agreement and thereafter on or before the 10`h of each month, payable to "The City of Santa Ana" and remitted to: The Depot at Santa Ana, 1000 East Santa Ana Blvd., Suite 108, Santa Ana, CA 92701. A late charge of ten percent (10 %) shall be applied after any payment hereunder is due but unpaid. In addition, one and a half percent (1 %2 %) interest per month shall be added for each month that payment hereunder is due but unpaid. (b) Licensee's monthly compensation payments shall be subject to an automatic annual adjustment which will be due and payable the 3" and 3° years of the license term. Said adjustment shall be 1.5% per year as follows: t yr.= $ S, S 1 2 yr. = $_ S, S'ct 3 , 3 yr. = $ S -1, -1 (c) For any Renewal Term, Licensee shall pay the then current compensation, increased by three percent (3 %). (d) Any holding over after the expiration of the Term or Renewed Term, with the consent of Licensor, shall be construed to be an extension from month to month at two (2) times the compensation herein specified and shall otherwise be consistent with the conditions herein specified, so far as applicable.