Laserfiche WebLink
<br />, <br /> <br />1/6/06 DO NOT RECORD <br /> <br />purposes to which it presently is and may, at the option of Licensor, be <br />devoted. Licensee undertakes and agrees to use the License Area and to <br />exercise this License at all times in such manner as will not unreasonably <br />interfere with the full use and enjoyment of the Property by Licensor. <br /> <br />(c) Licensee hereby acknowledges that title to the Property is vested in <br />Licensor and agrees never to assail or resist the same, and further agrees <br />that Licensee's use and occupancy of License Area shall be referable <br />solely to the permission herein given. <br /> <br />(d) As a covenant to this Agreement, Licensee shall adhere to and comply <br />with all responsibilities enumerated in Rider I, attached hereto and <br />incorporated herein. <br /> <br />Section 1.02 Term <br /> <br />(a) The term of the Agreement for the License Area ("Term") shall be FIVE <br />years (5) commencing on Julv I, 2005 ("Commencement Date") with <br />three (3) one-year extensions with the same terms and conditions <br />contained herein, upon agreement of both parties. Earlier termination of <br />this License shall be in conformance with Section 5.02. <br /> <br />(b) Licensee may terminate this Agreement by giving thirty (30) days written <br />notice to Licensor that Licensee's rail service will either relocate or <br />terminate. <br /> <br />Section 1.03 Compensation/Consideration <br /> <br />(a) Upon the Commencement Date, Licensee shall pay to Licensor monthly <br />compensation in the amount of $2600.00 per month ("Compensation") for <br />use of the License Area. Compensation will be due upon execution of this <br />Agreement and thereafter on or before the lOth of each month, payable to <br />"The City of Santa Ana" and remitted to: The Depot at Santa Ana, 1000 <br />East Santa Ana Blvd., Suite 108, Santa Ana, CA 9270 I. <br /> <br />Licensee's monthly compensation payments shall be subject to an <br />automatic annual adjustment of I % per year; payable the 2nd and 4th years <br />of the license term. Should the options be exercised, the annual <br />adjustments shall continue at I % per year, and the increases shall be paid <br />the 6th and 8th years of the extended term. Said adjustments shall not <br />cause the Compensation to exceed the then current market rent for similar <br />leased space of a similar size and location. <br /> <br />(b) For any Renewal Term beyond the Term, Licensee shall pay the then <br />current compensation, increased by three percent (3%) annually. <br /> <br />2 <br />