TRES ESTRELLAS DE ORO 1 - 2003 - Laserfiche WebLink

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DO NOT RECORD (c) (d) 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. 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. As a covenant to this Agreement, Licensee shall adhere to and comply with all responsibilities enumerated in Rider I, attached hereto and incorporated herein. Section 1.02 (b) Term The term of the Agreement for the Licel~se Area ("Term") shall be for THREE (3) years commencing on _ ,'~?~ ("Commencement Date"). At the L-icensor/s sole discretion, Licensee may be granted extension of this Agreement, for TWO (2) additional terms ("Renewal Term") of ONE (1) year each. Each Renewal Term shall be on the same terms and conditions set forth herein. The Term of the Agreement shall not automatically be extended for each successive Renewal Term. Notification in writing of Licensor or Licensee's intention not to extend must be given at least three (3) months prior to the expiration of the original Term or Renewal Term. This Agreement shall be irrevocable during its stated term, except as otherwise specifically set forth in this Agreement. The Licensee or Licensor must inform each other, in writing, of its interest not to extend the term of the Agreement. Licensor may terminate this Agreement, at will, upon fifteen days (15) written notice if there is a violation of any of the terms contained herein. Section 1.03 Compensation/Consideration (a) Upon the Commencement Date, Licensee shall pay to Licensor compensation in the amount of $5,000.00 per month ("Compensation") for use of the License Area. Said amount is made up of $3800.00 as monthly license fee with an additional $1200.00 monthly common area maintenance payment. Compensation will be due upon execution of this Agreement and thereafter on the 1st day of each month and considered late on the 5th day of the month and subject to termination and automatic expulsion 7 days from the due date. Compensation is 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 often percent (10%) shall be applied beginning the 2nd day of the month 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. 2