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Transportes Intercalifornias 1
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Transportes Intercalifornias 1
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Last modified
3/25/2024 2:40:25 PM
Creation date
5/9/2003 4:00:20 PM
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Contracts
Company Name
Transportes Intercalifornias
Contract #
A-2003-010
Agency
Community Development
Council Approval Date
1/21/2003
Expiration Date
10/1/2006
Insurance Exp Date
1/15/2006
Destruction Year
2014
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DO NOT RECORD <br />voided, reduced in coverage or in limits, or modified without thirty (30) days <br />prior written notice of Licensor; and shall state as follows: <br />"The above detailed coverage is not subject to any deductible or <br />self -insured retention, or any other form of similar type limitation. " <br />Licensee shall maintain the foregoing insurance coverages in force throughout the term of <br />this Agreement. The requirement for carrying the foregoing insurance coverages shall <br />not derogate from the provisions for indemnification of Licensor by Licensee under the <br />Agreement. Licensor or its representatives shall at all times have the right to demand the <br />original or a copy of all these policies of insurance, which Licensee shall provide within <br />fifteen (15) days of Licensor's request. <br />ARTICLE 5 — TERMINATION AND DEFAULT <br />Section 5.01 Termination in the Event of Casualty or Condemnation <br />(a) In the event of any damage, destruction or condemnation of the License <br />Area, which renders the License Area unusable or inoperable in Licensor's <br />judgment, Licensee shall have the right, but not the obligation, to terminate <br />the Agreement with respect to the subject License Area by giving written <br />notice to Licensor within thirty (30) days after such damage, destruction or <br />condemnation. If by virtue of such casualty or condemnation, Licensor <br />determines that the License Area is no longer adequate for Licensee to <br />continue its operations, or any repairs to the License Area have not been <br />completed or cannot reasonably be completed within sixty (60) days from the <br />date of the damage, destruction or condemnation. This License Agreement <br />will become null and void. <br />(b) In the event of condemnation, unless Licensee is allowed by the condemning <br />authority to continue its operations in the License Area, this Agreement shall <br />terminate as of the date title to the Property vests in the condemning <br />authority or Licensee is required to cease its operations, whichever is earlier. <br />If any property described herein or hereinafter added hereto is taken in <br />eminent domain, the entire award shall be paid to Licensor. <br />Section 5.02 Termination <br />(a) This Agreement may be terminated on thirty (30) days prior written notice <br />as follows: (1) by either party upon a default of any covenant or term <br />hereof by the other party, which default is not cured within sixty (60) days <br />of receipt of written notice of default, provided that the grace period for <br />any monetary default is ten (10) days from receipt of notice, or (2) by <br />Licensee if Licensee is unable to occupy and utilize the License Area due <br />to any action of theInterstate Commerce Commission or the Department of <br />Transportation. <br />
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