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DO NOT RECORD 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 for FIVE (5) years commencing on October 1, 2001 ("Commencement Date"). At the Licensor's sole discretion, Licensee may be granted extension of this Agreement, for TWO (2) additional terms ("Renewal Term") of THREE (3) years 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. Extension pf this Agreement will be at the discretion of the Community Development Director or his designee. (b) 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 monthly compensation in the amount of $6,185.25 per month (`Compensation") for use of the License Area. Said amount is made up of $3,266.05 as monthly license fee with an additional $2,919.20 monthly common area maintenance payment. 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 ''/z%) interest per month shall be added for each month that payment hereunder is due but unpaid. (b) For any Renewal Term, Licensee shall pay the then current compensation, increased by fifteen percent (15%).