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L UV'LNrV 11U'UUy M;ML VWLCUF,1+cl U M. UUU W aur. a •vFw-J ... ..... ..... <br />naysr to neenil nr rP_Slcf the same. and further agrees that Licensee's Use and occupancy <br />(c) Licensee hereby acirnowledges that title to the Property is vested in Licensor and agrees <br />never to assail or resist the same, and further agrees that Licensee's use and occupancy <br />of License Area shall be referable solely to the permission herein given. <br />(d) As a covenant to this Agreement, Licensee shall adhere to and comply with all <br />responsibilities enumerated in RFT attached hereto and incorporated <br />herein. <br />Section 1.02 Term <br />(a) The term of the Agreement for the License Area ("rem') shall be for ONE (l) year(s) <br />commencing on ("Commencement Date'). <br />(optional) At the Licensoes sole discretion, Licensee may be granted extension of this <br />Agreement, for TWO (2) additional terms ("Renewal Term") of ONE (1) year each. <br />Each Renewal Term shall be on the same teams and conditions set forth herein. The <br />Term of the Agreement shall not automatically be extended for each successive <br />Renewal Term. This Agreement shall be irrevocable during its stated term, except as <br />otherwise specifically set forth in this Agreement. <br />(b) The Licensee or Licensor must inform each other, in writing, of its interest not to extend <br />the term of the Agreement. Licensor may terminate this Agreement, at will, upon <br />fifteen days (15) written notice if there is a violation of any of the terms contained <br />herein. <br />Section 1.03 Compensation/Consideration <br />made up of <br />31 `1 1W .. 11:. <br />("Compensation") for use of the License Area Said amount is <br />as license fee with an additional S fee. <br />Compensation will be due upon A late charge of ten percent <br />(10%) shall be applied after any payment hereunder is due but unpaid In addition, one <br />and a half percent (2 %2%.) interest per month shall be added for each month that <br />payment hereunder is due but unpaid. <br />Section 1.O4 Security Deposit <br />Y3,1"> ,I, 1.311 <br />additional sun of as a seciuity� 71he deposit shall be held by LicensDr, <br />111 1 liabildy for 1 - - 11 , 11 faithful , 31 1'1,1✓II Y" 1Licensee1all die:t11 <br />Yi Y1 .11 B .+1.1 YI 1.11 ! 1 1 1 11 L iill.- I 1 1 31 .il.t 1 > '1 ,1 .1 t 31 i 1 1 • II :111 1 <br />11 Ygll. i. l+ 1 .11 wl\Y 11 I'. �' F! .I11 1 �U111 11. i+ll l 1 EIrI'3 1 i. , 11 <br />1 :• Plf a i l SLY i. 1 Illi i1 11 1 3111 IJ conditions 1 <br />111 L rill 31 I 1 L311� <br />1 1 11 - <br />W <br />