Laserfiche WebLink
handling, such as packing labor and materials, professional inventory company <br />fees, security, storage and transportation, will be reimbursed by Tenant to <br />Benjamin Kim upon receipt of the initial settlement payment described in <br />Section l (b). <br />3. Liauor License <br />Tenant agrees to transfer or assign liquor license 21-390015 to Benjamin Kim. <br />4. Failure to Vacate the existing building and other improvements from the Property <br />a. Tenant shall vacate the Property not later than October 31, 2008 ("Vacate <br />Date"). Tenant shall be liable for payment to City of a rental fee of TWO <br />HUNDRED AND NO/100 DOLLARS ($200.00) for each and every day <br />Tenant remains in possession of the Property beyond the Vacate Date, unless <br />a written request for an extension, not to exceed sixty (60) days, has been <br />submitted and subsequently approved by the City prior to the Vacate Date. <br />Such request will not be unreasonably withheld for circumstances beyond <br />control of Tenant which prevent occupancy of a relocation site. Any rental <br />fees charged shall be proportionally deducted as an offset from the final <br />payment to Tenant as described in section 1(c) above. Tenant may unilaterally <br />choose to move prior to Vacate Date. <br />b. As of the Vacate Date, if Tenant has not removed all of its inventory, moveable <br />personal property from the existing building(s) and other improvements to the <br />Property, Tenant authorizes City to remove said items at Tenant's sole cost and <br />expense, which expense shall be deducted as an offset from the final payment as <br />described in section 1(c), above. <br />c. City owns the Property and Tenant will be obligated to pay monthly rent in the <br />amount of ONE THOUSAND TWO HUNDRED AND NO/100 DOLLARS <br />($1,200.00) beginning August 1, 2007 through May 31, 2008 (Vacate Date). <br />Tenant shall adhere to the terms of the Non-Exclusive License Agreement <br />(Attachment A). Any delinquent rent will be deducted from the final payment <br />described in section 1(c) above. Tenant will not be obligated to pay monthly <br />rent beyond May 31, 2008. <br />Release <br />a. Tenant, on behalf of itself, its agents, assigns and related entities, agrees to <br />indemnify, fully release, acquit and discharge City, and the officers, directors, <br />employees, attorneys, accountants, other professionals, insurers and agents of <br />City (collectively "Agents") and all entities related to City, from any and all rights, <br />claims, interests, demands, actions or causes of action which Tenant now has or <br />may in the future have against City arising from the acquisition of the Property, <br />including, but not limited to, trade fixtures, furniture and equipment, leasehold <br />Acquisition Settlement Agreement <br />3of14 <br />25T-6 <br />