BOWERS MUSEUM - 2001 AMENDED & OPERATING AGMT

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1P ARTICLE 2 LICENSE FOR USE AND OCCUPANCY OF THE PREMISES § 2.01 Grant of T .icense City hereby grants to the Corporation, and the Corporation hereby accepts, a license for the occupancy and use of the Premises during the Term for the uses and purposes set forth, in this Agreement and subject to the terms and conditions of this Agreement. §2.02 Option to Extend Term The Corporation is hereby granted the option to extend the Term for two (2) ten (10) year periods following expiration of the initial term or any prior extended term, by giving notice to the City not less than one (1) year or more than two (2) years before expiration of the term to be extended, as applicable; provided however, that such notice shall be of no force or effect if at the time of notice the Corporation is in material default of this Agreement and such default is continuing. § 2.03 Additions and Alterations Throughout the Term, Corporation shall make no substantial additions or alterations to the buildings and grounds except after providing the City Manager with an opportunity to review and comment upon the plans for such additions or alterations. The retention and enhancement of the current physical character and appearance of the buildings and grounds shall be a primary objective in determining the propriety of any proposed addition or alteration. § 2.04 Personal Property The City and the Corporation agree that all personal property including, but not limited to, furnishings, equipment, exhibit materials and collection materials shall become the property of the Corporation for its use for purposes of this Agreement. The Corporation shall not sell or otherwise dispose of any such items other than in the ordinary course of business and consistent with good museum practices and procedures regarding de-accession. The Corporation shall maintain such property in good condition, reasonable wear and tear excepted. Upon termination of this Agreement for whatever reason whatsoever, all right title and interest of the Corporation in all property referenced in this Section, including all items of personal property donated or loaned to the Corporation for museum purposes shall be turned over and become the property of the City, subject to such loan or trust agreements and/or conditions affecting the Corporation's ownership or use of such property. The terms and conditions of any such donation or loan shall prevail over any inconsistent term or condition of this Agreement. 6