A WHITE AND YELLOW CAB INC. - 2015

Home Browse Search

DO NOT RECORD (b) The right and permission of Licensee is subordinate to the prior and paramount right of Licensor to use the Property in its entirety for public purposes to which it presently is and may, at the option of Licensor, be devoted. Licensee undertakes and agrees to use the License Area and to 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. Section 1.02 Term (a) The term of the Agreement for the License Area ( "Term ") shall be one (1) year commencing on September 1, 2015 ( "Commencement Date ") with three (3), one (1) -year extensions which are exercisable at Licensee's sole discretion. Earlier termination of this License shall be in conformance with Section 5.02. Section 1.03 Compensation /Consideration (a) Upon the Commencement Date, Licensee shall pay to Licensor monthly compensation in the amount of $3,025.00 per month ( "Compensation") for use of the License Area. Compensation will be due upon execution of this Agreement and thereafter on or before the 15th of each month, payable to "The City of Santa Ana" and remitted to: City of Santa Ana M- 13, 20 Civic Center Plaza, PO Box 1988, Santa Ana, CA 92702. A late charge of ten percent (10 %) shall be applied to any payment hereunder due but unpaid. (b) Licensee's monthly compensation payments shall be subject to an automatic annual adjustment of two and one -half percent (2.5 %) per year or CPI - Los Angeles — Riverside — Orange County, All Urban Consumers, whichever is greater, throughout the life of the Agreement. (c) For any Renewal Term, Licensee shall pay the then current compensation, increased by two and one -half percent (2.5 %) or CPI, whichever is greater. (d) Any holding over after the expiration of the Term or Renewed Term, with the consent of Licensor, shall be construed to be an extension from month to month and shall otherwise be consistent with the terms and conditions contained herein.