25H - AGMT - OCTA SARTC - Laserfiche WebLink

Home Browse Search

DO NOT RECORD 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 The term of the Agreement for the License Area ("Term") shall be Five Years (5) commencing on the date of execution hereof ("Commencement Date"), At the Licensoe's sole discretion, Licensee may be granted extension of this Agreement, by and through 5 one-year options to extend the term. Earlier termination of this License shall be in conformance with Section 5.02, Section 1,03 Consideration/Maintenance Fee (a) Licensee shall pay to Licensor an annual Maintenance Fee for the maintenance and upkeep of the License Area in the amount of One Thousand Six Hundred Fifty Dollars ($1,650.00) payable in one full payment upon execution of this Agreement, and thereafter, on each anniversary date of this Agreement. Licensee may choose to pay said Maintenance Fee on a monthly basis with payments in the amount of One Hundred Thirty Seven Dollars and Fifty Cents ($137.50) per month. Payments 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 often percent (10%) shall be applied after any payment hereunder is due but unpaid. (b) Said Maintenance Fee shall be applied towards the maintenance and upkeep of Licensee's four bus bays. Regular maintenance includes, but is not limited to the following: quarterly power washing of each of the bus bays, repair/replacement of four wheel stops, striping for each bus bay, removal of all trash, debris, graffiti, etc. (c) Licensee's annual maintenance payments shall be subject to an automatic annual adjustment in accordance with, and proportionate to, the change in the Consumer Price Index for Los Angeles —Anaheim —Riverside (CPI). Licensor shall calculate the amount of the CPI adjustment and notify Licensee in writing on each anniversary of this Agreement. 25H-6