AMERICAN TITLE INSURANCE COMPANY-2017

Home Browse Search

N-2017-247 O: CMO (/) LICENSE AGREEMENT Daniel Soto This LICENSE AGREEMENT ("Agreement") is dated for reference purposes as of ocipbe r 2-5 , 2017, and entered into by and between FIRST AMERICAN TITLE INSURANCE COMPANY, a Nebraska corporation ("First American"), and the CITY OF SANTA ANA, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("Licensee"). RECITALS: A. First American Financial Corporation ("FAFC"), First American's parent company, is the owner of that certain real property located at 114 E. 5th Street, Santa Ana, California ("Property"). The Property consists of an entire city block bordered by 5t' Street to the North, 4h Street to the South, Main Street to the West and Bush Street to the East. B. First American is currently under contract to sell the Property to a third party buyer ("Buyer"). C. Licensee desires to use a portion of the Property at the corner of 4th Street and Main Street as identified on attached Exhibit A ("License Area") to install and display a statute ("Permitted Use") known as "El Abrazo Monumental" and pictured on attached Exhibit B ("Statue") as part of the "Wings of the City" public outdoor exhibit to be held throughout the City of Santa Ana. D. First American is willing to grant to Licensee a license to use the License Area for the Permitted Use, on the terms and conditions set forth herein. NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 1. Grant of License. First American hereby grants to Licensee a license to use the License Area for the Permitted Use during the License Term (defined in Section 2 below), on the terms and conditions set forth in this Agreement ("License"). This Agreement creates as a temporary license to use the License Area during the License Tenn, and does not constitute a lease, an easement or any other interest in the Property or any portion thereof, and nothing herein shall be construed to give Licensee any greater or other right or interest. 2. Tenn, Termination. The tern of this Agreement shall commence on October 25, 2017, and shall end on October 31, 2018 ("License Term"). Notwithstanding the License Tenn, First American shall have the right to terminate this Agreement at any time and for any reason upon not less than thirty (30) days advance written notice to Licensee; provided, however, that if Buyer intends to close escrow on the acquisition of the Property prior to October 31, 2018, then only fifteen (15) days advance written notice to Licensee shall be required to terminate this Agreement. In addition, if License does not comply with its obligations hereunder, First American shall have the right to terminate this Agreement in accordance with the terms of 1