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<br />License Agreement <br /> <br />Ì'ùge 2. <br /> <br />traffic signal with red, amber and green lights regulating the [low <br />of traffic at the intersection of Sessoms Drive and Pegues Street <br />in San Marcos, Texas. Such traffic signal shall also regulate <br />pedestrian traffic crossing said streets. Licensor aqrees thnt <br />Southwest Texas State University will pay up to one-third of the <br />reasonable costs for installing such traffic device. <br />5. If Licensee does not prepare, construct, improve and maintain <br />the property described in Exhibit A continuously after a period of <br />one year from the date of this agreement, or if Licensee fails to <br />install, operate or maintain the traffic signal described herein <br />within one year from the date the roadway is first opened for traffic, <br /> <br />Licensor may, in its sole discretion, terminate this agreement by <br /> <br />giving Licensee sixty days written notice. <br />6. This instrument shall be binding upon the successor's and <br />assigns of the parties thereto. <br />7. Should Licensee fail to perform any covenant, undertaking, <br /> <br /> <br />or obligation arising hereunder, all rights and privileges granted <br /> <br /> <br />hereby shall terminate, and this agreement shall be of no further <br /> <br /> <br />force or effect. <br /> <br />IN WITNESS WHEREOF, the parties hereto have executed this <br /> <br />license agreement on the day and year first above written. <br />