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<br />170. <br /> <br />LICENSE AGREEMENT <br /> <br />THE STATE OF TEXAS <br /> <br />COUNTY OF HAYS <br /> <br />The City of San Marcos, Texas, a Texas municipal corporation (the "City"), and Burkett <br />Transit Advertising, Inc. ("Burkett"), a Texas corporation, each acting through its duly authorized <br />representative, enter into this agreement. <br /> <br />Section 1. Grant of License. The City agrees to grant Burkett a license to use City rights-of- <br />way for the location of benches and shelters for the convenience of persons using the bus service <br />operated by the Capital Area Rural Transportation System, and the shuttle bus service operated by <br />Southwest Texas State University. <br /> <br />Section 2. Term of Agreement; Renewal. The term of this agreement shall be for five <br />years beginning March 1, 2002. The obligation to make the last annual payment due under Section <br />3, however, shall survive the term of this agreement and this payment shall be due on or before May <br />1, 2007. This agreement may be renewed for an additional five year term with the mutual consent <br />of the parties. <br /> <br />Section 3. Compensation to City. Burkett agrees to pay the City the following as <br />compensation for its use of rights-of-way: <br /> <br />a) An initial fee of$5,000.00, due by March 31, 2002; <br /> <br />b) A fee of$100.00 annually for each year of this agreement (March 1 February 28), due by <br />March 1 st for the succeeding year; and <br /> <br />c) An annual sum equal to 10% of the gross receipts received by Burkett during each year of <br />this agreement from all advertising appearing on Burkett's benches and shelters. Burkett <br />shall make this annual payment on or before May 1 of the year following each respective <br />calendar year during the term of this agreement. <br /> <br />Section 4. Maintenance of Records. Burkett agrees to maintain financial records related <br />to revenues from advertising on the benches and shelters in accordance with generally accepted <br />accounting standards. Burkett agrees to make these records available for inspection by the City, and <br />to furnish certified statements of total gross receipts derived from advertising on its benches and <br />shelters upon request of the City. <br /> <br />Section 5. Location of Benches and Shelters. Burkett agrees to maintain benches and <br />shelters within the City only at locations approved by the City Manager of the City. Should Burkett <br />wish to add or delete any location for a bench or shelter, Burkett shall deliver to the City Manager <br /> <br />C:ITEMPIBurkett bench-shelter agreement.doc <br /> <br />1 <br />