Res 1999-164 - Laserfiche WebLink

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Agreement, this Agreement will automatically be renewed for one-year periods on each successive anniversary ofthis ending date ofthe initial term unless one party notifies the other at least 30 days in advance of an anniversary date of its intention not to renew the Agreement. If such a notice is given, this Agreement is terminated on the anniversary date that occurs after the date of the notice. 6. Consideration: As consideration for this Agreement, Lessee shall pay Lessor the sum of$ 800.00 per month, payable monthly in advance. Late payments (payments received by the Lessor later than the last day of a month for the succeeding month are subject to a $50.00 late payment fee. The rental amount shall increase each year by five percent per year over the previous year's amount. 7. Termination: a. This Agreement may be terminated by Lessor at any time, if Lessor reasonably determines that the structural integrity of the water tower is in question or that the water tower or any appurtenances pose an immediate threat to life and/or property. Lessor will endeavor to provide advance notice to the Lessee of any such termination, but Lessor makes no commitment to do so. In this event, no compensation shall be paid to Lessee for termination of this Agreement or for damages to any equipment, the removal of which was necessitated by such condition. b. This Agreement may be terminated by either party prior to the expiration of the initial or any renewal term upon 90 days written notice to the other party of its intention to terminate. c. This Agreement may be terminated by eithel; party upon default by the other party of any of the covenants or conditions contained in this Agreement other than a default resulting in the creation of conditions described in Section 7a. In the event of a default by a party, the other party shall give the defaulting party written notice of default, and, upon the defaulting party's failure to cure or remedy the default within 30 days following receipt of notice, this Agreement shall terminate immediately without further notice to the defaulting party. d. Upon any termination of this Agreement, Lessee shall remove its property and equipment (other than permanent improvements) from the Leased Premises within 15 days after the date oftermination. Lessee shall have no further claim, right, title or interest in or to any of the property or equipment remaining on the Leased Premises after that time, and Lessee agrees 3