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<br />2. <br /> <br />Consideration <br /> <br />I <br /> <br />The CITY and the PROPERTY OWNER each acknowledge the receipt and <br />sufficiency of good and valuable consideration for the execution of this <br />Agreement, including but not limited to the following: <br /> <br />a. The beautification to be afforded to the community by the Improvements; <br />and <br /> <br />b. The agreement by the PROPERTY OWNER to provide the below- <br />specified insurance and indemnification in favor of the CITY. <br /> <br />3. CITY's Rights to Licensed Property <br /> <br />a. This Agreement is expressly subject and subordinate to the present and <br />future right of the CITY, its successors, assigns, lessees, grantees, and licensees, <br />to construct, install, establish, maintain, use, operate, and renew any public utility <br />facilities, franchised public facilities, roadways or streets on, beneath or above the <br />surface of the Licensed Property. The CITY shall take reasonable measures to <br />prevent damage to any Improvements on the Licensed Property; however, any <br />damage to or destruction of the PROPERTY OWNER'S property by the CITY in <br />the exercise of the above-described rights shall be at no charge, cost, claim or <br />liability to the CITY, its agents, contractors, officers or employees. Nothing in <br />this Agreement shall be construed to limit in any way the power of the CITY to <br />widen, alter or improve the Licensed Property pursuant to official action by the <br />governing body of the CITY or its successors; provided, however, that the CITY <br />shall provide the PROPERTY OWNER with at least thirty (30) days prior written <br />notice of any such contemplated action. <br /> <br />I <br /> <br />b. NOT WITHSTANDING ANY PROVISIONS IN THIS AGREEMENT <br />TO THE CONTRARY, THE CITY RETAINS THE RIGHT TO ENTER UPON <br />THE LICENSED PROPERTY, AT ANY TIME AND WITHOUT NOTICE, <br />ASSUMING NO OBLIGATION TO THE PROPERTY OWNER, TO REMOVE <br />ANY OF THE IMPROVEMENTS OR ALTERATIONS THEREOF, <br />WHENEVER SUCH REMOVAL IS DEEMED NECESSARY FOR: (A) <br />EXERCISING THE CITY'S RIGHTS OR DUTIES WITH RESPECT TO THE <br />LICENSED PROPERTY; (B) PROTECTING PERSONS OR PROPERTY; OR <br />(C) THE PUBLIC HEALTH OR SAFETY WITH RESPECT TO THE <br />LICENSED PROPERTY. <br /> <br />4. Insurance <br /> <br />a. The PROPERTY OWNER shall, at its sole expense, provide extended <br />public liability insurance coverage, written by a company acceptable to the CITY <br />licensed to do business in Texas, in the amounts of THREE HUNDRED <br />THOUSAND DOLLARS ($300,000.00) per occurrence and THREE HUNDRED <br /> <br />I <br /> <br />License Agt Carma BV San Marcos 20070126 <br /> <br />2 <br />