Res 1996-074 - Laserfiche WebLink

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I (ò7"ß I I equipment upon the Leased Premises. If l:essee is unable to secure all appropriate approvals, this Agreement may be canceled by Lessee by providing 30 days written notice to Lessor and all advance rentals by Lessee shall be refunded. 5. Term: This Agreement shall extend for a period of five years from the date referred to in Section 1 above. After the initial term of this Agreement, this Agreement will automatically be renewed for one-year periods on each successive anniversary of this Agreement 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. The annual rental shall increase each year by five percent per . year over the previous year's consideration. 6. Consideration: As consideration for this Agreement, Lessee shall pay Lessor the sum of $364.65 per month, payable every six months in advance, subject to the escalation clause in Section 5 above. 7. Termination: a. This Agreement may be terminated at any time, without notice, by Lessor should Lessor determine 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, and, in such event, no compensation shall be paid to Lessee for damages to any equipment, the removal of which was necessitated by such condition.