1/4/2021 3:07:38 PM
12/13/2018 4:45:38 PM
Official Document Type
Agenda Item Number
Florida Power & Light
City of Vero Beach
Fiber License Agreement between the City of Vero Beach and Florida Power & Light Company
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A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />J.R. SMITH, CLERK <br />FIBER LICENSE AGREEMENT BETWEEN <br />THE CITY OF VERO BEACH <br />AND <br />FLORIDA POWER & LIGHT COMPANY <br />THIS FIBER LICENSE AGREEMENT (this "License Agreement") is made this 17 day <br />of December, 2018 by and between the City of Vero Beach, Florida, a municipal corporation <br />organized under the laws of the State of Florida (the "City"), the School Board of Indian River <br />County, Florida, with an address of 6500 57th St., Vero Beach, FL 32967 (the "School Board"), <br />and Indian River County, a political subdivision of the State of Florida with an address of 1801 <br />27th street, Building A, Vero Beach, FL 32960 (the "County" and together with the School Board <br />and City, the "LICENSOR"), with an address of 1053 20th Place, Vero Beach, Florida and Florida <br />Power & Light Company, a Florida corporation (hereinafter "Licensee"), with a principal office <br />at 700 Universe Boulevard, Juno Beach, Florida 33408. LICENSOR AND LICENSEE may <br />individually be referred to herein as a "Party", and together as the "Parties". <br />WITNESSETH <br />WHEREAS, the Parties have entered into an Asset Purchase and Sale Agreement dated as <br />of October 24, 2017(the "APA") in connection with Licensee's acquisition of substantially all of <br />the assets of LICENSOR's electric system; and <br />WHEREAS, the APA requires that the Parties enter into and deliver this Agreement at <br />the Closing, as defined in the APA; <br />NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other <br />good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, <br />the Parties agree as follows: <br />ARTICLE I <br />ADOPTION AND INCORPORATION OF RECITALS <br />The above recitals are true and correct and by this reference are incorporated herein and made a <br />part of this License Agreement. <br />ARTICLE II <br />DEFINITIONS <br />Each defined term shall have the meaning set forth in this Article II, except that all terms <br />used herein and not defined herein shall have the meanings assigned to them in the APA. When <br />used herein with initial or complete capitalization whether in the singular or in the plural, the <br />following terms shall have the following meanings: <br />"Consortium" means the School Board of Indian River County, Indian River County, and <br />LICENSOR, all of which are parties to the Interlocal Agreement. <br />"Fiber Acceptance Date" means the date that LICENSEE accepts or conditionally accepts <br />the Licensor Fiber Optic Strands as set forth Article VII herein. <br />116402757.1 <br />
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