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LICENSE AGIU•:t:HENT
<br />THIS LICENSl!: J\GREEMl-:N'r entt:!red into this 19th day of.
<br />April , 19113, 1.Jy a between BAYSIDE U'l'ILI'l'Y, a Florida.
<br />general partnership, (h2re lnafter referred to aa •LIC&IISBIS°)-, ·
<br />and kOBERT A. CAlkNS, Trustee (hereinafter rof rrmd to ~••-
<br />• LICENSOR• I ,
<br />WHEREAS, Licensee iu d Plurida corporation organized for tho
<br />purpouel:I o t develupiny, cunut ruct1n~1 ,rnd opt.rating a waatewater
<br />treatment s y stem l:lervicincJ a fr,1nchi11e territory All ia aoro
<br />specif ically described on Exhiuit MA• attached h ere to, and
<br />Wtllrn.EAS, Li censor iH the owner of
<br />that certain rea l properly debcribed
<br />hereto, which property w1ll compri11e
<br />plant site, and
<br />fe.e simple tit le in and to
<br />on Exhiuit Ne• attached
<br />the wa11tewater troat111111nt.
<br />WHEREAS, Licensor lid:; dfJreed to grant a l icen11e to Licensee
<br />granting Licensee tho r iqht to use the real property of Liceneor,
<br />pursuant to tho term11 a nd proviuiuns 11et forth belcw,
<br />FOR AND CONSIDEHA'rlON OP 'rtl E SUM OF TEN DOLLARS ($10,00)
<br />ANO OTHER VALUABLE CONSlO~llA'l'lONS, IT IS AGREED AS FOLLOWS,
<br />l. Licensor grants Licensee an exclusive license to
<br />posse1i11, occupy and use the property descril.Jed on t:xhibit •e•
<br />attached hereto for t h e purpo11e of installing and conatructing
<br />thereon a waatewater treatment plant and yat.e• and aseociAteA
<br />facilities.
<br />2. Said lice nee iihil l l ninuncnce upon the i sauance of an
<br />India n Hiver County Ut.1l1ly t'ranc:hiue to Liconitoo and ahA ll
<br />tt1r11111\at.c at uuch t1mu .su 1;,11d l''"l'en:y i11 no longer utili zed tor
<br />t he purpoatS of ma1ntainin11 ,rnd oper a ting a wastewat.er troataant
<br />system.
<br />J. There shall l>e pct id tu t he Licen s or, a n annual lic•n••
<br />fee , the firs t. such fee :.;h,ll 1 I.le due and payable one year ' from the
<br />date of this Agreemont. '!'he license feu shall be calculated ••
<br />foilows:
<br />A. 1-'or the lirnt. hvo (',) years of thie Agreement, the
<br />market value uf llw property shall be deeme d to be FIJ'TY
<br />THOUSAND OOLLAHS (S',0,000.001 per acre.
<br />8, The a mount. of lic:en t1e fee shall be determined by
<br />multiplyinq thu m,.irk et. value of the proparty tilll811 12,
<br />a nd thereatter multiplyin«J the product by a fraction,
<br />the numeral.or ol which t.1hull b oq uai to the number of
<br />connectiont.1 exit..t 1111J J!J at the date the fee 1111 duo ,and
<br />the denominatuc-ul which t.1hali be 300 provided, how ever ,
<br />that for puq,oseu of computing the foe, the numirator
<br />shall never exceed JOO,
<br />C, The mdrket valu e of the property shall be
<br />re-apprai1:1ed t1u .. :, t u dl!t ermlne it11 new mArket v alue 110
<br />of the f i1•at. ddy ul' the sixth yeAr ot' this Lioonae
<br />A«Jreement and each a nd every five years thereafter, The
<br />new market v,dul, :;11,lll IJ c determined by MAI Appraisal,
<br />:,Jicl MJ\I Ai,l'r,,i,,,.,· 111 L<! mutudlly litdcctt,d by Licenuor
<br />uml Lice11i;cc. 'l'l1c co"t of the initial appraiual and ali
<br />subattquent appc-J15ali; tihall be shared equally 'by
<br />Licensor Mid l,icen!we. 'l'he appraiser will arrive at the
<br />market v,llue of the i,roperty bctsed upon itu v&lu ' ae
<br />undeveloped reuidential p roperty.
<br />EXllllll'r G
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