1983-108 - Laserfiche WebLink

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• • I .. d w l q 4, The 12\ percentage rate referred to above shall be adj usted at the same time the property is re-appraised. The increase or decrease in the previously established percentage rate . shall be equal to the difference between the previously established percentage rate of the prime lending rate being c h arged by Chase Manhattan Bank, New York City, as of t h e date the new rate is establish ed and said difference shall then be divided by 2, For illustrative purposes, assume that on the date the new rate is determined, the Chase Manhattan Bank is charging a 151 prime rate. Further assume that the previously established rate is 12\, The n ew rate would be 13~% (15% minus 12\ divided by 2), In no eve n t s h all t h e newly determined percentage rate be in excess o f 18% nor less than 9%, 5. Licensee may assig n this License Agreement to Indian River County (or a taxing uni t t h e reof) without the consent of Licensor. Licensee rights hereunder are otherwise assignable only with the prior written consent of the Licensor, which consent will not be unreasonably wit hheld, 6, Licensee shall pay, when due all charges relating to the construction on any improvements (which could give rise to liens) on the licensed property and shall indemnify and hold harmless Licensor from any and all claims arising in connection therewith, Further, Licensee shall, at all times, comply with the terme of the Indian River County Utility Franchise and all other applicable· ordinances, or other governmental rules and regulations, Specifically, without limitation, Licensee shall at all times . maintain liability insurance in accordance with said Franchise and Licensor shall be named as an additional insured. 7 . Licensee shall be responsible for the payment of all real and personal property taxes when due. Taxes for the year 1983 sha ll be prorated to the date of this Agreement on appropriate· basis as determined by the Indian River County Property Apprai ■a r. 8. In the event Licensee fails to p a y the license fe e wh o n du e , Licensee sha l l have thirty (30) days a fter receipt of notice · of non-payment from Licensor within which to pay said fee in full, If Licensee fails to pay said fee within said thirty (30) da y pe r iod, a penalty shall be imposed equal to 200% of the license fee due, If Licensee fails to pay said fee togethe r with said pena lty within sixty (60) clays thereafter, in addition to such othe r legal r em e die s as Licensor ma y have, Lice nsor may de cla r e this License Agreement to be terminated and Lice nsee sha ll vacate the property, With respect to other monetary defau !ts. or non-monetary defaults, License e shall h a ve sixty (60} d a ys following delivery of notice from Licensor specifying the de fault within which to make payment or cure the defa ult and if License e fails to do so, Licensor may pursue any legal remedies available to Licensor or, Licensor may terminate th i s License Agree ment in which event Licensee will immediately vacate the pre mises, 9. Where notices required to be given hereunder, notice shall be deemed sufficient when mailed to L~censor or Lice nsee a t the addresses set forth below, certified mail r e turn r e ceipt requested, Notice shall be deemed complete on the date tha t delivery is noted on the return receipt or the date which the U,6 . Post Office indicates on the reture receipt that delivery c a nnot be made, Addresses for Licensor and Licensee are as follows: OCEANSIDE UTILITIES, INC. 84 00 North A-1 -A Vero Beach, Florida 32960 BENT OAK UTILITIES, INC, 1010 Exec u tiv e Drive Orlando, Fl o rida 32803