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LICENSE AGREEMENT (7) /' I I GSB/dk 11/5/86 1416E LICENSE AGREEMENT THIS LICENSE AGREEMENT is made and entered into this a I .it day of fu~\.suJu . 1986. by and between the CITY OF CLEARWATER. a Florida municipality (herein. the "CITY"). and McCORMICK COUNTRYSIDE I LIMITED PARTNERSHIP (herein, the "LICENSEE"). WHEREAS. the CITY owns an easement which is descr ibed I herein. and the LICENSEE owns certain real property. also described herein: and WHEREAS. the LICENSEE has requested a license to use a portion of the easement for the purpose of installing and maintaining a sign, and the CITY has agreed to grant the license subject to the terms and conditions set forth in this License Agreement: now therefore FOR AND IN CONSIDERATION of the sum of Ten Dollars and other good and valuable consideration in hand paid to the CITY by LICENSEE. and of the mutual promises and covenants set forth herein. the parties hereto agree: 1. The CITY grants unto LICENSEE a nonexclusive license to use the 40-foot drainage and utili ty easement along the western boundary of LICENSEE's property as outlined in red on Exhibit A, attached hereto. for the construction and maintenance of a sign to identify the property of the LICENSEE which is identified as "TRACT 1" on Exhibit A. QC, " Pu 0 ;1/;1 ~_, -..-.' / CW t-..t'T! A.Al~.L/ .,' I,' o".',,/:, ,.,'.:,f., 1.',e!.:,.ti2, ,.41",.)(<.) "~ "/6',"~ ' ! ') " I t "\ cl ':'4, ,: "''''- [' $- ',/' '.J,,"' , c;1J1l." . I,i,,~ ;, (~ ",.. J., v , ) >- i:.' . . I I 2. The initial term of this agreement shall be for three (3) years from the date hereof. and shall be extended automatically for additional terms of one (1) year unless terminated by either party as provided herein. However. the term of this_ agreement. including all extensions thereof. shall not exceed fifteen (IS) years. 3. The license is granted subject to the fOllowing terms and conditions. and the LICENSEE agrees to comply with each and every term and condition: (a) The sign to be constructed within the easement shall meet all applicable requirements of the ordinances of the CITY in effect as of the date of this agreement or as may be modified prior to the issuance of the permit for the installation of the sign. The LICENSEE agrees to request no variances from the application of any of the applicable ordinances of the CITY with respect to the sign or the loca t ion of the sign. wi th respect to the setback requirements for the sign. the CITY represents to the LICENSEE that the minimum required setback for the sign shall be measured from the boundary between the easement and the adjoining road right-of-way. and not from the eastern boundary of the easement. (b) Within the easement. the sign shall be installed at a location which. in the opinion of the City Engineer. does not conflict with utility lines presently existing in the easement (if any) or which is not reasonably likely to conflict with the use of the easement during the term of this agreement. -2- I I (c) The LICENSEE agrees to relocate or remove the sign at its expense if. during the term of this agreement. the City Engineer of the CITY determines that the relocation or removal of the sign is necessary in order to avoid a conflict between the sign and utility lines installed or to be installed in the easement. or is otherwise necessary to permit the use of the easement by the CITY for the intended purpose of the easement. or upon the acquisition or threat of acquisition of the easement by another governmental agency for any public purpose. (d) The LICENSEE shall post with the CITY and continuously maintain during the term of this agreement a cash bond. surety bond or letter of credit from a financial insti tution acceptable to the CITY in the amount of One Thousand Dollars ($1.000.00). which amount represents the City Engineer's estimate of the probable cost to remove the sign from the easement. The cash bond. surety bond or letter of credit shall guarantee the removal by the LICENSEE of the sign within ninety (90) days following receipt of notice from the City Engineer of the CITY that the removal of the sign is necessary pursuant to this agreement. Each surety bond or letter of credit shall be renewed not later than one hundred twenty (120) days prior to the expiration of the surety bond or letter of credit. (e) In the event that the LICENSEE wishes to relocate the sign within the easement. the location shall be approved by the City Engineer of the CITY. and this agreement shall continue in full force and effect as if the sign had not been located. In such event. the City Engineer may revise his estimate of the probable cost to remove the sign. and -3- I I the LICENSEE shall furnish a new cash bond. surety bond or letter of credit if the estimate of the City Engineer has increased or decreased. (f) The installation and maintenance of the sign within the easement- pursuant to this agreement shall not confer upon the LICENSEE the right to relocate the sign within the easement or to another location outside the easement within the real property of the LICENSEE. However. the LICENSEE may relocate the sign to the LICENSEE's property outside the easement if the relocation may be accomplished without violating any applicable ordinance of the CITY at the time of such relocation. including but not limi ted to ordinances pertaining to signs. on-site parking. required landscaping. or required open space. As an additional inducement to the City to enter into this agreement. the LICENSEE assures the CITY that the plans of the Licensee for the development of the property outside the easement include or will include space for the sign in the event that relocation of the sign is required. and that the relocation of the sign to that space will not cause the loss of required on-site parking. required landscaping. or required open space. or will otherwise violate any applicable ordinance of the CITY. and that the sign may be relocated without obtaining a variance from the application of any of the applicable ordinances of the CITY. (g) The LICENSEE agrees to defend. indemnify and hold the CITY harmless from any and all claims for damages resul ting directly or indirectly from the installation and maintenance of the sign in the easement pursuant to this -4- I I agreement. and from any and all other claims arising under this agreement. except for claims arising from the negligence of the CITY or its officers. employees or agents. 4. This agreement and the rights and obligations hereunder shall run with the land and shall be binding upon the successors and assigns of the parties hereto. This agreement may be recorded in the pUblic records of Pinellas County. Florida. 5. This agreement may be cancelled by either party by giving notice in writing to the other party not less than thirty (30) days prior to the cancellation date. In the event of cancellation of this agreement. the LICENSEE shall remove the sign at its expense within not more than ninety (90) days fOllowing the notice of cancellation. IN WITNESS WHEREOF. the CITY and the LICENSEE have hereunto set their hands and seal the day and year first above written. CITY OF CLEARWATER Count~rsigned: By Approved as to form and correctness: Attest: .- - ./- - .,.- -.- ... - '- City Att McCORMICK COUNTRYSIDE I LIMITED PARTNERSHIP BY: McCORMICK PROPERTIES. Inc.. a Maryland Corporation General Partner ~'t\~ h/tc/~ f Vice President -5- I _ I MERCANT:llE-SAFEOEPOSIT & TRUSTCOMPANY ~ .,.. . (... .' CABLE ADDRESS "MERSAFE" INTERNA llONAl DEPARTM~NT 2:HOPKIN$ PLAZA BAUIMOAE; MAFWlAND 21201 , ,(301) 237,5304 DATENovember 6,1986 CityofCl:eahlater P.O BoX 47.48,' Cl~atw~ter, Fl. 3351& IRREVOCABLE-LETTER OF CREDIT NUMBE,R 8525 EXPIRATION December 6,1989 Gentlemen: Weherebyauthori~e you to draw on MERCANTILE.SAFE DEPOSIT & TRUST COMPANY, BALTlMORE,MARYLAND21201 for account of . McCormickCouI'l. trY!'?;tdeI Limited Partnership ,11011 McConnick ,', Road, f!un1Va~ci~~.M:~Ylanar 21031 ' uptotheaggregateamountofl$lOO.,()O_...- '(One Thousand and 00/100 D.S.Dollars) ava'llable-by your drafts at Accompanied by the fqllowing: " Your signed statement that theiimount ',drawn is owing to you because McCormick Countryside T Limited Partnership failed to k>rQvide for the removal ofa sign as requireclbythe City of Clearwater,Florida, at a site knm1Tn as One Prestige PlaCe, 2600 McCormick Drive, Clearwater, Florida. Drafts must clearly state the:,.num.her of this credit and pe presented at this bank in accordance with thea-hove provisions. We hereby agree withthedrawersj endorsers and bona fidehqldersofdrafts dravln under and in compliance with the terms of this credit that such drafts will be duly honored if drawn and negotiated on or before December 6,1989, provided the City Engineer certifie,sto the b<mk that McCormick CountrysIde ~Limited Partnership has not removed a sign within 90 days following receipt of notice from the-City Engineer that removal of the sign is necessary pursuant to a License A~reement between McCormick Properties, Inc., and the Ci tyof Clearv'later.' Weher~byagree with you that all drafts drawn under and in compliance .with the terms of this creditthat such drafts will be duly honored ,upon :presentation', to the'drall\lee. This Letter of, Credit is nottninsferabteor assignable without written consent of MEROANTlleoSAFE DEPOSIT & TRUST CO, Each draft drawn mtlst state "Orawn under MERCANTILE-SAFE DEPOS1T&,TRUST CO. Letter of Credit No. dated NQvember 6,1~86." 8525 Except as otherwise expressly st,ated herein,this credit is sUbject ,to the"Unifqf~~stoms and Practice fOr i)octlmen- tarY Credits ~U0"r:RFvfsjon) IntjHnatbo.nal" Q";a~beraf; CorTIm&l'ce BroyhuJe No>3'O". 4 U O. ' " 1.0,-445019 (4/80) ,.......~t. " -:'. -' ~ ... ; _"u; , ._ '. .' . . .~ ':'", ~.~~ .., ;:: . ,"': .