CCP 01-13-2009 (2) - Laserfiche WebLink

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0 EXHIBIT F License Agreement LICENSE AGREEMENT THIS AGREEMENT made and entered into as of this day of , 2009, by and between the City of New Brighton, a Minnesota municipal corporation (hereinafter referred to as "Grantor"), and MT Properties, Inc., a Minnesota corporation (hereinafter referred to as "Grantee"). WITNESSETH: BACKGROUND. Grantee has conveyed to Grantor fee title to the real property legally described on the attached Exhibit A (the "Property"). The Grantee currently leases to a third party that portion of the Property shown in the attached Exhibit B (the "Licensed Premises" ); for purposes of erecting and maintaining an outdoor advertising devicelbillboard. As a condition of said conveyance, Grantee has required that the Grantee be allowed to continue the use of the Licensed Premises for the billboard and collect rents therefor until terminated in accordance with this Agreement. Grantor and Grantee hereby enter into this License Agreement for that purpose. ARTICLE I - GRANT, TERM, TERMINATION 1.1 LICENSED PREMISES. In consideration of the covenants and agreements herein and in consideration of Grantee's conveyance of the Property, Grantor does hereby license to Grantee the Licensed Premises for continued use as the site of an existing billboard. Within thirty (30) days of closing on the transfer of the Property to Grantor, Grantee shall notify the party maintaining the billboard of the sale of the Property to Grantor and provide that party with a copy of this agreement. 1.2 TERM. The term of this License will commence on the date that this agreement is executed by the parties, and will terminate on the earlier of September 30, 2009 or 75 days after the Grantor gives to Grantee written notice to terminate all leases for the billboard. If Grantor terminates this License prior to September 30, 2009, Grantor shall pay to Grantee a sum equal to $1,115.00 for each month or portion thereof prior to September 30, 2009 for which Grantee suffers the loss of rent under the billboard lease due solely to the early termination of this License by Grantor. At Grantee's sole cost and expense, Grantee shall be responsible for terminating all billboard leases in accordance with the lease terms and for obtaining the removal of the billboard structure and any related facilities from the Licensed Premises prior to the expiration or termination date of this License. At the expiration or termination of this License, the Grantee JBD-209307v8 RC 145-408