2015-614 AMS - State Employees' Credit Union ATM Lease renewal

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NORTH CAROLINA: ORANGE COUNTY: LICENSE AGREEMENT THIS LICENSE AGREEMENT, made and entered into this TWENTY FIRST day of 2015, by and between, ORANGE COUNTY, hereinafter referred to as "Licensor", and STATE EMPLOYEES' CREDIT UNION, a North Carolina corporation, hereinafter referred to as"Licensee"; WITNESSETH: That subject to the terms and conditions hereinafter set out, said Licensor does hereby license unto said Licensee, and said Licensee does hereby accept of Licensor the licensed use of reasonably accessible space on or about that certain tract or parcel of land located at 104 E. Margaret Lane, Hillsborough, Orange County, North Carolina and as more particularly shown on Exhibit A (the "Licensed Premises") attached hereto, for the purpose of operating an Automated Teller Machine ("ATM"). The terms and conditions of this License Agreement are as follows: 1) The term of this License shall be for a period of THREE (3) years beginning on the FIRST day of, NOVEMBER, 2015, and ending on the LAST day of OCTOBER, 2018, unless extended or terminated under the other provisions of this License. 2) Licensor shall provide space to the Licensee rent free for the term of this License. It is understood and agreed that upon thirty days' notice, and for good cause shown, Licensor may modify the location of the Licensed Premises to any other reasonable location at 104 E. Margaret Lane, Hillsborough, Orange County,North Carolina. In the event such modification becomes necessary Licensee shall be responsible for the costs associated with relocating the ATM. 3) Licensee shall use and occupy the Licensed Premises for the purpose of maintaining the ATM, and in connection thereto, shall comply with all laws, ordinance, orders, or regulations of any lawful authority having jurisdiction over the premises and the use thereof. 4) It is understood and agreed that Licensee shall be responsible for construction of the ATM and for the upkeep, repair, and maintenance of said structure during the term of this License or any extension hereof. At the expiration of the term of this License, the prior termination of said License as herein provided, or the modification of the location of the licensed use, Licensee shall be responsible or removing said ATM from the premises and restoring the premises to their present condition. 5) During the term of this License, Licensee shall maintain comprehensive general liability insurance on an occurrence basis with minimum limits of liability in the amount of Three Hundred Thousand Dollars ($300,000.00) for property damage, bodily injury, personal injury or death to any one person; Licensee shall also maintain excess liability coverage with a per occurrence limit of at least One Million Dollars ($1,000,000); and Licensee shall keep the ATM structure on the premises together with the equipment in said building insured against loss or damage by fire or other casualties.