2018-204 Economic Dev - Town of Chapel Hill transit advertising

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6. Chapel Hill Transit reserves the right to cancel this Contract at anytime upon default by the Advertiser in payment or other breach, or in the event of any material violation on the part of the Advertiser of any of the conditions herein named; and upon such cancellation, all payments for advertising or other charges under this Contract, and unpaid, shall become immediately due and payable. Chapel Hill Transit at its option may elect not to terminate this Contract, but consider the entire balance of payments to be made under this Contract accelerated and immediately due and payable. 7. Advertiser grants Chapel Hill Transit permission to promote Chapel Hill Transit's own business through the use of Advertiser's cards, posters or displays in any manner whatsoever. B. This Contract shall not be binding on either party until artwork and Contract is accepted by an officer of Chapel Hill Transit and upon acceptance shall constitute a Contract between the parties. 9. In the event the advertiser becomes a subject of any petition in bankruptcy or receivership, either voluntary or involuntary, or in the event of assignment for the benefit of creditors, the advertising company shall have the right to cancel this contract immediately. Whether under these circumstances or other circumstances, the advertiser agrees to pay reasonable attorneys' fees and other reasonable costs incurred in the collection of any past due balances of this contract. 10. This contract obligates the Advertiserto pay in advance of service. A delinquent charge of 1-1/2% per month (18% per annum) will be added to each month's billing not paid within 60 days of billing month. 11. All rates and adjustments are computed on the basis of thirty (30) days to the month. 12. Chapel Hill Transit shall not be held responsible for unused signs not called for by the Advertiser within ten (10) days after expiration of the Contract. If no notice is given, Chapel Hill Transit may dispose of such materials. 13. Chapel Hill Transit will not display any advertisements that fall into the categories detailed below. No advertisement posted on Chapel Hill Transit shall be in conflict with the following terms: A. Alcoholic Beverages. Chapel Hill Transit will not accept advertisements and images soliciting or promoting the sale or use of alcoholic beverages. B. Tobacco Products. Chapel Hill Transit will not accept advertisements and images soliciting or promotingthe sale or use of tobacco products including, but not limited to cigarettes, cigars and smokeless tobacco.