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I. Assignment of Town's Interest. The Town shall not assign or sublicense the Property <br /> without the prior written consent of the University. In no event shall the Town assign or sublicense the <br /> Property to a commercial or for-profit entity. <br /> in. Transfer of University's Interest. The University shall have the right to convey,transfer,or <br /> assign,by sale or otherwise, all or any part of its interest in this License,at any time and from time to time <br /> and to any person,subject to the terms and conditions of this License, provided that the University provides <br /> an assumption agreement with respect to this License including any accrued liabilities owed to the <br /> University at the time of the assignment duly executed by such transferee. Upon compliance with the <br /> foregoing,all covenants and obligations of the University under this License shall cease upon the execution <br /> of such conveyance,transfer, or assignment, but such covenants and obligations shall be binding upon the <br /> subsequent owner(s)thereof or of this License during the periods of their ownership thereof. <br /> n. Remedies Cumulative. No remedy herein or otherwise conferred upon or reserved to the <br /> Town or the University shall be considered exclusive of any other remedy, but the same shall be distinct, <br /> separate,and cumulative and shall be in addition to every other remedy given hereunder, or now or hereafter <br /> existing at law or in eqnity or by statute; and every power and remedy given by this License to the Town <br /> or the University may be exercised from time to time as often as occasion may arise, or as may be deemed <br /> expedient. <br /> o. Amendments. The terms of this License may be altered, amended, or modified only by <br /> mutual written agreement of the Parties. <br /> p. Notices.All notices required or contemplated herein shall be sufficient and deemed given <br /> if in writing and either delivered by hand; deposited with the United States Postal Service, postage prepaid <br /> via certified or registered mail, return receipt requested; sent via overnight mail via nationally recognized <br /> courier service with proof of delivery; sent by electronic mail, in so-called .pdf format, and addressed to <br /> the Parties as set forth below or to such other address as may be changed from time to time by notice duly <br /> given pursuant to this Section. <br /> All notices, demands, requests, consents, approvals, or communications to the University shall be <br /> addressed to: <br /> The University of North Carolina at Chapel Hill- Property Office <br /> Campus Box#1060 <br /> 103 Airport Dr.,Giles Homey Building, Suite 128 <br /> Chapel Hill,NC 27599-1060 <br /> (919)966-3296 <br /> property@unc.edu <br /> Attention: Gordon Merklein,Associate Vice Chancellor for Real Estate Operations <br /> With a copy to: <br /> Office of University Counsel <br /> The University of North Carolina at Chapel Hill <br /> Campus Box#9105 <br /> 123 W.Franklin St., Suite 600A <br /> Chapel Hill,NC 27516 <br /> Attention: General Counsel <br /> (919)962-1219 <br /> All notices,demands,requests,consents, approvals,or communications to the Town-shall be addressed to: <br /> (00124237.DOCX 7) 7 <br />