New Search
or imposed by law upon Giustina. Eugene acknowledges that it must share the use of <br />the Road with heavy industrial log traffic. <br />Termination. <br />9.1. Although the term of this Agreement is for five years, in the event it <br />is not used by Eugene for a period of two years, or if otherwise abandoned by <br />Eugene, the Agreement shall automatically expire and Eugene shall upon <br />request execute a recordable document evidencing such expiration. <br />9.2. Eugene may terminate this Agreement at any time by delivering to <br />Giustina a document in recordable form stating that this Agreement is terminated <br />effective on a date following delivery. The fee shall then be prorated to the first <br />day of the month nearest the effective date of termination and Giustina shall <br />return to Eugene the prorated amount representing the remaining portion of the <br />5 year term, providing that Giustina shall not be obligated to return more than <br />$1,500. Giustina shall have no obligation to return any portion of the fee if <br />Eugene is in default at any time prior to the effective date of the termination. <br />10. Option to Renew. <br />Eugene may elect to renew the term of this Agreement for an additional <br />period of 5 years by notifying Giustina not earlier than 180 days and not later <br />than 60 days before the-expiration of the original term. The parties shall meet <br />within 30 days of notification to agree upon the fair market value of the fee for <br />the renewal term. If the parties fail to agree by 30 days before the expiration of <br />the original term, the fee shall be set by arbitration as herein provided. In no <br />event shall the fee for the renewal term under this Agreement be less than <br />$2,750, plus 4% compounded annually nor shall it be greater than $2,750 plus <br />10% compounded annually from April 15, 2006.1 <br />11. Transfer of Interests; Binding Effect. <br />11.1. Giustina shall give its consent to an assignment or transfer of this <br />Agreement by Eugene providing the assignee or transferee is capable, <br />especially financially, of performing all of Eugene's obligations in the Agreement <br />and enters into an agreement assuming these obligations in a form acceptable to <br />Giustina. In the event of an assignment or transfer, Eugene shall not be released <br />from its obligations in this Agreement unless this release is given in writing by <br />Giustina. <br />11.2. Eugene may not grant licenses of its rights under this Agreement. <br />Users of the communication facilities other than Eugene and its agents and <br />contractors Shall have no_right to_ use the Road unless they_have_entered-in-to-a--- <br />separate agreement with Giustina. <br />11.3. This Agreement shall inure to the benefit of and shall be binding <br />upon not only the parties hereto but also upon their respective heirs, successors, <br />Comment: Mark Giustina waived <br />this fee. I talked to him the week of <br />May 16. <br />Daniel <br />comment: If we leave this extra <br />wording out, we could not have a <br />contractor do installations for us. <br />Daniel <br />EASEMENT AGREEMENT - 4 <br />