Agmt07 Daily Boost - License Agreement

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ORIGINAL LEASE AND LICENSE TERMINATION AGREEMENT (Courthouse Square Lease Area 1B/License Area 1B) THIS LEASE AND LICENSE TERMINATION AGREEMENT ( "Termination ") is made and entered into as of June �� , 2011 ( "Effective Date "), by and among the Redevelopment Agency of the City of Redwood City, a public body, corporate and politic ( "Agency "), the City of Redwood City, a municipal corporation ( "City "), and Daily Boost LLC, a California limited liability company ( "Lessee "). Recitals A. Agency and Lessee are parties to that certain Lease Agreement (Lease Area 1B) dated November 19, 2007, as amended by an Amendment No. 1 to Lease Agreement dated July 2, 2009 ( "Lease "). The Lease covers certain premises comprising the Courthouse Square Concession Space identified as Lease Area 1B in the Original Lease and located at 2208 Broadway, Redwood City, California ( "Lease Area "). B. City and Lessee are parties to that certain License Agreement (License Area 1B) dated November 20, 2007, as amended by an Amendment No. 1 dated July 2, 2009 ( "License "). The License allows Lessee to use that certain area comprising the Courthouse Square Concession Space identified as License Area 1B in the Original License and located at 2208 Broadway, Redwood City, California ( "License Area "), in conjunction with Lessee's business conducted in the Lease Area. The Lease Area and License Area are collectively referred to herein as the "Premises." C. Lessee has been unable to make the Lease rent payments to Agency and the License fee payments to City, and has been unable to maintain the business operations in the Lease Area as required by the Lease and License. D. Agency, City and Lessee desire to accelerate the termination of the Lease and License. Agency, City and Lessee each recognize that there is significant time and expense involved in collecting the amounts owed and litigating such termination. Agreement NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Agency, City and Lessee hereby agree as follows: 1. Recitals; Capitalized Terms; Exhibits. The foregoing recitals are incorporated by reference into this Termination. Capitalized terms used herein and not otherwise defined shall • have the meanings given to such terms in the Lease and License. All exhibits attached hereto are incorporated by reference as though fully set forth herein. 2. Lessee's Lease and License Obligations. a. As of the Effective Date, Lessee owes Agency delinquent rent in the ATTY /AGR/2011.053 062111