RecD07 2007-178925 - Laserfiche WebLink

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the Historic Property and to qualify the Historic Property for an assessment of valuation pursuant to the provisions of Chapter 3, of Part 2, of Division 1 of the California Revenue and Taxation Code. NOW, THEREFORE, CITY AND OWNER, in consideration of the mutual covenants and conditions set forth herein, do hereby agree as follows: 1. Effective Date and Term of the Aqreement. The term of this Agreement shall commence on November 5, 2007 (the "effective date"), and shall expire ten years thereafter, to wit, on November 5, 2017. Each year upon the anniversary of the effective date, the initial term will automatically be extended as provided in paragraph 2. 2. Renewal. Each year on the anniversary of the effective date of this Agreement (hereinafter referred to as the "renewal date"), a year shall automatically be added to the initial term of this Agreement unless notice of non-renewal is mailed as provided herein. If either Owner or City desires in any year not to renew the Agreement, Owner or City shall serve written notice of non-renewal of the Agreement on the other party in advance of the annual renewal date of the Agreement. Unless such notice is served by Owner to City at least ninety (90) days prior to the annual renewal date, or served by City to Owner at least sixty (60) days prior to the annual renewal date, one (1) year shall be automatically added to the term of the Agreement as provided herein. Upon receipt by Owner of a notice of non-renewal from City, Owner may make a written protest of the notice. City may, at any time prior to the annual renewal date of the Agreement, withdraw this notice to Owner of non-renewal. If either City or Owner serves notice to the other of non-renewal in any year, the Agreement A TTY I AGR/2007.098 103007 2