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REV: 03-25-24 LF 1.8 Licensee’s right to use the Licensed Area is conditioned on obtaining and maintaining all federal, state and local permits, certificates, licenses and approvals from all applicable governmental or regulatory entities (“Governmental Approvals”). The Parties acknowledge that Licensor, in executing this License, is acting only in its capacity as the owner of the Property and not in any governmental capacity. Licensee shall not consider this License as a Governmental Approval required for the construction or operation of a wireless communications facility. 2.TERM. 2.1 The initial term of this License shall be five (5) years (the “Initial Term”), commencing on the first day of the month following the date Licensee commences installation of the Licensed Area (the “Commencement Date”). 2.2 Provided that Licensee is not then in monetary default beyond any applicable notice and cure period of this License, this License shall automatically renew for four (4) additional, five- year terms (each being a "Renewal Term"), unless Licensee notifies Licensor in writing of its intention not to renew this License at least ninety (90) days prior to the expiration of the Initial Term or any Renewal Term. Licensee's license of the Licensed Area during each Renewal Term shall be on the same terms and conditions as set forth herein except that the amount of License Fee shall be as provided in Section 3 below. The Initial Term and any Renewal Terms exercised are herein collectively referred to as the “Term”. 2.3 If Licensee fails to remove the Communications Equipment or otherwise remains in possession of the Licensed Area beyond the period set forth in Section 6.6 below after termination of this License or at the expiration of the Term of this License without a written agreement, such possession shall be deemed a holdover use under the same terms and conditions of this License, except that the License Fee shall be 150% of the License Fee in effect at the expiration or termination of this License. Nothing contained herein shall grant Licensee the right to holdover after the Term of this License has expired and notwithstanding the payment of the License Fee during the holdover period, Licensor shall have the right to require Licensee to vacate the Licensed Area at any time after the expiration of the Term upon thirty (30) days written notice. 3.LICENSE FEES. 3.1 Commencing on the Commencement Date, Licensee shall pay Licensor the sum of Thirty-Six Thousand and No/100 Dollars ($36,000.00) ("License Fee") per annum, which annual License Fee shall be paid in advance and in full prior to or on the Commencement Date and on each annual anniversary thereof during the Term, including any applicable Renewal Terms; provided, however, City acknowledges that Licensee may not deliver the initial payment of the License Fee until sixty (60) days after the date of full execution of this License. Commencing on the first day of the first Renewal Term, and on the first day of each Renewal Term thereafter during the Term, the License Fee shall increase by an amount of ten percent (10%) over the annual License Fee during the immediately previous license year. If this License is terminated prior to the completion of any year of the Initial Term or any Renewal Term, Licensor will not return any prepaid portion of the License Fee for that year, provided, however, that if Licensor terminates this License pursuant to Section 9.2 below, or if this License is terminated by Licensee due to an ATTY/AGR.2024.027/Verizon Wirelsss (License Agreement) (Page 3 of 46)