Agmt24 Peet's Coffee, Inc. (2600 Broadway)

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Licensee, upon the lapse of any required insurance coverage. Licensee shall be responsible, at its expense, for separately insuring Licensee's personal property. 11. TERMINATION: A. This License Agreement may be terminated at any time by the City or the Licensee for any reason, upon ten (10) business days' written notice. B. This License Agreement shall terminate immediately upon the breach by the Licensee of any terms and conditions of this License Agreement or any terms and conditions imposed during the Renewal Term. C. This License Agreement shall terminate immediately upon revocation of the Licensee's Encroachment Permit. D. If the Licensee terminates use of the Licensed Area for more than thirty (30) consecutive days or ceases business operations the License Agreement will be deemed terminated. E. Upon termination of the License Agreement, the Licensee shall immediately remove all Improvements and return the Licensed Area to as good as or a better condition than, the Licensed Area existed prior to the License Agreement. (i) If the Licensee fails to remove the Improvements, the City shall give written notice of its intent to remove and destroy or otherwise dispose of any Improvements ("Removal Notice"). The Removal Notice shall identify the date and time that the Licensee must remove the Improvements from the Licensed Area ("Removal Date"), which shall be at least ten calendar days from the date of the Removal Notice. (ii) If the Licensee responds to the Removal Notice and requests additional time to remove the Improvements, the City may agree to any such request and new Removal Date, in its sole discretion. (iii) If the Licensee does not respond to said Removal Notice by the Removal Date and/or fails to remove the Improvements by the Removal Date, as may be amended pursuant to subsection (E)(ii), the Parties agree that the Licensee's failure to remove the Improvements shall be deemed by the Licensee to be a relinquishment of all ownership rights and title to the Improvements to the City. Upon said relinquishment, the City may enter the Licensed Area and remove and destroy or otherwise dispose of the Improvements and return the Licensed Area to pre -License Agreement conditions. (iv) The Licensee shall be responsible for any costs the City incurs relating to the removal and destruction or disposal of the Improvements, including but not limited to compensation for all City staff time and payment of all third parry contractor fees and attorneys' fees, to restore the Licensed Area to its pre -License Agreement condition. REV: 05-16-24 VR ATTY/AGR.2024.067/Peet's Coffee (2600 Broadway) (Page 7 of 23)