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<br />commence on August 14th, 1998, or upon delivery of the Subject Premises, <br /> <br />whichever comes last. <br /> <br />13. Amendment and Modifications. <br /> <br />Supplementary guidance <br /> <br />memoranda and information agreements shall be formulated, if necessary, to <br /> <br />facilitate attainment of objectives substantially as indicated herein. Any major <br /> <br />revisions in the objectives of the Permit as outlined herein, which either <br /> <br />Permittee or City may consider desirable or necessary in the future, will be <br /> <br />made, subject to approval of the parties, the subject of supplemental agreements <br /> <br />which may be approved and executed by the Director or his designated <br /> <br />representative. <br /> <br />14. <br /> <br />Renewal. City and Permittee agree to discuss the renewal of this <br /> <br />Permit annually commencing on April 1 st, and ending April 30th. Neither this <br /> <br />paragraph nor any language contained in the Permit does not in any way <br /> <br />obligate either party to renew this Permit. Renewal of this Permit is subject to <br /> <br />the Director's approval, at his/her sole discretion. If renewal is approved, it shall <br /> <br />be subject to an increase of no more than five (5) percent over the Monthly Fee <br /> <br />in effect during the month prior to the renewal. A supplemental agreement <br /> <br />covering the renewal and any amendments and modifications agreed upon by <br /> <br />both parties, will be signed prior to June 30th. The annual renewal period will be <br /> <br />from July 1 st through June 30st. <br /> <br />15. Default. If Permittee is in default in performing any of the terms or <br /> <br />provisions of this Permit and if City gives Permittee notice of such default, and <br /> <br />Agrmt-173 <br />FXS:rg <br />07/13/98, 08/07/98R <br /> <br />5 <br />