2023/12/13 Council Agenda Packet

-17- Licensee prior to such removal or change work, Licensor will provide reasonable notice given the circumstances to Licensee after the removal or change work is performed. (c) Costs of Licensor’s Work. Licensee shall pay all costs and expenses of any Equipment removal or changes performed by Licensor in accordance with this Agreement. Said costs shall be determined in accordance with the provisions of Article II of this Agreement. Licensee shall pay such costs within thirty (30) days of the date of Licensor’s billing for such costs. (d) Retention and Disposal of Licensee's Equipment. If Licensor removes any of Licensee’s Equipment on Licensor’s poles pursuant to this Section or any other Section of this Agreement, Licensor has the right to any one or combination of the following options with regard to the removed Equipment: (i) Licensor may hold such Equipment as additional security for the payment of any sums due under this Agreement; (ii), Licensor may sell such Equipment at a public or private sale without notice to Licensee; (iii) If Licensor determines such Equipment is of little or no value, Licensor may dispose of the Equipment without notice to Licensee; and/or (iv) Licensor may turn such Equipment over to Licensee. In the event Licensor sells any of Licensee’s Equipment, Licensor shall apply the proceeds to the payment of sums due under this Agreement and shall turn over the balance, if any, to Licensee. (e) Liquidated Damages for Failure to Remove Equipment. In the event that Licensee fails to remove its Equipment within the required time period and in recognition of the difficulty in calculating the actual costs, expenses and other damages (“Loss”) that Licensor will incur due to such failure, the Parties agree that, Licensor may impose liquidated damages upon Licensee of $20 for each day per utility pole Licensee fails to remove its Equipment beyond the thirty (30) day timeline or other specified timeline. The Parties further agree that said daily amount represents a reasonable valuation of the Loss Licensor will incur due to Licensee’s failure to remove its Equipment in a timely manner. Said liquidated damages shall be paid by Licensee to Licensor within thirty (30) days of the date of any liquidated damages notice issued pursuant to this subsection. VII. DURATION OF AGREEMENT 7.01 Term of Agreement The term of this Agreement shall commence upon full execution hereof and shall end midnight, March 31, 2030, subject to the rights of earlier termination of either Party as set forth herein.