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• <br /> 6 <br /> AMENn,HENT NO.I <br /> TRANSIT ADVERTISING AGREEMENT <br /> BETWEEN THE CITY OF EVERETT <br /> AND LAMAR TRANSx'A,LLC <br /> This Amendment No: 1 is dated for reference purposes April i 2,, 2018. It is by <br /> and between the City of Everett, a municipal corporation under the laws of the State of <br /> Washington("City")and Lamar Transit,LLC("Contractor"). <br /> RECITALS <br /> A. The City and Clear Channel, Inc. were parties to the Transit Advertising <br /> Agreement dated . alL(ii12 1C(the"Agreement"). Contractor is successor-in-interest to <br /> Clear Channel Inc. pursuant to the assignment dated February 22, 2016, executed by the <br /> parties. <br /> B. The Agreement currently expires on June 30, 2018. The City and the <br /> Contractor desire to amend the Agreement for the purpose of renewing the Agreement for <br /> an additional five years and making certain other amendments, <br /> AGREEMENT <br /> T <br /> The City and Contractor agree as follows: <br /> 1. The Agreement is renewal for an additional five years,so that the Agreement now <br /> expires on June 30, 2023. During these five years, each "Contract Year" is as <br /> follows: <br /> Contract Year 1 July 1,2018—June 30,2019 <br /> Contract Year 2 July 1,2019—June 30,2020 <br /> Contract Year 3 July 1,2020—June 30,2021 <br /> Contract Year 4 July 1,2021—June 30,2022 <br /> Contract Year 5 July 1,2022—June 30,2023 <br /> 2. For the time period between July 1, 2018 and June 30, 2023, Section 3 of the <br /> Agreement is amended as follows, with the tables and underlined text added and <br /> strikethrough text deleted: <br /> 3. Payment. •e., - 7 CONTRACTOR <br /> hereby agrees to pay to Everett Transit non-refundable payments an- <br /> annual guarantee as follows: <br /> Year- :470000 <br /> Year 2:$75,000 <br /> Year-3÷-$805004 <br /> Year 5:,$30,000 <br /> 1 <br /> 76 #12/1„ <br />