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<br />Property as determined by the Licensor in its sole discretion, will be grounds for immediate <br />termination of this Agreement in accordance with Article 28. <br /> <br />2. Term: Unless otherwise terminated as provided herein, this Agreement will be in effect <br />for a term of five (5) years commencing on the first day of May, 2008 and ending on the last day of <br />April, 2013. Licensee acknowledges that this Agreement does not entitle Licensee to any subsequent <br />agreement, for any reason whatsoever, regardless of the use Licensee makes of the Property, the <br />improvements Licensee places on or makes to the Property, or for any other reason. <br /> <br />3. Consideration: Licensee will pay to Licensor the sum of Two Hundred and 00/ 100 <br />Dollars ($200.00) upon the execution and delivery of this Agreement for the first year; <br /> <br /> Yearly Payment Due <br />Term Year Due Amount First Day Of <br />First Year 2008 $200.00 May <br />Second Year 2009 $200.00 May <br />Third Year 2010 $200.00 May <br />Fourth Year 2011 $200.00 May <br /> ~ - <br />Fifth Year 2012 $200.00 May <br /> <br />All payments subsequent to the initial payment will be paid to the Southern California Edison <br />Company, Post Office Box 800, Rosemead, California, 91770, Attention: Corporate Accounting <br />Department - Accounts Receivable. <br /> <br />All accounts not paid within 30 days of the agreed upon due date will be charged a late fee equal to ten <br />percent (10%) of the amount due. <br /> <br />4. Insurance: During the term of this Agreement, Licensee shall maintain the following <br /> <br />insurance: <br /> <br />(a) Workers' Compensation with statutory limits, in accordance with the laws of the State <br />of California and Employer's Liability with limits of not less than $1,000,000.00. <br />Licensee shall require its insurer to waive all rights of subrogation against Licensor, its <br />officers, agents and employees, except for any liability resulting from the willful or <br />grossly negligent acts of the Licensor. <br /> <br />(b) Commercial General Liability Insurance, including contractual liability and products <br />liability, with a combined single limit of $2,000,000.00. Such insurance shall: (i) name <br />Licensor, its officers, agents and employees as additional insureds, but only for <br />Licensee's acts or omissions; (ii) be primary for all purposes and (iii) contain standard <br />cross-liability provisions. <br /> <br />(c) Commercial Automobile Insurance with a combined single limit of $1,000,000.00. Such <br />insurance shall: (i) cover the use of owned, non-owned and hired vehicles on the <br />Property and (ii) name Licensor, its officers, agents and employees as additional <br />insureds. <br /> <br />Licensee shall provide Licensor with proof of such insurance by submission of certificates of <br />insurance, pursuant to Section 35 "Notices," at least ten days prior to the effective date of this <br />Agreement. Such insurance shall not be canceled nor allowed to expire nor be materially reduced <br />without thirty days prior written notice to Licensor, or provide a certificate of self insurance. <br /> <br />-2- <br />