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3.2 Options - City has the right to extend the term of this Agreement for three (3) <br />additional one-year periods (the "Additional Terms"), based upon the same conditions of <br />the Initial Term, subject to adjustments for compensation. City shall notify Operator in <br />writing of its exercise of its option for an Additional Term no less than thirty (30) days <br />prior to the end of the then current Term. <br />4. COMPENSATION <br />As total compensation for Operator's services under this Agreement, City agrees <br />to pay and Operator agrees to accept, a management fee in the amount of <br />Dollars ( $ ) annually, paid on a monthly prorated <br />basis of $ per month. <br />5. DESIGNATION OF OPERATOR AS MANAGER: PARKING FACILITIES TO BE <br />OPF.R ATED <br />A. Non-exclusive Agreement. Operator's right to operate the Parking Facilities is <br />non-exclusive. <br />B. Designation of Operator as Manager. City hereby designates and hires Operator <br />as the operator and manager of the hereinafter described Parking Facilities and <br />Operator accepts such designation and agrees to operate and manage the Parking <br />Facilities subject to the terms, covenants and conditions of this Agreement. <br />Operator acknowledges that this Agreement conveys no interest in nor attaches to <br />any underlying real property comprising the Parking Facilities. Accordingly, City <br />and Operator agree that nothing in this Agreement shall entitle or permit or be <br />construed to permit Operator to file any claim, lien or notice against any real <br />property. As material consideration for this Agreement, Operator waives any <br />rights it may now or hereafter have to record a Its pendens against the Parking <br />Facilities under Section 405 et. seq. of the California Code of Civil Procedures, or <br />any other provision of law, if a dispute arises under this Agreement. <br />C. Parking Facilities to be Operated. Operator shall operate those certain vehicular <br />Parking Facilities, together with all incidental and appurtenant improvements <br />constructed thereon, shown on Exhibit A, attached hereto and made a part hereof, <br />hereinafter referred to as the "Parking Facilities," in accordance with the terms <br />and conditions set forth in this Agreement. <br />D. Performance. The hours of operation of each Parking Facility are set by the City. <br />Operator must staff each facility sufficiently during all operating hours. It is <br />expected that the parties will discuss and agree upon levels of staffing; however, <br />if the parties cannot agree, the decision of the Contract Administrator shall <br />control. Maintenance tasks should be performed at such hours as to minimize the <br />impact on customers. <br />E. Modification by City. The City may, during the term of this Agreement, modify <br />the list of Parking Facilities listed on Exhibit A. It may also modify parking space <br />4 <br />25D-34