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PALOS VERDES PENINSULA UNIFIED SCHOOL DISTRICT <br />LICENSE AGREEMENT WITH <br />PALOS VERDES PENINSULA TRANSIT AUTHORITY <br />PREAMBLE <br />PARTIES AND LICENSING <br />The Palos Verdes Peninsula Unified School District ("District") hereby licenses to the <br />Palos Verdes Peninsula Transit Authority ("Transit Authority") those certain premises (the <br />"Premises") more particularly described in Section 4.01 hereof located in the City of Rolling <br />Hills at the Crest Road Maintenance site of the District, pursuant to this License dated July 1, <br />2017 ("Effective Date"). <br />ARTICLE 1. TERM <br />Section 1.0 l: This License shall end June 30, 2022; provided that either party may terminate this <br />License at any time upon not less than sixty (60) day's prior written notice to the other party, <br />except as otherwise provided in this License. <br />ARTICLE 2. LICENSE FEE <br />Section 2.0 l: The Transit Authority agrees to pay the District as a license fee ("Fee") for use and <br />occupancy of the Premises the sum of One Dollar ($1) for each twelve (12) months use of the <br />Premises, payable on the commencement date of this License and each year thereafter on the <br />anniversary date of this License. In addition, the Transit Authority shall pay monthly to the <br />District on the first day of each month during the term hereof the sum of Fifty Dollars ($50.00) <br />as payment for the District's providing commercially reasonable janitorial services to the office <br />space portion of the Premises only. The parties agree that the amount paid for such janitorial <br />services may be adjusted from time to time by side letter agreement between the parties. <br />Section 2.02: The Transit Authority shall not be required to make a security deposit. <br />Section 2.03: Fee (and any other required payments hereunder) shall be paid to the "Palos Verdes <br />Peninsula Unified School District" at Malaga Cove Administration Center, 375 Via Almar, Palos <br />Verde Estates, CA 90274 or such other place or places as District may from time to time <br />designate by written notice given to Transit Authority. <br />Section 2.04: A late payment penalty equal to five percent (5%) of any payment due hereunder <br />shall be assessed against the Transit Authority for any payment not received within ten ( 10) days <br />of its due date. <br />Section 2.05: The District agrees to make available to the Transit Authority at the District's cost <br />copy and printing equipment and supplies used by the District's personnel at the Crest Road <br />Maintenance site for use by the Transit Authority in the ordinary course of its business; provided, <br />005368JXJ053/ l 0330937v l