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p <br />Parking Agreement <br />This Parking Agreement dated October 17, 2002 is by and between Redlands Community <br />Investment Corporation (RCIC), a California corporation, and the City of Redlands, <br />Recitals <br />A. RCIC is the owner of 7,938 square feet of paved parking lot at the Southeast <br />Corner of 9`' and State Street, Redlands, California. The lot contains Seventeen parking spaces, <br />one of which is handicap designated. <br />B. The City of Redlands and Redlands Community Investment Corporation desire to <br />enter into this Agreement for the purpose of RCIC granting the City of Redlands use of <br />seventeen spaces in the parking lot located at the Southeast corner of 9 h and State Streets subject <br />to the terms of this agreement. <br />Now, therefore, in consideration of the premises and the mutual obligations of the parties <br />set forth herein., and for other good and valuable consideration, the receipt and sufficiency of <br />which is hereby acknowledged, it is mutually agreed as follows: <br />Operative Provisions <br />1. Tenn. The term of this agreement shall commence on November 1, 2002, and will <br />remain in effect on a month -to -month basis until Redlands Community Investment Corporation <br />and/or the City of Redlands terminates this agreement. <br />2. License Grant. RCIC hereby grants to the City of Redlands a non-exclusive license <br />to access the Property and use the Designated Parking spaces for the sole purpose of temporary <br />parking of motor vehicles by the City of Redlands, its principals, employees, agents, customers, <br />guests and invitees, and for no other purpose whatsoever. The license granted herein is limited <br />to the City of Redlands permitted use of the Designated Parking Spaces on an exclusive basis <br />Monday through Friday of each week during the terra of this Agreement. <br />3. Parkin Fee. The City of Redlands shall pay to RCIC $320.00 per month <br />commencing on the Effective Date of this Agreement and on the First (1") of each month <br />thereafter_ <br />4. Late Charges and -Interest. If the City of Redlands fails or refuses to make any <br />payment to RCIC when due, the City of Redlands shall pay a late charge of ten percent (10%) of <br />the amount due, as liquidated damages, in addition to and not in lieu of RCIC's other remedies. <br />S. Right of Access, Improvements,, Gates, Entry and Closure. RCIC and its authorized <br />agents, contractors and representatives, shall be entitled to enter upon the Property at all times <br />for any purpose, including, without limitation, entry upon and closure of the Property to <br />undertake work for repairs, use, maintenance, additions, alterations and/or improvements on or <br />of the Property which RCIC deems necessary or advisable. <br />P F 1 of 3 Cm Of RMLANUS RCIC PARK AGRLWAT � 10302 REV LG <br />