Fill and Sign the License Agreement Allowing the Operation of Washing Drying and Laundry Equipment on Real Property of Another 497329470 Form

License Agreement Allowing the Operation of Washing, Drying, and Laundry Equipment on Real Property of Another Agreement made on the ____ day of ___________________, 20____, between ________________________________ (Licensee) of __________________________________ ____________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Licensee , and ______________________________ ____________________________ (Licensor), a corporation organized and existing under the laws of the state of __________________________________, with its principal office located at ______________________________________________________________________________ _________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Owner. For and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. License Owner, desiring to supply the tenants of the premises described below with modern and efficient laundry facilities that Licensee is willing to supply as specified in this Agreement, in consideration of the covenants and agreements contained in this Agreement, and in consideration of the sum of $_______________ paid to Owner by Licensee, receipt of which is acknowledged, grants to Licensee, the exclusive right and privilege to install, maintain, and service a special washing, drying, and laundry equipment system on certain real estate of Owner situated at ______________________________________________________________________________ _________________________________________ (street address, city, county, state, zip code) , consisting of all laundry space at such address owned by Owner amounting to approximately _____________ square feet and referred to hereafter as Premises. 2. Duration of License The exclusive right and privilege to install, maintain, and service the above-mentioned washing, drying, and laundry equipment system shall be for a term of years, commencing on ______________________________ (date) , and ending on _______________________ (date) , to enable Licensee to amortize the cost in making the installation of the equipment and materials. 3. Renewal of License The exclusive right and privilege stated in Section Two shall continue in force for an additional ____ years unless notice of cancellation in writing is given Licensee by Owner not less than ____days prior to the expiration of the original term set forth in Section Two of this Agreement. 4. Duties of Licensee A. Investment. Licensee shall make the investment necessary to equip the laundry room area on the Premises , with washing machines and custom drying equipment. B. Service and repair. Licensee shall service the installed equipment and shall keep such equipment in repair at Licensee's own expense during the term of this Agreement and any extensions of such term. C. Rent. Licensee shall pay to Owner ______% of the gross income from the equipment, payments to be made __________________________ (e.g., weekly or monthly) . D. Fire, Theft and Liability Insurance. Licensee shall assume entire responsibility for the installed equipment in case of fire or theft. Licensee shall also provide and maintain at his own expense a policy of public liability insurance in the amount of $__________ insuring Licensee and Licensor, as their interests may appear, against any damage, claim, action, or suit resulting from personal injury sustained, or alleged to have been sustained, from the use or alleged use of the above-described equipment. E. Advertisement. Licensee shall supply such advertising material, cards, and signs as may be needed to properly introduce the service to the tenants and will demonstrate or instruct the tenants in the efficient use of the equipment. 5. Access to Property Owner shall permit Licensee, through authorized representatives of Licensee, free and unobstructed access to and egress from the Premises during reasonable hours of the day for the purpose of further installations, inspection, or servicing of the equipment, or for removal of coins from the equipment. 6. Exclusive Nature of License Owner shall not install or permit the installation or use of similar equipment or on a similar plan at the above-mentioned location, by any other person, firm, or corporation during the term of this Agreement or any extensions of such term. 7. Report of Malfunctions Owner will protect its own interest and the Licensee's best interest by promptly reporting the need of service for the equipment, and by keeping the designated laundry space clean. 8. Title in License A. Any and all machines and equipment, together with fixtures installed for the special installation of this equipment furnished by Licensee under this Agreement shall be, and at all times remain, the property of the Licensee. B. Licensee may remove such machines, equipment, and fixtures on termination of this Agreement, by expiration of the specified original term, or at the expiration of any renewal or extension of such term, or otherwise. 9. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 10. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _____________________________. 11. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 12. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 13. Mandatory Arbitration Notwithstanding the foregoing, and anything herein to the contrary, any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 14. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 15. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 16. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 17. Counterparts This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. WITNESS our signatures as of the day and date first above stated. ____________________________________ LICENSOR ________________________________________ By_________________________________ LICENSEE (Name and Office in Corporation)