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MAR -25 -1998 12:30 NfC 612 595 9837 P.03/05 A. The Owner has the legal authority and power to enter into this Agreement. B. The Owner will operate and maintain the property in accordance with the terms of this Agreement, attached Exhibits, and all local, state, and federal laws and regulations. C. The Owner will permit the use of the property for overflow parking from City Center activities, to the extent that the operations of the Owner's business on the property do not require the use of said property. D. The Owner shalt notify the City in the event that the property is not available for the City's overflow parking use for more than five consecutive business days. When the City has notified the Owner of an expected need for parking use in accordance with Section 1.2.E. of this agreement, the Owner shall make every reasonable effort to make the property available for such use. ARTICLE 11 PERIOD OF AGREEMENT Section 2.1 Time Period. This Agreement permits joint parking use of the property pursuant to Little Canada City Code Section 903.050. Subdivision I. This Agreement governs the uses and activities of the City on the property from the date of execution with no termination date. This Agreement may be withdrawn by either party upon twelve months notice to the other party. At that time, this agreement will be void, and the parties shall cease the use of the other party's real estate. After termination, use of the property by the City in the manner proposed in this agreement shall be permitted only by a new Agreement between the City and the Owner. The City and Owner understand that this Agreement grants no rights of use or other development rights, either express or implied, after the date of termination. ARTICLE 111 PROHIBITIONS AGAINST ASSIGNMENT AND THIRD PARTY INTERESTS Section 3.1 Representations as to Use. The City represents and agrees that its undertakings pursuant to the Agreement are for the purpose of temporary overflow parking use of the property. Section 3.2 Prohibitions Against Assignments and Delegations. The Owner and the City recognize that each respective party to this Agreement is uniquely situated to complete its associated duties and receive the associated benefits under this Agreement. The Owner agrees that the rights and responsibilities under the Agreement shall not be assigned to other parties without the express written agreement of the City, pursuant to specific authority granted by the City Council, whose consent shall not be unreasonably withheld. Section 3.3 Third Parties. This Agreement is made strictly for the benefit of the City and the Owner, and no interest shall accrue to any third party under this Agreement. Third parties are not intended beneficiaries of any portion of this Agreement. Page 3