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200512229 Fractional Lot Two (2) in Fractional Block Twenty Six (26) in the Original Town, now City of Grand Island, Hall County, Nebraska; and The Southerly 0.2 feet of Fifth Street lying immediately Northerly of and adjacent to the Easterly 0.2 feet of Lot Two (2) and the Westerly Thirty Nine and Eight Tenths (39.8) feet of Lot One (1), all in Block Twenty Six (26) Nagy's Addition to the City of Grand Island, Hall County, Nebraska. 3. LICENSEE'S DUTIES AND RISKS. It is understood and agreed that the Licensee may construct, maintain, repair and utilize the above described improvement at the Licensee's sole risk. The Licensee hereby waives any claim for damages against the Licensor, its officers, employees, agents and independent contractors for any damage or injury that may result to said improvement. If the Licensor, in its sole discretion, determines that any part or all of the improvement must be removed or is damaged by the Licensor, its employees, agents or independent contractors working for the Licensor during the course of their employment or duties with the Licensor, the Licensee agrees to assume and pay all costs relating to the replacement or repair of the improvement. 4. RESTORATION OF PROPERTY. If the construction or maintenance of the improvement identified in Paragraph 1 above requires the excavation of earth, removal of hard surfacing, grass, vegetation, landscaping, or any other disruption of the surface of the public right -of way or neighboring property, the Licensee shall restore the surface of the area to the same condition as it existed immediately prior to the Licensee's work in the area. S. EFFECTIVE DATE. This License Agreement shall take effect on the date it is executed by the Mayor of the City of Grand Island as dated below. It shall continue for an indefinite term or until such time as it is terminated as provided hereafter. 6. TERMINATION. This License Agreement shall terminate upon one or more of the following occurrences: (a) The service of sixty (60) days written notice of intention to terminate by any party upon the other party. (b) The Licensee's application for a permit to alter said improvement or any part thereof, unless said permit is for work due to an occurrence as described in Paragraph 3 above and said work has the prior written approval of the Licensor. (c) The Licensee's construction or installation of any structure or improvement of any nature upon the right -of -way held by the Licensor except that described in Paragraph 1 above. Upon the termination of this License Agreement, the Licensee shall be required, and hereby agrees, to remove said improvement from the Licensor's right -of -way at its own expense and without cost to the Licensor. Said removal to occur no later than sixty (60) days after receipt -2-