I&M Memorandum of Use and License Agreement - Installation of 69kV Transmission Line – Indiana Michigan Power

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3 I&M will employ its best efforts to commence and complete the initial installation of the Work on the Property, along with related repairs and/or restoration required under the terms of this Agreement, in accordance with the mutually agreed to Schedule of Work, on Exhibit E, incorporated herein by reference and attachment. I&M acknowledges and agrees that full or partial closure and/or loss of use and enjoyment of the Property managed by the City’s Board of Park Commissioners, due to the inability to adhere to the Schedule of Work would result in harm to the City. I&M acknowledges that the City may assess a $500.00 per day Property use fee for each day construction exceeds the scheduled completion date unless the cause for the delay is beyond I&M’s reasonable control. In the event of a material breach, the City may elect to terminate this Agreement, in whole or in part, by providing I&M with a two (2) year prior written notice. 4. No Lease or Easement; Assignment. The City represents that it is the sole owner in fee simple of the Property and has the lawful right to permit I&M to use the Property under this Agreement. The City also represents that it has the authority to grant access to City ROW. The Parties acknowledge and intend that this Agreement will not constitute a lease of or an easement on or over the Property, and I&M will have no right or authority to convey any leasehold or other interest in the Property or ROW to any other person or entity other than its successors in interest, as occurring thru merger or acquisition. Any attempt by I&M to grant or lease any interest in the Property to any other person or entity amounts to a material breach of the Agreement. 5. Restoration. The Parties acknowledge that I&M’s Use of the Property will involve the installation of underground electric transmission lines, resulting in disturbance and damage to the City Property. I&M agrees that at its sole expense, it shall restore the City Property to the same or better condition than existed immediately prior to I&M’s use. I&M will notify the City contact(s) promptly upon completion of restoration, so as to provide the City with sufficient time to inspect and provide written notice of its acceptance of the restoration for each portion of the Property used. 6. Maintenance. At all times during the term of the license, I&M agrees to conduct the Work in a manner consistent with keeping the Property in good order and condition and free of debris. During times of construction, maintenance of traffic and any other signage and barriers must be checked regularly to ensure adequate safety zones and public paths are maintained. Except in cases of an emergency, I&M and its subcontractors must notify the City, by and through its Director of Venues, Parks and Arts and City Engineer (or their respective designees) , a minimum of 48 hours prior to any scheduled maintenance work. 7. Limitation of Liability. The City shall not be liable for any loss, damage, destruction, or any bodily harm or injury that may result from I&M’s use of the Property. 8. Storage. I&M agrees that it will not cause or permit, knowingly or unknowingly, any hazardous material to be brought or remain upon, kept, used, discharged, leaked, or emitted at the Property.