Item2c_DiverseARTS_License_4th_Amendment — original pdf

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Fourth Amendment to DiverseArts License Agreement FOURTH AMENDMENT TO LICENSING AGREEMENT BETWEEN THE URBAN RENEWAL AGENCY OF THE CITY OF AUSTIN AND DIVERSEARTS This Fourth Amended Licensing Agreement (“Fourth Amendment”) is made and entered into between the Urban Renewal Agency of the City of Austin (“Agency”), with offices located at 1000 East 11th Street, Ste 200, Austin, Travis County, Texas 78702, and DiverseArts Culture Works with offices located at 904 Juniper Street, Austin, Travis County, Texas 78702 (“Licensee”) (collectively referred to herein as “Parties” and individually as a “Party”). WHEREAS, Agency and Licensee entered into that certain License Agreement on the first day of November, 2018; and WHEREAS, the term of the First Amendment to the License Agreement expired on October 31, 2019; and WHEREAS, the term of the Second Amendment to the License Agreement expired on June 30, 2020; and WHEREAS, the term of the Third Amendment to the License Agreement expires on September 30, 2021; and WHEREAS, the parties wish to extend the term of the License Agreement to September 30, 2022; and WHEREAS, the Agency’s Board of Commissioners approved this Fourth Amendment at a public meeting properly noticed in compliance with the Texas Open Meetings Act on the 20th day of September, 2021; and WHEREAS, Licensee’s board of directors approved this Fourth Amendment on the ____ day of ______________, 2021. NOW THEREFOR IN CONSIDERATION OF the duties, obligations and covenants of the Parties, and other good and valuable consideration, Agency and Licensee agree that Section 2 (entitled “Term”) of the License Agreement is amended to read as follows: TERM: LICENSEE The Agreement commences upon 1 November 2018 at 12:01am UNDERSTANDS AND AGREES THAT THIS LICENSE IS REVOCABLE AND and ends on September 30, 2022 at 11:59pm (the “Term”) AGENCY MAY ON ANY DATE AND AT ANY TIME BEFORE SEPTEMBER 30, 2022, TERMINATE THIS LICENSE AGREEMENT IN ITS SOLE DISCRETION WITH OR WITHOUT CAUSE AND LICENSEE SHALL VACATE PREMISES WITHIN THE TIME PRESCRIBED IN SECTION 7.B.ii. Page 1 of 2 Fourth Amendment to DiverseArts License Agreement Except as expressly amended herein the License Agreement shall remain in full force and effect. IN WITNESS WHEREOF, this Fourth Amendment is hereby effective as of the last date of execution below. Licensee: DiverseArts Culture Works ______________ Date ______________ Date _______________________________________________________ Harold McMillan, Founder/Director Agency: Urban Renewal Agency of the City of Austin ____________________________________________________ Manuel Escobar, Board Chair APPROVED AS TO FORM: By: General Counsel to the Urban Renewal Agency By: ______________________________________ of the City of Austin Denton, Navarro, Rocha, Bernal & Zech A Professional Corporation 2500 W. William Cannon Drive, Suite 609 Austin TX 78745 Charles E. Zech, General Counsel Page 2 of 2