2008 048 Ordinance - Laserfiche WebLink

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in addition to the IRU in the OneCommunity Fibers and subject to the terms and conditions set forth herein for the OneCommunity Fibers. Upon mutual agreement of the Parties, OneCommunity may purchase an IRU in additional fibers, the terms and conditions of which shall be separately negotiated. 2.2.1 The consideration for the IRU in the Additional Fibers will be a one-time payment of three thousand five hundred dollars ($3,500.00) (the "IRU Payment") payable upon exercise of the Option. 2.2.2 OneCommunity may exercise the Option at any time within five (5) years of the Effective Date by giving written notice to the Village. Within a reasonable time after OneCommunity's exercise of the Option, the Parties will enter into an amendment to this Agreement acknowledging such exercise. 2.2.3 The term of OneCommunity's IRU in the Additional Fibers will be the same as the remaining Term of the IRU for the initial OneCommunity Fibers. Section 3. Term and Termination 3.1 The Term of OneCommunity's IRU will begin upon the Village's acceptance of the System as evidenced by execution of the Certificate of Final Acceptance and will extend for a period of twenty (20) years thereafter, unless otherwise set forth herein (the "IRU Term"). Unless otherwise set forth herein, at the expiration of the Term or upon other termination of this Agreement, the IRU vrill immediately terminate, and all rights of OneCommunity to use the OneCommunity Fibers and the Additional Fibers shall cease. The Term of OneCommunity's IRU(s) in the OneCommunity Fibers and the Additional Fibers shall not be affected by the termination of the Fiber Facilities Agreement. 3.2. Extension of the Term. OneCommunity will have the right to extend the IRU Term for the OneCommunity Fibers and the Additional Fibers for four (4) additional consecutive periods of five (5) years each, by giving notice to the Village not later than twelve (12) months preceding the expiration of the IRU Term (or the extended Term), on the same terms and conditions set forth herein, if, at the expiration of the IRU Term: (a) this Agreement is still in effect, and (b) UneCommunity is not in breach of any term of this Agreement, and (c) the warranties set forth in Section 8.1 herein remain valid. 3.3 Early Termination. This Agreement may be terminated prior to expiration of the IRU Term or an extended Term upon written notice of OneCommunity's abandonment of the OneCommunity Fibers and/or the Additional Fibers. If at any time OneCommunity determines that the OneCommunity Fibers and/or the Additional Fibers have reached the end of their economic useful life, or OneCommunity otherwise no longer desires to have the IRU, OneCommunity may terminate this Agreement by providing ninety (90) days written notice to the Village. Upon any such notice of termination, this Agreement shall expire and all rights in and use of the OneConnmunity Fibers and/or the Additional Fibers shall revert to the Village 2