73-18 Exhibit - Authorizing License Agreement for Parking on 471 Pleasant Valley Way.pdf

2. This License shall commence on the Commencement Date and shall continue until the earlier of the Conveyance or the date this License is terminated by either party upon written notice in accordance with the terms of this License (the “Termination Date”). If this License is terminated prior to the Conveyance, Licensee shall immediately surrender possession of the Parking Areas to Licensor with all of Licensee’s personal property and vehicles removed. Notwithstanding anything to the contrary contained in this License, Licensor shall have the right to restrict access and close any or all portions of the Parking Areas during such time as is reasonably necessary in order to avoid interference with the Parking Lot Work and/or the Bank Construction. Licensor agrees to use commercially reasonable efforts to give Licensee at least 24 hours’ telephonic notice prior to restricting access to the entire Property. 3. Licensee shall not be required to pay to Licensor any fee for the use of the Parking Areas. 4. (a) Licensee shall refrain any activity or conduct which would damage the Parking Areas or otherwise fail to keep the Parking Areas in good order and condition, except for ordinary wear and tear. Licensee covenants that (i) it shall commit no waste or damage upon or to the Parking Areas, (ii) it shall use the Parking Areas for only the Limited Use, (iii) it shall not use the Parking Areas for any unlawful purpose and or in violations of law or ordinance or duly constituted authority, and (iv) it shall use the Parking Areas in compliance with all legal requirements and in an orderly manner, and (v) it shall not engage in any activity or take any action to damage the clean and sanitary condition of the Parking Areas. (b) Licensor shall have no obligation to perform any maintenance, repairs or replacements to the Parking Areas for the benefit of Licensee, provided, however, that if Licensor performs any maintenance, repairs and/or replacements necessitated by the intentional acts or negligence of Licensee or the use of the Parking Areas for the Limited Use, Licensee shall indemnify Licensor upon demand, for the reasonable cost thereof. (c) Licensee shall not make any alterations, additions or improvements to the Parking Areas without the prior written consent of Licensor, which consent Licensor

nable cost thereof. (c) Licensee shall not make any alterations, additions or improvements to the Parking Areas without the prior written consent of Licensor, which consent Licensor shall not be required to give. In no event shall Licensee make any penetration into the surface of the Parking Areas except when required in instances affecting public health and safety. 5. Within fifteen (15) days after receipt of notice thereof, Licensee shall discharge any lien on the Parking Areas caused by Licensee, or any sums payable under this License caused by or arising out of Licensee’s acts or Licensee’s failure to perform any obligation under this License. 6. (a) Licensee shall obtain, and shall keep in full force and effect, the following insurance, with insurers that are authorized to do business in the State of New Jersey and are rated at least A (Class X) in Best’s Key Rating Guide: (i) Commercial General Liability Insurance, which shall include premises liability, contractual liability covering Licensee’s indemnity obligations under this License (to the extent covered as an Insured Contract in a standard ISO CGL Policy), damage to rented premises, personal and advertising injury and products/completed operations coverage. Such 2 53271403.v2