HomeMy WebLinkAboutExhibit 1Term Sheet for the Award of a Revocable License Agreement
in Response to IFB 245233 for Mural Advertising
Contract Type: Revocable License Agreement (RLA)
Parties: City of Miami (Licensor) and Fuel Miami, LLC (Licensee)
Subject Matter: Mural Advertising at Various City of Miami Facilities. Current award contemplates the
licensed use of the MRC Building at 444 SW 2"d Avenue.
Term: One five-year term, with five one-year renewal options
Cancellation Provisions: Revocable -at -will by either party without cause after one year. Termination
with cause by City Manager at any time.
Fee Structure: MRC Building at 444 SW 2"d Avenue:
$9,250 base monthly use fee + 7% sales tax = $9,897.50 total monthly use fee; plus
18% of monthly gross receipts
Late fee: After the 5th of each month, 18% of the monthly use fee
Guarantee deposit: $5,000.00
Adjustments to monthly use fee: 1% increase on each 12-month anniversary date. This
adjustment does not apply to the percentage of monthly gross receipts.
Hold Harmless/Indemnification: Full indemnification for Licensor per Section 18 of the RLA.
Compliance with All Laws: Per Paragraph 30 of the RLA, Licensee is responsible for compliance.
Licenses and Permits: Per Paragraph 29 of the RLA, Licensee is responsible for compliance.
Insurance: Per Exhibit B of the RLA. General Liability: $1M/$2M/$1M; Auto Liability $1M
Special Provisions: All specifications requirements identified in IFB 245233 will be physically
attached and incorporated by reference into the RIA.
Special Provisions: Fuel Miami's Proposed Approach to Providing the Services is Exhibit C of the
RLA.
Special Provisions: Accounting records are to be available for inspection and to be retained for 36
months after termination of RLA.