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� EXHIBIT B <br /> � � 01 <br /> PARHING SPACE LICENSE AGREEMENT <br /> • . Parking Space License Agreement ("Agreement") between The Richard M. Keaveny Family <br /> Limited Partnership, as"Licensor,"and JulAnn,Inc.,d/b/a Jul Ann Hair Fashions, as"L;icensee." <br /> Licensor owns the real property at 3421�.435 Shoreline Drive in the Gity of Orono, <br /> Minnesota, legally described as: Tract B, Registered Land Survey No. 1422, Hennepin County, <br /> Minnesota (hereafter "Licensor's property"). Licensee is or will be a tenant of the property that is <br /> � . located at 3449 Shoreline Drive and which is adjacent to Licensor's property (liereafter the <br /> � "neighboruig property"). <br /> Tlie parties agree as follows: <br /> l. License. Licensee shall have a license for the use of up to nine parking spaces in the <br /> "lower level" parking area on Licensor's �roperty that is accessible fiom Kelly Drive (hereafter tlie <br /> "License"),by employees,clients and business invitees of Licensee's hair salon(to be) operated oii the <br /> neighborulg property, subject to the terms of this A�eement. Licensor may, fiom time to time, <br /> desi�iate particular parkuig spaces that will be subject to the License (to the exclusion of other <br /> parking spaces); as of the date hereof aud until fiu-ther notice from Licensor to Licensee, the parking <br /> spaces that will be the subject of the License will be the nine most westerly parking spaces along the <br /> .south side of the lower level parkin�area. <br /> 2. License Fee. Licensee will pay Licensor a license fee of $��per month, on or <br /> before the first day of the month, for each month the License is uz effect. The license fee for any <br /> � partial month will be pro-rated. The License fee will Ue subject to adjustment every twelfth month <br /> • that the License is in effect,by not more than a cumulative total of 5%per year. <br /> . 3. Termination; Term. The License will ternlinate if Licensee is delinquent in the <br /> payment of the monthly license fee or in any other obligation of Licensee pursuant hereto, and <br /> continues to be delinquent after ten days written notice to Licensee delivered or mailed to Licensee at <br /> Licensee's last laiown address. Licensor(or Licensor's successors or assi�s) may also tenninate the <br /> License upon,or at any time after,the occuirence of any of the following conditions: <br /> (a) Licensor sells Licensor's property; <br /> (b) Licensor euters into a lease with a tenant who will occupy the lower level, or any part <br /> of the lower level, of the buildiug ou Licensor's property, and such tenant cominences <br /> occupancy; <br /> (c) Liceizsor, or the present or future tenants� of Licensor's property, need to have the <br /> licensed parking spaces available in order to satisfy zoning or other requirements of <br /> any governmental authority (whether due to a change in the use or size of the <br /> building, change or application of zoning requirements,or otherwise); <br /> (d) Licensor couunences removal, reconstruction, substantial remodeling, or any addition <br /> � to,the existing building or other improvements on Licensor's property; . <br /> (e) Any part of Licensor's property is condemned or taken, either teinporai-i.ly or <br /> permanently,by any governmental authority. . <br /> Termination pursuant to (a) through (e) above will become effective ten days after written notice to <br /> Licensee delivered or mailed.to Licensee at Licensee's last laiown address, and, Licensee expressly <br /> • agrees that Licensee has no rights or expectation whatsoever which would in any way i.mpede Licensor <br /> from selling, leasing, removing, expanding, remodeling or reconstructing the building or other <br /> improvements on Licensor's property and terminating the License by reason thereof. Licensee also <br />