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PROPOSED LICENSE AGREEMENT
Department: Department of Real Estate Management
Request: Approval of a New License Agreement
Licensor: County of Cook
Licensee: Fooda, Inc.
Location: 2650 S. California Avenue, Chicago, Illinois
Term/Extension Period: 8/15/2018-8/14/2019
Space Occupied: Up to 100 Square Feet
Monthly Rent: Five percent (5%) of food sales on a monthly basis if the average food sales per event is greater than $500.00 during the monthly period. Food sales shall be defined as the gross sales revenue generated during an event.
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: Automatically renewed for successive one (1) year periods unless terminated by either party.
Termination: Either party may terminate this License at any time upon thirty (30) days written notice to the other party; provided, however, that during the first four (4) months following the Effective Date of this License (“Introductory Period”), either party may terminate this License with fifteen (15) days written notice to the other party. The County, acting through its Director of Real Estate Management, may also terminate this License immediately with written notice, for failure, neglect, or refusal by Licensee to fully and properly comply with all of the provisions of this License as determined by the Director of Real Estate Management in his or her sole judgment. Licensee may also terminate this License upon fifteen (15) days written notice to County if the average daily meals sold drops below sixty (60) meals for a four (4) week period.
Utilities Included: Yes
Summary/Notes: License Agreement between the County of Cook, as Landlord, and Fooda, Inc, a Delaware Corporation as Tenant, for use of space on the second floor of the Criminal Courts Administration Building (“CCAB”) at 2650 S. California Avenue, Chicago, Illinois. The use of the space is for the sole purpose of providing food services at the CCAB as stipulated in the Fooda Customer Master Agreement.
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