11-10-1997 Council Packet - Laserfiche WebLink

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i 1 I ! , SITE LEASE AGREEMENT THIS SITE LEASE AGREEMENT ("Lease"), made this___day of 199 1. 2. between City of Orono ("Landlord"), and Nextel West Corp., a corporation organized a^d existing under the laws of Delaware, d/b/a Nextel Communications ("Tenant"). For good and valuable consideration, the parties agree as follows: poperty and Leased Premises. Subject to the terms and conditions of this Lease, Landlord^ hereby leases to Tenant and Tenant leases from Landlord certain space on Landlord s north water tower (the "Tower"), and space adjacent to the Tower, subject to all existing easements (collectively referred to as "Leased Premises") together with a non exclusive easement for reasonable access to Landlord’s property and for adequate utility services, including sources of electric and telephone facilities on Landlord’s property located at 2700 Kelley Parkway, Orono, Minnesota, 55356-9387 (the "Property") on a non-exclusive basis. The Property is legally described on Exhibit A attached hereto. The Leased Premises on which antennas, connecting cables and appurtenances will be attached and located, and on which an equipment shelter will be located, the exact location of each to be reasonably approved by the Landlord, are described on Exhibit B attached hereto. Exhibits A, and B are made a part hereof. Rent. Amount, Adjustments. As a consideration for this Lease, based upon the request of Tenant that it have space for as many as 9 antennas. Tenant shall pay Landlord an annual rent in the amount of $13,000.00 for the initial year, which shall be increased each year on January 1, beginning January 1,1999, by the greater of: (a) five percent (5%) of the previous year’s annualized rental, or (b) by an amount equal to the increase in the Consumer Price Index ("CPr*)("Annual Rent"). The CPI shall mean the "Consumer Price Index - for All Urban Consumers, All Cities, All Items (1967=100)" as published by the United States Department of Labor Statistics, or if such index shall be discontinued, the successor index, or if there shall be no successor index, such comparable index as mutually agreed upon by the parties. To determine the annual rental increase to be paid by Tenant under a CPI adjuster, the annualized rental for the previous year shall be multiplied by a percentage figure, computed from a fraction, the numerator of which shall be the CPI for the third quarter of the preceding year and the denominator of which shall be the CPI for the corresponding quarter of one year earlier. Such fraction shall be converted to a percentage equivalent. The resulting percentage figure shall be multiplied by the previous year’s rent (annualized for the first year, see Paragraph 4 below). lime of Payment. Taxes. Landlord shall communicate all rental increases to the Tenant in writing by the preceding December 1 of each year. The Annual Rent shall be paid before January 1 of each year. For the first year, the rental shall be pro rated through December 31 and shall be paid to Landlord in full at the time Lease is executed. 082/22148276 11/7/97 ■ i