06-10-2024 CC Agenda Packet - Laserfiche WebLink

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SITE LEASE AGREEMENT THIS SITE LEASE AGREEMENT ("Lease"), made as of the _LZ,, day of 2005 (the "Effective Date") between CITY OF ORONO, a Minnesota municipal corporation Landlord"), and NEW CINGULAR WIRELESS PCS, LLC, a Delaware limited liability company ("Tenant"). For good and valuable consideration, the parties agree as follows: 1. Leased Property and 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 Navarre water tower (hereinafter referred to as the "Tower" or the Structure"), and space adjacent to the Tower, subject to any and all existing easements, collectively referred to as the "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 2345 Blaine Avenue, Orono, Minnesota, 55391 (the "Property") on a non-exclusive basis. The Property is legally described on Exhibit A attached hereto. The Premises on which antennas, connecting cables and appurtenances will be attached and located, and on which an equipment facility will be located, the exact location of each to be reasonably approved by the Landlord, are described on Exhibit B attached hereto. The installation detail of the antennas, connecting cables and appurtenances, and of the equipment facility/cabinets is described in Exhibit C attached hereto. Exhibits A, B and C are made a part hereof. 2. Rent. a) Amount, Adjustments. As a consideration for this Lease and in consideration of Tenant's intention to install no more than 12 antennas, Tenant shall pay Landlord an annual rent in the amount of $20,402.00 for the initial year, which annual rent shall be increased each year on January 1, commencing on the effective date, by the greater of: a) five percent (5%) of the previous year's annualized rental, or (b) a percentage equal to the increase in the Consumer Price Index ("CPI"). The CPI shall mean the "Consumer Price Index - for All Urban Consumers, All Cities, All Items (1982-84=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 CPT 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). 1 121076599v2 752031 50