Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
+ _�> <br /> �; f : <br /> � Agreement N <br /> ESCROW AGREEMENT <br /> ►�► ��� <br /> AGREEMENT made this �'=� day of '�50.-���, 201r3; by and between CITY QF � <br /> ORONQ, a Minnesota municipal corporation ("Landlord") and SPRINT SPECTR REALTY <br /> COMPANY,L.P., a limited partnership organized and existing under the laws of Delaware, successor in <br /> interest to Sprint Spectrum,L.P. ("Tenant"). <br /> RECITALS <br /> 1. Tenant has asked Landlord to Consent to Additions/Modificafions of its Ca unications <br /> equipment described in the Site Lease Agreement between Tenant and dlord dated <br /> December 8, 1997 as arnended by that certain Amendment #1 dated January 6, 1998 and <br /> Amendment No. 2 to Site Lease Agreement dated January 15,2008. <br /> Site I.D.: M503XC197 Site Name: Kelle,yParkway <br /> 2. Landlord is willing to prepaze a Consent or Leasa Amendment for the Project based on its <br /> review of the information provided by Tenant, specifically in#he Antenna Site plication of <br /> Tenant dated the 24`� day of October, 2013 ("Application") and Plans and S ifications <br /> prepared by Inte-grat-ed Design Services Group dated July 29, 2013 and signed d sealed on <br /> July 31, 2013 ("Plans and Specifications"), provided that Tenant reimburse Landl yd for all of <br /> its costs associated with the Project as set fQrth herein and in the Application. <br /> NOW THEREFORE,THE PARTIES AGREE AS F4LLOWS: <br /> 1. DEPOSIT OF ESCROW FiJND5. Contemporaneously with the exe� tion of this <br /> Escrow Agreement, the Tenant shall deposrt Ten Thousand and 00/100 Dollars ($1fJ,00Q. '} with the <br /> Landlord in escrow ("Escrow Accaunt"). All acerued interest, if any, shall be paid to'the Landlord to <br /> reimburse the Landlord for its cost in adrninistering the Escrow Account. <br /> 2. PURPOSE OF ESCRUW. The purpose of the Escrow Account is to r imburse the <br /> Landlord for all reasonable out-of pocket cost� the Landlord has incurred or will incur for viewing and <br /> approving this Project such as plan review, site meeting, structural analysis, attorney fees, d inspeetion <br /> time as set forth in the Application. <br /> 3. DISBURSEMENT FROM ESCROW ACCUUNT. The Landlard may d w from the <br /> Escrow Account frarn time to time without further approval of the Tenan� to reimburse the dlord for : <br /> eligible expenses the Landlord has is incurred. Within thuty(30} days following any with awal on the <br /> Escrow Accc�unt, the Landlord shall notify the Tenant of the draws the Landlord has made d the nature <br /> of the expense for which the reimbursement is being made and pro�ide Tenant with reasonab supporting <br /> documentation evidencing such expenses. Landlord will pmvide notiee if the Escrow A unt amount <br /> falls below $1,Q00.00. The Tenant shall thereafter deposit additional sums as d'uected by th Landlord in <br /> order for Landlord to pay for the actual cost and e�pen5e of Landlord as set forth in Section (Furpose of <br /> Escrow)hereof and the terms and conditians af the Application. <br /> i�29io�� <br /> 1 of 2 <br />