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6 <br />8.Fee . Tenant will p ay Owner rent in the amount of $2,500 per month. The monthly <br />rent payment will increase by 7.5% effective upon the anniversary of the Comme ncement Date <br />during the following years: 2028, 2033, 2038, 2043 and 2048. Payment will be due and payable <br />on the first day of each month for the term of this Agreement. If payment has not been received <br />by Owner within fifteen (15) days of the due date, a late fee of $100 be applied. Failure to pay <br />within thirty (30) days following receipt of written notice of such failure to pay may result in <br />termination of this Agreement. <br />9.Use of the Leased Property. Tenant may use the Leased Property for the limited <br />purpose of constructing, maintaining, managing, and operating a telecommunication facility and <br />uses incidental thereto. All improvements will be at Tenant's expense. Tenant must maintain the <br />Leased Property in reasonable condition and in a manner not causing any damage to Owner’s <br />Property or equipment. <br />10.Termination. Tenant's installation, operation and maintenance of its Equipment <br />must not damage or interfere in any way with Owner's operations or related repair and <br />maintenance activities. Tenant agrees to cease all such actions which materially interfere with <br />Owner's use of the Water Tower promptly upon receipt of written notice of such interference, <br />provided, however, in such case, Tenant will have the right to terminate this Agreement. Owner, <br />at all times during this Agreement, reserves the right to take any action it deems necessary, in its <br />sole discretion, to repair, maintain, alter or improve the Tower Property in connection with <br />operations as may be necessary, provided, Owner must comply with its maintenance obligations <br />stated in paragraph 12 below. Owner agrees to give reasonable advance notice of any such <br />activities to the Tenant and to reasonably cooperate with Tenant to carry out such activities with <br />a minimum amount of interference with Tenant's Equipment and Tenant’s use of the Leased <br />Property. Notwithstanding any provision contained in this Agreement to the contrary, Tenant <br />may, in Tenant’s sole and absolute discretion and at any time and for any or no reason, terminate <br />this Agreement without further liability by delivering written notice to Owner at least 180 days <br />before termination. Further, Tenant shall have the right, but not the obligation, to terminate this <br />Agreement without further liability upon thirty (30) days prior written Notice to Owner due to <br />any one or more of the following: (i) changes in Applicable Law which prohibit or materially, <br />adversely affect Tenant’s ability to operate Tenant’s Equipment at the Leased Property; or (ii) <br />Owner or a third party installs any structure, equipment, or other item on the Structure, Property