02/14/2000 Council Packet - Laserfiche WebLink

Home Search

• • SITE LEASE AGREEMENT ORIGINAL THIS SITE LEASE AGREEMENT ( "Lease "), made this day of 2000, between the City of Lino Lakes, ( "Landlord "), and AirTouch Communications, Inc., d /b /a AirTouch Cellular, a corporation organized and existing under the laws of Delaware ( "Tenant ") . For good and valuable consideration, the parties agree as follows: 1. Leased Premises. Subject to the terms and conditions of this Lease, Landlord hereby leases to Tenant and Tenant leases from Landlord a portion of Landlord's property, located at 7470 4th Avenue, Lino Lakes, County of Anoka, State of Minnesota, legally described in Exhibit A attached hereto ( "The Property"), subject to any and all existing easements, and a portion of the Lino Lakes Water Tower or other structure ( "Structure "), as more particularly shown in Exhibit B attached hereto, on which directional antennas, connecting cables, and appurtenances will be attached and located, the exact location of each to be reasonably approved by Landlord's Director of Public Works, together with appurtenant easements and access rights ( "Leased Premises "). 2. Rent. (a) Amount, Adjustments. As consideration for this Lease, Tenant shall pay Landlord an annual rent in the amount of $13,891.50 for the initial year, which shall be increased each year on January 1, 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 ( "CPI "). The CPI shall mean the "Consumer Price Index - for All Urban Consumers, All Cities, All Items (1984 = 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 fixture shall be multiplied by the previous year's rent (annualized for the first year, see Section 4 below). (b) Time of Payment, Taxes. Landlord shall communicate all rental increases to the Tenant in writing by the preceding December 1 of each year. The annual rental 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. If the Tenant does not meet the requirements, referenced in Subparagraph • 3(a) below by June 1, 2000, and Tenant has diligently pursued such requirements, Landlord shall refund the Tenant rental payment made at the time of Lease execution 1