2007-153 Council Resolution - Laserfiche WebLink

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• • Sprint Site ID: MN0038/68057 AMENDMENT NO. 2 THIS AMENDMENT NO.2 ( "Amendment ") is made effective as of the day of 20 ( "Effective Date "), by and between City of Lino Lakes, having a mailing address at 600 Town Center Parkway, Lino Lakes, MN 55014, ATTN: Public Services Director ( "Landlord ") and Nextel West Corporation, a Delaware corporation, d /b /a Nextel Communications, successor in interest to One Comm Corp. N.A., d.b.a. Nextel Communications, a Corporation organized and existing under the laws of Delaware ( "Tenant "). BACKGROUND Pursuant to a Site Lease Agreement dated January 13, 1997 and Amendment No. 1 dated June 20, 2000 (collectively, the "Agreement "), Landlord leased to Tenant a certain portion of Property located at 7470 4th Avenue, City of Lino Lakes, County of Anoka, State of MN, as more particularly described in Exhibit B to the Agreement ( "Leased Premises "). Landlord and Tenant desire to further amend the Agreement as set forth herein. Words and phrases having a defined meaning in the Agreement have the same respective meanings when used herein unless otherwise expressly stated. AGREEMENT The parties agree as follows: 1. Term. Section 4 of the Agreement is amended by adding the following: Notwithstanding anything set forth in Section 4 to the contrary, the current Term of this Agreement will expire on December 31, 2011. Commencing on January 1, 2012, the term of this Agreement ( "New Initial Term ") is 5 years. The Agreement will be automatically renewed for up to 5 additional terms (each a "Renewal Term ") of 5 years each. Each Renewal Term will be deemed automatically exercised without any action by either party unless Tenant gives written notice of its decision not to exercise any option(s) to Landlord before expiration of the then current term. 2. Rent. Section 2a of the Agreement is amended by adding the following: Notwithstanding anything set forth in Section 2a to the contrary, effective January 1, 2008, Rent shall be paid in equal annual installments of Nineteen Thousand Five Hundred Forty Six and 79/100 Dollars ($19,546.79) per year, partial years to be prorated, in advance, and shall continue during the term (until increased as set forth herein). Thereafter, commencing on January 1, 2013, Rent will be increased by Fifteen percent (15 %) and every 5 years thereafter by Fifteen (15 %) of the then current Rent. Tenant initials: 1 Master Template V.8; BDW Deal V.2 Landlord initials: