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Site Number: MNMSP00339B 2 Confidential & Proprietary
<br />Market: Minneapolis Lease Version: 1.0
<br />2. Premises, Term, Rent and Contingencies .
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<br />2.1 Premises . Landlord has the right to grant the rights set forth in this Agreement as they pertain to
<br />the Property located at 3305 Silver Lake Road, Saint Anthony, Minnesota 55418, as more particularly described in
<br />Exhibit A, attached to and incorporated herein. In consideration of the obligations of Landlord and Tenant set forth herein, Landlord leases to Tenant, and Tenant hereby leases from Landlord: (i) a portion of Landlord’s Tower
<br />located on the Property for the installation of Tenant’s Equipment in the Tower Space; (ii) approximately thirty-
<br />five (35) square feet of ground space (“Ground Space ”) for Tenant’s use as Equipment Space; and (iii) additional
<br />space on the Property to be used as Cable Space. The Tower Space, Ground Space, Equipment Space and Cable
<br />Space are collectively referred to as the “Premises” and are depicted on the drawings attached hereto and incorporated herein as Exhibit B. Tenant shall have the right, but not the obligation, to prepare a survey of the
<br />Property, Tower Space, Equipment Space, Ground Space, Cable Space, and/or the Easements (as defined below)
<br />and said survey may, at Tenant’s election, replace Exh ibit B. Promptly following Tenant’s request, Landlord shall
<br />provide Tenant any existing surveys of the Premises in Landlord’s possession.
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<br />2.2 Term. This Agreement shall be effective as of the Effective Date. The initial term of this Agreement
<br />(the “Initial Term”) will commence on the first (1st) day of the month following the commencement of Tenant’s
<br />Installation (the “Commencement Date”), and will expire on the last day of the month that is sixty (60) months
<br />after the Commencement Date unless terminated sooner, renewed or extended in accordance with this Agreement.
<br />The Initial Term shall automatically be extended for up to four (4) additional terms of sixty (60) months each (each,
<br />a “Renewal Term”) unless Tenant elects, in Tenant’s sole and absolute discretion, not to renew the lease at the end of the then-current term by giving Landlord written Notice at least ninety days (90) days prior to the end of the
<br />then-current term. The Parties agree that each Party has vested rights hereunder and that this Agreement constitutes
<br />a binding and valid obligation of each Party as of the Effective Date, subject to the Contingencies (as defined in
<br />Section 2.4 below). The Initial Term and any applicable Renewal Term(s) may be referred to collectively as the
<br />“Term ”.
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<br />2.3 Rent . Beginning on the Commencement Date, and for each month thereafter during the Term,
<br />Tenant shall pay to Landlord rent for the Premises (“Rent”) in advance, without Notice, demand or set-off (except
<br />as otherwise set forth herein), in the amount of Two Thousand Seven Hundred and 00/100 Dollars ($2,700.00). All
<br />payments shall be made on or before the first day of the applicable month, at such places as may be designated in writing from time to time by Landlord at least thirty (30) days in advance of the first affected payment, except that
<br />all payments due hereunder for any fractional calendar month shall be prorated based upon the number of days
<br />during said month that the payment obligation was in force (collectively, the “Payment Terms”). The Parties
<br />acknowledge and agree that, notwithstanding anything to the contrary set forth in this Section 2.3, Tenant’s
<br />obligation to pay Rent or any other amount due hereunder is contingent upon Tenant’s receipt of an IRS approved
<br />W-9 form setting forth the tax identification number of Landlord (or of the person or entity to whom Rent is to be
<br />made payable, if applicable). Upon the commencement of each Renewal Term, the Rent shall be automatically
<br />increased by two and a half percent (2.5%) of the then-current Rent.
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<br />2.4 Contingencies. The Parties acknowledge and agree that Tenant’s ability to lawfully use the
<br />Premises is contingent upon Tenant obtaining each of the following: (a) a satisfactory structural analysis showing that the Tower is suitable for Tenant’s Permitted Use (“Structural Analysis ”); and (b) all certificates, permits,
<br />approvals and other authorizations that may be required by any Governmental Authority in accordance with
<br />Applicable Law (collectively, the “Governmental Approvals”). Tenant will endeavor to obtain all Governmental
<br />Approvals promptly following the Effective Date. Landlord hereby authorizes Tenant to file and submit for
<br />Governmental Approvals, at Tenant’s sole cost and expense. Landlord shall: (x) cooperate with Tenant in T enant’s efforts to obtain such Governmental Approvals; (y) promptly execute and deliver any and all documents necessary
<br />to obtain and maintain Government Approvals; and (z) take no action that would adversely affect Tenant’s ability
<br />to obtain Governmental Approvals. Prior to the Commencement Date, if: (i) a structural analysis shows that the
<br />Tower is not suitable for Tenant’s Permitted Use; (ii) any application for Governmental Approvals is rejected,
<br />conditioned, materially delayed or otherwise not approved for any or no reason; or (iii) Tenant determines, in
<br />Tenant’s sole and absolute discretion, that such Governmental Approvals cannot be obtained in a timely and
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