8.0. EDSR 02-13-2006 - Laserfiche WebLink

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Site: MN0289 / Otsego larket: Chicago COMMIJNICATIONSSlTE LEASE AGREEMENT (GROUND) This COMMUNICATIONS SITE LEASE AGREEMENT ("Agreement") is dated as of 2005, by Nextel Wes[ Corp., a Delaware corporation ("Nextel" or "Tenant") and the F,conomic Development Authority for the City of Elk River a Minnesota Dublic body politic and corporate and the Citv of Elk Rivcr a Minnesota municipal corpm rlimt ("Owner" or Landlord ). For One Dollar ($I.00) (SS.BOtF) paid to Owner, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: t. Premises. Owner owns a parcel of land ("Land") located in the Citv of Elk River. County of Sherburne State of Minnesota, commonly known as 13065 Orono Parkway. Elk River MN 55330 (APN/PID: 75-528-0305 & 75-537-0105). The Land is more particularly described in Exhibit A annexed hereto. Subject to the provisions of Paragraph 2 below ("Effective Date/Due Diligence Period"), Owner hereby leases to Nextel and Nextel leases from Owner approximately twenty five hundred (2.500 / 50 X 50) square feet of the Land and all access and utility easements necessary or desirable therefor ("Premises"), as may be described generally in Exhibit B annexed hereto. 2. Effective Date/Due Diligence Period. This Agreement shall be effective on the date of full execution hereof ("Effective Date"). Beginning on the Effective Date and continuing until the Term Commencement Date as defined in Paragraph 3 below ("Due Diligence Period"), Nextel shall only be permitted to enter the Land for the limited purpose of making appropriate engineering and boundary surveys, inspections, and other reasonably necessary investigations and signal, topographical, geotechnical, structural and environmental tests (collectively, "Investigations and Tests") that Nextel may deem necessary or desirable to determine the physical condition, feasibility and suitability of the Premises. In [he even[ that Nextel determines, during the Due Di]igence Period, that the Premises are not appropriate for Nextel's intended use, or if for any other reason, or no reason, Nextel decides not to commence its ~nancy of the Premises, then Nextel shall have the right to terminate this Agreement without penalty upon written notice to Owner at ..ny time during the Due Diligence Period and prior to the Term Commencement Date. Owner and Nextel expressly acknowledge and agree that Nextel's access to the Land during this Due Diligence Period shall be solely for the limited purpose of performing the Investigations and Tests, and that Nextel shall not be considered an owner or operator of any portion of the Land, and shall have no ownership or control of any portion of the Land (except as expressly provided in this Paragraph 2), prior to the Term Commencement Date. 3. Term. The term of Nextel's tenancy hereunder shall commence upon the start of construction of the Tenant Facilities (as defined in Paragraph 6 below) or ?°" ~~n"=„~-..ittety-F90)-du~ws one hundred twenty (1201 davs following the Effective Date, whichever first occurs ("Term Commencement Date") and shall terminate on the fifth anniversary of the Term Commencement Date ("Term") unless otherwise terminated as provided herein. Tenant shall have the right to extend the Term for five (5) successive five (5) year periods ("Renewal Terms") on the same terms and conditions as set forth herein. This Agreement shall automatically be extended for each successive Renewal Term unless Tenant notifies Landlord of its intention not to renew with a three (3) month notice prior to commencement of the succeeding Renewal Term. 4. Rent. Tenant shall nay to Landlord as rent (-5-1-R8900) Twelve'Fhousand and 00/I00 Dollars ($l~ 000 00} per annum ("Rent"l. Rent for the first vear of the Agreement shall be paid within fifteen (15) davs of the Term Commencement Date and for subsequent years shall be paid on each anniversary of the Term Commencement Date If Owner terminates this Agreement during the Term or any Renewal Term prepaid Rent for the unused portion of that vear shall be refunded to T=rm s; sal bo=~,r~d-. Rent shall be payable to Landlord at 13065 Orono Parkwav, Elk River. MN 55330; Attention: City Administrator. All of Tenant's monetary obligations set forth in this Agreement are conditioned upon Tenant's receipt of an accurate and executed W-9 Form from Landlord. Rent shall "°'~-R,~.°-~~s~a on each anniversary of the Term Commencement Date by an amount equal to tree-four percent (34%) of [he Rent [hen in effect for the previous year.