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HomeMy Public PortalAbout2-27-2020 First Amendment to Lease- SprintSite Name: Alamosa Site ID #: AT03A\\'057-.\ FIRST ANIf,ND}TENT TO \\'ATER TO\\,ER ATTACH}IE\-T LEASE AGREEl\IET.T This First Amendment to Water Tower Attachment Lease Agreement (this "First Amendment"), effective as of the date last signed below ("Effective Date"), amends a certain Water Tower Attachment Lease Agreement dated November ll, 1999, between Sprint Spectrum Realty Company, LLC, a Delaware limited liability company, successor in interest to AGW Leasing Company, Inc. ("Tenant"), and The City of Tybee Island ("Landlord") (the "Lease"). WHEREAS, the Lease has expired on December 14,2019, and Tenant and Landlord desire to extend the term ofthe Lease. WHEREAS, Tenant and Landlord desire to modify certain provisions ofthe Lease as provided below AGREEMENT For good and valuable consideration, the receipt and sufficiency of which are acknowledged, Landlord and Tenant agree as follows: I . Term. Paragraph 3 of the Lease is amended by adding the follorving The current term ofthe Lease has expired on December 14, 2019. Notwithstanding an)'thing to the contrary in the Lease, commencing on December 15, 2019, the term ofthe Lease is extended for five (5) additional renewal terms ofsixty (60) months each (each a "New Renewal Term"). The Lease will continue to renew per the terms of the Lease. All references in the Agreement to Renewal Terms shall include the New Renewal Terms. 2. Nlodificatia! !o le!!. Paragraph 5 ofthe Lease is amended by adding the following Starting on the first day ofthe New Renewal Term and on the first day ofevery month thereafter, Tenant will pay Rent in advance in equal monthly installments of Three Thousand Five Hundred Twenty and No/100 Dollars (53,520.00). Rent for any partial months will be prorated based upon a 30-day month. Thereafter, the Rent for each subsequenr New Renewal Term will be increased by twenty-seven point six percent (27.6%\ of the monthly installment of Rent payable during the previous New Renewal Term. If the New Renewal Term commences on any day other than the first day of a calendar month, then the Rent will not be increased until the first day of the first calendar month following the commencement ofeach New Renewal Term. Tenant's obligation to pay Rent is contingent upon Tenant's receipt of an IRS-approved W-9 form setting forth the tax identification number of Landlord or of the person or entity to whom paynent is to be made payable as directed in writing by Landlord. Landlord agrees to enroll for automated payment no less than thirty (30) days prior to the commencement of the New Renewal Term. All of Tenant's pa).rnent obligations set forth in the Lease are conditioned upon Landlord's timely enrollment for automated payment. Landlord may obtain electronic payment effollment forms by contacting Landlord solutions at 800-357-7641 or by submitting a ticket for direct deposit via the landlord ponal at https:iilandlordso lut ions. sD ri nt. c o rr,' I}AC KCROI,\D I sitc ID #: AT0l,\\\057-A 3 following: \otice.\ddress Paragraph 2l of the Lease is hereby deleted in its entirety and replaced with the All notices must be in writing and will be deemed to have been delivered upon receipt or refusal to accept delivery and are effective only when deposited in the U.S. mail, certified mail, retum receipt requested and postage prepaid or when sent via nationally-recognized courier delivery service addressed to the recipient party as follows: To [-andlord City ofTybee Island P.O. Box 2749 Tybee Island, GA 3 1328 Sprint Property Services sprint Site ID: AT03AW057-A Mailstop KSOPHD0 I0 l -22650 6220 Sprint Parkway Overland Park. Kansas 66251-2650 With a mandatory copy to Sprint Law Department Sprint Site ID: AT03AW057-A Attn.: Real Estate Attomey Maitstop KSOPHD0 | 0 I -22020 6220 Sprint Parkway Overland Park. Kansas 66251-2020 Landlord or Tenant may from time to time designate any other address for this purpose by written notice to the other party. a. All capitalized terms used in this First Amendment, unless otherwise defined herein, will have the same meaning as the terms contained in the Lease. b. In case ofany inconsistencies between the terms and conditions contained in the Lease and the terms and conditions contained in this First Amendment, the terms and conditions herein will control. Except as set forth herein, all provisions ofthe Lease are ratified and remain unchanged and in full force and effect. c. This First Amendment may be executed in duplicate counterparts, each ofwhich will be deemed an original. d. Each ofthe parties represents and wanants that it has the right, power, legal capacity and authority to enter into and perform its respective obligations under this FLst Amendment. e. Landlord agrees to execute concurrently with this First Amendment a recordable Memorandum of Amendment attached to this First Amendment as Attachment l, which Memorandum of Amendment Tenant may record at its own expense in the real propeny records where the Leased Premises is located. ON FOLLOWING 2 To Tenant: ,1. General Terms and Conditions. Landlord: The Cit! of Tlbee Island The parties have executed this First Amendment as ofthe Effective Date. Si(c ID #: ATI)3.\\\'057-.\ Tenant: Sprint Spectrum Realt-v Companl', LLC, a Delaware limited liability company By: Printed Name; Title: Date: Witnesses B1 Printed Name By: Printed Name: Title : Dale Witnesses By, Printed Name: By, Printed Name d/^ se lue By Printcd Nane: Silvia J. Lin ar-/z t )o )n @atemustfecompteted; Manager, Real Estate . tot0 (Date must be completed) Mi M,cl,re lIe C.va'.r.1(sh^ra' I glrasa- fi {on 11 tn dA l - /'\ I \ a I lJ ,-^ailt d "-J