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,'
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sitc ID #: AT0l,\\\057-A
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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)
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